Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 23 February 2023 10:32 pm

  WTI rises despite increasing US inventories

  

  The Western Texas Intermediate crude prices advance more than 2%, trimming its Wednesday losses that were mainly the result of the stronger US dollar. US stockpiles have increased the most since 2021, as reported by the US Energy Information Agency. The US crude is trading at $75.43 at the time …

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• 23 February 2023 10:12 pm

  Explainer: What are Bitcoin put options, and why are they important?

  

  Bitcoin is becoming an increasingly important contributor to investors’ portfolios not only because of the returns, but also because the most famous cryptocurrency is increasingly recognized as an important contributor to portfolio performance in terms of versatility.BTC puts give the holder the right to sell BTC at an agreed price …

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• 23 February 2023 9:15 pm

  USD/CAD climbs following US economic data

  

  The USD/CAD aims higher and tests a significant resistance trendline in the daily chart. The latest FOMC minutes suggested that the Fed will continue to hike rates. In addition; positive US economic data underpinned the US Dollar and bolstered the USD/CAD.Rising oil prices capped the USD/CAD rally on Thursday. The …

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• 23 February 2023 8:11 pm

  What kind of hikes could be potential following FOMC Minutes?

  

  Two more 25 bps rate hikes in March and May could result in a terminal 5.00%-5.25% by May. The FOMC meeting minutes provided additional information about the Fed’s committee’s decision to hike rates by 25 bps in February. Economists are now looking forward to a 5.25% terminal rate at the …

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• 23 February 2023 7:14 pm

  Friday’s PCE data will be next chance for gold’s trend change

  

  Gold price triggered another bearish run after FOMC Minutes showed a hawkish stance by Fed officials. The US dollar stays dominant across the board despite US Gross Domestic Product disappointing on the second estimate for Q4 2022.Gold price keeps trending lower on Thursday after a bearish Wednesday, where the precious …

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• 23 February 2023 5:58 pm

  PCE Report to Deliver Fireworks for the Market

  

  Rates may need to increase significantly, according to the February Fed minutes. Despite a holiday-shortened business week, there will still be plenty of market-moving information available. On Wednesday, the FOMC minutes will be made public, and on Friday, PCE inflation data and the University of Michigan Inflation Forecasts will be …

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• 23 February 2023 4:43 pm

  Nvidia guidance stokes hopes on bottom in chip demand after Q4 results beat

  

  Nvidia said better times are ahead for its chipmaking business, sensing a huge opportunity for its high-performance chips amid a growing frenzy for the new generation of artificial intelligence tools. “AI is at an inflection point, setting up for broad adoption reaching into every industry,” chief executive Jensen Huang said …

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• 23 February 2023 4:14 pm

  The Turkish Central Bank cuts interest rates to 8.5%

  

  Turkey’s central bank cut interest rates on the lira by 50 basis points from 9% to 8.5% in February, after the devastating earthquake that claimed more than 45,000 lives. This cut came in line with analysts’ expectations of 8.5%. Turkey’s central bank cut its key interest rate by 500 basis …

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• 23 February 2023 3:07 pm

  US Dollar stabilized near the highest level in several weeks

  

  The dollar settled below a multi-week high against other major currencies on Thursday, a day after it received support from the latest Federal Reserve minutes that did not change the market’s expectations that the US central bank will raise interest rates further. The euro settled at $ 1.0606, slightly above …

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• 23 February 2023 3:03 pm

  Ministry of Defense: China will not participate in a nuclear arms race with any country

  

  China will not engage in a nuclear arms race with any country, and will always keep its nuclear force at the minimum level that meets national security requirements, said Tan Kefei, spokesman for the Chinese Ministry of Defense, at a press conference Thursday. Tan was responding to a reporter’s request …

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• 23 February 2023 2:55 pm

  Italian Eni recorded the highest profits in more than 10 years in 2022

  

  Italian energy group Eni said on Thursday its adjusted net profit rose to 13.3 billion euros ($14.12 billion) in 2022, its highest profit in more than a decade, but its shares fell as markets focused on weak exploration and production activity in the fourth quarter of the year. Adjusted net …

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• 23 February 2023 1:52 pm

  Gold rose as US Dollar fell and interest rate expectations limited gains

  

  Gold prices rose on Thursday, supported by a slight decline in the dollar, but the odds that interest rates in the United States will remain high for a longer period limit the gains of the yellow metal. Gold in instant transactions rose 0.3 percent to $ 1830.90 an ounce by …

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• 23 February 2023 1:35 pm

  European stocks opened higher, supported by chipmakers

  

  European stocks opened higher on Thursday as chipmakers rose on expectations of increased sales from US semiconductor company Nvidia. Shares of ASM International, BE Semiconductor and Extron rose between 1.6 and 3.2 percent, boosting the European technology sector 0.9 percent. Nvidia Corp. projected first-quarter revenue higher than Wall Street estimates …

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