Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 6 February 2023 9:37 pm

  EUR/USD declines to 4-week lows

  

  The EUR/USD retreated to fresh lows at around 1.0720s because of the stronger US dollar. Last week’s EU retail sales disappointed, while factory activity in Germany improved as orders rose as risks are tending to the downside.The EUR/USD extended its decline to new four-week lows at around 1.0720s due to …

  Read More »
• 6 February 2023 8:29 pm

  Gold’s Decline Stopped By Bulls On Monday

  

  Last week’s strong US jobs report has sent warnings across financial markets that the Fed policymakers could reconsider their upcoming action.Gold price decline is generally stopped on Monday as bulls who entered the market at last Friday’s low of around $1860 and reclaimed $1870. The US Nonfarm Payrolls report and …

  Read More »
• 6 February 2023 7:25 pm

  Canada’s Ivey PMI improves in January

  

  Canada Ivey PMI improved at a much stronger pace than expected in January. The USD/CAD pair continues to trade in positive territory near 1.3450. The Ivey Purchasing Managers Index (PMI), an economic index which measures the month-to-month variation in economic activity in Canada, climbed to 60.1 (seasonally adjusted) in January …

  Read More »
• 6 February 2023 5:03 pm

  Britain is facing the largest strike of healthcare workers over wages

  

  Britain’s health workers began their biggest strike on Monday, as tens of thousands of nurses and paramedics went on strike amid an escalating row with the government over pay that will lead to further disruptions to the public health system. Nursing and ambulance workers have taken separate strikes since late …

  Read More »
• 6 February 2023 3:23 pm

  Dollar is rising after strong US jobs data

  

  The dollar held firm against the euro on Monday, with traders expecting the Federal Reserve to likely raise the benchmark interest rate above 5 percent and keep it at that level to rein in inflation, after data revealed that the labor market remains strong. The Turkish lira fell to a …

  Read More »
• 6 February 2023 3:19 pm

  Eurozone Retail Sales drop 2.8% YoY

  

  Eurozone’s Retail Sales dropped by 2.7% MoM in January versus -2.5% expected and 1.2% last, the official figures released by Eurostat showed on Monday. On an annualized basis, the bloc’s Retail Sales came in at -2.8% in January versus -2.5% recorded in December and -2.7% consensus forecast.

  Read More »
• 6 February 2023 1:25 pm

  Gold is recovering but remains below $1,900 amid interest concerns

  

  Gold prices recovered some of their losses on Monday, but the strength of the dollar and fears that the Federal Reserve may continue to raise interest rates kept the yellow metal below the key level of $ 1900 an ounce. And by 0540 GMT, spot gold rose 0.6 percent to …

  Read More »
• 6 February 2023 1:16 pm

  Turkish lira is falling to a new record low

  

  In early trading on Monday, the Turkish lira reached a new record low against the dollar, recording 18.85, as the Turkish currency is under pressure due to the strength of the dollar and geopolitical risks. Emerging market currencies came under significant pressure after the dollar rose sharply on Friday in …

  Read More »
• 6 February 2023 12:57 pm

  Nikkei closes at the highest level in more than 7 weeks

  

  The Japanese Nikkei index closed at its highest level in more than seven weeks on Monday, as the yen’s decline supported shares of automakers and other exporting companies, while shares of trading companies achieved gains supported by earnings expectations. The Nikkei rose 0.67 percent to close at 27,693.65 points, the …

  Read More »
• 6 February 2023 4:27 am

  Financial Markets’ Weekly Recap, 29 Jan-3 Feb

  

  Major US stock indexes closed lower on Friday after surprisingly strong jobs data raised concerns about the Federal Reserve’s aggressive rate hikes, while investors received a mixed batch of earnings reports from major companies.The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls …

  Read More »
• 4 February 2023 6:01 am

  Market Drivers – US Session 03/02/2023

  

  Economic data mainly drove the US trading session on Friday. US job growth was the main protagonist in most of the incidents in the market’s story as US job growth soared in January amid a persistently resilient labour market, but a further moderation in wage gains could give the Fed …

  Read More »
• 4 February 2023 3:41 am

  WTI Crude Oil Loses Over 3.5% On Robust US Jobs Data

  

  Oil prices dipped to three-week lows on Friday during a remarkably volatile US trading session, volatility even deepened following the robust US jobs report that renewed existing concerns about future higher interest rates in the USA as investors seek clarity on the imminent EU embargo on Russian refined products. Brent …

  Read More »
• 4 February 2023 2:57 am

  US Dollar Still Soaring Following Huge Jobs Report

  

  The US dollar leaped on Friday after data showed that US employers added significantly more jobs in January than economists expected, possibly paving the way ahead before the American central bank to add further interest rate hikes in coming monetary policy meetings.The Labour Department’s closely monitored NFP report showed that …

  Read More »