Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 1 February 2024 4:08 pm

  BoE holds interest rate steady at 5.25%

  

  The Bank of England (BoE) announced on Thursday that it maintained the policy rate at 5.25% following its February policy meeting. The decision came in line with the market expectations. to be updated …

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• 1 February 2024 3:26 pm

  Currency Overview: Dollar near 7-week peak as rate cut bets ease

  

  Analyzing Dollar Strength, Yen Resilience, and Sterling Stability In the complex arena of global currency markets, the US dollar maintained its position near a seven-week high against the euro on Thursday, following statements from Federal Reserve Chairman Jerome Powell. Powell’s dismissal of the possibility of an interest rate cut in …

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• 1 February 2024 2:01 pm

  European Stock Market Faces Headwinds Amid Earnings Disappointments

  

  As global investors navigate the intricate landscape of financial markets, European stocks faced a downward trajectory on Thursday. The European Stoxx 600 index saw a decline of 0.2 percent by 0820 GMT, with banks bearing the brunt of the negative sentiment, experiencing a notable 1.4 percent drop. This downturn was …

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• 1 February 2024 12:50 pm

  Oil Prices Surge Amidst Global Economic Signals

  

  Exploring the Impact of Federal Reserve Statements and Chinese Real Estate Measures In the dynamic world of global finance, oil prices experienced a notable upswing on Thursday, February 1, buoyed by pivotal developments in both the United States and China. The day witnessed a confluence of events, with the US …

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• 1 February 2024 11:50 am

  China’s Manufacturing Sector Maintains Growth, Caixin PMI at 50.8 in January

  

  Data released by S&P Global on Thursday revealed that the Caixin Purchasing Managers’ Index (PMI) for China’s manufacturing sector aligned with market expectations, standing at approximately 50.8 points in January. This reading, consistent with forecasts, indicated sustained growth, maintaining a trend outside the contraction zone for three consecutive months – …

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• 1 February 2024 10:54 am

  Gold shines on hopes of a cut in US interest rates this year

  

  On Thursday, gold continued its upward trajectory for the fourth consecutive day as investors maintained optimism regarding potential interest rate cuts by the Federal Reserve. Despite the central bank ruling out rate cuts in March, market participants still anticipate significant reductions later in the year. In spot transactions, gold recorded …

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• 1 February 2024 2:07 am

  Market Drivers – US Session, January 31

  

  US treasuries rallied on Wednesday, owing to slower-than-expected hiring and a surprising loss from New York Community Bancorp, heightening concerns about the sustainability of US regional lenders. New York Community Bancorp wrote down poor bad estate loans, dropping its shares 36% and pushing down regional bank share values across the …

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• 1 February 2024 1:53 am

  Wall Street closes lower following FOMC decision

  

  US stocks experienced a decline on the last trading day in January, as the Federal Reserve held interest rates steady and drew hopes for an interest rate cut as soon as March. The three major US stock indexes were already weighed down by weakness in tech and tech-adjacent megacap stocks …

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• 1 February 2024 1:32 am

  Gold slides below $2040 following Powell’s comments

  

  Fed Chair Jerome Powell has signaled potential rate cuts based on economic progress, stating that there is no rush to change existing monetary policy. The Gold Index has reacted to Powell’s rejection of bets on a March rate cut and emphasis on a cautious approach to managing inflation. Gold prices …

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• 1 February 2024 12:08 am

  Powell: Rate cuts looming, but Fed persistent in avoiding inflation risks

  

  Fed Chairman Jerome Powell quickly summed up where the central bank stands. “We believe our policy rate is likely at its peak for this tightening cycle and that, if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this …

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January, 2024

• 31 January 2024 11:31 pm

  Powell explains decision to hold interest rate steady, speaks on outlook

  

  Fed Chair Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference. Investors, meanwhile have found clues that monetary policy tightening is over. On the daily chart, after FOMC decision, the US …

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• 31 January 2024 11:03 pm

  FOMC keeps US rate policy unchanged for fourth time in a row

  

  At the end of its first meeting in 2024, the Federal Open Market Committee chose to keep interest rates unchanged, as was broadly expected.Investors and market watchers are now focusing on Fed Chair Jerome Powell’s speech and signals about the future path of US monetary policy. Powell will speak at …

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• 31 January 2024 10:42 pm

  Why have Treasury yields declined ahead of FOMC decision?

  

  US treasuries experienced a rally on Wednesday due to slower-than-expected hiring and a surprise loss from New York Community Bancorp, raising concerns about the health of regional lenders. Two- to five-year Treasury yields tumbled more than 10 basis points as traders priced in a higher likelihood of Federal Reserve interest-rate …

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