Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 26 January 2023 2:27 am

  AUD/USD hit 5-month on CPI data

  

  The Australian dollar surged to a fresh five-month high at 0.7122 against the US dollar on Wednesday, after the Australian inflation data that paved the way for additional policy tightening by the Reserve Bank of Australia. Except for the Australian dollar, risk aversion keeps high beta currencies pressured. Hence, the …

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• 26 January 2023 1:11 am

  Before crucial US data, US dollar nearing its breaking point.

  

  Bulls in the US dollar are hiding at a key support level.In the following few days, the Dollar is expected to encounter weekly negative mood resulting in a bullish correction with the 38.2% Fibonacci target positioned around 103.10.The Fed’s intentions and awaited US data will be crucial in determining the …

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• 26 January 2023 12:26 am

  No easy way out from US debt ceiling noise

  

  Republicans are still divided over to what extent they should adopt hardline stance on the US debt ceiling, but the significant development is that they were united on Wednesday in one remarkable thing; namely their uniform demand that the Democratic President Joe Biden should agree to negotiate on spending as …

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• 25 January 2023 11:19 pm

  Dow falls for the first time in four sessions amid earnings season

  

  US stocks fell on Wednesday after the latest corporate earnings that fueled existing concerns that some of the most outstanding US companies are struggling amid successive rate hikes and recession concerns.The Dow Jones Industrial Average snapped three days of gains, last down 80 points, or 0.24%. The Nasdaq Composite retreated …

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• 25 January 2023 9:30 pm

  What could Boeing earnings mean to stock markets?

  

  Boeing stock is trading lower on Wednesday as the aerospace and defense company reported a fourth-quarter revenue miss and surprise earnings per share loss. For the quarter, Boeing delivered 152 airplanes in its commercial division, a jump of over 50% compared to a year ago. Boeing’s 110 737 planes were …

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• 25 January 2023 8:13 pm

  BOC’s Macklem: Time to pause, assess whether policy is sufficiently restrictive

  

  Following the Bank of Canada’s decision to raise the policy rate by 25 basis points to 4.5%, Bank of Canada (BoC) Governor Tiff Macklem delivers his remarks on the policy outlook and responds to questions. Key Remarks “Bank of Canada has raised rates rapidly, now it’s time to pause and …

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• 25 January 2023 7:38 pm

  USD/CAD hits weekly highs after BoC rate decision

  

  The Bank of Canada has raised rates as expected, however, the Canadian dollar weakens after the rate policy announcement.The USD/CAD pair jumps but then pulls back toward 1.3400. the pair is trading at 1.3419, at the time of typing. The USD/CAD jumped by more than 50 pips after the decision …

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• 25 January 2023 7:21 pm

  USD/CAD hits weekly highs post BoC

  

  The USD/CAD jumped by more than 50 pips after the decision of the Bank of Canada and climbed to 1.3425, reaching the highest level since last Friday. The Bank of Canada, as expected, raised the key interest rate by 25 basis points to 4.5%. In the statement, the central banks …

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• 25 January 2023 7:04 pm

  Bank of Canada hikes policy rate by 25 bps to 4.5%

  

  The Bank of Canada (BoC) announced on Wednesday that it hiked its benchmark interest rate by 25 basis points to 4.5% following the January policy meeting. This decision came in line with the market expectation. In its policy statement, the BoC noted that it is likely to hold the rate …

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• 25 January 2023 5:04 pm

  Tech pushes European stocks lower amid weak earnings

  

  European stocks fell on Wednesday as weak results from US software giant Microsoft weighed on the broader technology sector, while signs of improving economic prospects in the euro zone fueled concerns about further interest rate hikes. The European Stoxx 600 index fell 0.3 percent, recording a decline for the second …

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• 25 January 2023 2:49 pm

  German IFO Business Climate Index rises to 90.2 in January

  

  The headline German IFO Business Climate Index advanced to 90.2 in January versus the previous reading of 88.6 and the forecast of 90.2. Meanwhile, the Current Economic Assessment dropped to 94.1 points in the reported month as against December’s 94.4 and 95.0 expected. The IFO Expectations Index – indicating firms’ …

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• 25 January 2023 2:48 pm

  Oil decline on US inventories and hopes for a recovery in Chinese demand

  

  Oil prices fell on Wednesday, adding slightly to losses in the previous session, as rising US crude inventories and fears of a global recession offset optimism about a recovery in demand in China. Crude oil prices have risen this year amid China ending anti-coronavirus restrictions and hopes the Federal Reserve …

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• 25 January 2023 1:22 pm

  Gold falls as traders seek to secure profits ahead of US economic data

  

  Gold fell on Wednesday, continuing the decline from a level close to a nine-month peak, which it reached in the previous session, as some investors sought to speculate in a way that guarantees them profit. The dollar stabilized ahead of the release of US economic data that may determine the …

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