Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 17 February 2023 2:55 pm

  Chinese Lenovo records the largest decline in revenue in 14 years in the third quarter

  

  China’s Lenovo Group reported a 24 percent decline in revenue in the third quarter, the largest in 14 years, as global demand for electronics shrank and the company said it would cut spending and reshuffle the workforce. The company, the world’s largest maker of personal computers, reported on Friday that …

  Read More »
• 17 February 2023 2:54 pm

  Ukraine: talks to extend the grain corridor begin within a week

  

  Ukraine’s Deputy Infrastructure Minister Yury Vaskov said on Friday that negotiations to extend the grain export corridor agreement across the Black Sea will start within a week. The Black Sea Grain Initiative, brokered in July by the United Nations and Turkey, allowed grain to be exported from three Ukrainian ports …

  Read More »
• 17 February 2023 2:11 pm

  European stocks open lower as interest rate hike fears return

  

  European stocks opened nearly 1 percent lower on Friday, with interest rate-sensitive technology stocks negatively affected by expectations the Federal Reserve will continue tightening monetary policy, while Mercedes-Benz and Sica rose thanks to a strong earnings announcement. The pan-European Stoxx 600 index was down 0.9% by 0813 GMT, with technology …

  Read More »
• 17 February 2023 9:56 am

  US dollar is rising with Treasury yields

  

  The dollar rose as US Treasury yields rose on Friday, heading for a third week of gains, as a wave of strong economic data in the United States increased market expectations that a new interest rate hike is on the horizon. Thursday’s data showed an unexpected drop in the number …

  Read More »
• 17 February 2023 9:54 am

  Oil is falling while interest rate concerns cast a shadow over the demand outlook

  

  Oil prices fell on Friday, heading for weekly losses, as strong US economic data raised concerns about the Federal Reserve continuing its monetary tightening policy to curb inflation, which could affect fuel demand even as crude inventories grow. By 0105 GMT, Brent crude futures fell 49 cents, or 0.6 percent, …

  Read More »
• 17 February 2023 4:37 am

  Market Driver – US Session 16/02/2023

  

  US stocks came under intense selling pressure, although Wall Street trimmed most of its intraday losses ahead of the close. US government bond yields, on the other hand, advanced, with the 10-year note now offering 3.83% and the 2-year note paying 4.61%. AUD/USD battles to regain the 0.6900 threshold after …

  Read More »
• 17 February 2023 4:25 am

  Fed’s Mester: A recession could happen as rates rise

  

  Cleveland Fed President Loretta Mester said as the Federal Reserve’s higher interest rates slow the economy, a recession may result, though it’s not part of her baseline forecast and is not what the central bank wants.US Dollar Index prints mild gains around 104.15 as bulls flirt with the six-week high …

  Read More »
• 17 February 2023 4:06 am

  US official: Russia’s crude output cut signals unsold oil

  

  The decision by Russia to cut crude oil output by 500,000 barrels per day reflects its inability to sell all of its oil according to Ben Harris, US Treasury Department Assistant Secretary. Russia’s Deputy Prime Minister Alexander Novak last week said it would voluntarily cut output beginning next month following …

  Read More »