Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 9 January 2023 8:57 pm

  Gold closer to eight-months highs as US Dollar retreats

  

  Gold price holds onto latest gains as the rally in Wall Street continues. Monday’s weaker US Dollar offers support to the Gold Index that continues to look forward to $1,880.Strong demand for Treasury bonds as market participants await a less hawkish Fed. Gold prices are holding up and near the …

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• 9 January 2023 7:43 pm

  EUR/USD climbs to 4-week highs past 1.0730

  

  The EUR/USD pair picks up extra pace and trespasses the 1.0700 barrier. The dollar remains on the defensive and drops to 7-month lows. Bulls push harder at the beginning of the week and lift EUR/USD to the 1.0730 region for the first time since mid-December.EUR/USD leaves behind the 1.0700 barrier …

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• 9 January 2023 6:21 pm

  Market Drivers – European Session 9/1/2023

  

  European stocks rose Monday, January 9, extending the year’s positive start to the year for a second week, as China reopened its borders and US and European data contributed to calming concerns about the strong tightening of monetary policy by central banks. The pan-European Stoxx 600 rose 0.3%. The index …

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• 9 January 2023 6:16 pm

  Biden declares a state of emergency in California due to storms

  

  US President Joe Biden has adopted a declaration of a state of emergency in California due to storms that have killed at least 12 people over the past ten days and cut off power to hundreds of thousands of homes and businesses in the state. The White House said in …

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• 9 January 2023 5:12 pm

  The unemployment rate in the eurozone was unchanged in November as expected

  

  The European Union’s statistics office (Eurostat) said on Monday that the unemployment rate in the euro zone was unchanged in November and remained at a record low level as expected, as the number of unemployed fell slightly. He added that the unemployment rate in the 20 euro countries was 6.5 …

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• 9 January 2023 3:33 pm

  Russian ruble rises on the first working day of the new year

  

  The Russian ruble started the first days of full trading in the new year on the rise, and rose from levels that are the lowest in 6 months, which it reached in volatile transactions in late 2022. The ruble advanced 1.4% against the dollar on Monday, January 9, to reach …

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• 9 January 2023 2:52 pm

  Dollar near its lowest level in seven months after the jobs data

  

  On Monday, the dollar approached its lowest level in seven months against other major currencies, after data last week showed that the Federal Reserve may slow the pace of decisions to raise interest rates, while the reopening of Chinese borders boosted higher-risk currencies. The yuan in foreign transactions approached its …

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• 9 January 2023 1:12 pm

  European stocks rise with support for reopening in China

  

  European stocks rose on Monday, extending a positive start to the year for a second week, as China reopened its borders and US and European data eased concerns about the aggressive tightening of monetary policy by central banks. The pan-European Stoxx 600 index was up 0.3 percent by 0812 GMT. …

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• 9 January 2023 11:30 am

  German Industrial Production rises in November

  

  Industrial Production in Germany increased in November, the official data showed on Monday, suggesting that the manufacturing sector is showing some signs of recovery. Eurozone’s economic powerhouse’s Industrial Output rose by 0.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs -0.1% prior. …

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• 9 January 2023 11:19 am

  Stability of USD as investors assess the path of raising interest rates

  

  The dollar stabilized on Monday after investors digested a batch of economic data released last week that raised hopes that the Federal Reserve would slow the pace of interest rate hikes. Data on Friday showed that non-farm payrolls in the United States increased by 223 thousand jobs in December, while …

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• 9 January 2023 10:29 am

  Oil prices rise after China opens its borders

  

  Oil prices rose on Monday, a day after an influx of travellers into China following the reopening of borders raised expectations for fuel demand and partially offset fears of a global recession. Brent crude futures rose 90 cents, or 1.2 percent, to $79.47 a barrel by 0520 GMT, while US …

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• 9 January 2023 5:42 am

  Financial Markets’ Weekly Recap, January 2-5

  

  Wall Street’s major indices closed higher on Friday, supported by reports that although jobs increased in the United States more than expected, wage increases slowed and services activity contracted, easing concerns about the path of interest rate hikes by the Federal Reserve. The data published by Automatic Data Processing (ADP) …

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• 7 January 2023 11:24 pm

  What Could New House Speaker McCarthy Mean For Financial Markets?

  

  Kevin McCarthy, the California Republican, is officially the new speaker of the US House after a hot Capitol Hill drama that continued for almost four days and 15 rounds of votes. If the House chaos for electing a new speaker had continued for weeks, the financial markets could have worried …

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