Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2023

• 1 February 2023 10:48 am

  Dollar is holding its breath

  

  The dollar settled largely against other major currencies on Wednesday, after falling in the previous session following US data that indicated a lull in wage pressures, while investors awaited the conclusion of the Federal Reserve’s policy meeting. The US central bank is expected to raise interest rates by 25 basis …

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• 1 February 2023 6:46 am

  US: Private sector employment rises by 106K in January

  

  The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 106,000 in January. This reading followed December’s growth of 253,000 (revised from 235,000) and missed the market expectation for an increase of 178,000 by a wide margin.

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• 1 February 2023 2:22 am

  Market Drivers – US Session 31/01/2023

  

  The US dollar surged throughout the first half of the day helped by risk-off. Asian stocks spent the day with negative performance. European stocks trimmed their losses ahead of the close, but gains  were recorded to strong January on Wall Street. Economic Data The market’s sentiment improved following the release …

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• 1 February 2023 2:09 am

  What Do Markets Expect From First FOMC Decision in 2023?

  

  After seven consecutive increases in 2022, traders and investors expect the Fed to raise rates by 25 basis points on Wednesday, with increases of 50 basis points by the European Central Bank and the Bank of England on Thursday.If markets are expecting a 25 basis point hike and eventually a …

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January, 2023

• 31 January 2023 11:57 pm

  Oil steadies on higher US demand, weaker dollar

  

  Oil prices closed steadily on Tuesday after recovering from a near three-week low, attracting support from the intraday weaker US dollar and on data showing that US demand for crude and petroleum products rose in November.The more active second-month Brent contract settled at $85.51 per barrel, up $1.09 or 1.29%, …

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• 31 January 2023 10:51 pm

  EUR/USD at crossroads ahead of key economic events

  

  The EUR/USD pair is getting prepared for reaction to the key economic events this week, including rate decision by the Fed and ECB as well as Friday’s NFP data.EUR/USD is, therefore, seen at a crossroads trading at 1.0873 at the time of writing slightly up on the day by .015% …

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• 31 January 2023 10:04 pm

  Is ECI data good new for the FOMC?

  

  The Employment Cost Index report released on Tuesday had an unusual impact across almost all financial markets, particularly the US dollar that weakened following the index reading.Analysts pointed out that the reading is one more inflation-linked indicator that is seen as easing. While the report supports inflation moving back toward …

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• 31 January 2023 8:53 pm

  Wall Street Celebrates Strong January With Gains

  

  US Stocks are edging higher on Tuesday ahead of what many investors hope will be one of the Fed’s last rate hikes to interest rates as well as anticipated pause of quantitative tightening.The Standard & Poor’s 500 was 0.3% higher as of 9:36 a.m. Eastern and on pace to close …

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• 31 January 2023 7:55 pm

  GBP/USD falls below 1.2300 following US data

  

  The Sterling continued to weaken versus the US dollar ahead of the Fed’s interest rate decision. US inflation continues to impact the pair as the Employment Cost Index drops. The International Monetary Fund expects the UK economy to hit a recession in 2023. The Sterling has extended its losses for …

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• 31 January 2023 6:56 pm

  ExxonMobil flat after confirming record profit

  

  ExxonMobil stock dipped before recovering in premarket trading on Tuesday, after confirming expectations of one of corporate America’s biggest ever annual profits. The oil and gas group said it made $12.8 billion in the final quarter of the year, bringing total profit for 2022 to $55.7B. Reported earnings per share at $3.09 …

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• 31 January 2023 4:07 pm

  Turkey’s trade deficit jumps 137% in 2022 to $109.54 billion

  

  Official data showed on Tuesday that Turkey’s foreign trade deficit rose 137 percent year-on-year to $109.54 billion in 2022, according to the general trade system. The deficit increased in December by 42 percent from the previous year. According to data from the Turkish Statistical Institute, exports rose in 2022 by …

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• 31 January 2023 4:01 pm

  Bank of England preview

  

  Over the past year, the Bank of England (BoE) has increased its interest rate from almost zero to 3.5%, adopting a more aggressive escalation policy during the second semester as the inflation rate soared to double digits for the first time in nearly fifty years. The Fed signalled a slowdown …

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• 31 January 2023 2:37 pm

  Dollar rises before the US central meeting, but is heading to record the fourth monthly loss

  

  The dollar rose on Tuesday, ahead of an expected series of central bank decisions, but remained on track for its fourth straight monthly loss. The Federal Reserve is set to set interest rates on Wednesday and this will be followed by interest rates from the European Central Bank and the …

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