Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 4 April 2024 1:41 pm

  Turkey’s trade deficit narrowed to $7.52 billion in March

  

  On Thursday, the Turkish Trade Ministry announced that the country’s trade deficit had narrowed by 10.3 percent year-on-year to $7.52 billion in March. The ministry further stated that the ongoing trend of increasing exports and decreasing imports is anticipated to persist throughout the year. According to the ministry’s statement, exports …

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• 4 April 2024 12:39 pm

  Nikkei closed higher after the end of a profit-taking wave

  

  On Thursday, the Nikkei index closed higher as investors seized the opportunity to buy stocks following a recent bout of profit-taking amidst the start of the new fiscal year. The Nikkei advanced by 0.81 percent at the close, reaching 39,773.14 points, after peaking during the session with a gain of …

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• 4 April 2024 11:28 am

  Dollar is Breathing Ahead of the Jobs Data

  

  On Thursday, the dollar steadied below recent highs as traders awaited US jobs data, finding reassurance in Federal Reserve Chairman Jerome Powell’s remarks suggesting potential interest rate cuts later in the year. The yen remained range-bound amid prospects of government intervention, showing little movement from the 151.56 level it has …

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• 4 April 2024 10:52 am

  Gold continues to soar to unprecedented levels

  

  Gold prices rose to a record level on Thursday, amid Federal Reserve officials confirming their expectations to cut interest rates in 2024, in addition to anticipating job data in the United States. Gold settled in spot transactions at $2,299.28 per ounce by 0343 GMT, after rising to an unprecedented level …

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• 4 April 2024 10:40 am

  Oil prices rise amid fears of supply shortages

  

  Oil prices rose in early Asian trading on Thursday amid concerns about supply shortages as major producers continue production cuts, coupled with signs of economic growth in the United States, the world’s largest oil consumer. Brent crude futures for June climbed 15 cents, or 0.2 percent, to $89.51 per barrel …

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• 4 April 2024 4:35 am

  Market Drivers; US Session, April 3

  

  Mixed US data, further selling pressure, risk appetite and renewed remarks by Fed officials on rate cut are the main factors that have dragged the US dollar lower and put the USD Index (DXY) on track to challenge the 104.00 support after weaker-than-expected data. Further disinflationary pressures in the Eurozone …

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• 4 April 2024 4:01 am

  US stocks edge higher after renewed remarks on rate cuts

  

  As Fed Chair Jerome Powell reaffirmed that the Fed will probably lower interest rates this year due to inflation’s “bumpy” downward trajectory, US markets saw minimal movement on Wednesday.While the Dow Jones Industrial Average decreased by around the same amount, the S&P 500 increased by roughly 0.1%. The major indices …

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• 4 April 2024 2:48 am

  Gold Rallies Following Mixed US Data, Declining T-yields

  

  The weaker US dollar and falling US Treasury yields have kept gold prices anchored around $2,300. Fed Chair Powell’s suggestion that rates might be lowered this year, if inflation keeps falling, helped the XAU/USD Index rise. US Data Lifts Gold Price Precious metals are rising even if ADP data shows …

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• 4 April 2024 12:00 am

  Tesla’s Deliveries Raise Fresh Questions About Demand, Earnings

  

  Tesla’s lower-than-expected Q1 vehicle deliveries led most analysts to lower their estimates for the electric carmaker’s full-year earnings. After a brief decline, the stock price somewhat increased by Wednesday’s closing.Unmet Goals and Business Obstacles Tesla exceeded even the most bullish expert estimates in Q1 by delivering 386,810 cars. This was …

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• 3 April 2024 11:00 pm

  Oil Prices climb as OPEC Maintains Production Cuts

  

  The price of oil kept rising, hitting a five-month high of around $90 per barrel. WTI and Brent crude are both up 0.24%. As of this writing, Brent crude is trading at $89.085 per barrel, while US crude is trading at $85.053 per barrel, up. This rise comes after OPEC …

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• 3 April 2024 10:06 pm

  Canadian dollar bounces up as soft US data hurts the US dollar

  

  On Wednesday, the US Dollar and US rates dropped, while the Canadian dollar recovered some of the ground it had lost due to weak US services activity data. As a result of negative US data, the US dollar declines while the Canadian dollar rises. Contrary to forecasts, US service sector …

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• 3 April 2024 9:10 pm

  EUR/USD jumps to weekly highs on weak US data

  

  On Wednesday, the US dollar declines across the board versus rivals, while the euro rises. The US ISM Services PMI’s unexpected dip has allayed worries that the Fed may become more hawkish. The Eurozone CPI earlier on Wednesday showed less forceful price pressures in March than anticipated. During the US …

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• 3 April 2024 6:54 pm

  USD/CHF retreats following dismal US Services PMI

  

  The USD/CHF pair is facing selling pressure near 0.9100 due to weak ISM Services PMI data from the United States Institute of Supply Management (ISM). The Services PMI, which represents the service sector, fell to 51.4 from expectations of 52.7 and the prior reading of 52.6. The US Dollar has …

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