Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 30 April 2024 9:04 pm

  US dollar benefits from US employment data

  

  The US dollar continues to rise since the beginning of daily trading on Tuesday amid speculations concerning the looming Federal Reserve’s decision on the US interest rate as well as the recent US employment data in a trading week that is busy with key economic events.The US currency benefited from …

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• 30 April 2024 8:00 pm

  Canadian dollar declines on higher risk-off worries

  

  The Canadian GDP print came below forecast, further weakening the Canadian currency. US wage growth picks up speed once more, dash hopes for rate cuts. Tuesday saw a weakening of the Canadian currency relative to the US dollar following a risk-off surge in the US market session that followed above-average …

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• 30 April 2024 7:19 pm

  GBP/USD Retreats Ahead of FOMC Decision

  

  The GBP/USD pair declines 0.36% from its daily peak, under pressure from indications of rising US inflation. The pair struggles above the 200-day moving average at 1.2564, hinting at potential further declines.Support levels are seen at: November 14, 2023, high of 1.2506; breaching this could lead to further support tests …

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• 30 April 2024 3:43 pm

  German economy avoids recession in Q1

  

  Preliminary data from the Federal Statistical Office released on Tuesday indicated that the German economy narrowly avoided a recession at the outset of this year, experiencing slight but better-than-expected growth, propelled by exports and investments in the construction sector. In the first quarter, the economy saw a modest expansion, with …

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• 30 April 2024 2:17 pm

  In April, Inflation in the Euro Zone Reached a Stable Point

  

  In April, the inflation rate in the euro zone remained stable in line with analysts’ expectations, while the core inflation rate showed a slight slowdown. Data released today, Tuesday, April 30, revealed that the consumer price index in the euro zone increased by approximately 2.4% this month, matching both analysts’ …

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• 30 April 2024 1:50 pm

  Gold declines with the rise of dollar and anticipation of Fed meeting

  

  Gold is on track for its third consecutive month of gains despite experiencing a price decline on Tuesday. This was driven by a strengthening dollar ahead of the Federal Reserve’s monetary policy meeting. Spot gold fell by 0.6 percent to $2,320.54 per ounce by 06:32 GMT, while US gold futures …

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• 30 April 2024 1:46 pm

  Yen declines after reports of interference by Japanese authorities, focus turns to Fed

  

  On Tuesday, the yen retraced some of its substantial gains from Monday, attributed to potential intervention by Japanese authorities. The Japanese currency declined by 0.40 percent to 157.00 against the dollar, moving away from its 34-year low of 160.245 recorded on Monday. Traders speculated that Tokyo intervened by purchasing yen, …

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• 30 April 2024 12:50 pm

  Japan’s Nikkei closes higher

  

  On Tuesday, the Japanese Nikkei index surged, mirroring the strong performance of Wall Street the previous night. Investors eagerly awaited the outcome of the Federal Reserve meeting, seeking insights that could impact the Japanese currency exchange rate. The Nikkei climbed by 1.24 percent to close at 38,405.66 points. However, the …

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• 30 April 2024 12:24 pm

  The performance of European indices varied ahead of inflation data

  

  European indices displayed mixed performance at the outset of trading on Tuesday, April 30, as investors kept a close watch on the earnings reports of European companies and banks, while also anticipating the upcoming US Federal Reserve meeting. In trading, the STOXX600 index edged down by less than 0.1% to …

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• 30 April 2024 11:18 am

  Oil declines as investors await truce talks in Gaza war

  

  Oil prices experienced a decline in early trading on Tuesday as ceasefire discussions between Israel and Hamas in Cairo provided a sense of relief, easing concerns about the escalation of conflict in the Middle East. However, apprehensions regarding the outlook for US interest rates weighed on the market sentiment. By …

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• 30 April 2024 2:25 am

  Market Drivers; US Session, April 30

  

  The US dollar started the week on the back foot in a week where interest rate cut bets by the Fed would be in the focus of interest amidst the FOMC event and the release of Non-farm Payrolls data for April.The US dollar lost Friday’s gains due to the yen’s …

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• 30 April 2024 1:14 am

  ECB’s de Guindos: not pre-committed to a particular rate path

  

  At a Euro 50 Group meeting on Monday, European Central Bank (ECB) Vice-President Luis de Guindos highlighted the ECB’s progress on inflation, but pulled back from making any clear projections on the pace of rate cuts.Key QuotesExpects consumer spending to strengthen.Economic activity is improving, albeit gradually.Not pre-committing to a particular …

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• 30 April 2024 12:09 am

  US Stocks Climb Ahead of FOMC Meeting

  

  US stocks rose on Monday, extending last week’s rally into a week that is remarkably busy with corporate earnings, employment data, and a Federal Reserve policy meeting. The Dow Jones Industrial Average and Nasdaq Composite each gained 0.4%, while the S&P 500 rose 0.3%. Tesla (TSLA) shares soared after Elon …

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