Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 27 February 2023 4:46 pm

  UK, EU leaders to meet on Monday to finalise N. Ireland deal

  

  British Prime Minister Rishi Sunak is expected to announce a new deal on post-Brexit trade rules for Northern Ireland on Monday, gambling that the reward of better ties with the European Union is worth the discord it might cause within his own party. In power for only four months, Sunak …

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• 27 February 2023 3:20 pm

  Toyota production up 9% in January, chip pain still lingers

  

  Toyota Motor Corp boosted global vehicle production by 9% in January, it said on Monday, its first increase in two months even as the carmaker continued to feel the strain from global chip shortages. The company, which is the world’s largest automaker by volume, and other car manufacturers are still …

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• 27 February 2023 2:19 pm

  European shares opened higher, supported by a jump in the retail sector

  

  European stocks opened higher on Monday, supported by a jump in retail stocks after posting their worst weekly performance this year due to fears that interest rate hikes will continue for a longer period in the United States and the eurozone. The pan-European Stoxx 600 index was up 0.8% by …

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• 27 February 2023 2:14 pm

  Slight decline in confidence in the Turkish economy in February

  

  Data from the Turkish Statistical Institute showed on Monday that the economic confidence index fell by 0.3 percent on a monthly basis in February to 99.1 points, after violent earthquakes devastated the southern region of the country. The index, which indicates an optimistic outlook when its reading exceeds the 100 …

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• 27 February 2023 1:09 pm

  US Dollar near the highest level in 7 weeks

  

  The dollar settled near its highest level in seven weeks on Monday, after a batch of US economic data supported expectations that the Federal Reserve should continue raising interest rates for a longer period. Data on Friday showed a sharp rise in US consumer spending in January as inflation accelerated. …

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• 27 February 2023 12:17 pm

  Turkey’s trade deficit jumps 38% to $14.2 billion in January

  

  Official data on Monday showed Turkey’s foreign trade deficit increased 38.4 percent year-on-year to $14.24 billion in January, with imports rising 20.7 percent and exports 10.3 percent. The Turkish Statistical Institute stated that imports jumped to 33.61 billion dollars in January, while exports increased to 19.37 billion dollars. Under an …

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• 27 February 2023 11:30 am

  Nikkei index is falling amid expectations of more monetary tightening in America

  

  Japan’s Nikkei closed lower on Monday, guided by Wall Street, as investors expect US interest rate hikes to continue for a longer period after a batch of strong economic data. The index fell by 0.59 percent, before recovering some of its losses, and closing down 0.11 percent at 27,423.96 points. …

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• 27 February 2023 11:12 am

  Gold hits its lowest level in two months, with interest growing after US data

  

  Gold prices fell to the lowest level in two months on Monday, after strong US economic data fueled fears that the Federal Reserve (the US central bank) will take more measures to raise interest rates to curb inflation. Spot gold fell 0.1 percent to $1,808.51 an ounce by 0541 GMT. …

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• 27 February 2023 10:41 am

  Japan is in process of easing entry procedures for those coming from China

  

  The TBS television channel reported that Japan intends to ease entry procedures into the country for those coming from China by canceling the requirement to undergo a Corona examination before boarding and upon arrival, as of March 1. The channel said, quoting several government sources, that Japan will cancel the …

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• 27 February 2023 10:08 am

  No significant changes to oil while Russia continues its plans to cut production

  

  Oil prices were little changed in early trading on Monday, as Russia continued its plans to cut its production further to support prices, while rising crude inventories in the United States and rising risks from global inflation weighed on prices. US West Texas Intermediate crude futures were trading at $76.36 …

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• 27 February 2023 8:31 am

  Fed’s Jefferson: Lower inflation without job market disruption possible

  

  Fed’s Philip Jefferson said on Monday that it is possible for inflation to decline without an unnecessary amount of disruption in the job market, as reported by Reuters.The US Dollar stays under modest bearish pressure following these comments and the US Dollar Index was last seen losing 0.35% on a …

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• 27 February 2023 3:38 am

  Financial Markets’ Weekly Recap, Feb 20-24

  

  Risky assets retreated following Friday’s inflation report, with bitcoin losing about $762.36 to trade below $23,190.00, within a few dollars of its lowest level of this week. Nasdaq 100 futures were down 1.9%, and S&P 500 futures are lower by 1.4%. The January PCE Price Index unexpectedly rose to 5.4% …

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• 25 February 2023 5:41 am

  Market Drivers – US Session 24/02/2023

  

  The dollar index on Friday surged by +0.55% and posted a 1-1/2 month high.  Higher Treasury yields boosted the American currency with the prospects for continued hawkish Fed after Friday’s stronger-than-expected US economic data. The dollar also found support on hawkish comments by Fed officials. ECB’s Nagel said with core …

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