Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 23 February 2023 12:35 am

  AUD/USD falls following FOMC minutes

  

  The first minutes of the FOMC in 2023 showed that some Fed officials wanted a 50 bps rate hike. Policymakers’ worries are linked to a tight labor market and commented inflation risks are tilted upwards. The AUD/USD pair prolonged its losses during the Wednesday session and dropped nearby the day’s …

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• 22 February 2023 11:46 pm

  RBNZ’s Orr: Core inflation too high, expectations elevated

  

  The Reserve Bank of New Zealand’s governor, Adrian Orr has said that core inflation is too high and that expectations are elevated.Orr has voiced concerns over the difficulties people faced paying for goods and services while power, communications and services were down in flood-affected regions.Orr indicated he was not happy …

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• 22 February 2023 11:06 pm

  FOMC minutes: A few participants favored raising rates by 50 basis points

  

  The first FOMC Minutes in 2023 has been released with investors searching for further insights into the near-term path for policy and any comments regarding the possibility of the Federal Reserve going back to 50 bps hikes. The US Dollar ran higher from a new low at 104.25 in the …

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• 22 February 2023 9:58 pm

  Stocks Pause Early Gains Ahead Of FOMC Minutes

  

  Stock indices are mixed after giving up their earlier gains. The Nasdaq 100 (NDX), S&P 500 (SPX), and Dow Jones Industrial Average are roughly flat as of 11:47 a.m. EST, Wednesday.US Stock indices opened Wednesday’s trading with generally positive performance but close to the flatline in anticipation of the minutes …

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• 22 February 2023 8:30 pm

  Gold prices hold firm ahead of the FOMC minutes

  

  Gold holds firm at around $1,835 as traders awaiting Fed minutes. Money market futures began to price in interest rates in the US in the 5.25%-5.50% range.Gold price recovers some ground, though it remains almost flat compared to its opening price. However, it clings to minimal gains before the release …

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• 22 February 2023 7:28 pm

  US Dollar Expected To Reap Gains If FOMC Minutes Adopt Hawkish Tone

  

  Economists and analysts see that the US dollar is trading narrowly mixed. They also believe that a hawkish tone in FOMC Minutes could push the dollar higher. There are no major data releases scheduled for US session on Wednesday. However, the Fed releases the Feb 1 FOMC minutes. The chances …

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• 22 February 2023 5:44 pm

  Wall Street climbs as investors await the minutes of the Federal Reserve meeting

  

  Wall Street’s major indices opened higher on Wednesday, a day after their worst performance this year, as investors await minutes from the Federal Reserve’s policy meeting in search of new clues to the path of interest rates. The Dow Jones industrial average advanced 39.74 points, or 0.12 percent, to 33,169.33 …

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• 22 February 2023 4:57 pm

  Morgan Stanley ups 2023 oil demand growth estimate by 36%, flags Russia risk

  

  By pointing to increasing momentum in China’s economy and a rebound in aviation, Morgan Stanley has increased its projection for this year’s global oil demand growth by approximately 36%. But, it has also noted greater production from Russia as an offsetting factor. The bank stated in a report dated Tuesday …

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• 22 February 2023 4:24 pm

  Higher car prices drive Stellantis to 2022 net profit beat

  

  Stellantis NV announced a new share buyback program for 2023 after the automaker posted better-than-expected annual profit, thanks to price hikes that helped outweigh lower car shipments in Europe and elevated input costs. The automaker formed from a merger between Fiat Chrysler and Peugeot-owner PSA Group in 2021 reported a 26% year-on-year jump …

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• 22 February 2023 3:40 pm

  Danone eyes better margins in 2023, Q4 sales top estimates

  

  Shares in Danone SA rose on Wednesday after the French food products group reported better-than-expected fourth quarter sales that were fueled by higher prices. Total sales during the three months to the end of December jumped by 12% on a reported basis to €7.01B (€1 = $1.0644), mainly driven by stronger pricing and …

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• 22 February 2023 2:46 pm

  Italy Jan EU-harmonised CPI revised to +10.7% y/y

  

  Italian EU-harmonised consumer prices (HICP) fell 1.5% month-on-month in January and were up 10.7% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data. The preliminary estimate had pointed to -1.3% month-on-month and +10.9% year-on-year. January’s +10.7% annual rate was down from +12.3% in December. …

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• 22 February 2023 1:55 pm

  European stocks are falling on falling mining stocks and interest rate fears

  

  European stocks opened lower on Wednesday, weighed down by a drop in mining stocks due to a fall in metals prices, and strong economic data raised concerns that interest rates will remain high for a longer period. The pan-European Stoxx 600 index was down 0.4 percent by 0809 GMT. Investors …

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• 22 February 2023 1:00 pm

  A slight rise in gold amid ahead of Fed

  

  Gold prices rose slightly on Wednesday as investors awaited the minutes of the latest monetary policy meeting at the Federal Reserve to assess the chances of further raising interest rates. Spot gold rose 0.1 percent to $1,835.79 an ounce by 0643 GMT. And gold futures contracts in the United States …

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