Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 22 February 2023 2:46 pm

  Italy Jan EU-harmonised CPI revised to +10.7% y/y

  

  Italian EU-harmonised consumer prices (HICP) fell 1.5% month-on-month in January and were up 10.7% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data. The preliminary estimate had pointed to -1.3% month-on-month and +10.9% year-on-year. January’s +10.7% annual rate was down from +12.3% in December. …

  Read More »
• 22 February 2023 1:55 pm

  European stocks are falling on falling mining stocks and interest rate fears

  

  European stocks opened lower on Wednesday, weighed down by a drop in mining stocks due to a fall in metals prices, and strong economic data raised concerns that interest rates will remain high for a longer period. The pan-European Stoxx 600 index was down 0.4 percent by 0809 GMT. Investors …

  Read More »
• 22 February 2023 1:00 pm

  A slight rise in gold amid ahead of Fed

  

  Gold prices rose slightly on Wednesday as investors awaited the minutes of the latest monetary policy meeting at the Federal Reserve to assess the chances of further raising interest rates. Spot gold rose 0.1 percent to $1,835.79 an ounce by 0643 GMT. And gold futures contracts in the United States …

  Read More »
• 22 February 2023 11:56 am

  US Dollar and GBP derive support from the recovery of corporate activities in America and Britain

  

  The dollar and the pound sterling found support on Wednesday after a sudden revival in corporate activity in the United States and Britain raised the possibility that both countries’ central banks would continue to raise interest rates. The euro compensated for some of the losses recorded in the last session, …

  Read More »
• 22 February 2023 11:45 am

  German inflation rose to 8.7%

  

  Inflation in Germany rose during the second reading month of January to 8.7% from 8.6% previously, in line with expectations. Energy prices rose by 23.1% despite government relief measures, as domestic energy prices jumped by 36.5%, specifically natural gas, which rose by 51.7%. The prices of firewood, wood pellets and …

  Read More »
• 22 February 2023 11:37 am

  Oil is falling on expectations that the interest rate hike will reduce fuel demand

  

  Oil extended its losses on Wednesday on expectations that the Federal Reserve will signal that it will continue to raise interest rates in comments it will issue on Wednesday, raising concerns about slowing economic growth as well as demand for crude. Brent crude futures for April delivery were down 23 …

  Read More »
• 22 February 2023 10:54 am

  Nikkei closed at its lowest level in a month

  

  The Japanese Nikkei index closed at its lowest level in a month on Wednesday, affected by a broad wave of selling amid global political tensions and fears that raising interest rates in the United States will lead to a slowdown in the global economy. The Nikkei index lost 1.34 percent …

  Read More »
• 22 February 2023 2:11 am

  Market Drivers – US Session 21/02/2023

  

  Wall Street returned from the long weekend and stayed in the red territory. US indexes are sharply down, losing roughly 2% each.EUR/USD trades at around 1.0650, not far from an early low at 1.0636. GBP/USD hovers around 1.2110, with the Pound supported by upbeat local data. The USD/JPY flirts with …

  Read More »
• 22 February 2023 1:57 am

  Worst day of 2023 suffered by Wall Street on interest rate concerns

  

  Wall Street suffered from its worst performance of the year on Tuesday, with the main indexes closing down as investors interpreted the recent rebound in US business activity in Feb. as signaling interest rates will need to stay higher for longer to combat inflation.As for the S&P 500 and Nasdaq …

  Read More »
• 22 February 2023 12:51 am

  Pound Sterling Best Performer following positive UK data

  

  The GBP/USD pair rallied from a 50% mean reversion of Friday’s bullish run and broke to 1.2150 on Tuesday, breaking a key resistance around 1.2050 which has invalidated the prior downside bias.The pound sterling achieved strong gains during the US session, Tuesday, and was the most major currency gainer, by …

  Read More »
• 22 February 2023 12:11 am

  FOMC Minutes: Have Fed policymakers considered switching to larger rate hikes?

  

  On Wednesday, February 22, the first FOMC Minutes in 2023 will be released. Supported by aggressive Fed rhetoric and rising T-yields, the US Dollar Index is expected to record monthly gains. The majority of traders and investors will scan the impending release for comments and quotes referring to the Fed’s …

  Read More »
• 21 February 2023 10:00 pm

  Crude oil retreats as fears dimming China demand hopes

  

  Brent crude oil retreated about than 1% in a volatile session on Tuesday as persistent concerns about global economic growth outweighed supply curbs and prompted investors to take profits on the previous day’s gains.The focus in the wider financial market is firmly on the release on Wednesday of the minutes …

  Read More »
• 21 February 2023 8:48 pm

  US Existing Home Sales decline in January

  

  Existing Home Sales in the US continued to decline in January. Meanwhile, the US Dollar Index stays in positive territory above 104.00. Existing Home Sales in the US declined by 0.7% in January to an adjusted annual rate of 4 million, the National Association of Realtors (NAR) reported on Tuesday. …

  Read More »