Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 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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• 22 February 2023 12:11 am

  FOMC Minutes: Have Fed policymakers considered switching to larger rate hikes?

  

  On Wednesday, February 22, the first FOMC Minutes in 2023 will be released. Supported by aggressive Fed rhetoric and rising T-yields, the US Dollar Index is expected to record monthly gains. The majority of traders and investors will scan the impending release for comments and quotes referring to the Fed’s …

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• 21 February 2023 10:00 pm

  Crude oil retreats as fears dimming China demand hopes

  

  Brent crude oil retreated about than 1% in a volatile session on Tuesday as persistent concerns about global economic growth outweighed supply curbs and prompted investors to take profits on the previous day’s gains.The focus in the wider financial market is firmly on the release on Wednesday of the minutes …

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• 21 February 2023 8:48 pm

  US Existing Home Sales decline in January

  

  Existing Home Sales in the US continued to decline in January. Meanwhile, the US Dollar Index stays in positive territory above 104.00. Existing Home Sales in the US declined by 0.7% in January to an adjusted annual rate of 4 million, the National Association of Realtors (NAR) reported on Tuesday. …

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• 21 February 2023 7:45 pm

  Lagarde not seeing wage-price spiral in Eurozone

  

  European Central Bank President Christine Lagarde said on Tuesday that they are not seeing a wage-price spiral in the Eurozone and explained that wage growth is a part of ‘catching up,’ as reported by Reuters.Lagarde further noted that the headline inflation has begun to slowdown but reiterated that they intend …

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• 21 February 2023 7:09 pm

  US: S&P Services PMI improves to 50.5 in February vs. 47.2 expected

  

  S&P Global Services PMI recovered above 50 in February’s flash estimate. The US Dollar Index continues to push higher above 104.00. The dollar also gathered strength against its rival currencies with the initial reaction and the US Dollar Index was last seen rising 0.35% on the day at 104.22.Business activity …

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• 21 February 2023 6:07 pm

  RBNZ Preview: Forecasts from three major banks

  

  The Reserve Bank of New Zealand (RBNZ) will announce its monetary policy decision on Wednesday, February 22 at 01:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of three major banks. RBNZ is expected to raise the …

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• 21 February 2023 5:43 pm

  Canada: Retail Sales rise by 0.5% in December

  

  Canadian retail sales rose by 0.5% in December from November at C$62.12 billion ($46.19 billion), on higher sales at motor vehicles and parts dealers, as well as general merchandise stores, Statistics Canada said on Tuesday. Sales were seen to rise by 0.7% in January, the agency said in a flash …

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• 21 February 2023 5:30 pm

  RBNZ preview: 50 bps seems appropriate

  

  The Reserve Bank of New Zealand (RBNZ) will announce its monetary policy decision on Wednesday, February 22 at 01:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of six major banks. According to a Reuters survey of …

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• 21 February 2023 4:24 pm

  Eurozone business growth at the highest level in 9 months, supported by the services sector

  

  A survey showed that strong growth in the services sector gave impetus to business growth in the euro zone this month, expanding much faster than expected, in the latest evidence that the single currency region can escape recession. Data on Tuesday reported that the S&P Global’s composite purchasing managers’ index …

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• 21 February 2023 3:01 pm

  German ZEW Economic Sentiment Index improves to 28.1 in February

  

  The German ZEW headline number showed that the Economic Sentiment Index improved further, arriving at 28.1 in February from 16.9 in January, beating the market expectation of 22.0. Meanwhile, the Current Situation Index came in at -45.1 from -58.6 but outpaced the market expectation of -50.0 During the same period, …

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