Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 9 February 2023 8:45 pm

  Nickel fraud bites top commodity trader with $577 million loss

  

  Trafigura suffers a $577 million loss on nickel shipments in what the company calls a systemic fraud. The commodities trading giant discovered some of the metal cargoes it bought were missing nickel. A full container of nickel, an expensive metal that is typically traded in large volumes, can be worth …

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• 9 February 2023 7:56 pm

  Dow climbs 200 points, Disney shares higher after strong earnings

  

  The Dow Jones Industrial Average gained 226 points, or 0.7%. The S&P 500 added 0.6%, while the Nasdaq Composite added 0.8% on Thursday. Disney shares gained more than 2% after the company posted smaller-than-expected subscriber losses along with earnings and revenue that beat estimates. The stock pared gains after CEO …

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• 9 February 2023 6:00 pm

  US: Weekly Initial Jobless Claims rise to 196K

  

  There were 196,000 initial jobless claims in the week ending February 4, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 183,000 and came in slightly worse than the market expectation of 190,000. The publication revealed that …

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• 9 February 2023 5:18 pm

  Gold is gaining momentum with the decline of US dollar ahead of US data

  

  Gold rose on Thursday, supported by the decline in the dollar, but prices are expected to be trapped in a limited range as traders await economic data, seeking indications about the path of the Federal Reserve to raise interest rates. And by 1029 GMT, spot gold rose 0.4 percent to …

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• 9 February 2023 3:12 pm

  Bloomberg: First Abu Dhabi may renew $35 billion offer for Standard Chartered

  

  Bloomberg News reported on Thursday that First Abu Dhabi Bank, the UAE’s largest bank, may renew a potential offer for British bank Standard Chartered once the freeze rules associated with its previous bid, which it retracted, expire. Standard Chartered shares jumped 9 percent after the report. A Standard Chartered spokesman …

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• 9 February 2023 2:09 pm

  European stocks are at the highest level in 9 months

  

  European stocks touched a nine-month high on Thursday, supported by earnings data from companies including Germany’s Siemens and Britain’s AstraZeneca, which helped ease concerns raised by Federal Reserve officials after they stressed the need for more interest rate hikes. The Stoxx 600 index of European shares rose 0.8 percent by …

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• 9 February 2023 1:12 pm

  Stability of US dollar with evaluation of statements of Fed officials

  

  On Thursday, the dollar hovered near the average prices it recorded during the last period against the major currencies, while investors evaluated the comments issued by a number of Federal Reserve officials, as well as anticipating the consumer price inflation data scheduled to be published next week. The dollar index, …

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• 9 February 2023 12:35 pm

  Japan’s Nikkei closed lower, following Wall Street

  

  Japan’s Nikkei closed lower on Thursday, retreating from its highest level in nearly two months, as the benchmark tracked the weak performance on Wall Street after investors had long been wary of higher US interest rates. The earnings season witnessed a mixture of winners and losers among the major companies. …

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• 9 February 2023 11:00 am

  Oil rose for the fourth day, supported by Chinese demand

  

  Oil rose in early trading on Thursday, extending its gains for the fourth day in a row, as crude loading disruptions in Turkey and optimism about the continued recovery of demand in China boosted sentiment. By 0239 GMT, Brent crude futures were up 14 cents, or 0.2 percent, at $85.26 …

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• 9 February 2023 4:10 am

  Market Drivers – US Session 08/02/2023

  

  The GBP/USD pair trades around 1.2070, holding on to modest intraday gains. The Euro is one of the weakest rivals of the US dollar. The shared currency is trading at 1.0716 as ECB policymakers repeated their hawkish language. ECB’s Klaas Knot said that headline inflation appears to have peaked but …

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• 9 February 2023 3:12 am

  Biden confirms US intention to compete with China, not seeking conflict

  

  US President Biden confirmed that relations with China have not taken a big hit. “We intend to compete completely with China but we are not seeking conflict, as that has been the case so far,” Biden said during a PBS interview late Wednesday.Biden’s comments join the recent statements from US …

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• 9 February 2023 2:05 am

  Yellen: Inflation elevated, but encouraging signs do exist

  

  US Treasury Secretary Janet Yellen said on Wednesday “Over the past two years, we have worked successfully to ease supply chain pressures, and that includes funding pop-up container yards and moving several ports to 24/7 operations.”“While inflation remained elevated, there were encouraging signs that supply-demand mismatches were easing in many …

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• 9 February 2023 1:12 am

  USD/CAD bulls step between dovish BoC, hawkish Fed

  

  The USD/CAD bulls are moving ahead despite Tuesday’s bearish close. The US Dollar has firmed on hawkish sentiment around the US Fed again versus seemingly dovish stance adopted by the Bank of Canada.. There is a 61.8% Fibonacci retracement level near 1.3350 below the neckline near 1.3380. However, given that …

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