Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 10 April 2024 5:18 pm

  US CPI inflation rises in March above expectations

  

  According to the US Bureau of Labour Statistics (BLS) report released on Wednesday, the annual rate of inflation in the US increased to 3.5% in March from 3.2% in February, as shown by changes in the Consumer Price Index. This result above the 3.4% market expectation. The US Dollar gathered …

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• 10 April 2024 10:44 am

  Oil prices stabilize amid Middle East tensions and rising US inventories

  

  Amidst mounting tensions in the Middle East and an unexpected surge in US crude oil inventories, oil prices held steady in early trading on Wednesday. Brent crude futures settled at $89.42 per barrel, while US West Texas Intermediate crude futures saw a marginal increase of two cents to $85.25. The …

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• 10 April 2024 6:19 am

  RBNZ keeps interest rate unchanged as expected

  

  The board members of the Reserve Bank of New Zealand (RBNZ) opted to keep the Official Cash Rate (OCR) at 5.50% on Wednesday after the end of the April policy meeting. The choice was consistent with what the market anticipated. The New Zealand Dollar catches a fresh momentum in an …

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• 10 April 2024 5:12 am

  March CPI reading will be key for rate cut forecast

  

  Following two strong reports in January and February, it is expected that the consumer price index report for March will demonstrate a sustained slowdown in inflation. The core CPI is expected to increase by 3.4% year over year, according to consensus estimates. This would be somewhat less than the 3.8% …

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• 10 April 2024 3:52 am

  RBNZ expected to keep rate unchanged

  

  After its monetary policy meeting on Wednesday, the Reserve Bank of New Zealand is anticipated to keep the Official Cash Rate (OCR) at 5.50% for the sixth consecutive meeting. Notwithstanding the fact that Governor Adrian Orr’s news conference was not held and that revised economic estimates were released, the New …

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• 10 April 2024 12:52 am

  Bank of Japan intends to maintain the current monetary easing

  

  BoJ Governor Kazuo Ueda stated in his semi-annual report on currency and monetary supervision issued on Wednesday that, given the current conditions of economic activity and prices, he expects the current accommodative conditions to be maintained.In his estimation, Ueda believes that the 2 percent price stability target will be achieved …

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• 9 April 2024 3:09 am

  Market Driers; US Session, April 8

  

  The US dollar was under pressure throughout the week’s bearish start, but the risk complex was able to gather itself and US rates moved marginally higher across the curve. Ahead of the crucial US CPI, FOMC Minutes, and ECB event, traders continued to evaluate the most recent payroll prints. Amidst …

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• 9 April 2024 2:26 am

  Fuel Prices Trigger US Consumers’ Concerns

  

  FuelBuddy released its most recent statistics on Monday, which show that fuel costs are skyrocketing in most states and towns. In Louisville, for example, the average cost of a gallon of petrol increased by 27.5 cents over the previous week to $3.51, based on a survey covering 644 petrol stations. …

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• 9 April 2024 1:17 am

  US Stocks Close Flat Ahead of CPI Data

  

  At the end of a turbulent North American session on Monday, US equities remained mostly steady as a solar eclipse provided some diversion ahead of the key CPI inflation data and the start of the first-quarter earnings season. The Nasdaq opened a new tab and finished marginally up, while the …

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• 8 April 2024 10:45 pm

  Oil retreats amid fresh international calls for Middle East truce

  

  US West Texas Intermediate crude closed down 48 cents, or 0.6%, at $86.43, while Brent crude futures down 79 cents, or 0.9%, to settle at $90.38 a barrel. For Brent, it was the first drop in five sessions, and for WTI, it was the first in seven. A Hamas spokesman …

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• 8 April 2024 10:27 pm

  Gold Rallies Ahead of CPI Data

  

  Gold is up 0.50%, trading at $2341.29 per ounce at the time of writing. Earlier on Monday, gold’s jump to $2,354 has been tempered by evolving Fed rate cut expectations and a resilient US jobs report. Potential further upside for Gold is expected with forecasts reaching up to $2,500 in …

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• 8 April 2024 9:48 pm

  Positive Market Sentiment Pushes CAD to Minor Gains

  

  The Canadian Dollar has seen minor gains on Monday, extending its rebound from year-to-date lows after Friday’s upbeat Ivey PMI. This is due to a modest appetite for risk on a calm weekly opening, which allows some US Dollar pullback ahead of key macroeconomic data this week. The US economy …

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• 8 April 2024 8:42 pm

  US Dollar Retreats Ahead of CPI Data

  

  The US Dollar Index is currently trading at 104.15 with mild losses, as traders await the March CPI report on Wednesday. The Fed’s cautious stance is calibrated in light of incoming data, with hot labor market figures reported last week potentially justifying the delay of the easing cycle. The US …

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