Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 17 January 2023 11:20 pm

  GBP/USD reacts to strong UK data ahead of key Consumer Price Index

  

  United Kingdom’s Unemployment Rate data mainly pushed the British Pound’s latest rally. The GBP/USD pair is in the hands of the bulls on the front side of an hourly trendline ahead of key Consumer Price Index inflation data scheduled for release on Wednesday.The GBP/USD bears are eying a break of …

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• 17 January 2023 10:34 pm

  Earnings drop drags Wall Street lower

  

  US stocks traded within a tight range on Tuesday after contrasting Q4 earning reports from investment banks Goldman Sachs and Morgan Stanley, while China unveiled disappointing annual GDP data.Wall Street’s S&P 500 edged 0.2 per cent lower, supported by rising prices for energy and banking companies, while the tech-heavy Nasdaq …

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• 17 January 2023 9:23 pm

  Could BoC hike rate again despite Canada’s easing Inflation?

  

  The Data released on Tuesday showed lower-than-expected inflation figures in Canada. This data was largely as expected, so, the Bank of Canada is expected to raise rates by 25 bps next week before pausing for the remainder of 2023. The BoC’s core measures CPI-median and CPI-trim also decelerated by one …

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• 17 January 2023 8:27 pm

  Yen expected to soar if BoJ decides on additional YCC adjustment

  

  The critical Bank of Japan policy decision that is broadly awaited by investors on Wednesday could lift the Yen as much as 5%, according to analysts and economists.The BoJ meeting poses further upside risks to the JPY. If the BoJ decides on further YCC adjustment, we estimate that the Yen …

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• 17 January 2023 7:31 pm

  Ahead of BoJ’s policy decision, USD/JPY fluctuates around 128.50,

  

  Amid risk-off impulse, and speculations for the Bank of Japan quitting its policy stance, the USD/JPY is struggling. USD/JPY attempts to hold on its earlier gains as the US session begins, though it’s retracing after hitting daily highs of 129.16 before the Wall Street open. The US dollar is giving …

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• 17 January 2023 6:25 pm

  Oil prices are at a two-week high supported by expectations of a recovery in Chinese demand

  

  Oil prices rose to a two-week high on Tuesday after China reported weak economic growth data that beat expectations, supported by hopes that Beijing’s change in policy to combat COVID-19 will boost fuel demand. By 1224 GMT, Brent crude futures rose $1.14, or 1.4 percent, to $85.60 a barrel. West …

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• 17 January 2023 4:57 pm

  Sterling rose with the growth of wages in Britain and the yen near the highest level in 7 months

  

  The British pound rose on Tuesday after data showed that wage growth in Britain, which the Bank of England watches closely to determine the pace of interest rate hikes, accelerated again. The yen held near its highest levels in seven months, with investors holding their breath in anticipation of a …

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• 17 January 2023 2:50 pm

  The acceleration of wage growth in Britain raises the Bank of England’s concern about inflation

  

  The pace of wage growth in Britain, which the Bank of England monitors closely to determine the pace of interest rate hikes, accelerated in the three months to November, official data showed on Tuesday. Wages excluding bonuses rose 6.4% year-on-year in the September-November period, the biggest increase since records began …

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• 17 January 2023 2:45 pm

  European stocks stabilize after Chinese data raised concerns about the economy

  

  European stocks stabilized on Tuesday, after investor fears of an economic slowdown after China recorded its weakest annual growth rate in nearly 50 years outweighed gains in industrial stocks. And by 0815 GMT, the European Stoxx 600 index was stable, after reaching a nine-month high in the previous session. Asian …

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• 17 January 2023 12:46 pm

  Oil prices mixed amid weak Chinese economic data

  

  Oil prices were mixed on Tuesday after China posted its weakest annual economic growth in nearly half a century, while a shift in its tough anti-COVID-19 policy in late 2022 raised hopes for a recovery in fuel demand in the world’s largest crude importer this year. Brent crude futures rose …

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• 17 January 2023 3:16 am

  Market Drivers – US Session, January 16

  

  A significant amount of optimism seemed to weaken at the beginning of this quiet week, with US markets closed observing Martin Luther King holiday. The dollar managed to recover ahead of the daily close but ended the day with modest gains against most major rivals, and it is still at …

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• 17 January 2023 1:49 am

  Bitcoin abandons fear zone for first time in 9 months

  

  Bitcoin’s famous Fear and Greed Index moved into the neutral territory over the weekend following several months of persistent fear. On Tuesday, Bitcoin was trading up 2.2% on the day at $21,165m, before sliding to $21138.00, up by (+1.21%) at the time of writing versus the previous closing price of …

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• 16 January 2023 11:22 pm

  NZD/USD holds near strongest levels in a month

  

  The NZD/USD pair is flat into the early close on Wall Street. Traders will look to the Q4 NZIER QSBO survey. The pair moved between a low of 0.6361 and a high of 0.6426, currently flat on the day hovering near its strongest levels in a month.The NZD benefitted in …

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