Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 7 February 2023 1:08 pm

  RBA raises OCR by 25 bps to 3.35% in February

  

  The Reserve Bank of Australia (RBA) board members decided to raise its official cash rate (OCR) by another 25 basis points (bps) from 3.10% to 3.35%, as widely expected, when they met at their February 7 monetary policy meeting, the first of this year. According to the latest Reuters poll, …

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• 7 February 2023 12:45 pm

  Which Assets Await Fed Chair Powell’s Speech On Tuesday

  

  Investors and traders will be all ears as Fed Chair Jerome Powell delivers his speech on Tuesday. Bond yields continued to surge on Monday as traders assess the possibility that the Fed will postpone any talk about rate cuts until later in the year after Friday’s very strong jobs report.Markets …

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• 7 February 2023 12:34 pm

  Japan’s Nikkei closed lower ahead of Fed Chairman’s speech

  

  Japan’s Nikkei trimmed its gains to close lower on Tuesday as investors awaited Federal Reserve Chairman Jerome Powell’s speech, but a slew of corporate earnings left the market directionless. The Nikkei index fell 0.03 percent to close at 27,685.47 points, and cut the fourth consecutive winning session, after trading remained …

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• 7 February 2023 2:22 am

  Market Drivers – US Session 06/02/2023

  

  The US Dollar extended its Friday rally to fresh February highs against most major rivals, fueled by a dismal market sentiment. Investors and traders will be all ears as Fed Chair Jerome Powell delivers his speech on Tuesday. Bond yields continued to surge on Monday as traders assess the possibility …

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• 6 February 2023 11:39 pm

  Could Mann’s remarks explain BoE’s next moves?

  

  Catherine Mann, member of the Bank Of England’s Monetary Policy Committee, backed additional increases of the British central bank’s interest rates. On Monday, Mann warned that the otherwise, namely pausing, as called for by some of her colleagues could involve risk of creating a confusing policy jargon if it turned …

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• 6 February 2023 10:41 pm

  US Stocks Edge Lower On Accelerating Rate-linked Woes

  

  Wall Street’s indexes edged lower on Monday as investors await the US central bank’s Chair Jerome Powell’s speech for direction as well as clues on when the Fed could start interest rate cuts. The latest non-farm payrolls report highlighted the robust situation of the labour market in the United States …

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• 6 February 2023 9:37 pm

  EUR/USD declines to 4-week lows

  

  The EUR/USD retreated to fresh lows at around 1.0720s because of the stronger US dollar. Last week’s EU retail sales disappointed, while factory activity in Germany improved as orders rose as risks are tending to the downside.The EUR/USD extended its decline to new four-week lows at around 1.0720s due to …

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• 6 February 2023 8:29 pm

  Gold’s Decline Stopped By Bulls On Monday

  

  Last week’s strong US jobs report has sent warnings across financial markets that the Fed policymakers could reconsider their upcoming action.Gold price decline is generally stopped on Monday as bulls who entered the market at last Friday’s low of around $1860 and reclaimed $1870. The US Nonfarm Payrolls report and …

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• 6 February 2023 7:25 pm

  Canada’s Ivey PMI improves in January

  

  Canada Ivey PMI improved at a much stronger pace than expected in January. The USD/CAD pair continues to trade in positive territory near 1.3450. The Ivey Purchasing Managers Index (PMI), an economic index which measures the month-to-month variation in economic activity in Canada, climbed to 60.1 (seasonally adjusted) in January …

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• 6 February 2023 5:03 pm

  Britain is facing the largest strike of healthcare workers over wages

  

  Britain’s health workers began their biggest strike on Monday, as tens of thousands of nurses and paramedics went on strike amid an escalating row with the government over pay that will lead to further disruptions to the public health system. Nursing and ambulance workers have taken separate strikes since late …

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• 6 February 2023 3:23 pm

  Dollar is rising after strong US jobs data

  

  The dollar held firm against the euro on Monday, with traders expecting the Federal Reserve to likely raise the benchmark interest rate above 5 percent and keep it at that level to rein in inflation, after data revealed that the labor market remains strong. The Turkish lira fell to a …

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• 6 February 2023 3:19 pm

  Eurozone Retail Sales drop 2.8% YoY

  

  Eurozone’s Retail Sales dropped by 2.7% MoM in January versus -2.5% expected and 1.2% last, the official figures released by Eurostat showed on Monday. On an annualized basis, the bloc’s Retail Sales came in at -2.8% in January versus -2.5% recorded in December and -2.7% consensus forecast.

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• 6 February 2023 1:25 pm

  Gold is recovering but remains below $1,900 amid interest concerns

  

  Gold prices recovered some of their losses on Monday, but the strength of the dollar and fears that the Federal Reserve may continue to raise interest rates kept the yellow metal below the key level of $ 1900 an ounce. And by 0540 GMT, spot gold rose 0.6 percent to …

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