Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 23 February 2023 3:07 pm

  US Dollar stabilized near the highest level in several weeks

  

  The dollar settled below a multi-week high against other major currencies on Thursday, a day after it received support from the latest Federal Reserve minutes that did not change the market’s expectations that the US central bank will raise interest rates further. The euro settled at $ 1.0606, slightly above …

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• 23 February 2023 3:03 pm

  Ministry of Defense: China will not participate in a nuclear arms race with any country

  

  China will not engage in a nuclear arms race with any country, and will always keep its nuclear force at the minimum level that meets national security requirements, said Tan Kefei, spokesman for the Chinese Ministry of Defense, at a press conference Thursday. Tan was responding to a reporter’s request …

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• 23 February 2023 2:55 pm

  Italian Eni recorded the highest profits in more than 10 years in 2022

  

  Italian energy group Eni said on Thursday its adjusted net profit rose to 13.3 billion euros ($14.12 billion) in 2022, its highest profit in more than a decade, but its shares fell as markets focused on weak exploration and production activity in the fourth quarter of the year. Adjusted net …

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• 23 February 2023 1:52 pm

  Gold rose as US Dollar fell and interest rate expectations limited gains

  

  Gold prices rose on Thursday, supported by a slight decline in the dollar, but the odds that interest rates in the United States will remain high for a longer period limit the gains of the yellow metal. Gold in instant transactions rose 0.3 percent to $ 1830.90 an ounce by …

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• 23 February 2023 1:35 pm

  European stocks opened higher, supported by chipmakers

  

  European stocks opened higher on Thursday as chipmakers rose on expectations of increased sales from US semiconductor company Nvidia. Shares of ASM International, BE Semiconductor and Extron rose between 1.6 and 3.2 percent, boosting the European technology sector 0.9 percent. Nvidia Corp. projected first-quarter revenue higher than Wall Street estimates …

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• 23 February 2023 11:58 am

  Telekom reports Q4 growth, forecasts slightly higher earnings in 2023

  

  Deutsche Telekom reported better-than-expected fourth-quarter earnings on Thursday, citing customer growth in Germany and strong performance from T-Mobile US, and forecast a slight rise in profits this year. Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) of 9.96 billion euros ($10.58 billion) for the quarter, slightly …

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• 23 February 2023 11:22 am

  Oil prices go up, ending six days of losses

  

  Oil prices rose slightly in weak Asian trade on Thursday, ending six days of losses fueled by growing concerns that higher interest rates by central banks could squeeze economic growth and boost fuel demand. And by 0110 GMT, Brent crude futures rose two to $ 80.62 a barrel. West Texas …

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• 23 February 2023 2:43 am

  Market Drivers – US Session 22/02/2023

  

  The US Dollar benefited from the hawkish FOMC Minutes, accelerating its move by the end of the US trading session. The document showed that a few participants favored a 50 basis point (bps) rate hike, while some believed there was an elevated risk of a recession in 2023.Key DevelopmentsAll FOMC …

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• 23 February 2023 2:28 am

  How Have Assets Immediately Reacted To FOMC Minutes?

  

  On Wednesday, the dollar index rose by +0.39%. The dollar moved moderately higher and is just below last Friday’s 6-week high. A slump in stocks Wednesday boosted the liquidity demand for the dollar. Also, the hawkish minutes of the Jan 31-Feb 1 FOMC meeting supported the dollar, with policymakers anticipating …

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• 23 February 2023 1:20 am

  US stocks close lower following FOMC minutes’ hawkishness

  

  US stocks closed lower on Wednesday as traders and investors are busy digesting the summary of the Fed’s latest meeting minutes, looking for clues on the central bank’s next move against inflation. The Dow Jones Industrial Average dropped 84.50 points, or 0.26%, ending at 33,045.09. The S&P 500 fell 0.16% …

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• 23 February 2023 12:35 am

  AUD/USD falls following FOMC minutes

  

  The first minutes of the FOMC in 2023 showed that some Fed officials wanted a 50 bps rate hike. Policymakers’ worries are linked to a tight labor market and commented inflation risks are tilted upwards. The AUD/USD pair prolonged its losses during the Wednesday session and dropped nearby the day’s …

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• 22 February 2023 11:46 pm

  RBNZ’s Orr: Core inflation too high, expectations elevated

  

  The Reserve Bank of New Zealand’s governor, Adrian Orr has said that core inflation is too high and that expectations are elevated.Orr has voiced concerns over the difficulties people faced paying for goods and services while power, communications and services were down in flood-affected regions.Orr indicated he was not happy …

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• 22 February 2023 11:06 pm

  FOMC minutes: A few participants favored raising rates by 50 basis points

  

  The first FOMC Minutes in 2023 has been released with investors searching for further insights into the near-term path for policy and any comments regarding the possibility of the Federal Reserve going back to 50 bps hikes. The US Dollar ran higher from a new low at 104.25 in the …

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