Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 1 April 2024 1:08 pm

  Dollar is stable as bets increase on interest rate cuts in June

  

  The dollar was broadly stable on Monday as data showing declining inflation in the United States reinforced bets that the US central bank may cut interest rates in June, while the yen fluctuated near the 152 level to the dollar, which reinforced traders’ concerns about possible government intervention. The US …

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• 1 April 2024 12:05 pm

  Japan’s Nikkei index closes at a two-week low as a new fiscal year begins

  

  On Monday, Japan’s Nikkei index experienced a notable downturn, closing at its lowest level in two weeks, dipping below the 40,000-point mark. This decline was primarily attributed to traders opting to sell stocks to secure profits on the first day of the country’s new fiscal year. The Nikkei index recorded …

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• 1 April 2024 10:54 am

  Gold reaches a record high, supported by hopes of a US interest rate cut in June

  

  On Monday, gold prices surged to a record high following reports indicating a moderation in US inflation during February. This development heightened expectations that the Federal Reserve (the US central bank) would implement interest rate cuts in June. During spot transactions, gold prices jumped by 1 percent to reach $2,255.39 …

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• 1 April 2024 10:20 am

  Oil rises as investors bet on tight supplies

  

  On Monday, oil prices continued their upward trajectory, building on recent gains amid various factors including anticipated declines in supplies due to OPEC+ production cuts, attacks on Russian refineries, and positive data from the Chinese manufacturing sector, signaling improved demand. As of 0331 GMT, Brent crude prices climbed by 29 …

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• 1 April 2024 5:53 am

  Weekly Market Recap (25-29 March)

  

  U.S. Stocks Show Mixed Results at Close; Dow Jones Industrial Average Gains 0.12% The U.S. stock market closed with mixed results on Friday, with the Dow Jones Industrial Average reaching a new all-time high, while the S&P 500 edged higher and the NASDAQ Composite index ended lower. The Dow Jones …

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March, 2024

• 30 March 2024 2:45 am

  EUR/USD attempts to recover after dovish remarks by ECB officials

  

  After declining in response to hawkish sentiment surrounding the US Fed, the EUR/USD pair is making an attempt to rebound and is currently trading at 1.0789. Stronger inflation data may cause Fed’s Waller support the postponement of the interest rate cuts.ECB’s François Villeroy de Galhau stated that the bank can …

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• 29 March 2024 10:42 pm

  Litecoin Surges After Declared Commodity

  

  With an 11% gain in the last day, Litecoin (LTC) is now the second-best performing cryptocurrency among the top 100. This takes place on the fifth day of weak market activity, during which time Bitcoin and Ethereum saw corrections of less than 2%. The market capitalization of all cryptocurrencies combined …

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• 29 March 2024 9:48 pm

  PBOC Expected to Remain Cautious on Government Bonds

  

  President Xi Jinping ordered the central bank of China to start trading central government bonds; nevertheless, the bank is poised to exercise caution to minimize unanticipated effects on inflation and the exchange rate. The bank aims to avoid perceived heavy-handedness or quantitative easing, avoid large-scale intervention into the bond market, …

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• 29 March 2024 8:16 pm

  Powell Comments on Inflation Figures, Conveys Hawkish Messages

  

  The Chairman of the US central bank, Jerome Powell, participates in a discussion at the Macroeconomics and Monetary Policy Conference, in San Francisco. Earlier on the same day the PCE data was released and came in line with consensus.As for market’s reaction; the US dollar ticked higher as an immediate …

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• 29 March 2024 7:39 pm

  Does PCE data support Fed’s ‘higher for longer stance’?

  

  The US Bureau of Economic Analysis reports that after rising by 2.4% in January, the US Core PCE inflation rate climbed to 2.8% YoY in February. This is in line with market estimates and comes after a 2.4% gain in January. While the monthly result showed 0.3% as expected, the …

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• 29 March 2024 6:32 pm

  USD/JPY retreats following PCE data

  

  The USD/JPY pair dipped following February’s Core PCE data, indicating a gradual cooling of inflation but concerns linger. Fed officials maintain a cautious outlook on rate cuts, awaiting further evidence of sustained disinflationary trends.The US Core Personal Consumption Expenditure (PCE) price index, the Federal Reserve’s preferred inflation gauge, showed prices …

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• 29 March 2024 2:55 pm

  Oil Extends Growth for Third Consecutive Month

  

  On Friday, oil prices surged, extending their upward trajectory for the third consecutive month, as investors eagerly awaited OPEC+’s decision next week regarding its production policy, alongside concerns over increased US inventories. Brent crude saw a notable increase of 69 cents, reaching $86.92 per barrel from its opening price of …

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• 29 March 2024 12:30 pm

  Gold Prices Achieve Highest Monthly Performance in Three Years

  

  On Thursday, March 28th, gold prices soared to unprecedented heights, marking their best monthly performance in three years, buoyed by anticipation of interest rate cuts and robust demand for safe-haven assets. Gold futures surged by approximately 1.2% to settle at $2,238.4 per ounce by the end of the session. Meanwhile, …

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