Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 2 February 2023 6:10 am

  WTI tries to benefit from weaker US dollar

  

  The WTI crude oil hovers around three-week low after falling the most in a month. Wednesday witnessed climbing EIA Crude Oil stocks as an additional mixed clue surrounding global economic scene that is tending to favour oil bears.WTI crude oil managed to trim latest losses around the three-week low as …

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• 2 February 2023 3:00 am

  Has FOMC Decision Dragged US Dollar Index Lower?

  

  The US Dollar Index hit lowest level in almost three weeks on Fed’s dovish hike. The Federal Reserve’s decision came in line with 0.25% rate hike expectations but the dovish signals came in Jerome Powell’s remarks about easing inflation in the United States, these signals were most welcome by DXY …

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• 2 February 2023 1:59 am

  USD/CAD erases post-FOMC decline as investors digest Powell’s remarks

  

  Bears are busy reading between the lines and digesting Jerome Powell’s speech. They are cautiously concluding that the US disinflationary process has started. The USD/CAD pair is under pressure and recording fresh multi-day lows retreating to 1.3274 before the latest reading at 1.3290 at the time of writing.The Fed’s rhetoric …

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• 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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