Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 9 February 2023 11:00 am

  Oil rose for the fourth day, supported by Chinese demand

  

  Oil rose in early trading on Thursday, extending its gains for the fourth day in a row, as crude loading disruptions in Turkey and optimism about the continued recovery of demand in China boosted sentiment. By 0239 GMT, Brent crude futures were up 14 cents, or 0.2 percent, at $85.26 …

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• 9 February 2023 4:10 am

  Market Drivers – US Session 08/02/2023

  

  The GBP/USD pair trades around 1.2070, holding on to modest intraday gains. The Euro is one of the weakest rivals of the US dollar. The shared currency is trading at 1.0716 as ECB policymakers repeated their hawkish language. ECB’s Klaas Knot said that headline inflation appears to have peaked but …

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• 9 February 2023 3:12 am

  Biden confirms US intention to compete with China, not seeking conflict

  

  US President Biden confirmed that relations with China have not taken a big hit. “We intend to compete completely with China but we are not seeking conflict, as that has been the case so far,” Biden said during a PBS interview late Wednesday.Biden’s comments join the recent statements from US …

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• 9 February 2023 2:05 am

  Yellen: Inflation elevated, but encouraging signs do exist

  

  US Treasury Secretary Janet Yellen said on Wednesday “Over the past two years, we have worked successfully to ease supply chain pressures, and that includes funding pop-up container yards and moving several ports to 24/7 operations.”“While inflation remained elevated, there were encouraging signs that supply-demand mismatches were easing in many …

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• 9 February 2023 1:12 am

  USD/CAD bulls step between dovish BoC, hawkish Fed

  

  The USD/CAD bulls are moving ahead despite Tuesday’s bearish close. The US Dollar has firmed on hawkish sentiment around the US Fed again versus seemingly dovish stance adopted by the Bank of Canada.. There is a 61.8% Fibonacci retracement level near 1.3350 below the neckline near 1.3380. However, given that …

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• 8 February 2023 11:45 pm

  Bank of Canada’s summary of deliberations ahead of Jan rate hike

  

  An account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 25, 2023 was released on Wednesday as follows:“Members framed the decision along two dimensions: • whether to leave the policy rate where it was or to increase it by 25 …

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• 8 February 2023 10:17 pm

  WTI surges to fresh highs on improved risk appetite

  

  WTI is registering solid gains of 0.43% on Wednesday. Less hawkish comments by Fed Chair Jerome Powell seem to reinforce oil prices.The US crude oil benchmark, edges up by a margin of 0.50% as a risk-on impulse hits the market, which, worried about an astonishing US jobs report, expected a …

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• 8 February 2023 9:38 pm

  Russia warns of consequences after UK fighter jet deliveries to Ukraine

  

  British fighter jet deliveries to Ukraine would have military and political ramifications for the entire European continent according to the Russian embassy in London.The headlines from Tass follow Ukrainian President Volodymyr Zelensky’s call for deliveries of British warplanes to ensure a victory that would “change the world.”There has been little …

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• 8 February 2023 8:38 pm

  Uber beats estimates, stock is up

  

  Uber reported Q4 earnings on Wednesday that beat analysts’ estimates. In a prepared statement, CEO Dara Khosrowshahi said Uber ended 2022 with its “strongest quarter ever,” capping off its “strongest year.”For the first quarter of 2023, Uber said it expects gross bookings to grow between 20% and 24% year over …

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• 8 February 2023 7:40 pm

  ECB’s Knot: Headline inflation appears to have peaked

  

  On Wednesday, ECB policymaker Klaas Knot said that the headline inflation appears to have peaked, adding that keeping current pace of hikes into May could well be needed if underlying inflation does not materially abate.Knot’s comments do not seem to be helping the Euro gather strength against its rivals. As …

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• 8 February 2023 2:33 pm

  European stocks hit the highest level in 9 months

  

  European stocks hit their highest level in more than nine months on Wednesday, as investors got positive cues from Federal Reserve Chairman Jerome Powell’s comments on Tuesday, while the upbeat outlook of Linda and Akzo Noble led to higher materials stocks. Crude and chemicals. The pan-European STOXX 600 index was …

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• 8 February 2023 1:24 pm

  Gold rises after Fed eased its stance on interest rates

  

  Gold prices rose on Wednesday as the dollar retreated from a one-month peak after comments from Federal Reserve Chairman Jerome Powell deemed less hawkish. By 0744 GMT, spot gold rose 0.4 percent to $1880.97 an ounce, and US gold futures rose 0.4 percent to $1880.10. Lower interest rates benefit gold …

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• 8 February 2023 12:07 pm

  Oil jumps for the third day

  

  Oil prices rose in early trading on Wednesday, extending gains from the past two days, as the dollar fell after Federal Reserve Chairman Jerome Powell appeared less hawkish on interest rates than markets had expected, and as US crude inventories fell surprisingly. Brent crude futures rose 11 cents, or 0.1 …

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