Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 20 February 2023 3:04 pm

  Saudi Arabian Energy Minister: OPEC+ is flexible enough to change decisions whenever required

  

  Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Monday, “OPEC+ is flexible enough to change decisions whenever required.” Last week, Saudi Arabian Energy Minister said the current OPEC+ deal on oil output would be locked in until the end of the year, adding the oil group can’t increase …

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• 20 February 2023 1:25 pm

  USD Rose supported by a series of strong US economic data

  

  The dollar rose on Monday, supported by a string of strong economic data from the United States that traders bet will cause the Federal Reserve to continue tightening monetary policy for longer than initially expected. The dollar rose broadly in early Asian trade, with the pound sterling falling 0.12 percent …

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• 20 February 2023 12:44 pm

  A slight rise in Japanese stocks as investors await the directions of BoJ and Fed

  

  Japanese stocks posted little gains at the close on Monday, as investors warned ahead of a week in which important US and global economic data and comments from the Bank of Japan’s new leadership team are expected. The Nikkei rose at the close, 0.07 percent, to record 27,531.94 points, and …

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• 20 February 2023 11:49 am

  Gold prices fell on USD and rates fear

  

  Gold prices fell on Monday, affected by the rise in the dollar, and after recent US economic data raised concerns that the Federal Reserve may raise interest rates further. The spot gold price fell 0.2 percent to $1,837.59 an ounce by 0048 GMT. US gold futures fell 0.1 percent to …

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• 20 February 2023 11:07 am

  China remains the benchmark lending rate for the sixth consecutive month

  

  China kept its benchmark lending rates unchanged for the sixth consecutive month in February, in line with expectations, as the world’s second-largest economy showed more signs of lasting recovery from the recession caused by the COVID-19 pandemic. A batch of better-than-expected data recently points to a recovery in economic activity …

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• 20 February 2023 10:40 am

  Stability of oil prices after decline last week

  

  Oil prices were little changed in early Asian trading on Monday, after falling $2 a barrel at the close on Friday, as rising supplies in the United States and expectations of higher interest rates dampened optimism about a recovery in demand in China. Brent crude fell nine cents, or 0.1 …

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• 20 February 2023 5:34 am

  Financial Markets’ Weekly Recap, 13-17 Jan

  

  The US dollar achieved strong gains in the last trading week, driven by a series of strong US economic data, with the markets increasing expectations that the US Federal Reserve will continue its tightening approach. In terms of weekly trading, the US dollar recorded a strong rise in today’s trading, …

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• 18 February 2023 3:34 am

  Market Drivers – US Session 17/02/2023

  

  US Treasury bond yields ended Friday’s trading in a bearish direction on weaker risk appetite after rising expectations of raising the federal interest rate based upon the latest US inflation readings. US Treasury bond yields for ten years fell to 3.821%, compared to the previous daily close of 3.862%.Last week’s …

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• 18 February 2023 2:03 am

  AUD/USD got weekly losses, on Fed’s hawkish language

  

  Last week’s inflation data in the United States boosted the US dollar’s recovery as US Treasury bond yields aimed higher. The AUD/USD pair is eyeing the busy economic calendar in Australia and the US next week.The Australian dollar finished the week with negative performance after hitting a daily high of …

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• 18 February 2023 12:45 am

  GBP/USD under pressure by expected Fed’s aggressiveness

  

  GBP/USD under pressure by expected Fed’s aggressivenessThe GBP/USD is attempting to recover after diving to fresh February lows around 1.1914 in the mid-US session, boosted by the weaker US dollar. The pair is trading below the important 200-day Exponential Moving Average (EMA) at 1.2132, keeping the downtrend intact. At the …

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• 17 February 2023 11:46 pm

  Bulgaria Won’t Adopt The Euro From 2024

  

  This month, Bulgaria will not request a convergence report that would demonstrate its readiness to join the Eurozone. The country’s goal to adopt the euro by January 1, 2024, has also been abandoned, according to Rositsa Velkova, the minister of finance.Despite the fact that it was on the agenda for …

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• 17 February 2023 10:48 pm

  Goldman Sachs, BofA expect 3 additional US rate hikes in 2023

  

  Goldman Sachs and Bank of America said they expect the U.S. Federal Reserve to raise interest rates three more times this year, lifting their estimates after data pointed to persistent inflation and a resilient labour market.Producer prices accelerated in January by the biggest margin in seven months, according to data …

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• 17 February 2023 9:47 pm

  Fed’s Barkin: Slow Progress on Inflation Suggesting Additional Hikes

  

  A top Fed official is downplaying recent signs that the US economy is strengthening, but also noted that he is willing to accept raising interest rates in smaller increments as often as needed to quell inflation Fed’s Thomas Barkin said Friday that recent data showing an unusually robust job gain …

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