Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2023

• 4 January 2023 11:10 pm

  Could FOMC minutes signal rate hiking endgame?

  

  All the Fed’s policymakers during December 13-14 policy meeting agreed the US central bank should slow the pace of its hawkish interest rate hikes. This was meant to allow policymakers the opportunity to continue increasing the cost of credit with the aim to control inflation but in a gradual manner …

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• 4 January 2023 11:04 pm

  FOMC Minutes: Fed’s policymakers uncomfortable with inflation levels

  

  The Federal Open Market Committee released the Minutes of the December 14-15 Meeting, spurring little action across the major assets. The US Dollar was little changed with the news, although US short-term interest-rate futures dropped. Key Quotes Most participants welcomed inflation easing in October and November but agreed it would …

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• 4 January 2023 10:16 pm

  Ahead of FOMC minutes, EUR/USD advances on mixed US data

  

  The Euro is retracing against the US dollar after hitting daily highs of 1.0635 and is dropping after the release of mixed US economic data, slightly boosted the US Dollar and shifting sentiment sour. At the time of writing, the EUR/USD is trading at 1.0610, above its opening price by …

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• 4 January 2023 9:12 pm

  Ahead of FOMC minutes, gold climbs above $1,850 on improved sentiment

  

  Gold prices are receiving a push forward by the significantly positive market sentiment keeping the US Dollar offered.Investors cheered China’s planning to support the property market and the relaxation of its Covid zero-tolerance policy. A busy US economic docket keeps traders worried about the performance of the US Dollar while …

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• 4 January 2023 8:55 pm

  Fed’s Kashkari explains why he calls for higher rates

  

  On Wednesday, Fed’s Neel Kashkari said he was wrong to have thought that inflation would prove “transitory” last year, and called for more rate hikes, suggesting that this will be appropriate in 2023 to continue bringing down price pressures. “While I believe it is too soon to definitively declare that …

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• 4 January 2023 7:50 pm

  JOLTS Job Openings little changed at 10.45 million in November

  

  Job openings in the US marginally declined in November. The US Dollar Index stages a rebound in the American session and was last at 104.35, where it was still down 0.3% on the day. The data published by the US Bureau of Labour Statistics, on Wednesday, indicated that the number …

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• 4 January 2023 7:03 pm

  US: ISM Manufacturing PMI declines to 48.4 in December vs. 48.5 expected

  

  Business activity in the US manufacturing sector contracted for the second straight month in December with ISM’s Manufacturing PMI declining to 48.4 from 49 in November. This reading came in slightly below the market expectation of 48.5.The US Dollar Index edged higher in an initial reaction and was last seen …

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• 4 January 2023 6:03 pm

  USD is falling as inflation slows in Europe

  

  The dollar fell on Wednesday against commodity-linked currencies such as the Australian dollar and against the euro, which was supported by a batch of data indicating that European inflation may have run its course. The dollar was already under pressure from investors who were increasingly optimistic that China’s easing of …

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• 4 January 2023 4:37 pm

  Euro stabilizes and hopes of lifting Covid restrictions in China boost sentiment ahead of Fed minutes

  

  The euro stabilized on Wednesday, January 4, and high-risk currencies recovered thanks to optimism that China’s lifting of Covid restrictions would boost growth, while investors’ focus shifted to US data and the Federal Reserve. The euro had lost 1% overnight, its biggest drop in more than two months after a …

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• 4 January 2023 2:12 pm

  European shares rose for the third session as inflation slowed in France

  

  European stocks extended their rally on Wednesday after a lower inflation reading in France boosted sentiment as investors await data on business activity in the eurozone and minutes from the Federal Reserve’s last meeting. The Stoxx 600 index of European shares rose 0.5 percent by 0808 GMT, while the French …

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• 4 January 2023 1:20 pm

  Nikkei trailed Wall Street lower and closed at a 10-month low

  

  The Nikkei index of Japanese stocks closed at its lowest level in nearly ten months in the first trading sessions in 2023, tracking the impact of Wall Street’s decline last night, while sentiment was also affected by the rise of the yen against the dollar. The Nikkei index fell 1.45 …

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• 4 January 2023 5:06 am

  Market Drivers – US Session 03/01/2023

  

  On Tuesday, the US dollar soared against all of its major rival currencies. The dollar started the day on the back foot, but secured robust gains early during the European session, triggering stops and further accelerating its advance. Key Developments EU countries reached an agreement on a coordinated approach to …

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• 4 January 2023 4:39 am

  GBP/USD trades cautiously ahead of US Manufacturing data

  

  The Dollar Index climbed to near two-week high around 104.65 after a solid recovery from 103.00. The GBP/USD pair has shifted its performance below the psychological support of 1.2000 in the early Asian session. The pair failed in taking control above the 1.2000 mark amid risk aversion. A significant drop …

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