Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 22 February 2023 8:30 pm

  Gold prices hold firm ahead of the FOMC minutes

  

  Gold holds firm at around $1,835 as traders awaiting Fed minutes. Money market futures began to price in interest rates in the US in the 5.25%-5.50% range.Gold price recovers some ground, though it remains almost flat compared to its opening price. However, it clings to minimal gains before the release …

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• 22 February 2023 7:28 pm

  US Dollar Expected To Reap Gains If FOMC Minutes Adopt Hawkish Tone

  

  Economists and analysts see that the US dollar is trading narrowly mixed. They also believe that a hawkish tone in FOMC Minutes could push the dollar higher. There are no major data releases scheduled for US session on Wednesday. However, the Fed releases the Feb 1 FOMC minutes. The chances …

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• 22 February 2023 5:44 pm

  Wall Street climbs as investors await the minutes of the Federal Reserve meeting

  

  Wall Street’s major indices opened higher on Wednesday, a day after their worst performance this year, as investors await minutes from the Federal Reserve’s policy meeting in search of new clues to the path of interest rates. The Dow Jones industrial average advanced 39.74 points, or 0.12 percent, to 33,169.33 …

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• 22 February 2023 4:57 pm

  Morgan Stanley ups 2023 oil demand growth estimate by 36%, flags Russia risk

  

  By pointing to increasing momentum in China’s economy and a rebound in aviation, Morgan Stanley has increased its projection for this year’s global oil demand growth by approximately 36%. But, it has also noted greater production from Russia as an offsetting factor. The bank stated in a report dated Tuesday …

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• 22 February 2023 4:24 pm

  Higher car prices drive Stellantis to 2022 net profit beat

  

  Stellantis NV announced a new share buyback program for 2023 after the automaker posted better-than-expected annual profit, thanks to price hikes that helped outweigh lower car shipments in Europe and elevated input costs. The automaker formed from a merger between Fiat Chrysler and Peugeot-owner PSA Group in 2021 reported a 26% year-on-year jump …

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• 22 February 2023 3:40 pm

  Danone eyes better margins in 2023, Q4 sales top estimates

  

  Shares in Danone SA rose on Wednesday after the French food products group reported better-than-expected fourth quarter sales that were fueled by higher prices. Total sales during the three months to the end of December jumped by 12% on a reported basis to €7.01B (€1 = $1.0644), mainly driven by stronger pricing and …

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• 22 February 2023 2:46 pm

  Italy Jan EU-harmonised CPI revised to +10.7% y/y

  

  Italian EU-harmonised consumer prices (HICP) fell 1.5% month-on-month in January and were up 10.7% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data. The preliminary estimate had pointed to -1.3% month-on-month and +10.9% year-on-year. January’s +10.7% annual rate was down from +12.3% in December. …

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• 22 February 2023 1:55 pm

  European stocks are falling on falling mining stocks and interest rate fears

  

  European stocks opened lower on Wednesday, weighed down by a drop in mining stocks due to a fall in metals prices, and strong economic data raised concerns that interest rates will remain high for a longer period. The pan-European Stoxx 600 index was down 0.4 percent by 0809 GMT. Investors …

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• 22 February 2023 1:00 pm

  A slight rise in gold amid ahead of Fed

  

  Gold prices rose slightly on Wednesday as investors awaited the minutes of the latest monetary policy meeting at the Federal Reserve to assess the chances of further raising interest rates. Spot gold rose 0.1 percent to $1,835.79 an ounce by 0643 GMT. And gold futures contracts in the United States …

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• 22 February 2023 11:56 am

  US Dollar and GBP derive support from the recovery of corporate activities in America and Britain

  

  The dollar and the pound sterling found support on Wednesday after a sudden revival in corporate activity in the United States and Britain raised the possibility that both countries’ central banks would continue to raise interest rates. The euro compensated for some of the losses recorded in the last session, …

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• 22 February 2023 11:45 am

  German inflation rose to 8.7%

  

  Inflation in Germany rose during the second reading month of January to 8.7% from 8.6% previously, in line with expectations. Energy prices rose by 23.1% despite government relief measures, as domestic energy prices jumped by 36.5%, specifically natural gas, which rose by 51.7%. The prices of firewood, wood pellets and …

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• 22 February 2023 11:37 am

  Oil is falling on expectations that the interest rate hike will reduce fuel demand

  

  Oil extended its losses on Wednesday on expectations that the Federal Reserve will signal that it will continue to raise interest rates in comments it will issue on Wednesday, raising concerns about slowing economic growth as well as demand for crude. Brent crude futures for April delivery were down 23 …

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• 22 February 2023 10:54 am

  Nikkei closed at its lowest level in a month

  

  The Japanese Nikkei index closed at its lowest level in a month on Wednesday, affected by a broad wave of selling amid global political tensions and fears that raising interest rates in the United States will lead to a slowdown in the global economy. The Nikkei index lost 1.34 percent …

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