Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 21 January 2023 1:05 am

  Expected Chinese Rising Demand Pushes Oil prices Higher

  

  According to the International Energy Agency, lifting COVID-19 restrictions in China is expected to increase global oil demand to a record high this year.WTI crude oil futures edged higher on Friday, putting the market in a position to post a second straight weekly gain. The catalysts triggering this price action …

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• 20 January 2023 11:54 pm

  AUD/USD reclaimed 0.6970 on weaker US dollar

  

  The market’s risk-on impulse favoured risk sensitive currencies including the NZD, CAD, NOK, SEK and of course the Australian Dollar. The US housing market continues to deteriorate, as shown by declining Existing Home Sales.Fed’s policymakers favour a deceleration of rate hikes, though the higher-for-longer stance remains unchanged. The AUD/USD pair …

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• 20 January 2023 10:47 pm

  Gains On Wall Street Boosted By Alphabet, Netflix

  

  US indexes surged on Friday after Netflix kicked off the earnings season for growth stocks with positive move, while Google parent Alphabet gained on news of job cuts.Shares of Netflix jumped 6.8% as the company added more subscribers than expected in the Q4 and said co-founder Reed Hastings was stepping …

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• 20 January 2023 9:41 pm

  What could BoC’s Wednesday meeting impact the Canadian Dollar?

  

  The CAD/USD pair is trading at 1.3412 at the time of writing versus the previous closing at 1.3463, down by -0.40%. Next Wednesday, the BoC will hold its monetary policy meeting. Analysts expect a 25-basis points rate hike in line with market consensus. They point out the Canadian dollar may …

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• 20 January 2023 8:37 pm

  Ericsson’s Q4 Earnings Miss Expectations

  

  Ericsson AB reported Q4 earnings on Friday. The Swedish company reported net profit attributable to shareholders of 6.07 billion Swedish kronor ($588.2 million) compared with SEK10.08 billion a year earlier. Analysts polled by FactSet expected net profit of SEK7.05 billion.Sales rose 21% to SEK86.0 billion versus the SEK84.78 billion expected …

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• 20 January 2023 7:32 pm

  GBP slides on weak retail sales data

  

  The British pound fell on Friday after weak retail sales data reminded investors about the gloomy outlook for the British economy.Sterling was down 0.26% against the dollar at $1.236. That was below a $1.244 peak touched on Thursday, which was itself not far off the highest level since October 2022. …

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• 20 January 2023 5:46 pm

  Alphabet plans to lay off 12,000 employees

  

  Alphabet, the parent company of Google, said it would lay off 12,000 employees, about 6% of the company’s global workforce. Amazon and Microsoft had previously announced layoffs of 18,000 and 10,000 employees, respectively. The company’s CEO, Sundar Pichai, told employees in an email today that he takes “full responsibility for …

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• 20 January 2023 4:36 pm

  UK Retail Sales fall 1.0% MoM in December

  

  The UK Retail Sales arrived at -1.0% over the month in December vs. -0.5% previous. The Core Retail Sales, stripping the auto motor fuel sales, fell by 1.1% MoM vs. -0.3% previous. On an annualized basis, the UK Retail Sales plunged 5.8% in December versus -5.7% prior while the Core …

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• 20 January 2023 4:34 pm

  Netflix blows away expectations on subscriber numbers

  

  Netflix added millions more subscribers in the fourth quarter than Wall Street expected, helping to send shares of the streamer up after the bell despite a big earnings miss. The company also disclosed that co-CEO Reed Hastings would be stepping down from his position and transitioning to the post of …

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• 20 January 2023 4:32 pm

  Procter & Gamble revenue and profit fall

  

  Procter & Gamble reported year-over-year declines in revenue and profit on Thursday, as higher prices look to offset declining sales volumes and foreign exchange headwinds. Here’s how P&G performed in its fiscal second quarter of 2023 compared with what Wall Street anticipated, based on an average of analysts’ estimates compiled …

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• 20 January 2023 2:34 pm

  European stocks rise on optimism about reopening in China

  

  European stocks rose on Friday as bullish investors weighed the potential impact of the week-long Lunar New Year holiday after China lifted restrictions imposed to curb the spread of COVID-19, but fears of a global economic slowdown continued to dampen sentiment. The pan-European Stoxx 600 index was up 0.2 percent …

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• 20 January 2023 1:34 pm

  Japanese Nikkei index closed higher

  

  Japan’s Nikkei erased early losses to close higher on Friday, as sentiment was boosted by a rise in US futures after Wall Street’s losses Thursday night, as well as a decline in the yen. The Nikkei ended the session up 0.56% to 26,553.53 points, after it had fallen 0.3% earlier …

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• 20 January 2023 11:58 am

  Dollar is near its lowest level in 7 months

  

  The US dollar hovered near seven-month lows on Friday as fears of an economic slowdown dampened risk appetite, while the yen weakened even as speculation mounted that the Bank of Japan will eventually abandon its ultra-loose monetary policy. The dollar index, which measures the performance of the greenback against six …

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