Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 17 February 2023 5:38 pm

  US Assistant Secretary of the Treasury: Russia’s reduction in crude production indicates its inability to sell oil

  

  Ben Harris, US Assistant Secretary of the Treasury, said Thursday, February 16, that Russia’s decision to reduce crude oil production by 500,000 barrels per day reflects its inability to sell all of its oil, as Russian Deputy Prime Minister Alexander Novak announced last week that Moscow will voluntarily reduce production …

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• 17 February 2023 4:29 pm

  Gold is heading for a third weekly decline

  

  Gold prices fell on Friday, on track for a third consecutive week of declines, as investors worried about the possibility of the Federal Reserve raising interest rates after a series of strong economic data. Spot gold fell 0.6 percent at $1,827.09 an ounce, after earlier falling to its lowest since …

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• 17 February 2023 3:06 pm

  Goldman Sachs now expects three more Fed rate hikes in 2023

  

  Goldman Sachs said it now expects the Federal Reserve to raise interest rates 3 times this year, by a quarter of a percentage point each time, after data this week indicated rising inflation and a strong labor market. A report on Thursday showed that producer prices in January accelerated by …

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• 17 February 2023 2:55 pm

  Chinese Lenovo records the largest decline in revenue in 14 years in the third quarter

  

  China’s Lenovo Group reported a 24 percent decline in revenue in the third quarter, the largest in 14 years, as global demand for electronics shrank and the company said it would cut spending and reshuffle the workforce. The company, the world’s largest maker of personal computers, reported on Friday that …

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• 17 February 2023 2:54 pm

  Ukraine: talks to extend the grain corridor begin within a week

  

  Ukraine’s Deputy Infrastructure Minister Yury Vaskov said on Friday that negotiations to extend the grain export corridor agreement across the Black Sea will start within a week. The Black Sea Grain Initiative, brokered in July by the United Nations and Turkey, allowed grain to be exported from three Ukrainian ports …

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• 17 February 2023 2:11 pm

  European stocks open lower as interest rate hike fears return

  

  European stocks opened nearly 1 percent lower on Friday, with interest rate-sensitive technology stocks negatively affected by expectations the Federal Reserve will continue tightening monetary policy, while Mercedes-Benz and Sica rose thanks to a strong earnings announcement. The pan-European Stoxx 600 index was down 0.9% by 0813 GMT, with technology …

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• 17 February 2023 9:56 am

  US dollar is rising with Treasury yields

  

  The dollar rose as US Treasury yields rose on Friday, heading for a third week of gains, as a wave of strong economic data in the United States increased market expectations that a new interest rate hike is on the horizon. Thursday’s data showed an unexpected drop in the number …

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• 17 February 2023 9:54 am

  Oil is falling while interest rate concerns cast a shadow over the demand outlook

  

  Oil prices fell on Friday, heading for weekly losses, as strong US economic data raised concerns about the Federal Reserve continuing its monetary tightening policy to curb inflation, which could affect fuel demand even as crude inventories grow. By 0105 GMT, Brent crude futures fell 49 cents, or 0.6 percent, …

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• 17 February 2023 4:37 am

  Market Driver – US Session 16/02/2023

  

  US stocks came under intense selling pressure, although Wall Street trimmed most of its intraday losses ahead of the close. US government bond yields, on the other hand, advanced, with the 10-year note now offering 3.83% and the 2-year note paying 4.61%. AUD/USD battles to regain the 0.6900 threshold after …

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• 17 February 2023 4:25 am

  Fed’s Mester: A recession could happen as rates rise

  

  Cleveland Fed President Loretta Mester said as the Federal Reserve’s higher interest rates slow the economy, a recession may result, though it’s not part of her baseline forecast and is not what the central bank wants.US Dollar Index prints mild gains around 104.15 as bulls flirt with the six-week high …

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• 17 February 2023 4:06 am

  US official: Russia’s crude output cut signals unsold oil

  

  The decision by Russia to cut crude oil output by 500,000 barrels per day reflects its inability to sell all of its oil according to Ben Harris, US Treasury Department Assistant Secretary. Russia’s Deputy Prime Minister Alexander Novak last week said it would voluntarily cut output beginning next month following …

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• 17 February 2023 2:39 am

  How Can Traders Interpret Remarks By ECB’s Fabio Panetta?

  

  Several calls, such as the one made by ECB board member Fabio Panetta to convert to smaller rate increases, have been made as a result of the lower-than-expected energy costs in Europe this winter.The ECB’s board member appointed by Italy, Panetta, urged caution, claiming that the economy had not yet …

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• 17 February 2023 12:59 am

  US stocks decline as price, jobs data fuel rate hike concerns

  

  Wall Street fell on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the Federal Reserve will keep raising interest rates to tame high prices. Decline in jobless claims, showed the economy is holding up amid the Federal Reserve’s rate hikes. The …

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