Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 28 January 2023 2:49 am

  Higher supply attitude drags oil prices lower

  

  Oil prices steady lower on Friday, marking weekly flat performance to the downside amid indications of stronger Russian oil supply counterbalancing the better-than-expected rate of US economy’s growth in light of Friday’s PCE data, strong middle distillate refining margins and hopes of a quicker recovery of China’s demand levels.WTI crude …

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• 28 January 2023 1:40 am

  EUR/USD hovers around 1.0860s as Fed, ECB decisions eyed

  

  The EUR/USD encountered rejection from the 1.0900 psychological barrier for the second day in a row. On Friday, the pair fell to the 1.08657 territory after US data boosted the expected 25 bps rate hike by the Fed next week. At the time of writing, the EUR/USD is trading at …

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• 28 January 2023 12:43 am

  Wall Street closes higher with weekly gains as Fed’s decision eyed

  

  US equities advanced on Friday, marking the end of trading week that was full of key economic data as well as earnings results signaling weakening demand but also economic flexibility with only a few days apart from Fed’s policy decision next week.All three major US stock indexes ended Friday’s US …

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• 27 January 2023 11:45 pm

  Why is Biden refusing to negotiate on debt ceiling?

  

  Joe Biden’s most important decision for this year has already been made. Biden and his top advisers indicated that they will reject demands from the new Republican majority in the House of Representatives to link increasing the debt ceiling with cutting federal spending. Instead, Biden is insisting that Congress pass …

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• 27 January 2023 9:49 pm

  GBP/USD snaps two days of gains as FED, BoE policy decisions eyed

  

  Even while US inflation is still twice what the Fed wants it to be, it is steadily weakening. Ahead of the Fed and BoE’s monetary policy decisions next week, the GBP/USD pair is moving sideways.The possibility of minor rate hike by the US Federal Reserve increased as a result of …

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• 27 January 2023 8:47 pm

  ECB’s 50 bp hike most likely next week

  

  Next week will witness policy meetings by the US Fed, BoE, and the ECB. Investors and traders anticipate rate hikes of 50 basis points as a hint that the Fed will keep rising rates. A 50 bp rate hike for the following week is all but guaranteed, according to analysts …

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• 27 January 2023 7:43 pm

  USD/CAD bounces off multi-week lows near 1.3300

  

  The USD/CAD pair picks up some momentum and retests the 1.3330 mark. The pair is trading at 1.3053 at the time of writing post the announcement of the US headline, Core PCE which drifted lower in December.US Consumer Sentiment comes next on the economic calendar. The USD/CAD now is attempting …

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• 27 January 2023 4:18 pm

  Gold fell amid expectations that Fed will stick to raising interest rates

  

  Gold prices fell on Friday, as markets viewed strong US economic data as an impetus for the Federal Reserve to keep interest rates high for a longer period, but caution before inflation data and the Monetary Policy Committee meeting next week limited gold’s decline. Spot gold fell 0.2% to $1,926.09 …

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• 27 January 2023 2:18 pm

  Japan’s Nikkei records its biggest weekly gain in two months

  

  On Friday, the Japanese Nikkei index recorded its biggest weekly jump in more than two months, with the index recouping all its losses since the Bank of Japan’s sudden adjustment to one of its policies last month, but caution about local earnings limited gains. The Nikkei index rose 0.07 percent …

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• 27 January 2023 1:29 pm

  European stocks stabilize before central banks meetings

  

  European stocks were little changed on Friday as investors refrained from making big bets ahead of a series of central bank meetings next week, while luxury goods stocks fell after weak business results from industry leader LVMH. And by 0815 GMT, the European Stoxx 600 was stable, as gains in …

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• 27 January 2023 11:54 am

  Dollar is falling, approaching its lowest level in 9 months

  

  The dollar fell against the Japanese yen on Friday, as traders bet that the Bank of Japan’s monetary policy tightening is still imminent. The dollar also fell to approaching a nine-month low against the euro, amid expectations in the market that the European Central Bank will announce next week an …

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• 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, …

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• 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 …

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