Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 15 February 2023 4:18 pm

  Glencore announces £5.8bn payout to shareholders after record profit

  

  Glencore has announced a £5.8bn ($7.1bn) payout to shareholders after posting “record profits” in its full-year 2022 results, powered by its coal and trading divisions. Revenue for the Swiss-based mining multinational came in at $255.9bn in 2022, a surge of 26% from the previous year. The miner will now hand …

  Read More »
• 15 February 2023 2:57 pm

  Barclays shares tumble 9% as profit disappoints

  

  Barclays reported a 14% fall in full-year pretax profit on Wednesday as earnings were poleaxed by surging costs, a collapse in deal fees and multi-million dollar fines relating to an administrative blunder. Earnings fell short of expectations and came as rising interest rates should be boosting returns, sending shares in …

  Read More »
• 15 February 2023 2:52 pm

  European shares opened lower, with shares of Barclays and Craing falling

  

  European stocks opened lower on Wednesday, with British bank Barclays falling after it reported disappointing earnings and French luxury group Kering falling after revenue from its Gucci brand slumped. The Stoxx Europe 600 index fell 0.3 percent, while Barclays fell 8.1 percent to the bottom of the index. The banking …

  Read More »
• 15 February 2023 12:51 pm

  Nikkei index is falling with the decline in US stock futures

  

  The Nikkei fell on Wednesday, tracking lower US stock futures as investors digested hawkish rhetoric from the Federal Reserve (Central Bank of America) after the US inflation report. A jump in US bond yields overnight contributed to the rise in Japanese bank stocks, but hurt real estate stocks. The Nikkei …

  Read More »
• 15 February 2023 11:02 am

  Oil falls after data indicated a jump in US crude stocks

  

  Oil prices fell in early Asian trade on Wednesday, after falling more than $1 a barrel in the previous session, as industry data pointed to a much larger-than-expected build in US crude inventories. Brent crude futures fell 20 cents to $85.38 a barrel by 0111 GMT, while US West Texas …

  Read More »
• 15 February 2023 10:40 am

  Gold fell amid concerns after US inflation data

  

  Gold prices fell on Wednesday with the rise of the dollar after data showed that inflation rose in the United States last month at the slowest pace since late 2021, which increased investor concerns about the Federal Reserve (US Central Bank) continuing to tighten monetary policy. Spot gold prices fell …

  Read More »
• 15 February 2023 5:34 am

  Market Drivers – US Session, Assets React To Tuesday’s CPI

  

  Almost all financial markets traded with an optimistic yet cautious mode throughout the first half of the day, as investors awaited the release of US inflation figures. Economic DataThe United States Consumer Price Index rose at an annualized pace of 6.4% in January, better than the previous 6.5% but missing …

  Read More »
• 15 February 2023 4:22 am

  RBA Lowe: Inflation is way too high, needs to come down

  

  The Reserve Bank of Australia’s governor Philip Lowe said inflation is way too high and that it needs to come down.The AUD/USD pair holds lower ground near 0.6980 after Philip Lowe’s Testimony during the mid-Asian session on Wednesday. The pair appears to give more weight to the hawkish Fed signals …

  Read More »
• 15 February 2023 12:50 am

  What Critical Data Does Mid-February Bring To Energy Market?

  

  The White House’s unsuccessful attempt to cancel the fiscal year 2023 sale of 26 million barrels of crude kept in US strategic petroleum stocks has provided an unexpected downside for oil price this week, with the ICE Brent-WTI spread widening further to $6.5 per barrel. On the other side, OPEC’s …

  Read More »
• 14 February 2023 11:58 pm

  USD/CAD shyly rises after CPI data

  

  The USD/CAD pair broke two days of losses and rose towards 1.3350s on US inflation data. The US Consumer Price Index for January was mixed, with MoM aligned with estimates, while YoY figures were above forecasts. The USD/CAD pair braces to its early gains in the day, though it retreated …

  Read More »
• 14 February 2023 11:10 pm

  Fitch Expects Weaker US Labour Demand On Interest Rate Hikes

  

  The US labour demand will weaken on rising interest rates, south-dominated jobs recovery according to Fitch Ratings. Fitch Ratings expects the US labour market to weaken as aggregate demand stagnates over the course of the year in response to the lagged effects of higher interest rates, according to a new …

  Read More »
• 14 February 2023 10:03 pm

  Wall Street falls after inflation cools by less than hoped

  

  Wall Street is slumping Tuesday after CPI report suggested inflation may not be slowing as quickly and as smoothly as hoped. The S&P 500 was 1% lower in midday trading, while yields shot higher in the bond market as investors braced for the Federal Reserve get firmer on interest rates …

  Read More »
• 14 February 2023 9:00 pm

  USD/JPY reclaims 133.00 after CPI data

  

  The USD/JPY pair registers gains of 0.50%, above the 133.00 mark. US inflation data, though mixed, triggered the recent US Treasury bond yields’ jump, pushing the USD/JPY forward.The USD/JPY reached a new YTD high of 133.13, though it failed to cling to those gains, retracing beneath last week’s high of …

  Read More »