Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 12 January 2023 12:26 pm

  Japan’s Nikkei is settled ahead of US inflation data

  

  Japan’s Nikkei closed slightly changed on Thursday amid caution ahead of the release of key US inflation data, while bank stocks rose amid speculation the Bank of Japan’s stimulus package could be modified as next week’s policy meeting approaches. The Nikkei ended Thursday’s session up 0.01 percent at 26,449.82 points, …

  Read More »
• 12 January 2023 12:24 pm

  Coinbase begins with the second round of layoffs!

  

  Cryptocurrency trading platform Coinbase has announced that it intends to lay off 20% of its employees and attributed this layoff to the need to conserve cash in light of the cryptocurrency market downturn, and the platform plans to cut 950 jobs, according to a statement released Tuesday, January 10. Coinbase, …

  Read More »
• 12 January 2023 5:46 am

  Market Drivers – US Session 11/01/2023

  

  The US Dollar Index has displayed negative performance for the second consecutive day around seven-month low. Dovish comments from Fed officials as well as mixed US data are among factors that do renew hopes for slowing down the pace of rate hiking and this tendency could hamper the DXY. Risk-on …

  Read More »
• 12 January 2023 5:18 am

  America’s CPI Preview: Forecasts by 10 major banks

  

  The annual CPI is expected to decline to 6.5% from 7.1% in November and see the Core CPI, which excludes volatile food and energy prices, edging lower to 5.7% from 6%. On a monthly basis, the CPI is forecast to stay unchanged while the Core CPI is expected to rise …

  Read More »
• 12 January 2023 1:58 am

  EUR/USD edges higher on ECB’s comments, weaker US dollar

  

  The EUR/USD pair rallied benefiting from the weaker US dollar and ECB hawkish commentary. The US central bank Chair Jerome Powell’s speech on Tuesday did not provide any guidance concerning the future of the US monetary policy ahead of the awaited Thursday’s US CPI report with estimates at 0% MoM …

  Read More »
• 12 January 2023 12:54 am

  Could CPI data push gold prices above $1,900?

  

  Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce earlier on Wednesday. At the time of writing the precious metal is trading at $1876.80 per ounce.Investors normally flock to assets that offer regular returns, such as government bonds, when interest rates are …

  Read More »
• 12 January 2023 12:00 am

  Fed’s Collins backs a slowdown on rate hikes

  

  Boston Federal Reserve’s Susan Collins backs a slowdown in the US interest rate increases. Collins also noted that she was leaning toward a quarter-point move at the FOMC’s next meeting on February 1.“I think 25 or 50 would be reasonable; I’d lean at this stage to 25, but it’s very …

  Read More »
• 11 January 2023 10:56 pm

  How commodities react to monetary policy, China’s news

  

  On Wednesday, the metal rose 1.1% to $9,013.50 on the London Metal Exchange (LME), posting its fifth consecutive daily gain. At the time of writing, the key industrial metal is trading at $4.17 per pound for the first time since June, versus the previous closing price on Tuesday at $4.07. …

  Read More »
• 11 January 2023 10:09 pm

  Goldman: Oil could surge up to $110 by Q3

  

  Commodity prices, particularly crude oil, are expected to corelate will China’s reopening after Lunar New Year celebrations later in January, according to Goldman Sachs Group Inc.“What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview on …

  Read More »
• 11 January 2023 8:44 pm

  T-yields fall ahead of CPI data

  

  Treasury yields retreated on Wednesday, on the eve of the key consumer price data release. The yield on benchmark 10-year Treasury notes fell 5.9 basis points to 3.560%. Yields move inversely to their price. The market expects inflation to ease and the Fed could cut interest rates by the end …

  Read More »
• 11 January 2023 7:55 pm

  Gold attempts to surge on slower Fed rate hikes expectation

  

  Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce on Wednesday. At the time of writing the precious metal is hovering around $1872 per ounce.Gold has got the opportunity to shine again, as investors are betting that the aim of cooling hot …

  Read More »
• 11 January 2023 7:02 pm

  EIA forecast oil prices to decline beginning 2023’s second half

  

  In their January 2023 Short-Term Energy Outlook, the official website of the governmental US Energy Information Administration (EIA), forecasts Brent crude oil price to rise from an average $81 per barrel recorded in December 2022 to average $83/b in the first quarter of 2023 (1Q23). The EIA also expects this …

  Read More »
• 11 January 2023 5:45 pm

  A slight rise in oil, with the rise in US inventories

  

  Oil prices rose slightly on Wednesday, amid an unexpected increase in US crude and fuel inventories, global economic uncertainty and China’s reopening of its economy. Brent crude futures rose 53 cents, or 0.7 percent, to $80.63 a barrel by 0921 GMT. US West Texas Intermediate crude futures rose 41 cents, …

  Read More »