Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 24 February 2023 7:38 pm

  US data has subjected gold to fresh pressure

  

  The US dollar and yields rise further after Friday’s US economic data. US Core PCE rose above expectations in January. Gold reacted by hitting fresh weekly lows near $1,810. Gold prices dropped further after the beginning of the US trading session amid a stronger US dollar and higher Treasury bond …

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• 24 February 2023 5:37 pm

  Warner Bros Discovery falls as results trail estimates

  

  Shares of Warner Bros Discovery are trading over 3% lower in pre-market Friday after the entertainment company reported worse-than-expected results for its fourth quarter. WBD posted a loss per share of $0.86 on revenue of $11.01 billion. Analysts were expecting a loss per share of $0.29 on sales of $11.23B. The parent …

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• 24 February 2023 4:41 pm

  Reuters: U.S., China to hold deputy-level bilateral talks on debt

  

  The United States and China will hold deputy-level talks between their finance officials on Friday to discuss debt and other issues on the sidelines of a G20 finance meet in India, two sources familiar with the matter told Reuters. U.S. Treasury Secretary Janet Yellen said on Thursday, ahead of a meeting …

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• 24 February 2023 3:48 pm

  UK issues export bans on every item used by Russia in war

  

   Britain marked the one-year anniversary of the invasion of Ukraine by issuing more sanctions against Russia, including export bans on every item it has used on the battlefield and import bans of iron and steel goods. Britain has frozen assets and targeted a wave of Russian officials and companies in …

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• 24 February 2023 2:55 pm

  A slight decline in gold due to concerns about rates

  

  Gold prices fell slightly on Friday as investors worried that stronger-than-expected recent US economic data could prompt the Federal Reserve to continue raising interest rates for a longer period. Spot gold fell 0.1 percent to $1,821.80 an ounce, by 0745 GMT. While US gold futures rose 0.2 percent to $1,831.00. …

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• 24 February 2023 1:46 pm

  European stocks rise with the support of French Saint-Gobain and Swedish Elekta

  

  European stocks opened higher on Friday, February 24, supported by optimistic earnings reports from French building materials company Saint-Gobain and Swedish medical equipment Elekta. The Stoxx 600 rose 0.4%, tracking the rally in Asian markets after the Bank of Japan’s exclusion of an early end to monetary easing pushed down …

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• 24 February 2023 12:53 pm

  German GDP contracted 0.4% in Q4

  

  The German economy contracted at the end of last year as inflation and the energy crisis affected household consumption and capital investment. The Federal Statistics Office said on Friday that the country’s economy contracted 0.4 percent in the last quarter of 2022 compared to the previous three months. Preliminary data …

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• 24 February 2023 12:37 pm

  Oil is rising, supported by fears of a reduction in Russian supplies

  

  Oil prices extended their gains for the second consecutive session on Friday, as the impact of expectations of lower exports from Russia outweighed the increase in inventories in the United States. By 0215 GMT, Brent crude futures were up 61 cents, or 0.7 percent, at $82.82 a barrel. West Texas …

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• 24 February 2023 11:58 am

  Reuters sources: Russia plans to reduce its oil exports by up to 25%

  

  According to a press report, Russia plans to implement significant cuts to its oil exports in order to raise the price of crude for the West. And according to what sources told Reuters, Russia may reduce shipments from its western export hubs by up to 25% by March. The sources …

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• 24 February 2023 11:45 am

  The Nikkei index makes the biggest jump in a month thanks to chip stocks

  

  Japan’s Nikkei average posted its biggest jump in a month on Friday, recovering from a one-month low hit in the previous session, as chip-related stocks rose and the Bank of Japan’s upcoming governor supported the current monetary easing policy. The index ended Friday up 1.29 percent to 27,453.48 points. The …

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• 24 February 2023 2:34 am

  RBNZ’s Silk: There will be no pause in tightening

  

  “The projected cash rate peak is not set in stone,” Reserve Bank of New Zealand (RBNZ) Assistant Governor, Karen Silk expressed her view Friday.The news allows NZD/USD to remain firmer even as the geopolitical fears join broad US Dollar strength to challenge the bulls. The reason could also be linked …

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• 24 February 2023 1:38 am

  USD/JPY slides on stronger dollar

  

  The US Dollar has benefited from Thursday’s hawkish data. The USD/JPY pair’s price is capped by the 135s so far and a move below 134.50 will be key for the week ahead. The USD/JPY pair is trading at 134.72 at the time of writing in the afternoon on Wall Street …

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• 23 February 2023 11:54 pm

  Market Drivers – US Session 23/02/2023

  

  Risk aversion continued supporting the US dollar on Thursday, reaching fresh February highs against most major rival currencies. The dollar advanced during Asian trading hours on the back of hawkish FOMC Meeting Minutes, finding sufficient momentum during the US session following mixed US data.Economic Data The annualized pace of growth …

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