Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 24 January 2023 12:49 am

  WTI struggles near seven-week high amid China holidays

  

  The WTI crude oil retreats from multi-day high amid lack of major positives, cautious mood ahead of key data. Sluggish markets, Lunar New Year in China limit energy buyers’ optimism.WTI crude oil remains sidelined around $81.70, after refreshing the multi-day high above $82.00 the previous day. In doing so, the …

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• 23 January 2023 11:46 pm

  USD/CAD hovers around 1.3375 ahead of the BoC’s decision

  

  The USD/CAD pair exchanges hands between 1.3342-1.3417, ahead of the BoC’s monetary policy decision. Analysts expect the BoC to raise rates by 25 bps and to pause. It is worth mentioning that The BoC would release monetary policy minutes for the first time in its history.The USD/CAD climbs toward the …

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• 23 January 2023 10:49 pm

  Lagarde: Inflation far too high in Europe

  

  The European Central Bank will keep raising interest rates quickly to get inflation under control as it remains far too high according to ECB President Christine Lagarde.On Monday, Lagarde was largely repeating the bank’s most recent policy guidance. EUR/USD has found support on the European Central Bank officials’ comments this …

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• 23 January 2023 9:44 pm

  Amid Optimistic views, PMIs In Eurozone Expected To Rise

  

  Preliminary PMIs by S&P Global for the Eurozone will be reported Tuesday, January 24 at 09:00 GMT. Headline manufacturing PMI is expected at 48.5 vs. 47.8 in December, services PMI is expected at 50.2 vs. 49.8 in December, and the composite is expected at 49.8 vs. 49.3 in December. Analysts …

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• 23 January 2023 7:39 pm

  Gold price drops more than 0.60% on surging T-yields

  

  The overall market sentiment on Monday is positive and rising US Treasury bond yields are boosting the US Dollar, driving the Gold Index, XAU/USD, downwards.Gold price has retreated from around the daily $1935.51 highs and dropped below $1915 as US Treasury bond yields recover some ground and underpin the dollar, …

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• 23 January 2023 4:47 pm

  Euro is at a 9-month peak following European indications of continued monetary tightening

  

  On Monday, the euro reached a nine-month high against the dollar, as comments indicating the European Central Bank’s intention to raise interest rates by large rates were met by market expectations of a less hawkish approach by the Federal Reserve. The euro reached $1.0927, surpassing a recent peak at $1.08875, …

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• 23 January 2023 3:11 pm

  Gold prices are falling and the dollar’s decline limits losses

  

  Gold prices fell on Monday, as investors await US economic data this week that may affect the Federal Reserve’s policy in the future, but the decline in the dollar limited the losses of the yellow metal. The spot gold price fell 0.2 percent to $1922.58 an ounce by 0914 GMT. …

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• 23 January 2023 2:14 pm

  European stocks rise, supported by Tech

  

  European stocks rose on Monday, supported by technology and real estate companies, as expectations that the euro zone will witness a slight recession erased the impact of the hawkish statements of European Central officials that pushed the euro to its highest level in nine months. The pan-European Stoxx 600 index …

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• 23 January 2023 1:41 pm

  Gold prices rose as a result of the dollar’s decline

  

  Gold prices initially rose in Asian markets on Monday, supported by a weaker dollar and prospects for the Federal Reserve to slow down interest rate hikes. And the price of gold rose 0.1 percent to 1929.04 dollars an ounce at 0014 GMT. There was little change in US gold futures …

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• 23 January 2023 12:54 pm

  Oil prices fell at the beginning of limited trading

  

  Oil prices fell on Monday in the beginning of limited trading due to the Lunar New Year holiday in East Asia, but maintained most of the gains made last week on the back of the possibility of an economic recovery in China, the largest oil importer, this year. Brent crude …

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• 23 January 2023 11:59 am

  Japan’s Nikkei rises, trailing Wall Street

  

  Japan’s Nikkei index jumped more than 1 percent on Monday, tracking a rally on Wall Street last week led by chip-related stocks. The Nikkei ended trading up 1.33 percent, recording 26,906.04 points, after rising earlier to 26,938.28 for the first time in a month. Of the 225 stocks listed on …

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• 23 January 2023 5:32 am

  Financial Markets’ Weekly Recap, January 16-20

  

  New Zealand’s prime minister, Jacinda Ardern, has said she is resigning, in an unexpected announcement that came as she confirmed a national election for October. At the party’s first caucus meeting of the year on Thursday, Ardern said she “no longer had enough in the tank” to do the job. …

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• 21 January 2023 4:43 am

  Market Drivers – US Session 20/01/2023

  

  Ahead of the weekend, the Japanese Yen weakened following the BoJ’s monetary policy meeting, with the BoJ resolute in keeping its dovish stance, and the Yield Curve Control (YCC). On the other hand, the Euro sharply rallies on Friday.The EUR/JPY pair managed to bounce off the day’s lows at 139.03 …

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