Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 2 February 2023 8:34 pm

  Bitcoin Prices touch fresh 5-Month High

  

  Bitcoin prices touched their highest since mid-August last night. Bitcoin prices even climbed last night, surpassing $24,000 and rising to their loftiest value since mid-August.The world’s most prominent digital currency reached $24,243.80 around 8 p.m. EST, according to CoinDesk data. At this point, the cryptocurrency had climbed over 6% in …

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• 2 February 2023 7:30 pm

  Gold price gives up Wednesday’s gains on BoE, ECB decisions

  

  Gold seems unable to benefit from the falling US Treasury. On the other hand, the US dollar recovered some ground, on the back of the Euro and Pound Sterling fall. On Wednesday, the US Federal Reserve hiked rates by 25 bps and signaled it is about to end its cycle. …

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• 2 February 2023 7:22 pm

  Euro falls after ECB rate decision

  

  The Euro fell against the Dollar on Thursday after the European Central Bank raised interest rates by 50 basis points in line with expectations while the Bank of England adopted a softer tone on inflation. The ECB plans to raise rates by the same amount at least once more next …

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• 2 February 2023 7:07 pm

  US: Weekly Initial Jobless Claims decline to 183K

  

  There were 183,000 initial jobless claims in the week ending January 28, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 186,000 and came in better than the market expectation of 200,000. Further details of the publication …

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• 2 February 2023 7:03 pm

  Q4’s US preliminary nonfarm productivity above expectations

  

  The US labour productivity rose for the second consecutive quarter in 2022’s fourth quarter, although for the year as a whole productivity posted its biggest decline in nearly five decades.US nonfarm labour productivity which is a measure of goods and services produced in the US per hour worked, rose at …

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• 2 February 2023 4:55 pm

  Bailey speech: Will re-evaluate policy if the economy evolves in live with central forecasts

  

  Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 4% in February. “Change in language reflects a turning in the corner but very …

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• 2 February 2023 4:01 pm

  Breaking: BOE hikes policy rate by 50 bps to 4% as expected

  

  Following its February policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 50 basis points (bps) to 4% as expected. Economists suggest this move could be the last big rate increase for Britain’s central bank, which has approved 10 consecutive hikes since a post-pandemic surge in …

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• 2 February 2023 2:20 pm

  Oil rises with the decline of the dollar and OPEC+

  

  Oil prices rebounded on Thursday after falling in the previous session, as dollar weakness restored some appetite for risky assets and OPEC+’s decision to continue production cuts helped quell oversupply fears. By 0353 GMT, Brent crude futures rose 65 cents, or 0.8 percent, to $ 83.49 a barrel, while West …

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• 2 February 2023 1:10 pm

  BoE Preview: Forecasts from four major banks

  

  The Bank of England (BoE) will announce its interest rate decision on Thursday, February 2 at 12:00 GMT, publishing the Minutes of the meeting and Monetary Policy Report (MPR) alongside. As we get closer to the release time, here are the expectations forecast by the economists and researchers of four …

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• 2 February 2023 12:30 pm

  Nikkei closed higher, supported by technology stocks

  

  The Japanese Nikkei index closed slightly higher on Thursday, supported by technology stocks, after the Nasdaq index jumped on Wednesday night, while the rise of the yen affected exporters and limited the index’s rise. The Nikkei index rose 0.2 percent to close at 27,402.05 points. Of the stocks listed on …

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• 2 February 2023 6:26 am

  Market Drivers On Fed’s Day – US Session 01/02/2023

  

  The US Dollar weakened after the US Fed’s monetary policy decision. The FOMC policymakers decided to hike rate by 25 basis points in line with wide expectations. The FOMC statement indicated that policymakers changed the wording on inflation, noting that it “has eased somewhat but remains elevated,” although there were …

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• 2 February 2023 6:10 am

  WTI tries to benefit from weaker US dollar

  

  The WTI crude oil hovers around three-week low after falling the most in a month. Wednesday witnessed climbing EIA Crude Oil stocks as an additional mixed clue surrounding global economic scene that is tending to favour oil bears.WTI crude oil managed to trim latest losses around the three-week low as …

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• 2 February 2023 3:00 am

  Has FOMC Decision Dragged US Dollar Index Lower?

  

  The US Dollar Index hit lowest level in almost three weeks on Fed’s dovish hike. The Federal Reserve’s decision came in line with 0.25% rate hike expectations but the dovish signals came in Jerome Powell’s remarks about easing inflation in the United States, these signals were most welcome by DXY …

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