Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 10 February 2023 5:41 pm

  Gold prices stabilize ahead of US inflation data

  

  Gold prices stabilized on Friday as market focus shifted to US inflation data due next week, which is likely to provide a clear picture of the Federal Reserve’s monetary policy path. Spot gold prices remained largely unchanged at $1,862.74 an ounce by 1209 GMT, after hitting the lowest since January …

  Read More »
• 10 February 2023 4:28 pm

  Russia to cut oil output by 500,000 bpd in March

  

  Russia will cut oil production by 500,000 barrels per day, or around 5% of output , in March, Deputy Prime Minister Alexander Novak said on Friday, after the West imposed price caps on Russian oil and oil products. The price of Brent crude rose on the news of the output …

  Read More »
• 10 February 2023 2:37 pm

  European stocks fell as concern over interest rates returned

  

  European stocks fell on Friday and were about to end a three-day winning streak as investors assessed the prospects for prolonged global monetary tightening, and a bleak outlook from German sportswear outfit Adidas weighed on sentiment. The pan-European STOXX 600 index was down 0.6% by 0815 GMT, after touching a …

  Read More »
• 10 February 2023 1:38 pm

  Heavy snow in Japan disrupts flights and trains and closes roads

  

  Japanese authorities and companies said that heavy snow in many parts of Japan on Friday caused the cancellation of 100 flights, closed dozens of roads and disrupted railway services. Domestic airlines including ANA, Japan Airlines and others canceled a total of 100 flights due to the snow until noon, according …

  Read More »
• 10 February 2023 12:18 pm

  Japanese stocks closed higher, supported by strong earnings and expectations

  

  Japanese stocks closed higher on Friday, boosted by strong corporate earnings and the expectations of domestic companies, with Tokyo Electron leading the gains after raising its annual profit forecast. The Nikkei index rose 0.31 percent to close at 27,670.98 points, after rising 0.8 percent earlier in the session. The index …

  Read More »
• 10 February 2023 11:46 am

  The British economy did not record any growth in Q4

  

  Data published by the British Office for National Statistics today, Friday, showed that the country’s gross domestic product did not witness any change in the last three months of 2022. Economists polled by Reuters had expected zero growth in the fourth quarter of the year. Last week, the Bank of …

  Read More »
• 10 February 2023 11:34 am

  Oil is falling and heading towards recording weekly gains

  

  Oil prices fell in early trading on Friday, February 10, but are heading towards recording political gains, as the market continues to oscillate between fears of a recession in the United States and hopes for a recovery in strong demand for fuel in China, the largest global importer. By 01:17 …

  Read More »
• 10 February 2023 11:07 am

  Russia expects its oil production to decrease in 2023

  

  Russian news agencies quoted Deputy Prime Minister Alexander Novak as saying on Friday that there is a possibility that the country’s oil production will decline in 2023, as a result of pressure exerted by the European Union and the ceiling set by the Group of Seven for the price of …

  Read More »
• 10 February 2023 10:41 am

  US Dollar is falling under pressure

  

  The US dollar fell against most of the other major currencies on Thursday, moving in line with falling Treasury yields, as investors stuck to their views that the Federal Reserve does not need to raise interest rates too much because inflation is starting to get under control. In evening trading, …

  Read More »
• 10 February 2023 3:18 am

  Market Drivers – US Session 09/02/2023

  

  The US dollar has been higher with gains ahead of Wall Street’s opening, advancing at the end of the trading day as US indexes plunged ahead of the close though Dow surged earlier on robust earnings including Disney and PepsiCo.The dollar benefited from higher government bond yields but also from …

  Read More »
• 10 February 2023 2:25 am

  LocalBitcoins to shut down after 10 years in cryptomarket

  

  Based upon the “ongoing very cold crypto-winter,” the Peer-to-peer Bitcoin exchange LocalBitcoins announced it will stop operation beginning Thursday. LocalBitcoins, is looked upon as one of the earliest and most popular Bitcoin exchanges. The service and business will stop after more than ten years of operation. The platform also said …

  Read More »
• 10 February 2023 1:18 am

  USD/CHF retreats as focus shifts to next week’s CPI data

  

  The USD/CHF bulls take a breather around 0.9220, after posting the biggest daily jump in one week, as traders await the key US data amid mixed interest rate-linked feelings. The Swiss Franc rallied the previous day amid the market’s rush toward the US dollar amid fears of recession. However, traders …

  Read More »
• 10 February 2023 12:50 am

  Decline of oil prices, lower natural gas costs expected by EIA

  

  The US Energy Information Administration’s February short-term energy expectations are indicating a decline of oil pricing over the next two years as well as a 50% drop in natural gas prices. In addition, the production of global liquid fuels is expected to get lower in 2023. Russia and China still …

  Read More »