Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 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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• 18 January 2023 5:50 pm

  US: Retail Sales decline by 1.1% in December, PPI falls to 6.2%

  

  Retail Sales in the United States declined by 1.1% on a monthly basis in December. This follows November’s fall of 0.6% and misses consensus estimates for a 0.8% fall. Excluding autos, core retail sales also contracted by 1.1% during the reported month as compared to a 0.4% fall anticipated and a modest …

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• 18 January 2023 5:12 pm

  Reuters: Ukraine’s interior ministry leadership killed in a helicopter crash

  

  The three main figures in Ukraine’s interior ministry have been killed in a helicopter crash beside a nursery in an eastern suburb of the capital Kyiv. Interior Minister Denys Monastyrsky, 42, died alongside his first deputy minister and state secretary. Seventeen people died when the helicopter came down in Brovary …

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• 18 January 2023 5:00 pm

  Annual inflation Eurozone fell to 9.2% in December

  

  The European Union’s statistics office (Eurostat) said on Wednesday that the rate of consumer price inflation slowed in the single European currency area in December, as expected, thanks to the continued decline in energy prices after reaching record levels earlier. Eurostat added that prices in the twenty countries that share …

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• 18 January 2023 2:24 pm

  European stocks continue their gains, supported by earnings reports

  

  European stocks rose on Wednesday as risk appetite was supported by a batch of positive corporate earnings reports, with the index on track for its longest consecutive period of gains since November 2021. And by 0815 GMT, the European Stoxx 600 index rose 0.3 percent, supported by a rise in …

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• 18 January 2023 2:21 pm

  UK inflation fell to a 3-month low of 10.5% in December

  

  Britain’s consumer price inflation fell to a three-month low of 10.5% in December, providing some relief to the Bank of England and British households, but food and drink prices continued to rise at their fastest pace since 1977. The decline in the headline inflation rate from 10.7 percent in November …

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