Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 16 February 2023 11:54 am

  Gold regains some of its lustre with the decline of US dollar

  

  Gold prices regained some momentum on Thursday as the dollar weakened, but the prospect of the Federal Reserve raising interest rates again kept investors on edge. By 0333 GMT, spot gold rose 0.3 percent to $1,840.94 an ounce, after hitting its lowest level since early January on Wednesday. US gold …

  Read More »
• 16 February 2023 2:40 am

  Market Drivers – US Session 15/02/2023

  

  The dollar benefited from renewed concerns about the continued US Federal Reserve’s monetary tightening spurring risk aversion. As American inflation eased just modestly in January, hopes for a Fed’s pivot faded. The United States published Retail Sales on Wednesday, which surged by 3% MoM in January, much better than anticipated. …

  Read More »
• 16 February 2023 1:27 am

  USD/CHF encounters solid resistance at around 0.9260s

  

  The USD/CHF pair is neutral-downward biased from a daily chart perspective. In the short term, the USD/CHF might fall to the bottom of the range, below 0.9200.The dollar continued to strengthen versus the Swiss franc on Wednesday, bolstered by US economic data that supported speculations for further aggression by the …

  Read More »
• 16 February 2023 12:25 am

  Oil Falls After Massive Crude Inventory Build Confirmed By EIA

  

  Crude oil prices fell on Wednesday after the U.S. Energy Information Administration reported an inventory build of 16.3 million barrels for the week to February 10.This compared with a build of 2.4 million barrels for the previous week, extending a string of weekly builds, some of them quite sizeable, which …

  Read More »
• 15 February 2023 11:27 pm

  Explainer: Lael Brainard Departs Powell’s Team For A Key Role In Biden’s Team

  

  Fed Vice Chair Lael Brainard’s departure to the White House stimulated speculation over who will replace her as all policymakers weigh how much further to raise interest rates.Fed watchers wasted no time in coming up with some names of their own after Brainard’s name surfaced last month as a major …

  Read More »
• 15 February 2023 10:17 pm

  US Stocks Slide Following Strong Retail Sales Data

  

  Wall Street’s main stock indexes fell on Wednesday after stronger-than-expected retail sales data offered more evidence of resilience in the U.S. economy, fueling worries that the U.S. Federal Reserve could stick to its rate-hike campaign.Retail sales surged 3% in January, driven by purchases of motor vehicles and other goods. Economists …

  Read More »
• 15 February 2023 9:23 pm

  ECB’s Lagarde: I intend to raise rates by 50 bps in March

  

  European Central Bank President, Christine Lagarde has said that even though most measures of longer-term inflation expectations currently stand at around 2%, these measures warrant continued monitoring.She also noted that price pressures remain strong and underlying inflation is still high. She intends to lift rates by 50 basis points at …

  Read More »
• 15 February 2023 8:44 pm

  Bitcoin surpasses $24K hitting two-week high

  

  Investors liquidated about $60 million of BTC short positions over the past 24 hours, pushing the price higher Wednesday, data shows. Ether also climbed. Bitcoin price chart showed the cryptocurrency’s price jump on Wednesday. Bitcoin bolted past $24,000 for the first time in two weeks after surging more than 8% …

  Read More »
• 15 February 2023 7:43 pm

  Gold Abandons 2023 Gains On US Recession-Linked Fears

  

  Gold prices dropped to new 6-week lows on Wednesday, erasing almost the last of 2023’s previous 7.2% gains against the Dollar as the US currency rose and New York’s stock markets retreated with bond prices in the face of rising interest-rate expectations across developed-world economies. Dipping as low as $1832 …

  Read More »
• 15 February 2023 6:26 pm

  Australian Employment Preview: Forecasts by major banks

  

  Australia is set to report its January employment figures on Thursday, February 16 at 00:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers at five major banks regarding the upcoming employment data. Australia is expected to have added 20K jobs vs. …

  Read More »
• 15 February 2023 6:18 pm

  US: Retail Sales rise by 3% in January vs. 1.8% expected

  

  Retail Sales in the United States rose by 3% to $697 billion in January, the US Census Bureau reported on Wednesday. This reading followed December’s decrease of 1.1% and came in better than the market expectation for an increase of 1.8%. Retail Sales ex-Autos expanded by 2.3% in the same …

  Read More »
• 15 February 2023 5:33 pm

  Britain and European allies send military equipment to Ukraine

  

  Britain announced on Wednesday that it and other European countries will provide Ukraine with military equipment, including spare parts for tanks and ammunition for artillery. The British Ministry of Defense said Britain had agreed with the Netherlands, Norway, Sweden, Denmark, Iceland and Lithuania to send an initial support package to …

  Read More »
• 15 February 2023 5:27 pm

  US Dollar rose after US inflation data and firm statements from the Federal Reserve

  

  The dollar rose on Wednesday following data showing rising inflation in the United States and firm statements on interest rates from Federal Reserve officials. U.S. consumer price inflation accelerated month-on-month in January and rose 0.5 percent, as expected. This is due, among other things, to the high costs of rent …

  Read More »