Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 24 January 2023 1:53 pm

  Dollar is falling and the euro is close to its highest level in 9 months

  

  The dollar hovered near a nine-month low against the euro on Tuesday and gave up recent gains against the yen, as traders weigh the prospects of a US recession as well as the Federal Reserve’s interest rate path. The dollar index, which measures the US currency against a basket of …

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• 24 January 2023 12:51 pm

  The Japanese Nikkei index closed at the highest level in a month and a half

  

  Japan’s Nikkei index closed at its highest level in more than a month and a half on Tuesday, recouping all its losses since the Bank of Japan’s surprise monetary policy adjustment last month, and technology stocks led the rally, following Wall Street’s gains. The Nikkei rose 1.46 percent to close …

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• 24 January 2023 12:19 pm

  Gold rises thanks to the decline in the dollar amid anticipation of US data

  

  Gold prices rose on Tuesday amid a weaker dollar, and it is likely that the precious metal’s near-term prices will remain dependent on US economic data expected to be published this week and may affect the Federal Reserve’s interest rate strategy. Spot gold rose 0.2 percent to $1,935.04 an ounce …

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• 24 January 2023 2:47 am

  Market Drivers – US Session 23/01/2023

  

  The US dollar index bottomed around the 102 mark, hovering close to levels not seen since May 2022, as concerns about a US recession and prospects of a less aggressive Federal Reserve spooked investors away from the American currency.Widespread volatility dominated the first trading day of the week across both …

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• 24 January 2023 12:49 am

  WTI struggles near seven-week high amid China holidays

  

  The WTI crude oil retreats from multi-day high amid lack of major positives, cautious mood ahead of key data. Sluggish markets, Lunar New Year in China limit energy buyers’ optimism.WTI crude oil remains sidelined around $81.70, after refreshing the multi-day high above $82.00 the previous day. In doing so, the …

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• 23 January 2023 11:46 pm

  USD/CAD hovers around 1.3375 ahead of the BoC’s decision

  

  The USD/CAD pair exchanges hands between 1.3342-1.3417, ahead of the BoC’s monetary policy decision. Analysts expect the BoC to raise rates by 25 bps and to pause. It is worth mentioning that The BoC would release monetary policy minutes for the first time in its history.The USD/CAD climbs toward the …

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• 23 January 2023 10:49 pm

  Lagarde: Inflation far too high in Europe

  

  The European Central Bank will keep raising interest rates quickly to get inflation under control as it remains far too high according to ECB President Christine Lagarde.On Monday, Lagarde was largely repeating the bank’s most recent policy guidance. EUR/USD has found support on the European Central Bank officials’ comments this …

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• 23 January 2023 9:44 pm

  Amid Optimistic views, PMIs In Eurozone Expected To Rise

  

  Preliminary PMIs by S&P Global for the Eurozone will be reported Tuesday, January 24 at 09:00 GMT. Headline manufacturing PMI is expected at 48.5 vs. 47.8 in December, services PMI is expected at 50.2 vs. 49.8 in December, and the composite is expected at 49.8 vs. 49.3 in December. Analysts …

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• 23 January 2023 7:39 pm

  Gold price drops more than 0.60% on surging T-yields

  

  The overall market sentiment on Monday is positive and rising US Treasury bond yields are boosting the US Dollar, driving the Gold Index, XAU/USD, downwards.Gold price has retreated from around the daily $1935.51 highs and dropped below $1915 as US Treasury bond yields recover some ground and underpin the dollar, …

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• 23 January 2023 4:47 pm

  Euro is at a 9-month peak following European indications of continued monetary tightening

  

  On Monday, the euro reached a nine-month high against the dollar, as comments indicating the European Central Bank’s intention to raise interest rates by large rates were met by market expectations of a less hawkish approach by the Federal Reserve. The euro reached $1.0927, surpassing a recent peak at $1.08875, …

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• 23 January 2023 3:11 pm

  Gold prices are falling and the dollar’s decline limits losses

  

  Gold prices fell on Monday, as investors await US economic data this week that may affect the Federal Reserve’s policy in the future, but the decline in the dollar limited the losses of the yellow metal. The spot gold price fell 0.2 percent to $1922.58 an ounce by 0914 GMT. …

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• 23 January 2023 2:14 pm

  European stocks rise, supported by Tech

  

  European stocks rose on Monday, supported by technology and real estate companies, as expectations that the euro zone will witness a slight recession erased the impact of the hawkish statements of European Central officials that pushed the euro to its highest level in nine months. The pan-European Stoxx 600 index …

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• 23 January 2023 1:41 pm

  Gold prices rose as a result of the dollar’s decline

  

  Gold prices initially rose in Asian markets on Monday, supported by a weaker dollar and prospects for the Federal Reserve to slow down interest rate hikes. And the price of gold rose 0.1 percent to 1929.04 dollars an ounce at 0014 GMT. There was little change in US gold futures …

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