Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 10 February 2023 10:33 pm

  GBP/USD falls as key support level put at risk

  

  The US Dollar is expected to finish this trading week with solid gains due to Fed’s hawkish comments as well as the latest US data.US Consumer Sentiment improved according to the University of Michigan. The UK avoided a recession in Q4 2022, though its forward economic outlook suggests a weaker …

  Read More »
• 10 February 2023 9:18 pm

  Gold firmer around $1860 despite hawkish signals

  

  Gold remains firm at around $1860 despite hawkish signalsOn Friday, gold prices remain firm at around $1860 per ounce after hitting a week-to-date new low of $1852.45 due to expectations regarding the next move by the US central bank and whether it would raise rates by 25 bps in the …

  Read More »
• 10 February 2023 8:09 pm

  Can Emerging Markets Profit From Changing Semiconductor Supply Chains?

  

  Opportunities were opening up for other nations to strengthen their positions in the supply chain for this crucial sector of the global economy and a key player in emerging technologies like artificial intelligence and next-generation computing after the United States imposed restrictions on China’s semiconductor manufacturing sector last autumn.In an …

  Read More »
• 10 February 2023 5:47 pm

  Canada’s Unemployment Rate stays unchanged at 5% in January

  

  The data published by Statistics Canada revealed on Friday that the Unemployment Rate stayed unchanged at 5% in January. This reading came in better than the market expectation of 5.1%. Further details of the publication revealed that the Net Change in Employment rose by 150,000, surpassing analysts’ estimate of 15,000 …

  Read More »
• 10 February 2023 5:41 pm

  Gold prices stabilize ahead of US inflation data

  

  Gold prices stabilized on Friday as market focus shifted to US inflation data due next week, which is likely to provide a clear picture of the Federal Reserve’s monetary policy path. Spot gold prices remained largely unchanged at $1,862.74 an ounce by 1209 GMT, after hitting the lowest since January …

  Read More »
• 10 February 2023 4:28 pm

  Russia to cut oil output by 500,000 bpd in March

  

  Russia will cut oil production by 500,000 barrels per day, or around 5% of output , in March, Deputy Prime Minister Alexander Novak said on Friday, after the West imposed price caps on Russian oil and oil products. The price of Brent crude rose on the news of the output …

  Read More »
• 10 February 2023 2:37 pm

  European stocks fell as concern over interest rates returned

  

  European stocks fell on Friday and were about to end a three-day winning streak as investors assessed the prospects for prolonged global monetary tightening, and a bleak outlook from German sportswear outfit Adidas weighed on sentiment. The pan-European STOXX 600 index was down 0.6% by 0815 GMT, after touching a …

  Read More »
• 10 February 2023 1:38 pm

  Heavy snow in Japan disrupts flights and trains and closes roads

  

  Japanese authorities and companies said that heavy snow in many parts of Japan on Friday caused the cancellation of 100 flights, closed dozens of roads and disrupted railway services. Domestic airlines including ANA, Japan Airlines and others canceled a total of 100 flights due to the snow until noon, according …

  Read More »
• 10 February 2023 12:18 pm

  Japanese stocks closed higher, supported by strong earnings and expectations

  

  Japanese stocks closed higher on Friday, boosted by strong corporate earnings and the expectations of domestic companies, with Tokyo Electron leading the gains after raising its annual profit forecast. The Nikkei index rose 0.31 percent to close at 27,670.98 points, after rising 0.8 percent earlier in the session. The index …

  Read More »
• 10 February 2023 11:46 am

  The British economy did not record any growth in Q4

  

  Data published by the British Office for National Statistics today, Friday, showed that the country’s gross domestic product did not witness any change in the last three months of 2022. Economists polled by Reuters had expected zero growth in the fourth quarter of the year. Last week, the Bank of …

  Read More »
• 10 February 2023 11:34 am

  Oil is falling and heading towards recording weekly gains

  

  Oil prices fell in early trading on Friday, February 10, but are heading towards recording political gains, as the market continues to oscillate between fears of a recession in the United States and hopes for a recovery in strong demand for fuel in China, the largest global importer. By 01:17 …

  Read More »
• 10 February 2023 11:07 am

  Russia expects its oil production to decrease in 2023

  

  Russian news agencies quoted Deputy Prime Minister Alexander Novak as saying on Friday that there is a possibility that the country’s oil production will decline in 2023, as a result of pressure exerted by the European Union and the ceiling set by the Group of Seven for the price of …

  Read More »
• 10 February 2023 10:41 am

  US Dollar is falling under pressure

  

  The US dollar fell against most of the other major currencies on Thursday, moving in line with falling Treasury yields, as investors stuck to their views that the Federal Reserve does not need to raise interest rates too much because inflation is starting to get under control. In evening trading, …

  Read More »