Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 25 April 2024 9:23 pm

  US dollar records mild gains following GDP, jobs data

  

  The US Q1 GDP shows a slower growth rate of 1.6% YoY. Positively, there is a solid weekly trend in jobless claims. The short-term direction of DXY will be determined by Friday’s PCE data for March. After its lengthy surge in April, the US Dollar Index (DXY) is seen trading …

  Read More »
• 25 April 2024 8:09 pm

  Gold price steadies as GDP data influences interest rate outlook

  

  Gold price has maintained intraday gains above $2,300 amid higher US Q1 GDP inflation. Gold is trading at $2330.36 per ounce at the time of writing, with gains surpassing +0.65%.The Fed will maintain the “higher for longer” interest rates argument, and the easing of tensions in the Middle East has …

  Read More »
• 25 April 2024 6:14 pm

  US economic growth slows more than expected in Q1

  

  The US economy is expected to have maintained solid growth in the first quarter of the year, albeit at a slightly slower pace, while inflation likely picked up speed. This reinforces market expectations that the Federal Reserve will postpone interest rate cuts until September. The Commerce Department’s report on first-quarter …

  Read More »
• 25 April 2024 3:31 pm

  Gold rises before the announcement of US economic data

  

  Gold prices rose on Thursday with a decline in the dollar, while investors focused on US economic data for clues on the path the Federal Reserve (US central bank) will take regarding interest rates. Gold in spot transactions increased 0.3 percent to $2,324.10 per ounce by 0752 GMT. But US …

  Read More »
• 25 April 2024 2:11 pm

  Oil is stable as the market is affected by US demand concerns and the Middle East conflict

  

  Oil prices saw little change on Thursday amid a decline in fuel demand in the United States, the world’s largest oil consumer, coupled with concerns over a potential escalation of conflict in the Middle East. Brent crude futures edged up nine cents to $88.11 a barrel by 0420 GMT, following …

  Read More »
• 25 April 2024 1:19 pm

  European stocks decline amid mixed corporate profits

  

  European stocks fell on Thursday after mixed earnings from major companies such as Nestle and Deutsche Bank. The European STOXX 600 index fell 0.24 percent by 0745 GMT, affected by losses in the food, beverages and industrial goods sectors. Technology stocks were under pressure after disappointing revenue expectations from the …

  Read More »
• 25 April 2024 12:42 pm

  Gold falls under pressure from a profit-taking wave

  

  Gold prices experienced a decline on Thursday as investors opted to take profits following a sustained uptrend in the precious metal. Additionally, pressure from investment institutions seeking to raise liquidity contributed to the downward movement. Attention shifted towards data on the US economy to gauge indications of the Federal Reserve’s …

  Read More »
• 25 April 2024 6:54 am

  What will Spinney’s achieve from its IPO on Dubai Stock Exchange?

  

  Spinney’s in the UAE and Oman, giant retail series, is planning to obtain financing worth $375 million through an initial public offering of about 25% of its shares, per Reuters.The indicative price per share ranges from 1.42 UAE dirhams to 1.53 UAE dirhams, which may result in financing that may …

  Read More »
• 25 April 2024 6:03 am

  How does Bitcoin halving affect cryptocurrency markets?

  

  Since last halving, i. e. halving Bitcoin mining rewards, the world’s most popular cryptocurrency has been showing a great deal of strength and momentum due to the upbeat effect of this technological process that is repeated approximately every four years.The largest cryptocurrency, in terms of transaction volume, was halved on …

  Read More »
• 25 April 2024 3:14 am

  Gold Stays Firm Ahead of US GDP Data

  

  Buoyed by market demand in the safe haven metal, gold prices have embraced the task of recovering from recent losses amid a stronger US dollar and rising US Treasury yields. The market became more stable as a result of the Middle East tensions de-escalating, which also reduced demand for gold …

  Read More »
• 25 April 2024 1:09 am

  EUR/USD posts modest gains ahead of US GDP data

  

  EUR/USD posts modest gains near 1.0700, benefiting from early Thursday’s weaker US dollar. Orders for US durable goods grew 2.6% MoM in March compared to a previous gain of 0.7%; Core goods rose by 0.2% MoM, which was less than anticipated. The ECB’s dovish posture, which maintains its intention to …

  Read More »
• 25 April 2024 12:22 am

  US Stocks decline following Q1 earnings of Meta, IBM

  

  US stock futures fell on Wednesday night after Meta Platforms reported its latest quarterly results, while traders also awaited the release of key economic data later this week. Futures tied to the Dow Jones fell 76 points or 0.2%, while S&P 500 futures slid 0.6% and Nasdaq 100 futures dropped …

  Read More »
• 24 April 2024 11:03 pm

  GDP Preview: US Economy Likely Expanded at a Solid Pace

  

  The awaited GDP data from the US is predicted by the Dow Jones consensus prediction to demonstrate that the economy grew steadily in the first three months of the year, with an annualized growth rate of 2.4% for Q1. This is slightly less than the 2.5% full-year growth rate from …

  Read More »