Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 9 January 2023 2:52 pm

  Dollar near its lowest level in seven months after the jobs data

  

  On Monday, the dollar approached its lowest level in seven months against other major currencies, after data last week showed that the Federal Reserve may slow the pace of decisions to raise interest rates, while the reopening of Chinese borders boosted higher-risk currencies. The yuan in foreign transactions approached its …

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• 9 January 2023 1:12 pm

  European stocks rise with support for reopening in China

  

  European stocks rose on Monday, extending a positive start to the year for a second week, as China reopened its borders and US and European data eased concerns about the aggressive tightening of monetary policy by central banks. The pan-European Stoxx 600 index was up 0.3 percent by 0812 GMT. …

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• 9 January 2023 11:30 am

  German Industrial Production rises in November

  

  Industrial Production in Germany increased in November, the official data showed on Monday, suggesting that the manufacturing sector is showing some signs of recovery. Eurozone’s economic powerhouse’s Industrial Output rose by 0.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs -0.1% prior. …

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• 9 January 2023 11:19 am

  Stability of USD as investors assess the path of raising interest rates

  

  The dollar stabilized on Monday after investors digested a batch of economic data released last week that raised hopes that the Federal Reserve would slow the pace of interest rate hikes. Data on Friday showed that non-farm payrolls in the United States increased by 223 thousand jobs in December, while …

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• 9 January 2023 10:29 am

  Oil prices rise after China opens its borders

  

  Oil prices rose on Monday, a day after an influx of travellers into China following the reopening of borders raised expectations for fuel demand and partially offset fears of a global recession. Brent crude futures rose 90 cents, or 1.2 percent, to $79.47 a barrel by 0520 GMT, while US …

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• 9 January 2023 5:42 am

  Financial Markets’ Weekly Recap, January 2-5

  

  Wall Street’s major indices closed higher on Friday, supported by reports that although jobs increased in the United States more than expected, wage increases slowed and services activity contracted, easing concerns about the path of interest rate hikes by the Federal Reserve. The data published by Automatic Data Processing (ADP) …

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• 7 January 2023 11:24 pm

  What Could New House Speaker McCarthy Mean For Financial Markets?

  

  Kevin McCarthy, the California Republican, is officially the new speaker of the US House after a hot Capitol Hill drama that continued for almost four days and 15 rounds of votes. If the House chaos for electing a new speaker had continued for weeks, the financial markets could have worried …

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• 6 January 2023 11:59 pm

  US Treasury yields retreat on wage growth data

  

  Friday’s US economic data produced a cascading drop in rates across the Treasury market, pushing the policy-sensitive 2-year and benchmark 10-year yields to their lowest levels of the new year. The 2-year yield which moves in coordination with expectations around the path of Fed’s policy, fell 19.1 basis points to …

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• 6 January 2023 10:56 pm

  US stocks jump as NFP data eases rate policy worries

  

  The nonfarm payrolls rose by 223,000 jobs in December according to the data announced by the US Labour Department while a 0.3% rise in average earnings was smaller than expected and lower than the previous month.The numbers for November were revised to show nonfarm payrolls rose by 256,000 and average …

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• 6 January 2023 9:57 pm

  Fed’s Bostic: US economy is definitely slowing

  

  Atlanta Federal Reserve bank president Raphael Bostic said on Friday that how the economy evolves will shape what the Federal Reserve has to do, as reported by Reuters.The US dollar continues to weaken against its rivals following these comments and the US Dollar Index was last seen losing 0.9% on …

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• 6 January 2023 8:52 pm

  Gold prices soar, surpassing $1,860 following solid NFP data

  

  Gold prices have extended its gains after the US Nonfarm Payrolls showed the US economy added more jobs than estimates while the rate of unemployed Americans edged lower. At the time of writing, XAU/USD trades volatile around $1,861 per ounce versus the previous closing price at 1832.49. The US Bureau …

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• 6 January 2023 7:54 pm

  USD/JPY impacted by US dollar’s weakness following NFP data

  

  US Nonfarm Payrolls data for December weakened the US Dollar, even though the labour market remains tight. Average Hourly Earnings easing sparked speculations for a dovish move of the Federal Reserve in the February meeting.The USD/JPY pair has remained downward biased below 133.00. The pair also struggles at the 200-day …

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• 6 January 2023 6:07 pm

  US Nonfarm Payrolls rise by 223,000 in December vs. 200,000 expected

  

  Nonfarm Payrolls in the US rose by 223,000 in December, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000 and followed November’s increase of 256,000 (revised from 263,000). Further details of the publication revealed …

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