Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 7 February 2023 7:45 pm

  USD/CAD firmer ahead of speeches by Fed’s Powell, BoC’s Macklem

  

  The USD/CAD pair is holding to gains as traders await clues by Fed Chair Jerome Powell’s speech later on Tuesday. At the time of writing, the pair is trading at 1.3463, registering 0.12% gains versus the previous closing at 1.3445.On Tuesday, the US trade deficit widened, though market participants ignored …

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• 7 February 2023 7:32 pm

  Investors want to hear Powell’s thoughts on the latest employment data

  

  Of particular interest to stock investors, today is what Federal Reserve Chairman Jerome Powell has to say at an event organized by The Economic Club of Washington DC. But, most importantly, they want to know his thoughts on the latest Labor Department report, which showed US payrolls grew by more …

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• 7 February 2023 7:06 pm

  US Dollar Surges On Kashkari’s Hints Ahead Of Powell’s Speech

  

  Fed’s policymakers began to reflect on the unexpectedly robust jobs report for January, a few hours before Chair Jerome Powell faces questions later on Tuesday on whether the NFP data has shaken his confidence that high inflation will come down without hawkish moves by the central bank to slow the …

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• 7 February 2023 6:44 pm

  What can US trade deficit figure tell about US economy?

  

  The US trade deficit deepened to a record in 2022 on surging imports as most US companies jostled and rushed so early to avoid having insufficient goods, and instead, hurried their imports beforehand in order to meet demand.The value of imports last year climbed 16.3% from 2021 to nearly $4 …

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• 7 February 2023 6:35 pm

  US trade deficit widens in 2022 to record on strong imports

  

  The United States international trade deficit in goods and services rose by $6.4 billion to $67.4 billion in December, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis revealed on Tuesday. This reading came in better than the market expectation for a deficit …

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• 7 February 2023 6:13 pm

  A third wave of strikes in France continues to put pressure on Macron

  

  Public transport, schools and oil refineries were disrupted in France on Tuesday as trade unions led a third wave of a nationwide strike against President Emmanuel Macron’s plans to extend the working years for French people before retiring. Strike movements in many sectors and street protests on Tuesday come hours …

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• 7 February 2023 4:45 pm

  UK house prices stabilise after four-month fall, Halifax says

  

  Halifax reports that after falling for the previous four months, UK home prices were roughly level in January. According to the lender, after significant drops of 1.3% in December and 2.4% in November, average prices were unchanged at £281,684 last month. The rate of annual growth in home prices, however, …

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• 7 February 2023 2:20 pm

  Gold rises with the fall of USD ahead of Fed Chairman’s speech

  

  Gold prices rose on Tuesday as the dollar weakened, as traders await Federal Reserve Chairman Jerome Powell’s speech due later on Tuesday for hints about future interest rate hikes after strong economic data last week. And by 0730 GMT, spot gold rose 0.4 percent to $ 1874.34 an ounce, after …

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• 7 February 2023 1:53 pm

  European settled and BP lead the energy sector to rise

  

  European stocks witnessed stability during trading on Tuesday, at a time when the prospects for the continuation of the cycle of raising interest rates around the world continue to undermine sentiment, while the oil giant BP led the energy sector to rise. The Stoxx 600 index of European stocks settled …

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• 7 February 2023 1:08 pm

  RBA raises OCR by 25 bps to 3.35% in February

  

  The Reserve Bank of Australia (RBA) board members decided to raise its official cash rate (OCR) by another 25 basis points (bps) from 3.10% to 3.35%, as widely expected, when they met at their February 7 monetary policy meeting, the first of this year. According to the latest Reuters poll, …

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• 7 February 2023 12:45 pm

  Which Assets Await Fed Chair Powell’s Speech On Tuesday

  

  Investors and traders will be all ears as Fed Chair Jerome Powell delivers his speech on Tuesday. Bond yields continued to surge on Monday as traders assess the possibility that the Fed will postpone any talk about rate cuts until later in the year after Friday’s very strong jobs report.Markets …

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• 7 February 2023 12:34 pm

  Japan’s Nikkei closed lower ahead of Fed Chairman’s speech

  

  Japan’s Nikkei trimmed its gains to close lower on Tuesday as investors awaited Federal Reserve Chairman Jerome Powell’s speech, but a slew of corporate earnings left the market directionless. The Nikkei index fell 0.03 percent to close at 27,685.47 points, and cut the fourth consecutive winning session, after trading remained …

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• 7 February 2023 2:22 am

  Market Drivers – US Session 06/02/2023

  

  The US Dollar extended its Friday rally to fresh February highs against most major rivals, fueled by a dismal market sentiment. Investors and traders will be all ears as Fed Chair Jerome Powell delivers his speech on Tuesday. Bond yields continued to surge on Monday as traders assess the possibility …

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