Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 2 February 2023 1:02 am

  USD/JPY falls following FOMC’s rate decision

  

  The USD/JPY pair was rejected at the 20-day EMA and collapsed as the Fed increased rates by 25 basis points. Fed officials stated that more increases would be appropriate in 25 bps size. Powell’s disinflationary comments dragged US Treasury bond yields lower, plunging more than ten bps toward 3.40% as …

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• 2 February 2023 12:47 am

  Gold, Silver Rally Following FOMC’s Rate Decision

  

  Gold and silver prices are higher closer to daily highs in afternoon US trading session on Wednesday, following a broadly expected small interest rate hike by the US Fed.Gold is trading at 1950.14 at the time of writing. April gold was up $15.30 at $1,960.40 and March silver was up …

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• 2 February 2023 12:02 am

  Fed’s Powell : Disinflationary process is in early stages

  

  FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 25 basis points to the range of 4.5-4.75% following the first policy meeting of 2023. Key Quotes “Very difficult to manage the risk of doing too little on rates.” “We …

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• 1 February 2023 11:33 pm

  Fed’s Reserve Statement Indicates Modest Growth, Fed’s View On Inflation

  

  The Fed has published its policy statement after deciding a fresh 25 basis point rate hike. The statement reads as follows: “Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated reflecting …

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• 1 February 2023 11:01 pm

  Breaking: Fed hikes policy rate by 25 bps as expected

  

  The US central bank on Wednesday announced that it raised the policy rate, federal funds rate, by 25 basis points to the range of 4.5-4.75% following the first policy meeting of 2023. This Fed’s decision came in line with the market expectation.

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• 1 February 2023 10:06 pm

  Gold abandons earlier gains, slides ahead of FOMC’s decision

  

  Gold price retreats from the day’s high and fails to hold to earlier gains after a busy US economic calendar released key data, which was worse than estimated. Gold was not able to benefits from the softer US dollar, while US Treasury bond yields continued to push downwards. At the …

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• 1 February 2023 9:29 pm

  Wall Street’s Optimism Faces FOMC’s Test

  

  Strong January as well as latest gains in the stocks market are driven by hope that the US interest rate hiking cycle is close to its end and that a pause is on the cards. If investors’ expectations are eventually found mistaken about this hope, a drop could be very …

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• 1 February 2023 8:45 pm

  FOMC’s policy change sets the scene for prolonged decline in the USD

  

  The dollar has continued to weaken since the onset of the new year. Economists do anticipate a policy change from the FOMC in the first quarter of 2023, which would set the scene for a more prolonged decline.Given that Inflation easing more than expected, markets forecast that the Fed will …

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• 1 February 2023 7:41 pm

  GBP/USD fluctuates on weaker US economic data, ahead of FOMC decision

  

  As the US Fed makes its decision later on Wednesday, the GBP/USD pair remains firm. A busy US economic calendar was not enough to lend support to the US dollar, which is under pressure amid the current risk-off situation.According to the ADP National Employment Change report, private hiring increased by …

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• 1 February 2023 7:15 pm

  US: ISM Manufacturing PMI declines to 47.4 in January

  

  The economic activity in the US manufacturing sector continued to contract at an accelerating pace in January with the ISM Manufacturing PMI dropping to 47.4 from 48.4 in December. This reading came in below the market expectation of 48. Underlying details of the report revealed that the Employment Index edged …

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• 1 February 2023 5:22 pm

  Fed Preview: Forecasts from 5 major banks

  

  If markets are expecting a 25 basis point hike and eventually a 50 basis point hike is announced, that would be somewhat of a surprise. So, markets would react … Read: What Do Markets Expect From First FOMC Decision in 2023? The US Federal Reserve will announce its monetary policy …

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• 1 February 2023 4:38 pm

  European shares rose, supported by the gains of the pharmaceutical sector

  

  European stocks rose on Wednesday, supported by gains in Novo Nordisk and other healthcare stocks, with eyes focused on the Federal Reserve’s interest rate decision later in the day. The pan-European STOXX 600 was up 0.3% by 0814 GMT, after a 6.7% jump last month when it posted its biggest …

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• 1 February 2023 2:52 pm

  Oil stabilizes as markets await the decisions of Fed and OPEC

  

  Oil prices were generally stable on Wednesday as markets awaited the meeting of OPEC and its allies, the Federal Reserve’s decision on interest rates, and US government data on crude and fuel inventories. Brent crude futures fell 11 cents, or 0.1 percent, to $85.35 a barrel by 0949 GMT, while …

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