Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 11 January 2023 7:02 pm

  EIA forecast oil prices to decline beginning 2023’s second half

  

  In their January 2023 Short-Term Energy Outlook, the official website of the governmental US Energy Information Administration (EIA), forecasts Brent crude oil price to rise from an average $81 per barrel recorded in December 2022 to average $83/b in the first quarter of 2023 (1Q23). The EIA also expects this …

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• 11 January 2023 5:45 pm

  A slight rise in oil, with the rise in US inventories

  

  Oil prices rose slightly on Wednesday, amid an unexpected increase in US crude and fuel inventories, global economic uncertainty and China’s reopening of its economy. Brent crude futures rose 53 cents, or 0.7 percent, to $80.63 a barrel by 0921 GMT. US West Texas Intermediate crude futures rose 41 cents, …

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• 11 January 2023 3:55 pm

  API: US oil stocks rose by 14.8 million barrels

  

  The American Petroleum Institute said that crude oil inventories rose by 14.8 million barrels in the week ending on the sixth of January. In its weekly report, the Petroleum Institute stated that gasoline stocks rose by 1.8 million barrels, and distillate stocks increased by 1.1 million barrels. Today, Wednesday, the …

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• 11 January 2023 2:29 pm

  European shares rose, supported by the reopening in China and optimism about interest rates

  

  European stocks rose on Wednesday, supported by the rise in shares of the German company Bayer and the French LVMH group, amid investor optimism about the reopening of the economy in China and hopes of slowing the pace of raising US interest rates. The Stoxx Europe 600 index was up …

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• 11 January 2023 2:27 pm

  Oil is falling after an increase in US inventories reinforced demand concerns

  

  Oil prices fell on Wednesday, giving up gains from the previous session, after sector data revealed an unexpected increase in US crude and fuel inventories, which raised concerns about fuel demand. West Texas Intermediate crude futures fell 59 cents, or 0.8 percent, to $74.53 a barrel by 0134 GMT, while …

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• 11 January 2023 12:56 pm

  Japan’s Nikkei rises to a two-week peak with the support of robotics

  

  Japan’s Nikkei average rose more than 1 percent on Wednesday to a two-week high, as robotics stocks led gains, despite important US inflation data expected later in the week. The Nikkei index ended Wednesday’s session up 1.03 percent to 26446, and had earlier touched 26479.99 for the first time since …

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• 11 January 2023 12:30 pm

  Gold rose to an 8-month high as investors awaited inflation data

  

  Gold rose to its highest level in eight months on Wednesday, supported by the dollar’s decline, but it is still moving in a relatively narrow range as investors await inflation data that may affect the Federal Reserve (US Central Bank) raising interest rates. And by 0615 GMT, spot gold prices …

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• 11 January 2023 2:39 am

  Market Drivers – US Session 10/01/2023

  

  The US Dollar advanced throughout the first half of the day but ended it mixed as Wall Street managed to revert pre-opening losses and posted a modest advance. At the same time, US government bond yields advanced. Investors are unwilling to risk much ahead of the release of US inflation …

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• 11 January 2023 2:11 am

  US stocks surge after Powell’s speech

  

  US stocks closed higher, on Tuesday, following a choppy session, as markets digested a downgraded global outlook from the World Bank and awaited key inflation data. US stocks have made modest gains after Fed Chair Jerome Powell had said the US central bank may need to make unpopular decisions to …

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• 11 January 2023 1:39 am

  Gold Cautiously Moves Higher Ahead Of US CPI Data

  

  The US Dollar is starting to recover after dropping to seven-month lows and a rebound could follow a higher Consumer Price Index data. Gold price is trading at $1877.24 at the time of writing, higher by almost 0.3% versus the previous closing price at $1871.65 on Monday, after climbing from …

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• 11 January 2023 12:37 am

  Canada’s dollar weakens ahead of US inflation data

  

  The Canadian dollar weakened against its US counterpart on Tuesday, as it pulled back from a six-week high as investors await Thursday’s CPI data in the United States. The awaited reading could offer clues on the Fed’s policy intentions. The price of oil, one of Canada’s major exports, settled 0.7% …

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• 10 January 2023 11:18 pm

  ECB’s Centeno: End of interest rate rise process is approaching

  

  The European Central Bank’s governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end.The ECB’s policymaker added “even though inflation may have some resistance in January and February it will resume falling in March.”EUR/USD pair is trading at 1.0741 at the …

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• 10 January 2023 10:20 pm

  Crude oil rises for fourth session in a row

  

  WTI crude oil rose for a fourth-straight session, on Tuesday. WTI price is boosted by optimism due to the reopening of China’s borders. The Federal Reserve is expected to finetune the pace of future rate hiking in the light of Thursday’s reading of Consumer Price Index, in focus. The US …

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