Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 26 April 2024 9:29 pm

  Fresh inflation data, tech earnings trigger gains in US stocks

  

  US stocks are advancing on Friday as investors digest the most recent inflation data, the PCE Index readings, amid the favourable earnings announcements from Microsoft and Alphabet. In March, the preferred inflation measure of the Federal Reserve rose 2.7% from the previous year, as anticipated. The IT sector’s outstanding earnings …

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• 26 April 2024 8:51 pm

  GBP/USD impacted by US inflation data, anticipated delay of Fed’s rate cut

  

  The GBP/USD pair is currently focused on support levels due to its recent inability to break above the 200-day moving average at 1.2557, which emphasises its negative bias. If the ‘black cloud cover’ candlestick pattern materializes, there could be potential for more losses, with 1.2400 being the objective and perhaps …

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• 26 April 2024 7:53 pm

  What will investors watch closely next trading week?

  

  The anticipation of interest rate cut or cuts by the Federal Reserve and data releases dominated the conversation for another week, during which the US dollar fluctuated. In light of this, the USD Index (DXY) appears to have started a slow downturn after reaching fresh annual highs earlier in the …

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• 26 April 2024 4:36 pm

  Microsoft reports revenues of more than $61 billion

  

  Yesterday, Microsoft Corporation unveiled its third-quarter financial results, surpassing analysts’ forecasts fueled by robust corporate demand for its cloud and artificial intelligence services. The tech giant reported earnings per share of approximately $2.94, exceeding the anticipated $2.82 per share. Similarly, Microsoft’s revenue climbed to $61.86 billion, surpassing expectations of around …

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• 26 April 2024 1:32 pm

  European stocks rise on strong results from major technology companies

  

  European stocks rallied on Friday, poised to conclude the week with gains, buoyed by robust earnings from major US technology firms, while ThyssenKrupp shares surged to their highest daily performance in 18 months. The European STOXX 600 index kicked off the session with a 0.5 percent uptick by 0717 GMT. …

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• 26 April 2024 12:20 pm

  Yen is at a 34-year low as the Bank of Japan keeps interest rates unchanged

  

  The yen plummeted to its lowest level against the dollar in three decades on Friday following the Bank of Japan’s decision to maintain interest rates, heightening expectations among traders for potential intervention by Tokyo authorities to stabilize the currency. After the Bank of Japan announced its decision to keep short-term …

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• 26 April 2024 11:10 am

  Oil prices are heading to end a two-week losing streak

  

  Oil prices rose on Friday, poised to conclude the week with gains after two consecutive weeks of losses, following optimistic remarks from US Treasury Secretary Janet Yellen regarding economic growth. Meanwhile, concerns over supply persisted amid the ongoing conflict in the Middle East. As of 0347 GMT, Brent crude futures …

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• 26 April 2024 10:20 am

  Gold is on track to record its first weekly loss in 6 weeks

  

  Gold prices saw little change on Friday ahead of a crucial inflation report in the United States but were set to mark their first weekly decline in six weeks amid easing concerns of escalating conflict in the Middle East. Spot gold rose 0.1 percent to $2,334.57 per ounce by 0409 …

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• 26 April 2024 3:13 am

  Market Drivers; US Session, April 25

  

  Before Friday’s release of PCE data, the USD Index (DXY) had already fallen to multi-day lows due to depressing GDP readings and higher inflation prints. This continued downward bias harmed the US Dollar. With rising yields and a prevailing appetite for risk, the USD Index (DXY) returned to the mid-105.00s. …

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• 26 April 2024 1:41 am

  Will Eurozone’s Prices Impose Bumpy Road Ahead for ECB?

  

  The Eurozone’s recovery from the recent downturn is largely due to the growth of the service sector, which has seen job creation accelerate. However, the region faces challenges in meeting the European Central Bank’s 2% target due to persistently high service prices driven by wages. The EU’s decision to stop …

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• 25 April 2024 11:13 pm

  Dow Jones stumbles amid still hot inflation

  

  The Dow Jones fell over 500 points on Thursday due to inflation complications and missed US GDP figures. The slowing growth is a positive for investors seeking an accelerated path towards rate cuts from the Federal Reserve, but sticky inflation continues to vex hopes for an early Fed rate trim. …

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• 25 April 2024 10:19 pm

  What to Expect from Looming PCE Report?

  

  March is likely to see the Fed’s Personal Consumption Expenditures (PCE) index stay stubbornly high, since inflation has exceeded forecasts in every month this year but one. This further complicates forecasting. Fed officials have stated that before the central bank lowers interest rates, they need further assurance that inflation is …

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• 25 April 2024 9:54 pm

  Treasury yields rise after inflation data

  

  US Treasury yields continued to rise since the beginning of daily trading on Thursday, with a boost from inflation readings that highlighted the continued rise in consumer prices in the United States.The reading of the Personal Consumption Expenditures Price Index (QoQ)(Q1), which is one of the links in a series …

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