Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 11 April 2024 3:52 pm

  Dollar rises and Yen falls amid lower expectations of interest rate cuts

  

  The dollar gained ground on Thursday following the release of higher-than-expected US inflation data, which tempered remaining expectations for the Federal Reserve to initiate a cycle of interest rate cuts in June. Meanwhile, the yen depreciated to mid-1990s levels. Investor attention has now shifted towards US producer price data and …

  Read More »
• 11 April 2024 1:44 pm

  Gold rises on the back of geopolitical tension enhancing safe haven appeal

  

  Gold prices rebounded on Thursday, recouping losses from the previous session, buoyed by geopolitical tensions that spurred demand for the precious metal as a safe haven. In spot transactions, gold edged up by 0.1 percent to $2,334.64 per ounce as of 0809 GMT. The yellow metal had seen record highs …

  Read More »
• 11 April 2024 12:38 pm

  European Shares Remain Stable as Market Attention Shifts to ECB Policy Decision

  

  European shares opened cautiously on Thursday, reflecting a sense of apprehension ahead of the European Central Bank’s (ECB) monetary policy decision and President Christine Lagarde’s remarks regarding potential interest rate cuts. As of 0720 GMT, the pan-European STOXX 600 remained flat, with the telecommunications sector experiencing a 1.3% decline. Market …

  Read More »
• 11 April 2024 11:02 am

  Oil Prices Inch Upward Amid Escalating Tensions in the Middle East

  

  During Thursday’s trading session, oil prices edged up following a notable increase in the previous session, with investors bracing for potential escalation in the Middle East crisis, particularly involving Iran, OPEC’s third-largest oil producer. Brent crude futures rose by 5 cents to reach $90.53 a barrel at 0632 GMT, while …

  Read More »
• 11 April 2024 6:23 am

  Japan’s Suzuki supports any steps to respond to excessive currency moves

  

  On Thursday, Japanese Finance Minister Shunichi Suzuki made a verbal intervention. Suzuki stated that he will not rule out taking any measures in response to unwarranted movements in foreign exchange. He went on to say that he and Vice Finance Minister Kanda are always talking about foreign exchange. As of …

  Read More »
• 10 April 2024 11:49 pm

  FOMC members are concerned about high inflation persistence

  

  FOMC minutes revealed that its members expressed concerns that inflation may continue rising, though they are still expecting rate cut at some point this years. The minutes said “inflation was not fast enough on its way down” despite some recent decline. But the participants were keen on keeping the language …

  Read More »
• 10 April 2024 10:06 pm

  FOMC Minutes: Evidence required that inflation is cooling toward target

  

  According to latest FOMC meeting minutes, the US Federal Reserve wants greater assurance that inflation is heading towards its target of 2%. At their meeting in March, Federal Reserve officials voiced concern that inflation was not decreasing rapidly enough, but they still anticipated lowering interest rates later in the year. …

  Read More »
• 10 April 2024 6:26 pm

  Gold retreats after US inflation data

  

  Gold prices retreated on Wednesday from their record high levels amid a resurgence in the dollar and US Treasury bond yields following the release of data indicating higher-than-expected inflation in the United States. This dampened expectations of an imminent cut in US interest rates. Spot gold prices declined by 0.6 …

  Read More »
• 10 April 2024 6:20 pm

  Bank of Canada keeps rates unchanged

  

  Bank of Canada left its interest rate unchanged in April meeting, reiterating that it’s premature to discuss turning to QE anytime soon. The central bank left policy rates at 5.00% for the sixth time in a row, in line with market expectations. The BoC statement also referred to increasing growth …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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% …

  Read More »