Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 22 February 2023 4:57 pm

  Morgan Stanley ups 2023 oil demand growth estimate by 36%, flags Russia risk

  

  By pointing to increasing momentum in China’s economy and a rebound in aviation, Morgan Stanley has increased its projection for this year’s global oil demand growth by approximately 36%. But, it has also noted greater production from Russia as an offsetting factor. The bank stated in a report dated Tuesday …

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• 22 February 2023 4:24 pm

  Higher car prices drive Stellantis to 2022 net profit beat

  

  Stellantis NV announced a new share buyback program for 2023 after the automaker posted better-than-expected annual profit, thanks to price hikes that helped outweigh lower car shipments in Europe and elevated input costs. The automaker formed from a merger between Fiat Chrysler and Peugeot-owner PSA Group in 2021 reported a 26% year-on-year jump …

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• 22 February 2023 3:40 pm

  Danone eyes better margins in 2023, Q4 sales top estimates

  

  Shares in Danone SA rose on Wednesday after the French food products group reported better-than-expected fourth quarter sales that were fueled by higher prices. Total sales during the three months to the end of December jumped by 12% on a reported basis to €7.01B (€1 = $1.0644), mainly driven by stronger pricing and …

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• 22 February 2023 2:46 pm

  Italy Jan EU-harmonised CPI revised to +10.7% y/y

  

  Italian EU-harmonised consumer prices (HICP) fell 1.5% month-on-month in January and were up 10.7% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data. The preliminary estimate had pointed to -1.3% month-on-month and +10.9% year-on-year. January’s +10.7% annual rate was down from +12.3% in December. …

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• 22 February 2023 1:55 pm

  European stocks are falling on falling mining stocks and interest rate fears

  

  European stocks opened lower on Wednesday, weighed down by a drop in mining stocks due to a fall in metals prices, and strong economic data raised concerns that interest rates will remain high for a longer period. The pan-European Stoxx 600 index was down 0.4 percent by 0809 GMT. Investors …

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• 22 February 2023 1:00 pm

  A slight rise in gold amid ahead of Fed

  

  Gold prices rose slightly on Wednesday as investors awaited the minutes of the latest monetary policy meeting at the Federal Reserve to assess the chances of further raising interest rates. Spot gold rose 0.1 percent to $1,835.79 an ounce by 0643 GMT. And gold futures contracts in the United States …

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• 22 February 2023 11:56 am

  US Dollar and GBP derive support from the recovery of corporate activities in America and Britain

  

  The dollar and the pound sterling found support on Wednesday after a sudden revival in corporate activity in the United States and Britain raised the possibility that both countries’ central banks would continue to raise interest rates. The euro compensated for some of the losses recorded in the last session, …

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• 22 February 2023 11:45 am

  German inflation rose to 8.7%

  

  Inflation in Germany rose during the second reading month of January to 8.7% from 8.6% previously, in line with expectations. Energy prices rose by 23.1% despite government relief measures, as domestic energy prices jumped by 36.5%, specifically natural gas, which rose by 51.7%. The prices of firewood, wood pellets and …

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• 22 February 2023 11:37 am

  Oil is falling on expectations that the interest rate hike will reduce fuel demand

  

  Oil extended its losses on Wednesday on expectations that the Federal Reserve will signal that it will continue to raise interest rates in comments it will issue on Wednesday, raising concerns about slowing economic growth as well as demand for crude. Brent crude futures for April delivery were down 23 …

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• 22 February 2023 10:54 am

  Nikkei closed at its lowest level in a month

  

  The Japanese Nikkei index closed at its lowest level in a month on Wednesday, affected by a broad wave of selling amid global political tensions and fears that raising interest rates in the United States will lead to a slowdown in the global economy. The Nikkei index lost 1.34 percent …

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• 22 February 2023 2:11 am

  Market Drivers – US Session 21/02/2023

  

  Wall Street returned from the long weekend and stayed in the red territory. US indexes are sharply down, losing roughly 2% each.EUR/USD trades at around 1.0650, not far from an early low at 1.0636. GBP/USD hovers around 1.2110, with the Pound supported by upbeat local data. The USD/JPY flirts with …

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• 22 February 2023 1:57 am

  Worst day of 2023 suffered by Wall Street on interest rate concerns

  

  Wall Street suffered from its worst performance of the year on Tuesday, with the main indexes closing down as investors interpreted the recent rebound in US business activity in Feb. as signaling interest rates will need to stay higher for longer to combat inflation.As for the S&P 500 and Nasdaq …

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• 22 February 2023 12:51 am

  Pound Sterling Best Performer following positive UK data

  

  The GBP/USD pair rallied from a 50% mean reversion of Friday’s bullish run and broke to 1.2150 on Tuesday, breaking a key resistance around 1.2050 which has invalidated the prior downside bias.The pound sterling achieved strong gains during the US session, Tuesday, and was the most major currency gainer, by …

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