Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 24 January 2023 10:49 pm

  USD/CAD consolidates ahead of BoC, key data

  

  The USD/CAD pair is eagerly awaiting BoC’s rate decision this week and the build-up momentum ahead of the Fed’s policy meeting next week. The USD/CAD is flat on the day following stock market volatility. The USD/CAD is flat on the day after journeying between the 1.3346 low and the 1.3413 …

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• 24 January 2023 9:42 pm

  European markets close lower despite Eurozone’s return to growth

  

  Tuesday’s latest purchasing managers’ index data from the Eurozone in January and the first signs of the corporate earnings season are being digested by investors as European markets ended lower on Tuesday.The pan-European Stoxx 600 index decreased by 0.2%, with losses led by the oil and gas and health care …

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• 24 January 2023 8:43 pm

  ECB’s Simkus: Should continue with 50bp rate hikes

  

  European Central Bank’s policymaker Gediminas Simkus said on Tuesday that the ECB should continue with 50 basis points (bps) rate hikes amid growing wage pressures, as reported by Bloomberg.Simkus further added that reaching the peak policy rate before summer ‘may be unlikely’ and noted that strong core inflation shows that …

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• 24 January 2023 7:40 pm

  Australian inflation data could push AUD/USD’s rally higher

  

  The AUD/USD pair broke decisively above 0.7000 yesterday. Australia’s Consumer Price Index data for Q4 could fuel the rally if figures come out sticky according to economists. The AUD/USD is trading at 0.7049 at the time of writing versus the previous closing at 0.7024. Tuesday’s fourth-quarter CPI data in Australia …

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• 24 January 2023 4:46 pm

  Oil stabilizes midway between China’s reopening, economic concerns

  

  Crude oil prices stabilized on Tuesday amid concerns about the global economic slowdown and the expected increase in US oil inventories, which was offset by hopes for a recovery in fuel demand from China, the world’s largest oil importer. Brent crude fell 30 cents, or 0.3 percent, to $87.89 a …

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• 24 January 2023 2:12 pm

  US Debt Ceiling — Everything you need to know

  

  The U.S. hit the debt ceiling The U.S. Debt Ceiling is an essential fiscal tool that has been around for a while; however, it has recently become a source of much debate and discussion.  The debt ceiling is the legal limit to which the U.S. government can borrow money from …

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• 24 January 2023 1:53 pm

  Dollar is falling and the euro is close to its highest level in 9 months

  

  The dollar hovered near a nine-month low against the euro on Tuesday and gave up recent gains against the yen, as traders weigh the prospects of a US recession as well as the Federal Reserve’s interest rate path. The dollar index, which measures the US currency against a basket of …

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• 24 January 2023 12:51 pm

  The Japanese Nikkei index closed at the highest level in a month and a half

  

  Japan’s Nikkei index closed at its highest level in more than a month and a half on Tuesday, recouping all its losses since the Bank of Japan’s surprise monetary policy adjustment last month, and technology stocks led the rally, following Wall Street’s gains. The Nikkei rose 1.46 percent to close …

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• 24 January 2023 12:19 pm

  Gold rises thanks to the decline in the dollar amid anticipation of US data

  

  Gold prices rose on Tuesday amid a weaker dollar, and it is likely that the precious metal’s near-term prices will remain dependent on US economic data expected to be published this week and may affect the Federal Reserve’s interest rate strategy. Spot gold rose 0.2 percent to $1,935.04 an ounce …

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• 24 January 2023 2:47 am

  Market Drivers – US Session 23/01/2023

  

  The US dollar index bottomed around the 102 mark, hovering close to levels not seen since May 2022, as concerns about a US recession and prospects of a less aggressive Federal Reserve spooked investors away from the American currency.Widespread volatility dominated the first trading day of the week across both …

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• 24 January 2023 12:49 am

  WTI struggles near seven-week high amid China holidays

  

  The WTI crude oil retreats from multi-day high amid lack of major positives, cautious mood ahead of key data. Sluggish markets, Lunar New Year in China limit energy buyers’ optimism.WTI crude oil remains sidelined around $81.70, after refreshing the multi-day high above $82.00 the previous day. In doing so, the …

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• 23 January 2023 11:46 pm

  USD/CAD hovers around 1.3375 ahead of the BoC’s decision

  

  The USD/CAD pair exchanges hands between 1.3342-1.3417, ahead of the BoC’s monetary policy decision. Analysts expect the BoC to raise rates by 25 bps and to pause. It is worth mentioning that The BoC would release monetary policy minutes for the first time in its history.The USD/CAD climbs toward the …

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• 23 January 2023 10:49 pm

  Lagarde: Inflation far too high in Europe

  

  The European Central Bank will keep raising interest rates quickly to get inflation under control as it remains far too high according to ECB President Christine Lagarde.On Monday, Lagarde was largely repeating the bank’s most recent policy guidance. EUR/USD has found support on the European Central Bank officials’ comments this …

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