Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 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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• 17 February 2023 8:49 pm

  S&P 500 falls as rate hikes to their highest levels in three months

  

  US stocks slipped on Friday as high inflation and a rebound in rates continue to weigh on investor sentiment. The S&P 500 shed 0.92%, and the Nasdaq Composite fell 1.30%. The Dow Jones Industrial Average was down 104 points, or 0.34%, but off lows of the day. Yields on the …

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• 17 February 2023 7:42 pm

  Gold recovers as US yields, dollar edged lower

  

  Gold price is expected to finish the week with around 1.60% loss, below the $1850 level. Gold spot price tumbled for the third day, down almost 0.65% after US economic data throughout the week, turning market sentiment sour on speculations that further Fed tightening is looming. At the time of …

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• 17 February 2023 7:06 pm

  US Dollar rose to its highest level in 6 weeks in the last sessions of the week, why?

  

  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. Dollar trades now Looking at the dollar’s trading on Friday, we note that the US …

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• 17 February 2023 5:38 pm

  US Assistant Secretary of the Treasury: Russia’s reduction in crude production indicates its inability to sell oil

  

  Ben Harris, US Assistant Secretary of the Treasury, said Thursday, February 16, that Russia’s decision to reduce crude oil production by 500,000 barrels per day reflects its inability to sell all of its oil, as Russian Deputy Prime Minister Alexander Novak announced last week that Moscow will voluntarily reduce production …

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• 17 February 2023 4:29 pm

  Gold is heading for a third weekly decline

  

  Gold prices fell on Friday, on track for a third consecutive week of declines, as investors worried about the possibility of the Federal Reserve raising interest rates after a series of strong economic data. Spot gold fell 0.6 percent at $1,827.09 an ounce, after earlier falling to its lowest since …

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• 17 February 2023 3:06 pm

  Goldman Sachs now expects three more Fed rate hikes in 2023

  

  Goldman Sachs said it now expects the Federal Reserve to raise interest rates 3 times this year, by a quarter of a percentage point each time, after data this week indicated rising inflation and a strong labor market. A report on Thursday showed that producer prices in January accelerated by …

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