Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 4 February 2023 12:51 am

  USD/CAD climbs on remarkably positive NFP data

  

  The USD/CAD resumed its uptrend once it reclaimed the February 1 daily high at 1.3379. the pair climbs in the US trading session after hitting a daily low of 1.3311 before Wall Street opened.The strong US jobs report boosted the US dollar, the strongest currency across the forex board. At …

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• 3 February 2023 11:47 pm

  Wall Street plunge in reaction to NFP data

  

  US stocks plunged lower on Friday morning as traders digested the much stronger than expected jobs report for January, but recovered a little bit by midday trading after the US jobs report far exceeded expectations while the unemployment rate fell to a historic low of 3.4%. Stock market’s steep decline …

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• 3 February 2023 11:13 pm

  Poor UK data could impose pressure on the GBP

  

  The change in the Bank of England’s rhetoric is favouring additional interest rate hikes in the upcoming policy meetings. Meanwhile, poor UK data is expected to drag the British Pound lower. The GBP/USD pair has fallen this afternoon, as the US Non Farm Payrolls data pointed to a surprise surge …

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• 3 February 2023 8:59 pm

  Could NFP Drive FOMC To Cautious Stance On Rate Hikes?

  

  Friday’s NFP data by the US Bureau of Labour Statistics showed that Nonfarm Payrolls surged by 517K in January, above market consensus. The figure pushed the US dollar forward to rally. Analysts point out that there is still plenty of additional economic data from the beginnings of February till March’s …

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• 3 February 2023 5:13 pm

  Oil stabilizes as the market awaits demand recovery in China and the EU ban

  

  Oil prices stabilized on Friday, but were heading to record losses for the second week, as the market awaited other indications of a recovery in fuel demand in China and the extent of the impact of an embargo imposed by the European Union on Russian oil products and a ceiling …

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• 3 February 2023 4:02 pm

  Gold rose slightly as investors awaited the US jobs report

  

  Gold prices settled in a narrow range on Friday, as cautious investors assessed the statements of global central banks and awaited the US Nonfarm Payrolls report. After losing nearly two percent in the previous session, spot gold rose 0.2 percent to $1915.42 an ounce by 0930 GMT. US gold futures …

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• 3 February 2023 3:06 pm

  Dollar rose as investors awaited US jobs data

  

  The dollar rose slightly on Friday to maintain some momentum, after jumping in the previous session following a series of decisions by central banks in Europe. Trading was relatively subdued as markets awaited the release of the latest US jobs data later in the day, which could change Federal Reserve …

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• 3 February 2023 1:23 pm

  European stocks fell, affected by the weak profits of US technology companies

  

  European stocks fell on Friday, weighed down by losses in technology stocks, after disappointing overnight earnings for their major US counterparts reignited concerns about global economic demand and the impact of rising interest rates. The pan-European Stoxx 600 index was down 0.5 percent by 0812 GMT. Nevertheless, the index is …

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• 3 February 2023 12:41 pm

  Turkey’s annual inflation is near 58%, exceeding expectations

  

  Official data showed on Friday that Turkey’s annual inflation fell to 57.68 percent in January, but much higher than expectations. The Turkish Statistical Institute said consumer prices rose 6.65 percent month-on-month, nearly double the 3.8 percent forecast in a Reuters poll. On an annual basis, the survey expected consumer price …

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• 3 February 2023 12:40 pm

  Gold stabilizes after heavy selling, but is heading for a weekly decline

  

  Gold prices stabilized on Friday after heavy selling in the previous session, as traders absorbed the statements of global central banks regarding raising interest rates, but the yellow metal is heading to record its first weekly decline in seven weeks in light of the strength of the dollar. And by …

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• 3 February 2023 12:38 pm

  Japan’s Nikkei closes at a 7-week high and Sony jumps thanks to strong expectations

  

  Japan’s Nikkei closed at a seven-week high on Friday, buoyed by Nasdaq’s strong performance overnight, with Sony and others leading the index higher after announcing strong growth expectations. The Nikkei index rose 0.39 percent to close at 27,509.46 points, the highest closing level since December 16. The index rose 0.46 …

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• 3 February 2023 12:37 pm

  Oil is heading for weekly losses while waiting for signs of recovery in China

  

  Oil prices made modest gains in early trading on Friday, but were set to incur losses for the second week in a row, as the market looked for more indications of a strong recovery in fuel demand in China to offset the impact of looming recession in other major economies. …

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• 3 February 2023 3:34 am

  Market Drivers – US Session 02/02/2023

  

  The dollar recovered most of the ground lost in the aftermath of the Fed’s decision amid ECB and BOE monetary policy announcements. The dollar edged higher against most major rival currencies, with the JPY being its strongest rival and the GBP the weakest.Stock markets advanced, partially limiting US Dollar gains. …

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