Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 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 »
• 4 February 2023 12:51 am

  USD/CAD climbs on remarkably positive NFP data

  

  The USD/CAD resumed its uptrend once it reclaimed the February 1 daily high at 1.3379. the pair climbs in the US trading session after hitting a daily low of 1.3311 before Wall Street opened.The strong US jobs report boosted the US dollar, the strongest currency across the forex board. At …

  Read More »
• 3 February 2023 11:47 pm

  Wall Street plunge in reaction to NFP data

  

  US stocks plunged lower on Friday morning as traders digested the much stronger than expected jobs report for January, but recovered a little bit by midday trading after the US jobs report far exceeded expectations while the unemployment rate fell to a historic low of 3.4%. Stock market’s steep decline …

  Read More »
• 3 February 2023 11:13 pm

  Poor UK data could impose pressure on the GBP

  

  The change in the Bank of England’s rhetoric is favouring additional interest rate hikes in the upcoming policy meetings. Meanwhile, poor UK data is expected to drag the British Pound lower. The GBP/USD pair has fallen this afternoon, as the US Non Farm Payrolls data pointed to a surprise surge …

  Read More »
• 3 February 2023 8:59 pm

  Could NFP Drive FOMC To Cautious Stance On Rate Hikes?

  

  Friday’s NFP data by the US Bureau of Labour Statistics showed that Nonfarm Payrolls surged by 517K in January, above market consensus. The figure pushed the US dollar forward to rally. Analysts point out that there is still plenty of additional economic data from the beginnings of February till March’s …

  Read More »