Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 4 January 2023 7:03 pm

  US: ISM Manufacturing PMI declines to 48.4 in December vs. 48.5 expected

  

  Business activity in the US manufacturing sector contracted for the second straight month in December with ISM’s Manufacturing PMI declining to 48.4 from 49 in November. This reading came in slightly below the market expectation of 48.5.The US Dollar Index edged higher in an initial reaction and was last seen …

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• 4 January 2023 6:03 pm

  USD is falling as inflation slows in Europe

  

  The dollar fell on Wednesday against commodity-linked currencies such as the Australian dollar and against the euro, which was supported by a batch of data indicating that European inflation may have run its course. The dollar was already under pressure from investors who were increasingly optimistic that China’s easing of …

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• 4 January 2023 4:37 pm

  Euro stabilizes and hopes of lifting Covid restrictions in China boost sentiment ahead of Fed minutes

  

  The euro stabilized on Wednesday, January 4, and high-risk currencies recovered thanks to optimism that China’s lifting of Covid restrictions would boost growth, while investors’ focus shifted to US data and the Federal Reserve. The euro had lost 1% overnight, its biggest drop in more than two months after a …

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• 4 January 2023 2:12 pm

  European shares rose for the third session as inflation slowed in France

  

  European stocks extended their rally on Wednesday after a lower inflation reading in France boosted sentiment as investors await data on business activity in the eurozone and minutes from the Federal Reserve’s last meeting. The Stoxx 600 index of European shares rose 0.5 percent by 0808 GMT, while the French …

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• 4 January 2023 1:20 pm

  Nikkei trailed Wall Street lower and closed at a 10-month low

  

  The Nikkei index of Japanese stocks closed at its lowest level in nearly ten months in the first trading sessions in 2023, tracking the impact of Wall Street’s decline last night, while sentiment was also affected by the rise of the yen against the dollar. The Nikkei index fell 1.45 …

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• 4 January 2023 5:06 am

  Market Drivers – US Session 03/01/2023

  

  On Tuesday, the US dollar soared against all of its major rival currencies. The dollar started the day on the back foot, but secured robust gains early during the European session, triggering stops and further accelerating its advance. Key Developments EU countries reached an agreement on a coordinated approach to …

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• 4 January 2023 4:39 am

  GBP/USD trades cautiously ahead of US Manufacturing data

  

  The Dollar Index climbed to near two-week high around 104.65 after a solid recovery from 103.00. The GBP/USD pair has shifted its performance below the psychological support of 1.2000 in the early Asian session. The pair failed in taking control above the 1.2000 mark amid risk aversion. A significant drop …

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• 4 January 2023 1:58 am

  Could it be a different year for Japan’s yen?

  

  The Japanese yen was down slightly on the day at 130.77 after earlier hitting a six-month high of 129.51 against the US dollar. At the time of writing, the USD/JPY pair is trading at 131.32 at the time of writing. The yen’s latest rally followed a Nikkei report on Saturday …

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• 4 January 2023 12:54 am

  Wall Street Grows Worried On Tesla’s Missing Delivery Estimates

  

  Tesla delivered 405,278 vehicles in the fourth quarter of 2022. It is a record result for a quarter, but Wall Street was looking for closer to 420,000 electric vehicles.Fourth quarter deliveries have been disappointing, and Tesla’s shares are dropping while Wall Street analysts are closely watching price targets. Wall Street …

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• 3 January 2023 11:49 pm

  WTI sinks beneath $78.00 on recession woes, stronger dollar

  

  WTI, the US crude oil benchmark retreats more than 3% on Tuesday, due to increased concerns of diminishing demand from China, as the country battles spurring Covid-19 cases amidst increasing worries for a worldwide recession. At the time of writing, WTI is trading at $77.42 per barrel, below its opening …

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• 3 January 2023 10:59 pm

  USD/CHF manages to hold onto strong daily gains

  

  The US dollar has recovered momentum during the US session as market sentiment deteriorates. The Swiss Franc falls across the board, so, the EUR/CHF pair rises toward 0.9900. The pair has best performance in weeks, gains 1.40%. The USD/CHF pair is rising sharply on Tuesday amid a stronger US dollar …

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• 3 January 2023 9:53 pm

  EUR/USD shakes ahead of FOMC Minutes

  

  The US dollar’s strength continues on Tuesday despite the declining Manufacturing PMI data. On the other hand, the Euro extends its losses as a reaction to Germany’s inflation data. So far, the dollar recovered and reached fresh two-week highs, although T-yields retreated.The US Dollar Index climbs close to 1%, at …

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• 3 January 2023 8:43 pm

  Silver sharply advances towards $24.30s

  

  Silver rallied sharply, more than 1.60%, as liquidity conditions improved on Tuesday. The stronger US dollar was no excuse for the Silver Index to print solid gains, bolstered by falling US bond yields.Falling US Treasury yields underpinned the white metal. Wall Street is expected to enjoy a higher open, even …

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