Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 3 February 2023 1:29 am

  CBE keeps Egypt’s rates unchanged

  

  Contrary to most expectations, Egypt’s central bank kept interest rates unchanged for the first time since September, stating that it was monitoring the effects of last year’s cycle of monetary tightening on inflation which is at its highest level since 2018. The Monetary Policy Committee maintained the deposit rate at …

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• 3 February 2023 12:30 am

  USD/CAD surges on stronger US Dollar

  

  The latest interest rate hike decided by the Fed was a shock for the USD/CAD on Wednesday, dragging the pair to fresh year-to-day lows. Falling oil prices and solid US labour market data underpinned the pair. As expected, USD/CAD traders are eyeing Friday’s US Nonfarm Payrolls data alongside ISM Non-Manufacturing …

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• 2 February 2023 11:30 pm

  Wall Street’s rally continues on tech stocks

  

  Wall Street is rallying on Thursday, led by enthusiasm mainly stirred by tech stocks and a significant surge of Meta; Facebook’s parent company.The S&P 500 was 1.5% higher in midday trading a day after hitting its highest level since August. The Nasdaq composite was 3.1% higher, as of 12:35 p.m. …

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• 2 February 2023 10:12 pm

  WTI Traders focus on Asian highs

  

  The WTI crude oil dropped to the %75s and now the daily chart shows the price breaking the trendline support. Oil is now correcting higher to $76.70 resistance. At the time of writing, the US crude is trading at $76.86 per barrel. The objective of escaping the $75s territory was …

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• 2 February 2023 9:13 pm

  Despite missing earnings expectations, Meta stock leaps 20%

  

  Shares of the social media giant exploded nearly 20% in pre-market trading on Thursday after earnings report missed market expectations. Investors have long loved Meta for its ability to print money but soured on the name in 2022 amid slowing sales and fresh restructuring efforts. But they may now be …

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• 2 February 2023 8:34 pm

  Bitcoin Prices touch fresh 5-Month High

  

  Bitcoin prices touched their highest since mid-August last night. Bitcoin prices even climbed last night, surpassing $24,000 and rising to their loftiest value since mid-August.The world’s most prominent digital currency reached $24,243.80 around 8 p.m. EST, according to CoinDesk data. At this point, the cryptocurrency had climbed over 6% in …

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• 2 February 2023 7:30 pm

  Gold price gives up Wednesday’s gains on BoE, ECB decisions

  

  Gold seems unable to benefit from the falling US Treasury. On the other hand, the US dollar recovered some ground, on the back of the Euro and Pound Sterling fall. On Wednesday, the US Federal Reserve hiked rates by 25 bps and signaled it is about to end its cycle. …

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• 2 February 2023 7:22 pm

  Euro falls after ECB rate decision

  

  The Euro fell against the Dollar on Thursday after the European Central Bank raised interest rates by 50 basis points in line with expectations while the Bank of England adopted a softer tone on inflation. The ECB plans to raise rates by the same amount at least once more next …

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• 2 February 2023 7:07 pm

  US: Weekly Initial Jobless Claims decline to 183K

  

  There were 183,000 initial jobless claims in the week ending January 28, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 186,000 and came in better than the market expectation of 200,000. Further details of the publication …

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• 2 February 2023 7:03 pm

  Q4’s US preliminary nonfarm productivity above expectations

  

  The US labour productivity rose for the second consecutive quarter in 2022’s fourth quarter, although for the year as a whole productivity posted its biggest decline in nearly five decades.US nonfarm labour productivity which is a measure of goods and services produced in the US per hour worked, rose at …

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• 2 February 2023 4:55 pm

  Bailey speech: Will re-evaluate policy if the economy evolves in live with central forecasts

  

  Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 4% in February. “Change in language reflects a turning in the corner but very …

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• 2 February 2023 4:01 pm

  Breaking: BOE hikes policy rate by 50 bps to 4% as expected

  

  Following its February policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 50 basis points (bps) to 4% as expected. Economists suggest this move could be the last big rate increase for Britain’s central bank, which has approved 10 consecutive hikes since a post-pandemic surge in …

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• 2 February 2023 2:20 pm

  Oil rises with the decline of the dollar and OPEC+

  

  Oil prices rebounded on Thursday after falling in the previous session, as dollar weakness restored some appetite for risky assets and OPEC+’s decision to continue production cuts helped quell oversupply fears. By 0353 GMT, Brent crude futures rose 65 cents, or 0.8 percent, to $ 83.49 a barrel, while West …

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