Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 17 January 2023 6:25 pm

  Oil prices are at a two-week high supported by expectations of a recovery in Chinese demand

  

  Oil prices rose to a two-week high on Tuesday after China reported weak economic growth data that beat expectations, supported by hopes that Beijing’s change in policy to combat COVID-19 will boost fuel demand. By 1224 GMT, Brent crude futures rose $1.14, or 1.4 percent, to $85.60 a barrel. West …

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• 17 January 2023 4:57 pm

  Sterling rose with the growth of wages in Britain and the yen near the highest level in 7 months

  

  The British pound rose on Tuesday after data showed that wage growth in Britain, which the Bank of England watches closely to determine the pace of interest rate hikes, accelerated again. The yen held near its highest levels in seven months, with investors holding their breath in anticipation of a …

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• 17 January 2023 2:50 pm

  The acceleration of wage growth in Britain raises the Bank of England’s concern about inflation

  

  The pace of wage growth in Britain, which the Bank of England monitors closely to determine the pace of interest rate hikes, accelerated in the three months to November, official data showed on Tuesday. Wages excluding bonuses rose 6.4% year-on-year in the September-November period, the biggest increase since records began …

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• 17 January 2023 2:45 pm

  European stocks stabilize after Chinese data raised concerns about the economy

  

  European stocks stabilized on Tuesday, after investor fears of an economic slowdown after China recorded its weakest annual growth rate in nearly 50 years outweighed gains in industrial stocks. And by 0815 GMT, the European Stoxx 600 index was stable, after reaching a nine-month high in the previous session. Asian …

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• 17 January 2023 12:46 pm

  Oil prices mixed amid weak Chinese economic data

  

  Oil prices were mixed on Tuesday after China posted its weakest annual economic growth in nearly half a century, while a shift in its tough anti-COVID-19 policy in late 2022 raised hopes for a recovery in fuel demand in the world’s largest crude importer this year. Brent crude futures rose …

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• 17 January 2023 3:16 am

  Market Drivers – US Session, January 16

  

  A significant amount of optimism seemed to weaken at the beginning of this quiet week, with US markets closed observing Martin Luther King holiday. The dollar managed to recover ahead of the daily close but ended the day with modest gains against most major rivals, and it is still at …

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• 17 January 2023 1:49 am

  Bitcoin abandons fear zone for first time in 9 months

  

  Bitcoin’s famous Fear and Greed Index moved into the neutral territory over the weekend following several months of persistent fear. On Tuesday, Bitcoin was trading up 2.2% on the day at $21,165m, before sliding to $21138.00, up by (+1.21%) at the time of writing versus the previous closing price of …

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• 16 January 2023 11:22 pm

  NZD/USD holds near strongest levels in a month

  

  The NZD/USD pair is flat into the early close on Wall Street. Traders will look to the Q4 NZIER QSBO survey. The pair moved between a low of 0.6361 and a high of 0.6426, currently flat on the day hovering near its strongest levels in a month.The NZD benefitted in …

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• 16 January 2023 10:37 pm

  WTI crude falls amid thin trading

  

  WTI crude oil retreated below the $80 level and is trading at $79.08 versus the previous closing price of $80.24 per barrel at the time of writing despite the positive comments by UAE energy minister on the sidelines of Atlantic Council’s Global Energy Forum in Abu Dhabi over the weekend.UAE …

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• 16 January 2023 8:45 pm

  Gold approaching record highs as rate hikes approach their end

  

  Gold prices are expected to rise towards record highs above $2,000 per ounce this year, with a little turbulence, as the United States slows the pace of rate hiking and eventually stops increasing them, according to industry analysts.Spot prices of the precious metal have shot above $1,900 an ounce, surging …

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• 16 January 2023 7:31 pm

  ECB’s Rehn: Acting Swiftly Now Can Avoid Volcker Shock

  

  European Central Bank Governing Council member Olli Rehn said frontloading interest-rate increases to eliminate inflation could mean that ECB’s policymakers do not have to take even more drastic action down the line.“By acting swiftly now, we should be able to avoid what is often called a ‘Volcker shock’,” he said …

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• 16 January 2023 5:19 pm

  Russia’s revenues from oil and gas increased in 2022

  

  Russian Deputy Prime Minister Alexander Novak said today, Monday; Russia’s revenues from crude oil and natural gas increased by about 28% in 2022, in addition to an increase in oil exports by 7% and oil production by 2%. Also, Novak mentioned that Russia’s production and exports of liquefied natural gas …

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• 16 January 2023 5:18 pm

  Toyota to produce 10.6 million cars globally in 2023, biggest output

  

  Toyota Motor Corp. said Monday it aims to produce as many as 10.6 million vehicles in 2023, which could be its highest output. The Japanese auto giant added, however, that the final figure could be as much as 10 percent lower due to potential disruptions in the supply of parts. …

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