Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 17 April 2024 11:55 am

  Dollar stabilizes after statements by Federal Reserve officials

  

  The dollar was broadly stable on Wednesday, keeping the yen close to its lowest levels in 34 years, after comments from Federal Reserve officials, including Chairman Jerome Powell, indicated that interest rates would likely remain high for a longer period. Senior US central bank officials, including Powell, on Tuesday declined …

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• 17 April 2024 11:00 am

  Gold stabilizes amid geopolitical risks, rising dollar and bond yields

  

  Gold prices stabilized on Wednesday after rising to record levels last week, as safe-haven demand fueled by geopolitical risks in the Middle East partly offset the impact of pressure from a stronger dollar and US Treasury yields. Gold settled in spot trading at $2,381.68 per ounce by 0337 GMT, after …

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• 17 April 2024 10:19 am

  Oil prices fall slightly as US inventories grow

  

  Oil prices experienced a slight decline in Asian trading on Wednesday, driven by indications of a significant weekly increase in U.S. inventories, signaling less constrained markets. However, concerns persisted regarding Israel’s potential response to an attack by Iran. The recent surge in crude prices over the past two weeks, fueled …

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• 17 April 2024 12:25 am

  BoE Governor: UK may cut interest rate before Fed

  

  Andrew Bailey, the governor of the Bank of England, has intimated that because the inflation dynamics of the two economies differ, the UK may be able to cut interest rates before the US. After unexpectedly strong price data in America this week rattled markets, Bailey said there is more demand-led …

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• 16 April 2024 11:54 pm

  Gold price surges following Powell’s hawkish remarks

  

  Gold prices have risen following Fed Chair Jerome Powell’s hawkish comments and mixed US data. The Middle East tensions have heightened Gold’s status as a safe-haven asset, and market expectations reduce the likelihood of multiple Fed rate cuts this year. Gold prices edged higher late in Tuesday’s North American session, …

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• 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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