Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 3 February 2023 5:13 pm

  Oil stabilizes as the market awaits demand recovery in China and the EU ban

  

  Oil prices stabilized on Friday, but were heading to record losses for the second week, as the market awaited other indications of a recovery in fuel demand in China and the extent of the impact of an embargo imposed by the European Union on Russian oil products and a ceiling …

  Read More »
• 3 February 2023 4:02 pm

  Gold rose slightly as investors awaited the US jobs report

  

  Gold prices settled in a narrow range on Friday, as cautious investors assessed the statements of global central banks and awaited the US Nonfarm Payrolls report. After losing nearly two percent in the previous session, spot gold rose 0.2 percent to $1915.42 an ounce by 0930 GMT. US gold futures …

  Read More »
• 3 February 2023 3:06 pm

  Dollar rose as investors awaited US jobs data

  

  The dollar rose slightly on Friday to maintain some momentum, after jumping in the previous session following a series of decisions by central banks in Europe. Trading was relatively subdued as markets awaited the release of the latest US jobs data later in the day, which could change Federal Reserve …

  Read More »
• 3 February 2023 1:23 pm

  European stocks fell, affected by the weak profits of US technology companies

  

  European stocks fell on Friday, weighed down by losses in technology stocks, after disappointing overnight earnings for their major US counterparts reignited concerns about global economic demand and the impact of rising interest rates. The pan-European Stoxx 600 index was down 0.5 percent by 0812 GMT. Nevertheless, the index is …

  Read More »
• 3 February 2023 12:41 pm

  Turkey’s annual inflation is near 58%, exceeding expectations

  

  Official data showed on Friday that Turkey’s annual inflation fell to 57.68 percent in January, but much higher than expectations. The Turkish Statistical Institute said consumer prices rose 6.65 percent month-on-month, nearly double the 3.8 percent forecast in a Reuters poll. On an annual basis, the survey expected consumer price …

  Read More »
• 3 February 2023 12:40 pm

  Gold stabilizes after heavy selling, but is heading for a weekly decline

  

  Gold prices stabilized on Friday after heavy selling in the previous session, as traders absorbed the statements of global central banks regarding raising interest rates, but the yellow metal is heading to record its first weekly decline in seven weeks in light of the strength of the dollar. And by …

  Read More »
• 3 February 2023 12:38 pm

  Japan’s Nikkei closes at a 7-week high and Sony jumps thanks to strong expectations

  

  Japan’s Nikkei closed at a seven-week high on Friday, buoyed by Nasdaq’s strong performance overnight, with Sony and others leading the index higher after announcing strong growth expectations. The Nikkei index rose 0.39 percent to close at 27,509.46 points, the highest closing level since December 16. The index rose 0.46 …

  Read More »
• 3 February 2023 12:37 pm

  Oil is heading for weekly losses while waiting for signs of recovery in China

  

  Oil prices made modest gains in early trading on Friday, but were set to incur losses for the second week in a row, as the market looked for more indications of a strong recovery in fuel demand in China to offset the impact of looming recession in other major economies. …

  Read More »
• 3 February 2023 3:34 am

  Market Drivers – US Session 02/02/2023

  

  The dollar recovered most of the ground lost in the aftermath of the Fed’s decision amid ECB and BOE monetary policy announcements. The dollar edged higher against most major rival currencies, with the JPY being its strongest rival and the GBP the weakest.Stock markets advanced, partially limiting US Dollar gains. …

  Read More »
• 3 February 2023 2:28 am

  How could USD React to January’s NFP Data?

  

  On Friday, the US will release the official employment report for January.  Some analysts expect a 220K increase in payroll and a modest increase in the unemployment rate to 3.6%. Other expectations suggest 185,000 rise in Nonfarm Payrolls data following the 223,000 increase in December. The first US NFP report …

  Read More »
• 3 February 2023 1:29 am

  CBE keeps Egypt’s rates unchanged

  

  Contrary to most expectations, Egypt’s central bank kept interest rates unchanged for the first time since September, stating that it was monitoring the effects of last year’s cycle of monetary tightening on inflation which is at its highest level since 2018. The Monetary Policy Committee maintained the deposit rate at …

  Read More »
• 3 February 2023 12:30 am

  USD/CAD surges on stronger US Dollar

  

  The latest interest rate hike decided by the Fed was a shock for the USD/CAD on Wednesday, dragging the pair to fresh year-to-day lows. Falling oil prices and solid US labour market data underpinned the pair. As expected, USD/CAD traders are eyeing Friday’s US Nonfarm Payrolls data alongside ISM Non-Manufacturing …

  Read More »
• 2 February 2023 11:30 pm

  Wall Street’s rally continues on tech stocks

  

  Wall Street is rallying on Thursday, led by enthusiasm mainly stirred by tech stocks and a significant surge of Meta; Facebook’s parent company.The S&P 500 was 1.5% higher in midday trading a day after hitting its highest level since August. The Nasdaq composite was 3.1% higher, as of 12:35 p.m. …

  Read More »