Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 9 January 2023 5:42 am

  Financial Markets’ Weekly Recap, January 2-5

  

  Wall Street’s major indices closed higher on Friday, supported by reports that although jobs increased in the United States more than expected, wage increases slowed and services activity contracted, easing concerns about the path of interest rate hikes by the Federal Reserve. The data published by Automatic Data Processing (ADP) …

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• 7 January 2023 11:24 pm

  What Could New House Speaker McCarthy Mean For Financial Markets?

  

  Kevin McCarthy, the California Republican, is officially the new speaker of the US House after a hot Capitol Hill drama that continued for almost four days and 15 rounds of votes. If the House chaos for electing a new speaker had continued for weeks, the financial markets could have worried …

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• 6 January 2023 11:59 pm

  US Treasury yields retreat on wage growth data

  

  Friday’s US economic data produced a cascading drop in rates across the Treasury market, pushing the policy-sensitive 2-year and benchmark 10-year yields to their lowest levels of the new year. The 2-year yield which moves in coordination with expectations around the path of Fed’s policy, fell 19.1 basis points to …

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• 6 January 2023 10:56 pm

  US stocks jump as NFP data eases rate policy worries

  

  The nonfarm payrolls rose by 223,000 jobs in December according to the data announced by the US Labour Department while a 0.3% rise in average earnings was smaller than expected and lower than the previous month.The numbers for November were revised to show nonfarm payrolls rose by 256,000 and average …

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• 6 January 2023 9:57 pm

  Fed’s Bostic: US economy is definitely slowing

  

  Atlanta Federal Reserve bank president Raphael Bostic said on Friday that how the economy evolves will shape what the Federal Reserve has to do, as reported by Reuters.The US dollar continues to weaken against its rivals following these comments and the US Dollar Index was last seen losing 0.9% on …

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• 6 January 2023 8:52 pm

  Gold prices soar, surpassing $1,860 following solid NFP data

  

  Gold prices have extended its gains after the US Nonfarm Payrolls showed the US economy added more jobs than estimates while the rate of unemployed Americans edged lower. At the time of writing, XAU/USD trades volatile around $1,861 per ounce versus the previous closing price at 1832.49. The US Bureau …

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• 6 January 2023 7:54 pm

  USD/JPY impacted by US dollar’s weakness following NFP data

  

  US Nonfarm Payrolls data for December weakened the US Dollar, even though the labour market remains tight. Average Hourly Earnings easing sparked speculations for a dovish move of the Federal Reserve in the February meeting.The USD/JPY pair has remained downward biased below 133.00. The pair also struggles at the 200-day …

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• 6 January 2023 6:07 pm

  US Nonfarm Payrolls rise by 223,000 in December vs. 200,000 expected

  

  Nonfarm Payrolls in the US rose by 223,000 in December, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000 and followed November’s increase of 256,000 (revised from 263,000). Further details of the publication revealed …

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• 6 January 2023 3:16 pm

  Annual HICP in euro area drops to 9.2% in December

  

  Inflation in the euro area, as measured by the Harmonised Index of Consumer Prices (HICP), declined to 9.2% on a yearly basis in December from 10.1% in November, Eurostat announced on Friday. This reading came in below the market expectation of 9.7%. The annual Core HICP rose to 5.2% from …

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• 6 January 2023 3:13 pm

  European stocks are heading for their best weekly performance since November

  

  European stocks rose on Friday, on track for their best weekly performance since November, with natural gas futures falling and positive economic data as investors await inflation data in the eurozone. The Stoxx Europe 600 index rose 0.1% by 0815 GMT, bringing its weekly gain to 3.4% so far. All …

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• 6 January 2023 1:32 pm

  Nikkei closed higher amid bargain hunting after the yen fell against the dollar

  

  Japan’s Nikkei index recovered early losses to close higher on Friday as investors bought back falling stocks and the yen fell against the dollar. The Nikkei index closed up 0.59 percent at 25,973.85 points, after it started trading on a lower note, affected by the decline on Wall Street at …

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• 6 January 2023 12:50 pm

  Oil continues its gains thanks to the decline in US fuel stocks

  

  Oil prices rose about 1 percent on Friday, extending gains from the previous session, after data showed a decline in fuel stocks in the wake of the winter storm that swept the United States at the end of last year. And by 0203 GMT, Brent crude futures rose 79 cents, …

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• 6 January 2023 4:27 am

  Market Drivers – US Session 05/01/2023

  

  The dollar soared early on Thursday, boosted by the atmosphere typically denoting a hawkish Fed. The American currency gained additional momentum ahead of Wall Street’s opening following the release of upbeat US employment-related data. The EUR/USD pair fell to a fresh weekly low of 1.0514, recovering a few pips ahead …

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