Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 25 January 2023 11:58 am

  BoC Preview: Forecasts from four major banks

  

  The Bank of Canada (BoC) is set to announce its interest rate decision on Wednesday, January 25 at 15:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of Four major banks, regarding the upcoming announcement. Wells Fargo …

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• 25 January 2023 3:50 am

  Market Drivers – US Session 24/01/2023

  

  The US dollar dropped against the Euro and had weaker performance despite solid US manufacturing data that stirred some livelihood into markets ahead of key events for the days ahead. Most markets are awaiting clues concerning inflation from the US growth updates in the US economy. The US 10-year yield …

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• 25 January 2023 2:49 am

  Wall Street fights for direction, but Dow closes higher for third consecutive day

  

  US stocks tended to fight for direction on Tuesday, but the Dow Jones Industrial Average finished higher. The index gained 104.40 points, or 0.31%, to close at 33,733.96. The S&P 500 dipped 0.07% to settle at 4,016.95, while the Nasdaq Composite dropped 0.27% to end at 11,334.27.The Dow Jones Industrial …

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• 25 January 2023 1:55 am

  Microsoft beats earnings expectations despite cloud growth slowdown

  

  Microsoft announced its Q2 earnings after the bell on Tuesday, beating on expected earnings per share. Despite the beat on earnings per share, Microsoft’s cloud business continued to slow in the quarter. The company reported its Intelligent Cloud segment grew 18% in the quarter, while its Azure services grew 31%. …

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• 25 January 2023 12:42 am

  Gold tests critical resistance as traders await key events

  

  Gold price is running into a critical resistance area on all charts. Gold selloff could eventually lead to significant fears lest it should run towards $1,900. Gold price is advancing on the day into the final push on Wall Street and rallied from a low of $1,917.22 to a high …

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• 24 January 2023 11:41 pm

  January set to prove best Bitcoin’s month since October 2021

  

  Bitcoin rallied more than 37% in the first month of the new year. The famous cryptocurrency is expected to have January as its best monthly return since October 2021.Analysts pointed to the weaker US dollar, inflation expectations, and institutional buying support catalyzing this rally. The fading impact from squeezed short …

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• 24 January 2023 10:49 pm

  USD/CAD consolidates ahead of BoC, key data

  

  The USD/CAD pair is eagerly awaiting BoC’s rate decision this week and the build-up momentum ahead of the Fed’s policy meeting next week. The USD/CAD is flat on the day following stock market volatility. The USD/CAD is flat on the day after journeying between the 1.3346 low and the 1.3413 …

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• 24 January 2023 9:42 pm

  European markets close lower despite Eurozone’s return to growth

  

  Tuesday’s latest purchasing managers’ index data from the Eurozone in January and the first signs of the corporate earnings season are being digested by investors as European markets ended lower on Tuesday.The pan-European Stoxx 600 index decreased by 0.2%, with losses led by the oil and gas and health care …

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• 24 January 2023 8:43 pm

  ECB’s Simkus: Should continue with 50bp rate hikes

  

  European Central Bank’s policymaker Gediminas Simkus said on Tuesday that the ECB should continue with 50 basis points (bps) rate hikes amid growing wage pressures, as reported by Bloomberg.Simkus further added that reaching the peak policy rate before summer ‘may be unlikely’ and noted that strong core inflation shows that …

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• 24 January 2023 7:40 pm

  Australian inflation data could push AUD/USD’s rally higher

  

  The AUD/USD pair broke decisively above 0.7000 yesterday. Australia’s Consumer Price Index data for Q4 could fuel the rally if figures come out sticky according to economists. The AUD/USD is trading at 0.7049 at the time of writing versus the previous closing at 0.7024. Tuesday’s fourth-quarter CPI data in Australia …

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• 24 January 2023 4:46 pm

  Oil stabilizes midway between China’s reopening, economic concerns

  

  Crude oil prices stabilized on Tuesday amid concerns about the global economic slowdown and the expected increase in US oil inventories, which was offset by hopes for a recovery in fuel demand from China, the world’s largest oil importer. Brent crude fell 30 cents, or 0.3 percent, to $87.89 a …

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• 24 January 2023 2:12 pm

  US Debt Ceiling — Everything you need to know

  

  The U.S. hit the debt ceiling The U.S. Debt Ceiling is an essential fiscal tool that has been around for a while; however, it has recently become a source of much debate and discussion.  The debt ceiling is the legal limit to which the U.S. government can borrow money from …

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• 24 January 2023 1:53 pm

  Dollar is falling and the euro is close to its highest level in 9 months

  

  The dollar hovered near a nine-month low against the euro on Tuesday and gave up recent gains against the yen, as traders weigh the prospects of a US recession as well as the Federal Reserve’s interest rate path. The dollar index, which measures the US currency against a basket of …

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