Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 17 April 2024 8:12 pm

  BoE’s Bailey: Inflation will drop strongly in the next month

  

  Bank of England’s Governor Andrew Bailey speaks in the wake of the pick up in UK inflation figures in March.GBP/USD keeps the tight range in the low 1.2400s, fading the initial bullish move to the 1.2480 zone on the back of the ongoing bounce in the Dollar.Key QuotesWe’re pretty much …

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• 17 April 2024 7:08 pm

  ECB’s Nagel: Eurozone price pressures could continue for some time

  

  In an interview on Wednesday, European Central Bank policymaker and Bundesbank Chief Joachim Nagel said that price pressures in the Eurozone could continue for some time, per Reuters.“It’s not completely clear if the inflation rate will reach 2% target next year and stay at this level,” Nagel added and noted …

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• 17 April 2024 5:08 pm

  US Futures Rise with Megacap Support; Eyes on Earnings and Fed

  

  Wednesday kicked off with a surge in U.S. stock index futures, propelled by the robust performance of megacap growth stocks. Investors were captivated by a flurry of corporate earnings reports and insights from Federal Reserve policymakers, eagerly seeking clues about the health of the economy. Before the opening bell, megacap …

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• 17 April 2024 4:45 pm

  Bitcoin Slipping Below $63k Amidst Dollar Doldrums and Rate Resistance

  

  Bitcoin experienced a slight dip in price on Wednesday, maintaining its position within a trading range established over the past month. The market sentiment continued to be delicate as U.S. interest rates remained elevated. Recent sessions witnessed a surge in the strength of the dollar, putting pressure on crypto markets. …

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• 17 April 2024 3:46 pm

  Oil declines as US inventories rise and global demand concerns

  

  Oil prices fell for the third straight session on Wednesday, amid the potential impact of rising US crude inventories, global demand concerns stemming from weak economic data from China and bleak prospects for an interest rate cut. Brent crude futures for June delivery fell 21 cents, or 0.2 percent, to …

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• 17 April 2024 2:45 pm

  Japan’s Nikkei closed below 38,000 points for the first time since February

  

  Japan’s Nikkei index fell for the third day in a row on Wednesday, closing below 38,000 points for the first time in two months, as tension in the Middle East affected morale and investors took profits before the corporate results announcement season reached its peak. The Nikkei index closed down …

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• 17 April 2024 2:10 pm

  European stocks stabilize with focus on the quarterly reports

  

  European stocks stabilized on Wednesday, hovering near their lowest levels in more than a month, with the spotlight on the quarterly earnings reports of companies such as (ASML), (LVMH), and (Adidas (ETR:ADSGN)). At a time when investors are monitoring developments in the Middle East. The European STOXX 600 index stabilized …

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• 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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