Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 10 February 2023 3:18 am

  Market Drivers – US Session 09/02/2023

  

  The US dollar has been higher with gains ahead of Wall Street’s opening, advancing at the end of the trading day as US indexes plunged ahead of the close though Dow surged earlier on robust earnings including Disney and PepsiCo.The dollar benefited from higher government bond yields but also from …

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• 10 February 2023 2:25 am

  LocalBitcoins to shut down after 10 years in cryptomarket

  

  Based upon the “ongoing very cold crypto-winter,” the Peer-to-peer Bitcoin exchange LocalBitcoins announced it will stop operation beginning Thursday. LocalBitcoins, is looked upon as one of the earliest and most popular Bitcoin exchanges. The service and business will stop after more than ten years of operation. The platform also said …

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• 10 February 2023 1:18 am

  USD/CHF retreats as focus shifts to next week’s CPI data

  

  The USD/CHF bulls take a breather around 0.9220, after posting the biggest daily jump in one week, as traders await the key US data amid mixed interest rate-linked feelings. The Swiss Franc rallied the previous day amid the market’s rush toward the US dollar amid fears of recession. However, traders …

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• 10 February 2023 12:50 am

  Decline of oil prices, lower natural gas costs expected by EIA

  

  The US Energy Information Administration’s February short-term energy expectations are indicating a decline of oil pricing over the next two years as well as a 50% drop in natural gas prices. In addition, the production of global liquid fuels is expected to get lower in 2023. Russia and China still …

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• 9 February 2023 10:43 pm

  Gold price declines despite dollar’s weakness

  

  The gold price retreats on Thursday and is trading at $1867.54 at the time of writing. The positive US economic data earlier on the day triggered the precious metal’s jump to fresh daily high at $1890.21. US Initial Jobless Claims underpinned XAU/USD, though the metal retreated those gainsUnemployment claims rose …

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• 9 February 2023 9:46 pm

  Treasury yields retreat after rate hike expectations drop

  

  The Ten-year US Treasury yields have declined since the opening of daily trading on Thursday, affected by the decline in interest rate expectations after the emergence of fresh US employment data to denote a direct relationship between interest rate hike expectations and ten-year US Treasury yields. US Treasury yields for …

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• 9 February 2023 8:45 pm

  Nickel fraud bites top commodity trader with $577 million loss

  

  Trafigura suffers a $577 million loss on nickel shipments in what the company calls a systemic fraud. The commodities trading giant discovered some of the metal cargoes it bought were missing nickel. A full container of nickel, an expensive metal that is typically traded in large volumes, can be worth …

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• 9 February 2023 7:56 pm

  Dow climbs 200 points, Disney shares higher after strong earnings

  

  The Dow Jones Industrial Average gained 226 points, or 0.7%. The S&P 500 added 0.6%, while the Nasdaq Composite added 0.8% on Thursday. Disney shares gained more than 2% after the company posted smaller-than-expected subscriber losses along with earnings and revenue that beat estimates. The stock pared gains after CEO …

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• 9 February 2023 6:00 pm

  US: Weekly Initial Jobless Claims rise to 196K

  

  There were 196,000 initial jobless claims in the week ending February 4, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 183,000 and came in slightly worse than the market expectation of 190,000. The publication revealed that …

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• 9 February 2023 5:18 pm

  Gold is gaining momentum with the decline of US dollar ahead of US data

  

  Gold rose on Thursday, supported by the decline in the dollar, but prices are expected to be trapped in a limited range as traders await economic data, seeking indications about the path of the Federal Reserve to raise interest rates. And by 1029 GMT, spot gold rose 0.4 percent to …

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• 9 February 2023 3:12 pm

  Bloomberg: First Abu Dhabi may renew $35 billion offer for Standard Chartered

  

  Bloomberg News reported on Thursday that First Abu Dhabi Bank, the UAE’s largest bank, may renew a potential offer for British bank Standard Chartered once the freeze rules associated with its previous bid, which it retracted, expire. Standard Chartered shares jumped 9 percent after the report. A Standard Chartered spokesman …

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• 9 February 2023 2:09 pm

  European stocks are at the highest level in 9 months

  

  European stocks touched a nine-month high on Thursday, supported by earnings data from companies including Germany’s Siemens and Britain’s AstraZeneca, which helped ease concerns raised by Federal Reserve officials after they stressed the need for more interest rate hikes. The Stoxx 600 index of European shares rose 0.8 percent by …

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• 9 February 2023 1:12 pm

  Stability of US dollar with evaluation of statements of Fed officials

  

  On Thursday, the dollar hovered near the average prices it recorded during the last period against the major currencies, while investors evaluated the comments issued by a number of Federal Reserve officials, as well as anticipating the consumer price inflation data scheduled to be published next week. The dollar index, …

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