Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 19 January 2023 3:12 pm

  Gold shines as investors evaluate chances of slowing US rate hikes

  

  Gold prices rose on Thursday, as investors assessed the chances of the Federal Reserve slowing the pace of raising interest rates, while the rise of the dollar curbed the gains of the yellow metal. And by 0252 GMT, gold in instant transactions increased 0.1 percent to $ 1906.01 an ounce. …

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• 19 January 2023 2:32 pm

  Jacinda Ardern resigns as prime minister of New Zealand

  

  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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• 19 January 2023 1:44 pm

  European stocks are heading to end their series of gains due to slowdown fears and weak earnings

  

  European stocks were heading on Thursday to halt a series of consecutive gains over six sessions, after lackluster US economic data stoked fears of a global economic slowdown, and investor sentiment was also affected by non-negative European corporate earnings. The pan-European Stoxx 600 index was down 0.6 percent by 0815 …

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• 19 January 2023 12:28 pm

  Nikkei index retreating, Yen’s rise is putting pressure on export companies

  

  On Thursday, the Japanese Nikkei index recorded the largest decline in two weeks, retreating from its highest level in a month, with the fading effect of the Bank of Japan’s decision to maintain its stimulus policies, as well as the rise in the yen, which pressured the shares of export …

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• 19 January 2023 2:47 am

  Market Drivers – US Session – 18/01/2023

  

  The US Dollar closed with gains against most major rivals, ON Wednesday, reverting earlier losses when it traded at fresh lows. Global yields fell, initially weighing on the US Dollar, later reflecting risk aversion and rising alongside the dollar.Wall Street started the day with modest gains but ended up collapsing, …

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• 19 January 2023 1:59 am

  WTI drops 1% as US recession concerns diminish China recovery hopes

  

  Oil prices fell about 1% on Wednesday, abandoning early gains as worries about a probable US recession outweighed optimism that China’s lifting of COVID-19 curbs will fuel demand for crude in the world’s top oil importer.Brent futures fell 94 cents, or 1.1%, to settle at $84.98 a barrel. U.S. West …

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• 19 January 2023 12:50 am

  Harker supports Fed’s moving to 25bp rate hikes

  

  Philadelphia Fed’s Patrick Harker, on Wednesday, said that he is willing for the US central bank to move to a slower pace of interest rate hikes as a reaction to some signals that denote how hot inflation is cooling.“High inflation is a scourge, leading to economic inefficiencies and hurting Americans …

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• 18 January 2023 11:57 pm

  US Stocks hand back previous gains as January’s rally loses momentum

  

  US Stocks gave back earlier gains on Wednesday as investors put an end to the new year’s rally, now in its third week. The latest reversal could be attributed to a combination of fluctuations as well as skittishness and profit taking.The Dow Jones Industrial Average fell 436 points, or 1.3%, …

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• 18 January 2023 11:07 pm

  Fed’s Mester: Rates need to rise “a little bit” above 5%

  

  The Fed needs to raise interest rates a “little bit” above the 5.00% to 5.25% range in order to bring inflation to heel, Cleveland Fed President Loretta Mester said on Wednesday, as she declined to disclose her preferred size of move at the upcoming policy meeting.“We’re not at 5% yet, …

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• 18 January 2023 10:04 pm

  Could Congress prevent US debt ceiling disaster?

  

  Concerns that the federal government could hit its debt ceiling spiked after Treasury Secretary Janet Yellen sent a letter to party leaders in Congress urging them to raise the debt limit before the expected deadline on Thursday.Congress can prevent economic disaster by increasing or suspending the limit, as they have …

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• 18 January 2023 9:08 pm

  Gold fluctuates around $1906 after snapping two-day losses

  

  Gold price snaps two days of straight losses, gaining traction on Wednesday, as the US dollar slides to eight-month lows around 101.528 but lately has recovered some ground and exchanged hands around 101.871. Another reason that keeps the XAU/USD underpinned is falling US Treasury bond yields, with the 10-year note …

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• 18 January 2023 8:18 pm

  Lower T-yields, weaker US dollar drag USD/CHF lowest since November 2021

  

  The Swiss Franc sharply rises versus US dollar and the Euro. Expectations about a less hawkish ECB do support the Swiss Franc, so far, the USD/CHF pair falls for the fifth consecutive day on Wednesday.The USD/CHF is falling by almost a hundred pips on Wednesday after trimming some losses during …

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• 18 January 2023 8:00 pm

  Fed’s Jerome Powell tests positive for Covid

  

  “Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news release by the US Federal Reserve said on Wednesday. Powell, 69, is “experiencing mild symptoms,” according to the announcement. Powell’s most …

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