Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 27 January 2023 10:40 am

  Oil is rising with the support of strong US economic data

  

  Oil prices rose slightly on Friday, extending their gains for the second session in a row, supported by strong US economic data and mounting hopes for a recovery in demand after the reopening of the Chinese economy. By 0113 GMT, Brent crude futures were up 30 cents, or 0.3 percent, …

  Read More »
• 27 January 2023 1:09 am

  Oil Surges On Signs Of Stronger Global Energy Demand

  

  Crude Gains On Signs Of Stronger Global Energy DemandCrude oil and gasoline prices on Thursday are moderately higher. Better-than-expected US economic data shows the US economy’s strength that is bullish for energy demand and fuel prices. There are also signs of strength in Chinese travel and consumer spending during the …

  Read More »
• 26 January 2023 10:47 pm

  Losses of Southwest cast heavy shadows on US airliners

  

  Southwest Airlines reported deeper losses than Wall Street’s dimmer expectations predicted, throwing heavy shadows on the reporting season for US major air carriers.Earlier on Thursday, Southwest and American Airlines reported their Q4 results, with Southwest losing an adjusted 38 cents a share, compared with consensus adjusted losses of around 7 …

  Read More »
• 26 January 2023 9:45 pm

  GBP/USD struggles on US data, UK retail sales data

  

  The GBP/USD has trimmed some of Wednesday’s gains after treading above 1.2400, the US economic data bolstered the US dollar, a headwind for the Pound Sterling.Retail Sales in the UK were disappointing while Brexit negotiations improved, according to McGrath, Irish PM. The GBP/USD pair dropped as the release of US …

  Read More »
• 26 January 2023 8:40 pm

  US Core PCE Preview: Forecasts from seven major banks

  

  Markets expect core PCE inflation, which excludes volatile food and energy prices, to rise 0.3% on a monthly basis and forecast the annual rate to decline to 4.4% from 4.7% in November. If the awaited reading meets the said estimates, it would be the lowest since October 2021 but still …

  Read More »
• 26 January 2023 7:42 pm

  Solid US GDP data drag gold below $1930s as traders await PCE

  

  Gold price drops more than 0.60% due to profit-taking as well as the positive US economic data. US Gross Domestic Product for Q4 has beat markets’ estimates, while jobless claims retreated. Durable Good Orders jumped while new orders shrank. Gold price retreats after hitting a nine-month high of $1949.16 and …

  Read More »
• 26 January 2023 6:08 pm

  US: Weekly Initial Jobless Claims decline to 186K

  

  There were 186,000 initial jobless claims in the week ending January 21, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 192,000 (revised from 190,000) and came in better than the market expectation of 205,000. The publication …

  Read More »
• 26 January 2023 5:44 pm

  US economy grows at an annual rate of 2.9% in Q4

  

  The US economy expanded at an annualized rate of 2.9% in the fourth quarter, the US Bureau of Economic Analysis’ (BEA) first estimate showed on Thursday.  This reading followed the 3.2% growth recorded in the third quarter and came in slightly better than the market expectation for an expansion of …

  Read More »
• 26 January 2023 3:16 pm

  Gold fell as the dollar rose, as investors awaited US data

  

  Gold prices fell on Thursday, January 26, with the rise of the dollar, while investors await US economic data that could provide clues about whether the Federal Reserve will slow down the pace of raising interest rates. Spot gold fell 0.5% to $1936.97 an ounce, after hitting its highest level …

  Read More »
• 26 January 2023 1:57 pm

  European stocks rise thanks to optimism about earnings

  

  European stocks rose on Thursday as strong quarterly earnings from ST Microelectronics, Sabadell and Nokia allayed concerns about corporate earnings season amid signs of a recession. The pan-European Stoxx 600 index was up 0.6% by 0835 GMT, with technology and financial services shares leading the gains. STMicroelectronics jumped 8.4% after …

  Read More »
• 26 January 2023 1:11 pm

  Nikkei snaps a winning streak ahead of US GDP data

  

  Japan’s Nikkei index snapped a four-session winning streak on Thursday, with shipping companies leading the decline, as investors around the world await US economic data that could influence the path of the Federal Reserve’s interest rate hike. The Nikkei index closed down 0.12 percent at 27,362.75, after rising 0.4 percent …

  Read More »
• 26 January 2023 12:20 pm

  Oil is rising, supported by a less-than-expected increase in US inventories

  

  Oil prices rose in early Asian trade on Thursday after a less-than-expected build in US crude inventories, while a weaker dollar made oil less affordable for buyers of other currencies. By 0119 GMT, Brent crude futures rose 12 cents to $86.24 a barrel, while West Texas Intermediate crude futures rose …

  Read More »
• 26 January 2023 4:58 am

  Market Drivers – US Session 25/01/2023

  

  Hopes for a dovish stance by the Fed are widespread across financial markets as they are heading towards the end of the month and the FOMC policy decision on February 1. ECB policy decision is also awaited for direction. Investors and traders are closely watching Thursday’s GDP data in the …

  Read More »