Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 21 February 2023 1:33 pm

  US Dollar is hovering at the highest level in 6 weeks ahead of the announcement of economic data

  

  The dollar hovered at the highest level in six weeks ahead of the announcement of economic data that may help determine the direction of interest rates in the future, while the euro fell ahead of the announcement of monthly data on corporate activity. Strong data for the US labor market …

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• 21 February 2023 1:21 pm

  The Russian Ruble fell ahead of Putin’s speech to the Federal Assembly

  

  The Russian ruble declined against the dollar ahead of President Vladimir Putin’s expected speech before the Federal Assembly, which is expected to be of great importance given its date coinciding with the first anniversary of the war in Ukraine, despite the high demand for the Russian currency with the approaching …

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• 21 February 2023 12:59 pm

  Brent declines on the rise in US Dollar and caution

  

  Benchmark Brent crude opened trading on Tuesday slightly lower in light of the dollar’s rise and traders awaited signals from the minutes of the latest Federal Reserve meeting on interest rates, after optimism about demand amid tight supplies led to a rise in prices on Monday. Brent crude fell 59 …

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• 21 February 2023 12:16 pm

  Japanese stocks closed lower affected by a contraction in factory activity

  

  Japanese stock markets ended lower on Tuesday, as investor confidence was shaken after a survey of companies showed that the country’s manufacturing activity contracted at the fastest pace in 30 months in February. The Nikkei index fell 0.21 percent to close at 27,473.10 points, and consumer goods stocks led the …

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• 21 February 2023 11:52 am

  Gold is locked in a narrow range ahead of data

  

  Gold rose slightly on Tuesday, as it was confined to a narrow range as investors refrained from forming large positions ahead of the release of US economic data that may affect the Federal Reserve’s interest rate strategy. Gold rose 0.1 percent to $1,842.37 an ounce at 0245 GMT, while it …

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• 21 February 2023 3:37 am

  Market Drivers – US Session 20/02/2023

  

  The week has got an obviously quiet beginning as the United States observes the President’s Day holiday. Economic Data The absence of macroeconomic releases helped majors to trade within tight intraday ranges. Liquidity is thin and the market sentiment is sour. Key Developments North Korea fired an intercontinental ballistic missile …

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• 21 February 2023 2:29 am

  Oil surges 1% on Chinese demand hopes

  

  Oil prices surged over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply.Brent crude settled up $1.07, or 0.95%, at $83.56 a barrel. WTI for March, which expires on Tuesday, last rose 86 cents, or 1.12%, at …

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• 21 February 2023 1:23 am

  EUR/USD reluctatnt to leave Friday’s range as traders await the next catalyst

  

  EUR/USD pair is stuck in a range and awaits major data this week. Traders will have both Eurozone and US economic calendar to potentially find catalysts that will move the EUR/USD.EUR/USD is moving sideways during the US holiday, the pair seems reluctant to leave Friday’s price range. The Euro has …

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• 21 February 2023 12:11 am

  Gold could face losses as bond yields continue surging

  

  As bond yields surge, investors Advised To Build Strategic Position in the gold marketEconomists do expect to see lower gold prices in the near term as markets begin to price in further aggressive monetary policy action from the Fed. Higher inflation prompted markets to price in a 21% chance that …

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• 20 February 2023 9:45 pm

  Official: SNB is still willing to be active on the forex markets

  

  The Swiss National Bank is “still willing” to be active on the foreign currency markets in pursuing its goal of price stability, Vice Chairman Martin Schlegel said on Monday.“If the Swiss franc depreciates we are ready to sell foreign exchange, if the Swiss franc appreciates strongly we are willing to …

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• 20 February 2023 8:59 pm

  Chinese shares lead gains as US observes Presidents Day

  

  US futures waver as investors consider latest signals on interest rates. Meanwhile, global markets were mixed Monday amid volatility, with US futures struggling for direction in holiday trading ahead of another busy week in terms of economic data.Futures tied to the S&P 500 edged down 0.1%, as did those tied …

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• 20 February 2023 7:33 pm

  GBP/USD recovered, with little hope to stage a sustainable rise.

  

  The British Pound fought back from below 1.20/USD and the 200-DMA (1.1938) on Friday but conviction for a return to 1.2450 is low based on the outlook for a widening in US/UK rate differentials. Based on implied market rates, the Fed/BoE spread could widen to almost 100 bps in 2Q, …

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• 20 February 2023 6:11 pm

  Market Drivers – European Session 20/2/2023

  

  European stocks were flat on Monday, as continued gains in mining stocks, on the back of bets on demand recovery in China, offset losses in Telecom Italia, which led the decline in stocks in the eurozone. The pan-European Stoxx 600 index was little changed after rising slightly at the start …

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