Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 25 January 2023 7:04 pm

  Bank of Canada hikes policy rate by 25 bps to 4.5%

  

  The Bank of Canada (BoC) announced on Wednesday that it hiked its benchmark interest rate by 25 basis points to 4.5% following the January policy meeting. This decision came in line with the market expectation. In its policy statement, the BoC noted that it is likely to hold the rate …

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• 25 January 2023 5:04 pm

  Tech pushes European stocks lower amid weak earnings

  

  European stocks fell on Wednesday as weak results from US software giant Microsoft weighed on the broader technology sector, while signs of improving economic prospects in the euro zone fueled concerns about further interest rate hikes. The European Stoxx 600 index fell 0.3 percent, recording a decline for the second …

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• 25 January 2023 2:49 pm

  German IFO Business Climate Index rises to 90.2 in January

  

  The headline German IFO Business Climate Index advanced to 90.2 in January versus the previous reading of 88.6 and the forecast of 90.2. Meanwhile, the Current Economic Assessment dropped to 94.1 points in the reported month as against December’s 94.4 and 95.0 expected. The IFO Expectations Index – indicating firms’ …

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• 25 January 2023 2:48 pm

  Oil decline on US inventories and hopes for a recovery in Chinese demand

  

  Oil prices fell on Wednesday, adding slightly to losses in the previous session, as rising US crude inventories and fears of a global recession offset optimism about a recovery in demand in China. Crude oil prices have risen this year amid China ending anti-coronavirus restrictions and hopes the Federal Reserve …

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• 25 January 2023 1:22 pm

  Gold falls as traders seek to secure profits ahead of US economic data

  

  Gold fell on Wednesday, continuing the decline from a level close to a nine-month peak, which it reached in the previous session, as some investors sought to speculate in a way that guarantees them profit. The dollar stabilized ahead of the release of US economic data that may determine the …

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• 25 January 2023 11:58 am

  BoC Preview: Forecasts from four major banks

  

  The Bank of Canada (BoC) is set to announce its interest rate decision on Wednesday, January 25 at 15:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of Four major banks, regarding the upcoming announcement. Wells Fargo …

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• 25 January 2023 3:50 am

  Market Drivers – US Session 24/01/2023

  

  The US dollar dropped against the Euro and had weaker performance despite solid US manufacturing data that stirred some livelihood into markets ahead of key events for the days ahead. Most markets are awaiting clues concerning inflation from the US growth updates in the US economy. The US 10-year yield …

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• 25 January 2023 2:49 am

  Wall Street fights for direction, but Dow closes higher for third consecutive day

  

  US stocks tended to fight for direction on Tuesday, but the Dow Jones Industrial Average finished higher. The index gained 104.40 points, or 0.31%, to close at 33,733.96. The S&P 500 dipped 0.07% to settle at 4,016.95, while the Nasdaq Composite dropped 0.27% to end at 11,334.27.The Dow Jones Industrial …

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• 25 January 2023 1:55 am

  Microsoft beats earnings expectations despite cloud growth slowdown

  

  Microsoft announced its Q2 earnings after the bell on Tuesday, beating on expected earnings per share. Despite the beat on earnings per share, Microsoft’s cloud business continued to slow in the quarter. The company reported its Intelligent Cloud segment grew 18% in the quarter, while its Azure services grew 31%. …

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• 25 January 2023 12:42 am

  Gold tests critical resistance as traders await key events

  

  Gold price is running into a critical resistance area on all charts. Gold selloff could eventually lead to significant fears lest it should run towards $1,900. Gold price is advancing on the day into the final push on Wall Street and rallied from a low of $1,917.22 to a high …

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• 24 January 2023 11:41 pm

  January set to prove best Bitcoin’s month since October 2021

  

  Bitcoin rallied more than 37% in the first month of the new year. The famous cryptocurrency is expected to have January as its best monthly return since October 2021.Analysts pointed to the weaker US dollar, inflation expectations, and institutional buying support catalyzing this rally. The fading impact from squeezed short …

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• 24 January 2023 10:49 pm

  USD/CAD consolidates ahead of BoC, key data

  

  The USD/CAD pair is eagerly awaiting BoC’s rate decision this week and the build-up momentum ahead of the Fed’s policy meeting next week. The USD/CAD is flat on the day following stock market volatility. The USD/CAD is flat on the day after journeying between the 1.3346 low and the 1.3413 …

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• 24 January 2023 9:42 pm

  European markets close lower despite Eurozone’s return to growth

  

  Tuesday’s latest purchasing managers’ index data from the Eurozone in January and the first signs of the corporate earnings season are being digested by investors as European markets ended lower on Tuesday.The pan-European Stoxx 600 index decreased by 0.2%, with losses led by the oil and gas and health care …

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