Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 23 February 2023 8:11 pm

  What kind of hikes could be potential following FOMC Minutes?

  

  Two more 25 bps rate hikes in March and May could result in a terminal 5.00%-5.25% by May. The FOMC meeting minutes provided additional information about the Fed’s committee’s decision to hike rates by 25 bps in February. Economists are now looking forward to a 5.25% terminal rate at the …

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• 23 February 2023 7:14 pm

  Friday’s PCE data will be next chance for gold’s trend change

  

  Gold price triggered another bearish run after FOMC Minutes showed a hawkish stance by Fed officials. The US dollar stays dominant across the board despite US Gross Domestic Product disappointing on the second estimate for Q4 2022.Gold price keeps trending lower on Thursday after a bearish Wednesday, where the precious …

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• 23 February 2023 5:58 pm

  PCE Report to Deliver Fireworks for the Market

  

  Rates may need to increase significantly, according to the February Fed minutes. Despite a holiday-shortened business week, there will still be plenty of market-moving information available. On Wednesday, the FOMC minutes will be made public, and on Friday, PCE inflation data and the University of Michigan Inflation Forecasts will be …

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• 23 February 2023 4:43 pm

  Nvidia guidance stokes hopes on bottom in chip demand after Q4 results beat

  

  Nvidia said better times are ahead for its chipmaking business, sensing a huge opportunity for its high-performance chips amid a growing frenzy for the new generation of artificial intelligence tools. “AI is at an inflection point, setting up for broad adoption reaching into every industry,” chief executive Jensen Huang said …

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• 23 February 2023 4:14 pm

  The Turkish Central Bank cuts interest rates to 8.5%

  

  Turkey’s central bank cut interest rates on the lira by 50 basis points from 9% to 8.5% in February, after the devastating earthquake that claimed more than 45,000 lives. This cut came in line with analysts’ expectations of 8.5%. Turkey’s central bank cut its key interest rate by 500 basis …

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• 23 February 2023 3:07 pm

  US Dollar stabilized near the highest level in several weeks

  

  The dollar settled below a multi-week high against other major currencies on Thursday, a day after it received support from the latest Federal Reserve minutes that did not change the market’s expectations that the US central bank will raise interest rates further. The euro settled at $ 1.0606, slightly above …

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• 23 February 2023 3:03 pm

  Ministry of Defense: China will not participate in a nuclear arms race with any country

  

  China will not engage in a nuclear arms race with any country, and will always keep its nuclear force at the minimum level that meets national security requirements, said Tan Kefei, spokesman for the Chinese Ministry of Defense, at a press conference Thursday. Tan was responding to a reporter’s request …

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• 23 February 2023 2:55 pm

  Italian Eni recorded the highest profits in more than 10 years in 2022

  

  Italian energy group Eni said on Thursday its adjusted net profit rose to 13.3 billion euros ($14.12 billion) in 2022, its highest profit in more than a decade, but its shares fell as markets focused on weak exploration and production activity in the fourth quarter of the year. Adjusted net …

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• 23 February 2023 1:52 pm

  Gold rose as US Dollar fell and interest rate expectations limited gains

  

  Gold prices rose on Thursday, supported by a slight decline in the dollar, but the odds that interest rates in the United States will remain high for a longer period limit the gains of the yellow metal. Gold in instant transactions rose 0.3 percent to $ 1830.90 an ounce by …

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• 23 February 2023 1:35 pm

  European stocks opened higher, supported by chipmakers

  

  European stocks opened higher on Thursday as chipmakers rose on expectations of increased sales from US semiconductor company Nvidia. Shares of ASM International, BE Semiconductor and Extron rose between 1.6 and 3.2 percent, boosting the European technology sector 0.9 percent. Nvidia Corp. projected first-quarter revenue higher than Wall Street estimates …

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• 23 February 2023 11:58 am

  Telekom reports Q4 growth, forecasts slightly higher earnings in 2023

  

  Deutsche Telekom reported better-than-expected fourth-quarter earnings on Thursday, citing customer growth in Germany and strong performance from T-Mobile US, and forecast a slight rise in profits this year. Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) of 9.96 billion euros ($10.58 billion) for the quarter, slightly …

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• 23 February 2023 11:22 am

  Oil prices go up, ending six days of losses

  

  Oil prices rose slightly in weak Asian trade on Thursday, ending six days of losses fueled by growing concerns that higher interest rates by central banks could squeeze economic growth and boost fuel demand. And by 0110 GMT, Brent crude futures rose two to $ 80.62 a barrel. West Texas …

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• 23 February 2023 2:43 am

  Market Drivers – US Session 22/02/2023

  

  The US Dollar benefited from the hawkish FOMC Minutes, accelerating its move by the end of the US trading session. The document showed that a few participants favored a 50 basis point (bps) rate hike, while some believed there was an elevated risk of a recession in 2023.Key DevelopmentsAll FOMC …

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