Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 19 February 2024 9:44 pm

  US stocks slightly recover post hotter than expected inflation figures

  

  Markets are closed on Monday for the Presidents’ Day holiday. Stocks have nearly recovered after last week’s inflation report, with the S&P 500 closing down 0.4% but cracking a new record-high on Thursday. The Dow Jones Industrial Average slipped 0.1% for the week and the Nasdaq Composite fell 1.3%. The …

  Read More »
• 19 February 2024 8:52 pm

  World geopolitical tensions could impact record US stock rally

  

  The Middle East war poses a significant risk to earnings as boycotts and Red Sea shipping chaos disrupt supply chains. This could impact the record rally in US stocks, as expectations for profits at S&P 500 companies for the next 12 months are at a record high. The war could …

  Read More »
• 19 February 2024 7:52 pm

  EUR/GBP advanced in quiet trading

  

  The EUR/GBP stands at 0.8555 in Monday’s session, jumping above the 20-day SMA. Sticky European inflation may push the ECB to a more aggressive stance toward the easing cycle.The week’s highlight will be the British and the EU’s Manufacturing PMIs from February. As long as markets bet on the BoE …

  Read More »
• 19 February 2024 3:42 pm

  Bitcoin Surges Above $52,000 Mark Amidst Rapid Recovery Further Surge

  

  Bitcoin experienced a significant uptick, surpassing the $52,000 barrier after swiftly recovering from Saturday’s decline. Monday witnessed vigorous buying activity, propelling the price to its highest levels in the past five days, marking a notable resurgence to levels unseen since November 2021. Technically, Bitcoin faces minimal resistance levels until it …

  Read More »
• 19 February 2024 3:41 pm

  European Stocks Dip Amid Economic Concerns and Varied Corporate Performance

  

  On Monday, European stocks faced a downturn, with French equities particularly impacted following the government’s downward revision of its annual economic growth forecast. Meanwhile, individual company performances showcased a mix of outcomes, with Forvia’s optimistic forecasts contrasting Juventus’ widened net losses. STOXX 600 Index Edges Lower The European STOXX 600 …

  Read More »
• 19 February 2024 1:31 pm

  China’s tourism revenues during the Lunar New Year holiday exceed the pre-pandemic level

  

  Official data has revealed a remarkable surge in tourism revenues in China during the Lunar New Year holiday, which concluded on Saturday, with a staggering year-on-year increase of 47.3 percent. This surge has not only surpassed 2019 levels but also underscored the robustness of domestic tourism amid an extended holiday …

  Read More »
• 19 February 2024 1:29 pm

  Nikkei Slightly Lower but Near Record Highs Amid Chip Sector Pressure

  

  On Monday, Japan’s Nikkei average edged lower but maintained proximity to record highs, influenced by declines in chip-related stocks following losses in their US counterparts on Friday. The Nikkei index slipped by 0.04 percent, concluding the day at 38,470.38 points, after reaching 38,865.06 points on Friday. Notably, it remained a …

  Read More »
• 19 February 2024 12:09 pm

  Dollar Maintains Stability Amidst Inflation Uncertaintiesd Rate Cut Persists

  

  In the wake of last week’s economic data revealing ongoing challenges in US inflation, the dollar steadied on Monday, reflecting cautious sentiment regarding the Federal Reserve’s potential monetary easing strategies. Despite market uncertainties, the yen remained weak, hovering in proximity to the significant threshold of 150 against the dollar. US …

  Read More »
• 19 February 2024 11:04 am

  Oil Prices Dip Amidst Cautionary Tone from Federal Reserve Officials

  

  In early trading on Monday, oil prices retreated as markets digested comments from Federal Reserve officials signaling a cautious approach towards potential rate cuts. Furthermore, trading activity remained subdued due to the Presidents Day holiday observed in the United States. As of 0138 GMT, Brent crude futures declined by 58 …

  Read More »
• 19 February 2024 11:03 am

  Gold Prices Inch Closer to Weekly Highs Amidst Geopolitical Tensions

  

  On Monday, gold prices rallied, edging closer to the highest levels seen in a week, buoyed by a slight retreat in the US dollar and escalating tensions in the Middle East, fostering demand for safe-haven assets. As of 0335 GMT, spot gold surged by 0.4 percent to $2,021.09 per ounce, …

  Read More »
• 19 February 2024 7:37 am

  Weekly Financial Recap: US Data Dominates Market Sentiment

  

  In the pulse of the financial world, the spotlight of the past week fell squarely on key US economic indicators, particularly inflation data, igniting a flurry of activity and recalibration across markets. Inflation Insights Headline US inflation for January came in at 3.1%, a modest improvement that fell slightly short …

  Read More »
• 17 February 2024 2:55 am

  USD/JPY holds above 150.00 ahead of the weekend

  

  The USD/JPY pair has risen to 150.16, driven by US inflation figures and a positive consumer outlook. Federal Reserve officials Bostic and Daly have expressed caution about rate cuts and urged patience before the Fed begins its easing cycle. The Producer Price Index report shows inflation in the US is …

  Read More »
• 17 February 2024 1:19 am

  Gold touches three-day high amid inflation concerns

  

  Gold touched $2015 per ounce earlier on Friday, supported by the softer US dollar and rising US Treasury yields in the face of ongoing inflationary signals. The price of an ounce of the precious metal is $2012.51 at the time of writing.US PPI and Core PPI beat estimates, suggesting persistent …

  Read More »