Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 1 February 2023 9:29 pm

  Wall Street’s Optimism Faces FOMC’s Test

  

  Strong January as well as latest gains in the stocks market are driven by hope that the US interest rate hiking cycle is close to its end and that a pause is on the cards. If investors’ expectations are eventually found mistaken about this hope, a drop could be very …

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• 1 February 2023 8:45 pm

  FOMC’s policy change sets the scene for prolonged decline in the USD

  

  The dollar has continued to weaken since the onset of the new year. Economists do anticipate a policy change from the FOMC in the first quarter of 2023, which would set the scene for a more prolonged decline.Given that Inflation easing more than expected, markets forecast that the Fed will …

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• 1 February 2023 7:41 pm

  GBP/USD fluctuates on weaker US economic data, ahead of FOMC decision

  

  As the US Fed makes its decision later on Wednesday, the GBP/USD pair remains firm. A busy US economic calendar was not enough to lend support to the US dollar, which is under pressure amid the current risk-off situation.According to the ADP National Employment Change report, private hiring increased by …

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• 1 February 2023 7:15 pm

  US: ISM Manufacturing PMI declines to 47.4 in January

  

  The economic activity in the US manufacturing sector continued to contract at an accelerating pace in January with the ISM Manufacturing PMI dropping to 47.4 from 48.4 in December. This reading came in below the market expectation of 48. Underlying details of the report revealed that the Employment Index edged …

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• 1 February 2023 5:22 pm

  Fed Preview: Forecasts from 5 major banks

  

  If markets are expecting a 25 basis point hike and eventually a 50 basis point hike is announced, that would be somewhat of a surprise. So, markets would react … Read: What Do Markets Expect From First FOMC Decision in 2023? The US Federal Reserve will announce its monetary policy …

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• 1 February 2023 4:38 pm

  European shares rose, supported by the gains of the pharmaceutical sector

  

  European stocks rose on Wednesday, supported by gains in Novo Nordisk and other healthcare stocks, with eyes focused on the Federal Reserve’s interest rate decision later in the day. The pan-European STOXX 600 was up 0.3% by 0814 GMT, after a 6.7% jump last month when it posted its biggest …

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• 1 February 2023 2:52 pm

  Oil stabilizes as markets await the decisions of Fed and OPEC

  

  Oil prices were generally stable on Wednesday as markets awaited the meeting of OPEC and its allies, the Federal Reserve’s decision on interest rates, and US government data on crude and fuel inventories. Brent crude futures fell 11 cents, or 0.1 percent, to $85.35 a barrel by 0949 GMT, while …

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• 1 February 2023 1:00 pm

  Nikkei closed flat, giving up early gains

  

  Japan’s Nikkei index gave up early gains to end Wednesday’s session little changed, as caution dominated the market ahead of a crucial Federal Reserve decision later in the day. At the same time, the difference between the winning and losing stocks was significant, amid investors’ interaction with the local earnings …

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• 1 February 2023 10:48 am

  Dollar is holding its breath

  

  The dollar settled largely against other major currencies on Wednesday, after falling in the previous session following US data that indicated a lull in wage pressures, while investors awaited the conclusion of the Federal Reserve’s policy meeting. The US central bank is expected to raise interest rates by 25 basis …

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• 1 February 2023 6:46 am

  US: Private sector employment rises by 106K in January

  

  The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 106,000 in January. This reading followed December’s growth of 253,000 (revised from 235,000) and missed the market expectation for an increase of 178,000 by a wide margin.

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• 1 February 2023 2:22 am

  Market Drivers – US Session 31/01/2023

  

  The US dollar surged throughout the first half of the day helped by risk-off. Asian stocks spent the day with negative performance. European stocks trimmed their losses ahead of the close, but gains  were recorded to strong January on Wall Street. Economic Data The market’s sentiment improved following the release …

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• 1 February 2023 2:09 am

  What Do Markets Expect From First FOMC Decision in 2023?

  

  After seven consecutive increases in 2022, traders and investors expect the Fed to raise rates by 25 basis points on Wednesday, with increases of 50 basis points by the European Central Bank and the Bank of England on Thursday.If markets are expecting a 25 basis point hike and eventually a …

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January, 2023

• 31 January 2023 11:57 pm

  Oil steadies on higher US demand, weaker dollar

  

  Oil prices closed steadily on Tuesday after recovering from a near three-week low, attracting support from the intraday weaker US dollar and on data showing that US demand for crude and petroleum products rose in November.The more active second-month Brent contract settled at $85.51 per barrel, up $1.09 or 1.29%, …

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