Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 16 February 2023 3:44 pm

  Oil is falling after a significant increase in US crude inventories

  

  Oil prices fell on Thursday after a large build in US crude inventories, but continued to move in a narrow range as hopes for a recovery in demand from China remained in focus. And by 1042 GMT, Brent crude futures fell 36 cents, or 0.42 percent, to $ 85.02 a …

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• 16 February 2023 2:32 pm

  European stocks open higher, supported by Airbus

  

  European stocks opened higher on Thursday, supported by Airbus, which also lifted the French blue-chip index to near a record high, while mining companies led sectoral gains as commodity prices rose. The Stoxx 600 index of European shares rose 0.7 percent, and the French CAC 40 index rose 0.9 percent, …

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• 16 February 2023 1:32 pm

  Ruble hits a 10-month low as foreign exchange earnings decline

  

  The Russian ruble fell to near a ten-month low near 75 against the dollar on Thursday, affected by lower foreign exchange earnings from oil and gas exports and fears of the European Union imposing new sanctions on Moscow. The ruble fell 0.4% against the dollar to 74.8 by 0744 GMT, …

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• 16 February 2023 1:31 pm

  Oil rises amid optimism about the growth in demand for fuel in China

  

  Oil prices rose on Thursday as hopes for a strong recovery in fuel demand in China, the world’s largest oil consumer, offset losses from a stronger dollar and a large build in US crude inventories. And by 0725 GMT, Brent crude futures rose 59 cents, or 0.7 percent, to $ …

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• 16 February 2023 11:58 am

  Japanese Topix index closed at its highest level in two and a half months

  

  Japan’s Topix index closed Thursday at a 2-1/2 month high as auto and tire makers rebounded after the yen fell, and Wall Street’s rally at the close last night lifted market sentiment. The broader Topix index rose 0.71 percent to close at 27,696.44 points. The yen hovered near a six-week …

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• 16 February 2023 11:54 am

  Gold regains some of its lustre with the decline of US dollar

  

  Gold prices regained some momentum on Thursday as the dollar weakened, but the prospect of the Federal Reserve raising interest rates again kept investors on edge. By 0333 GMT, spot gold rose 0.3 percent to $1,840.94 an ounce, after hitting its lowest level since early January on Wednesday. US gold …

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• 16 February 2023 2:40 am

  Market Drivers – US Session 15/02/2023

  

  The dollar benefited from renewed concerns about the continued US Federal Reserve’s monetary tightening spurring risk aversion. As American inflation eased just modestly in January, hopes for a Fed’s pivot faded. The United States published Retail Sales on Wednesday, which surged by 3% MoM in January, much better than anticipated. …

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• 16 February 2023 1:27 am

  USD/CHF encounters solid resistance at around 0.9260s

  

  The USD/CHF pair is neutral-downward biased from a daily chart perspective. In the short term, the USD/CHF might fall to the bottom of the range, below 0.9200.The dollar continued to strengthen versus the Swiss franc on Wednesday, bolstered by US economic data that supported speculations for further aggression by the …

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• 16 February 2023 12:25 am

  Oil Falls After Massive Crude Inventory Build Confirmed By EIA

  

  Crude oil prices fell on Wednesday after the U.S. Energy Information Administration reported an inventory build of 16.3 million barrels for the week to February 10.This compared with a build of 2.4 million barrels for the previous week, extending a string of weekly builds, some of them quite sizeable, which …

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• 15 February 2023 11:27 pm

  Explainer: Lael Brainard Departs Powell’s Team For A Key Role In Biden’s Team

  

  Fed Vice Chair Lael Brainard’s departure to the White House stimulated speculation over who will replace her as all policymakers weigh how much further to raise interest rates.Fed watchers wasted no time in coming up with some names of their own after Brainard’s name surfaced last month as a major …

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• 15 February 2023 10:17 pm

  US Stocks Slide Following Strong Retail Sales Data

  

  Wall Street’s main stock indexes fell on Wednesday after stronger-than-expected retail sales data offered more evidence of resilience in the U.S. economy, fueling worries that the U.S. Federal Reserve could stick to its rate-hike campaign.Retail sales surged 3% in January, driven by purchases of motor vehicles and other goods. Economists …

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• 15 February 2023 9:23 pm

  ECB’s Lagarde: I intend to raise rates by 50 bps in March

  

  European Central Bank President, Christine Lagarde has said that even though most measures of longer-term inflation expectations currently stand at around 2%, these measures warrant continued monitoring.She also noted that price pressures remain strong and underlying inflation is still high. She intends to lift rates by 50 basis points at …

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• 15 February 2023 8:44 pm

  Bitcoin surpasses $24K hitting two-week high

  

  Investors liquidated about $60 million of BTC short positions over the past 24 hours, pushing the price higher Wednesday, data shows. Ether also climbed. Bitcoin price chart showed the cryptocurrency’s price jump on Wednesday. Bitcoin bolted past $24,000 for the first time in two weeks after surging more than 8% …

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