Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 11 January 2023 12:37 am

  Canada’s dollar weakens ahead of US inflation data

  

  The Canadian dollar weakened against its US counterpart on Tuesday, as it pulled back from a six-week high as investors await Thursday’s CPI data in the United States. The awaited reading could offer clues on the Fed’s policy intentions. The price of oil, one of Canada’s major exports, settled 0.7% …

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• 10 January 2023 11:18 pm

  ECB’s Centeno: End of interest rate rise process is approaching

  

  The European Central Bank’s governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end.The ECB’s policymaker added “even though inflation may have some resistance in January and February it will resume falling in March.”EUR/USD pair is trading at 1.0741 at the …

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• 10 January 2023 10:20 pm

  Crude oil rises for fourth session in a row

  

  WTI crude oil rose for a fourth-straight session, on Tuesday. WTI price is boosted by optimism due to the reopening of China’s borders. The Federal Reserve is expected to finetune the pace of future rate hiking in the light of Thursday’s reading of Consumer Price Index, in focus. The US …

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• 10 January 2023 9:50 pm

  Fed’s Bowman: More rate rises needed to combat high inflation

  

  Fed’s Michelle Bowman said on Tuesday the US central bank will have to raise interest rate further to combat high inflation. These remarks come a slew of hawkish remarks from other Fed speakers this week. “Inflation is much too high,” she added.She also noted that “while the effects of monetary …

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• 10 January 2023 8:47 pm

  EUR/GBP expected to edge higher over coming months

  

  The EUR/GBP pair has paid little attention to the news related to Northern Ireland this week although, this week’s news provides a glimmer of hope for the outlook regarding the Northern protocol and consequently for an improvement in investor sentiment, as the factors impacting the UK economic backdrop remains sour.The …

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• 10 January 2023 8:27 pm

  World Bank Cuts 2023’s Global Growth Projection

  

  The World Bank sharply cut the global economy’s growth forecast for 2023 as a result of the prevalent persistently high inflation and on the back of accelerating worldwide recession-linked concerns.The bank expects global growth to slow to 1.7% in 2023, down from an estimate of 3% growth in June. That …

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• 10 January 2023 7:42 pm

  Powell reiterates need for Fed’s political independence

  

  Fed Chair Jerome Powell said that stabilizing prices requires making tough decisions that can be unpopular politically. Powell on Tuesday emphasized the need for the central bank to be free of political influence while it tackles persistently high inflation.Powell’s speech did not contain any direct clues about where policy is …

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• 10 January 2023 6:33 pm

  Powell speech: We are not and will not be a climate policymaker

  

  While speaking at Riksbank’s International Symposium on Central Bank Independence, FOMC Chairman Jerome Powell said the Federal Reserve’s independence from political influence is central to its ability to battle inflation, as reported by Reuters. Powell further noted that this independence requires the Fed to stay out of issues like climate …

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• 10 January 2023 5:11 pm

  Gold steady as investors focus on Powell speech for rate guidance

  

   Gold prices held steady on Tuesday as traders looked ahead to U.S. Federal Reserve Chair Jerome Powell’s upcoming speech for more clarity about the central bank’s rate-hike plans. Spot gold was little changed at $1,870.89 per ounce by 1251 GMT, trading in a narrow $10 range. U.S. gold futures were …

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• 10 January 2023 5:10 pm

  Microsoft in talks to invest $10 bln in ChatGPT owner Semafor

  

  Microsoft Corp (MSFT.O) is in talks to invest $10 billion into OpenAI, the owner of ChatGPT, which will value the San Francisco-based firm at $29 billion, Semafor reported on Monday, citing people familiar with the matter. The funding includes other venture firms and deal documents were sent to prospective investors …

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• 10 January 2023 2:38 pm

  Dollar fell with the easing of concerns about raising interest rates and optimism about China

  

  The dollar fell to near its lowest levels in 7 months against the other major currencies on Tuesday, January 10, influenced by investor optimism that the Federal Reserve may be close to ending the cycle of increasing interest rates and with the increasing demand for risky assets after the lifting …

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• 10 January 2023 2:14 pm

  European stocks fall amid caution about US interest

  

  European stocks fell on Tuesday as investors became cautious ahead of a speech by Federal Reserve Chairman Jerome Powell after two US central bank monetary policymakers expected more interest rate hikes. The Stoxx Europe 600 index was down 0.7 percent by 0811 GMT, after hitting an eight-month high in the …

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• 10 January 2023 12:41 pm

  Nikkei closed at the highest level in two weeks supported by technology stocks

  

  The Nikkei index of Japanese stocks closed at its highest level in two weeks on Tuesday, thanks to a jump in technology stocks, but caution ahead of the Bank of Japan meeting next week limited gains. The Nikkei index ended trading up 0.78 percent at 26,175.56 points, its highest level …

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