Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 5 January 2023 3:33 pm

  The aggressive US central bank speech fails to support USD

  

  The dollar struggled to rally on Thursday even though policymakers at the US Federal Reserve reaffirmed their commitment to fighting inflation, while the Australian dollar jumped after China eased restrictions on coal imports from Australia. The minutes of the Federal Reserve’s December monetary policy meeting, released last night, showed that …

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• 5 January 2023 2:32 pm

  Gold retreats as caution prevails ahead of the release of US jobs data

  

  Gold prices retreated on Thursday from their highest level in nearly seven months as the dollar strengthened and investors shied ahead of closely watched US jobs data, which could affect the path of the Federal Reserve’s interest rate hike. Spot gold fell 0.3 percent to $1,848.59 an ounce by 0924 …

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• 5 January 2023 1:18 pm

  Nikkei closed higher but monetary policy concerns limited gains

  

  Japan’s Nikkei index recovered on Thursday from its lowest level in three months as shares of chip-related companies rose, tracking their US counterparts, but expectations of the world’s major central banks continuing to pursue monetary tightening limited gains. The Nikkei ended the session up by 0.4 percent, recording 25,820.80 points, …

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• 5 January 2023 2:41 am

  Market Drivers – US Session 04/01/2023

  

  On Wednesday, the dollar sharply edged lower across the board. However, losses were uneven, with the Australian dollar among the best performers and the Euro  at the bottom of the list. The International Monetary Fund’s managing director said a third of the world’s economies could slide into a recession in …

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• 5 January 2023 1:18 am

  US stocks swing as investors digest economic data, FOMC minutes

  

  The S&P 500 was up a modest 0.1% in the afternoon, falling from a session high of more than 1% after minutes came in more hawkish than anticipated. The Dow Jones Industrial Average fell 0.2%, and the technology-heavy Nasdaq Composite was roughly flat.US stocks wobbled in back-and-forth trading Wednesday as …

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• 5 January 2023 12:12 am

  Gold reacts to hawkish FOMC minutes by hovering around $1,850

  

  Gold reacted downwards towards the low $1,840s on the release of the awaited FOMC minutes as US monetary policymakers seem not to expect to cut rates in 2023, Policymakers did not express the size for further rate hikes, either. Gold price clings to gains around $1850 following the release of …

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• 4 January 2023 11:10 pm

  Could FOMC minutes signal rate hiking endgame?

  

  All the Fed’s policymakers during December 13-14 policy meeting agreed the US central bank should slow the pace of its hawkish interest rate hikes. This was meant to allow policymakers the opportunity to continue increasing the cost of credit with the aim to control inflation but in a gradual manner …

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• 4 January 2023 11:04 pm

  FOMC Minutes: Fed’s policymakers uncomfortable with inflation levels

  

  The Federal Open Market Committee released the Minutes of the December 14-15 Meeting, spurring little action across the major assets. The US Dollar was little changed with the news, although US short-term interest-rate futures dropped. Key Quotes Most participants welcomed inflation easing in October and November but agreed it would …

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• 4 January 2023 10:16 pm

  Ahead of FOMC minutes, EUR/USD advances on mixed US data

  

  The Euro is retracing against the US dollar after hitting daily highs of 1.0635 and is dropping after the release of mixed US economic data, slightly boosted the US Dollar and shifting sentiment sour. At the time of writing, the EUR/USD is trading at 1.0610, above its opening price by …

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• 4 January 2023 9:12 pm

  Ahead of FOMC minutes, gold climbs above $1,850 on improved sentiment

  

  Gold prices are receiving a push forward by the significantly positive market sentiment keeping the US Dollar offered.Investors cheered China’s planning to support the property market and the relaxation of its Covid zero-tolerance policy. A busy US economic docket keeps traders worried about the performance of the US Dollar while …

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• 4 January 2023 8:55 pm

  Fed’s Kashkari explains why he calls for higher rates

  

  On Wednesday, Fed’s Neel Kashkari said he was wrong to have thought that inflation would prove “transitory” last year, and called for more rate hikes, suggesting that this will be appropriate in 2023 to continue bringing down price pressures. “While I believe it is too soon to definitively declare that …

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• 4 January 2023 7:50 pm

  JOLTS Job Openings little changed at 10.45 million in November

  

  Job openings in the US marginally declined in November. The US Dollar Index stages a rebound in the American session and was last at 104.35, where it was still down 0.3% on the day. The data published by the US Bureau of Labour Statistics, on Wednesday, indicated that the number …

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• 4 January 2023 7:03 pm

  US: ISM Manufacturing PMI declines to 48.4 in December vs. 48.5 expected

  

  Business activity in the US manufacturing sector contracted for the second straight month in December with ISM’s Manufacturing PMI declining to 48.4 from 49 in November. This reading came in slightly below the market expectation of 48.5.The US Dollar Index edged higher in an initial reaction and was last seen …

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