Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 8 February 2023 2:33 pm

  European stocks hit the highest level in 9 months

  

  European stocks hit their highest level in more than nine months on Wednesday, as investors got positive cues from Federal Reserve Chairman Jerome Powell’s comments on Tuesday, while the upbeat outlook of Linda and Akzo Noble led to higher materials stocks. Crude and chemicals. The pan-European STOXX 600 index was …

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• 8 February 2023 1:24 pm

  Gold rises after Fed eased its stance on interest rates

  

  Gold prices rose on Wednesday as the dollar retreated from a one-month peak after comments from Federal Reserve Chairman Jerome Powell deemed less hawkish. By 0744 GMT, spot gold rose 0.4 percent to $1880.97 an ounce, and US gold futures rose 0.4 percent to $1880.10. Lower interest rates benefit gold …

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• 8 February 2023 12:07 pm

  Oil jumps for the third day

  

  Oil prices rose in early trading on Wednesday, extending gains from the past two days, as the dollar fell after Federal Reserve Chairman Jerome Powell appeared less hawkish on interest rates than markets had expected, and as US crude inventories fell surprisingly. Brent crude futures rose 11 cents, or 0.1 …

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• 8 February 2023 12:05 pm

  Japanese Nikkei index is falling affected by weak profits in tech

  

  Japan’s Nikkei fell on Wednesday amid heavy selling in stocks of major technology companies such as Nintendo and SoftBank Group after disappointing financial results, dashing any hopes of capitalizing on Tuesday night’s gains on Wall Street. Investment group SoftBank fell 5.1% after posting a quarterly loss, while video game maker …

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• 8 February 2023 4:35 am

  Market Drivers – US Session 07/02/2023

  

  The US dollar extended its February rally throughout the first half of the day, but turned negative during the US trading session to end the day mixed, as Fed’s Jerome Powell participated in a moderated discussion at the Economic Club, Washington DC.Key DevelopmentsIn his first State of the Union address …

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• 8 February 2023 2:18 am

  Brent jumps, WTI rallies past $77.5 on Powell’s speech

  

  WTI crude got bolstered on the weaker US dollar that got impacted following Fed’s Powell remarks in his speech before the Economic Club of Washington. China’s reopening and Turkey’s earthquake are among the key factors reinforcing crude oil prices.Powell said very strong jobs data released last week simply affirmed that …

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• 8 February 2023 1:10 am

  These Assets Reaped Most Gains After Powell’s Rollercoaster

  

  Fed Chair Jerome Powell tends to stick to the scenario of ‘ongoing rate increases will be appropriate’ as inflation is still as twice as big as the US 2% target. The next CPI report might not have so much love for Wall Street, despite its release on Valentine Day Tuesday …

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• 7 February 2023 10:53 pm

  Macklem defends BoC pause on rate hiking, warns of overtightening

  

  Bank of Canada Governor Tiff Macklem defended his stance for interest rate pause, while laying out metrics that may prompt another increase in borrowing costs. Macklem also pointed out that it can take 18 to 24 months to see the full effects of higher interest rates, which have jumped 425 …

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• 7 February 2023 9:43 pm

  Fed’s Powell: Jobs report was strong, need to do further interest rate hikes

  

  Federal Reserve Chairman Jerome Powell is speaking in his first public appearance since Friday’s strong jobs report for January. Economists, on average, were expecting 185,000 job gains, which would have been the slowest pace of growth in more than two years, and for the jobless rate to increase to 3.6%.And …

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• 7 February 2023 8:46 pm

  EUR/USD under bullish pressure ahead of Fed Powell’s speech

  

  The EUR/USD bulls will attentively look for any dovish hints in the Fed chair Powell’s speech that could weigh on the US dollar. the pair is trading at 1.0726 at the time of writing.A break of session highs would leave the 1.0720s vulnerable in the near term. The daily ATR …

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• 7 February 2023 7:45 pm

  USD/CAD firmer ahead of speeches by Fed’s Powell, BoC’s Macklem

  

  The USD/CAD pair is holding to gains as traders await clues by Fed Chair Jerome Powell’s speech later on Tuesday. At the time of writing, the pair is trading at 1.3463, registering 0.12% gains versus the previous closing at 1.3445.On Tuesday, the US trade deficit widened, though market participants ignored …

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• 7 February 2023 7:32 pm

  Investors want to hear Powell’s thoughts on the latest employment data

  

  Of particular interest to stock investors, today is what Federal Reserve Chairman Jerome Powell has to say at an event organized by The Economic Club of Washington DC. But, most importantly, they want to know his thoughts on the latest Labor Department report, which showed US payrolls grew by more …

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• 7 February 2023 7:06 pm

  US Dollar Surges On Kashkari’s Hints Ahead Of Powell’s Speech

  

  Fed’s policymakers began to reflect on the unexpectedly robust jobs report for January, a few hours before Chair Jerome Powell faces questions later on Tuesday on whether the NFP data has shaken his confidence that high inflation will come down without hawkish moves by the central bank to slow the …

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