Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 12 January 2023 5:46 am

  Market Drivers – US Session 11/01/2023

  

  The US Dollar Index has displayed negative performance for the second consecutive day around seven-month low. Dovish comments from Fed officials as well as mixed US data are among factors that do renew hopes for slowing down the pace of rate hiking and this tendency could hamper the DXY. Risk-on …

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• 12 January 2023 5:18 am

  America’s CPI Preview: Forecasts by 10 major banks

  

  The annual CPI is expected to decline to 6.5% from 7.1% in November and see the Core CPI, which excludes volatile food and energy prices, edging lower to 5.7% from 6%. On a monthly basis, the CPI is forecast to stay unchanged while the Core CPI is expected to rise …

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• 12 January 2023 1:58 am

  EUR/USD edges higher on ECB’s comments, weaker US dollar

  

  The EUR/USD pair rallied benefiting from the weaker US dollar and ECB hawkish commentary. The US central bank Chair Jerome Powell’s speech on Tuesday did not provide any guidance concerning the future of the US monetary policy ahead of the awaited Thursday’s US CPI report with estimates at 0% MoM …

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• 12 January 2023 12:54 am

  Could CPI data push gold prices above $1,900?

  

  Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce earlier on Wednesday. At the time of writing the precious metal is trading at $1876.80 per ounce.Investors normally flock to assets that offer regular returns, such as government bonds, when interest rates are …

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• 12 January 2023 12:00 am

  Fed’s Collins backs a slowdown on rate hikes

  

  Boston Federal Reserve’s Susan Collins backs a slowdown in the US interest rate increases. Collins also noted that she was leaning toward a quarter-point move at the FOMC’s next meeting on February 1.“I think 25 or 50 would be reasonable; I’d lean at this stage to 25, but it’s very …

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• 11 January 2023 10:56 pm

  How commodities react to monetary policy, China’s news

  

  On Wednesday, the metal rose 1.1% to $9,013.50 on the London Metal Exchange (LME), posting its fifth consecutive daily gain. At the time of writing, the key industrial metal is trading at $4.17 per pound for the first time since June, versus the previous closing price on Tuesday at $4.07. …

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• 11 January 2023 10:09 pm

  Goldman: Oil could surge up to $110 by Q3

  

  Commodity prices, particularly crude oil, are expected to corelate will China’s reopening after Lunar New Year celebrations later in January, according to Goldman Sachs Group Inc.“What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview on …

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• 11 January 2023 8:44 pm

  T-yields fall ahead of CPI data

  

  Treasury yields retreated on Wednesday, on the eve of the key consumer price data release. The yield on benchmark 10-year Treasury notes fell 5.9 basis points to 3.560%. Yields move inversely to their price. The market expects inflation to ease and the Fed could cut interest rates by the end …

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• 11 January 2023 7:55 pm

  Gold attempts to surge on slower Fed rate hikes expectation

  

  Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce on Wednesday. At the time of writing the precious metal is hovering around $1872 per ounce.Gold has got the opportunity to shine again, as investors are betting that the aim of cooling hot …

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• 11 January 2023 7:02 pm

  EIA forecast oil prices to decline beginning 2023’s second half

  

  In their January 2023 Short-Term Energy Outlook, the official website of the governmental US Energy Information Administration (EIA), forecasts Brent crude oil price to rise from an average $81 per barrel recorded in December 2022 to average $83/b in the first quarter of 2023 (1Q23). The EIA also expects this …

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• 11 January 2023 5:45 pm

  A slight rise in oil, with the rise in US inventories

  

  Oil prices rose slightly on Wednesday, amid an unexpected increase in US crude and fuel inventories, global economic uncertainty and China’s reopening of its economy. Brent crude futures rose 53 cents, or 0.7 percent, to $80.63 a barrel by 0921 GMT. US West Texas Intermediate crude futures rose 41 cents, …

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• 11 January 2023 3:55 pm

  API: US oil stocks rose by 14.8 million barrels

  

  The American Petroleum Institute said that crude oil inventories rose by 14.8 million barrels in the week ending on the sixth of January. In its weekly report, the Petroleum Institute stated that gasoline stocks rose by 1.8 million barrels, and distillate stocks increased by 1.1 million barrels. Today, Wednesday, the …

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• 11 January 2023 2:29 pm

  European shares rose, supported by the reopening in China and optimism about interest rates

  

  European stocks rose on Wednesday, supported by the rise in shares of the German company Bayer and the French LVMH group, amid investor optimism about the reopening of the economy in China and hopes of slowing the pace of raising US interest rates. The Stoxx Europe 600 index was up …

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