Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 16 April 2024 10:38 pm

  Market Drivers; US Session, April 16

  

  The US economy is expanding rapidly, yet inflation is still there. In the meantime, the Federal Reserve conveys, via Chair Jerome Powell, conflicting messages: while the US central bank supports market-led tightening through higher rates, it is not a big fan of immediate rate cuts. Economic DataOn the data front; …

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• 16 April 2024 9:51 pm

  Fed’s Powell hints at keeping rates higher for longer

  

  The Federal Reserve Chair Jerome Powell stated on Tuesday that the US central bank is unlikely to lower interest rates at its next policy meeting, which is just two weeks away, due to the US economy’s continued strength and a “lack of progress” on inflation. Powell stated during a moderated …

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• 16 April 2024 9:42 pm

  US Stock Market Stabilizes on Big Earnings Day

  

  Tuesday is a big earnings day, with results from Bank of America and Morgan Stanley. Investors will also be watching for clues regarding the possibility of rate cuts in remarks that Federal Reserve Chair Jerome Powell is expected to make. Bond yields were little higher on Tuesday, and equities fluctuated …

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• 16 April 2024 8:41 pm

  BofA’s Q1 earnings dismal despite expected growing interest income

  

  As the latest major lender to suffer the pinch of higher for longer interest rates, Bank of America reported an 18% decline in first-quarter profit. With the exception of a one-time charge, the results exceeded expectations, mostly due to the bank’s Wall Street and wealth-management units demonstrating good performance. The …

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• 16 April 2024 7:36 pm

  USD/JPY Surges on Stronger Dollar, Higher Treasury Yields

  

  USD/JPY has gained following the stronger than expected US retail data and neutral to hawkish comments by US Federal Reserve officials. The Dollar trades at 154.61, 0.22% above its opening price. US housing indicators, such as Building Permits and Housing Starts, have underperformed, suggesting a construction sector slowdown. However, US …

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• 16 April 2024 4:03 pm

  Bitcoin is retreating just days before the highly anticipated Halving event

  

  Bitcoin (BTC) is grappling with the fallout from escalating tensions between Iran and Israel, which have cast a shadow over risk assets this week. The world’s largest cryptocurrency experienced a 3.4% decline against the US dollar on Monday, closing at $63,318, marking its lowest closing price in nearly a month. …

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• 16 April 2024 2:40 pm

  The STOXX 600 is approaching a 6-week low amid geopolitical tensions

  

  European stock indices dipped to their lowest levels in nearly six weeks on Tuesday as traders veered away from high-risk assets amidst escalating geopolitical tensions in the Middle East. Meanwhile, Ericsson shares soared to the pinnacle of the main index following encouraging business results. As of 0718 GMT, the European …

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• 16 April 2024 1:33 pm

  Euro Zone’s February Trade Surplus Spikes Compared to Previous Year

  

  In February, the eurozone witnessed a notable surge in its trade surplus compared to the previous year, largely due to a significant decline in imports, particularly in energy and raw materials, according to data from the European Union’s statistics office Eurostat released on Tuesday. Eurostat reported that the unadjusted external …

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• 16 April 2024 12:46 pm

  UK Wage Growth Eases as Bank of England Contemplates Rate Cuts

  

  British core wage growth decelerated once again, marking its slowest increase since the three months leading up to September 2022, yet it maintained strength relative to historical norms, as per official data likely to receive a cautious nod from the Bank of England. Official figures from the Office for National …

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• 16 April 2024 12:04 pm

  Dollar Ascends to Five-Month Peak

  

  The dollar surged to a five-month peak against major currencies on Tuesday, driven by stronger-than-anticipated U.S. retail sales figures, igniting concerns over potential intervention from Tokyo as the yen dwindled to its lowest level since 1990. Despite China’s first-quarter GDP data surpassing expectations, the Chinese yuan slightly declined, reflecting ongoing …

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• 16 April 2024 11:35 am

  Oil prices rise on China growth, Middle East tensions

  

  Oil prices experienced a rise on Tuesday, buoyed by stronger-than-expected economic growth in China and escalating tensions in the Middle East following Iran’s recent missile and drone attack on Israel. Brent futures for June delivery advanced by 20 cents, or 0.2%, reaching $90.30 a barrel, while U.S. crude futures for …

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• 16 April 2024 10:45 am

  Asian stocks tumble on US rate jitters, China GDP helps soothe losses

  

  Asian stocks experienced significant declines on Tuesday, mirroring the sell-off on Wall Street amid ongoing concerns about geopolitical tensions in the Middle East and the prospect of prolonged higher interest rates in the United States. Despite the general downturn, Chinese equities fared relatively better following the release of GDP data …

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• 16 April 2024 3:18 am

  Market Drivers; US Session, April 15

  

  Amidst rising Treasury yields, the US dollar’s upward momentum persisted, pushing it to new annual highs around 106.20. This week seems to be dominated by escalating geopolitical concerns, especially in the Middle East. Indicated by the USD Index (DXY), the US dollar held its bullish tilt and surged to new …

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