Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 28 February 2024 6:27 am

  Market Drivers – US Session, February 27

  

  Markets seem to have entered a consolidative stage ahead of key data releases on both sides of the ocean, while Fed speakers and ECB officials equally appear aligned behind the idea of cutting rates later than the majority of investors anticipate.The USD Index maintained its gradual leg lower in place, …

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• 28 February 2024 2:18 am

  USD/CAD advances to near two-week high

  

  The USD/CAD pair has gained positive momentum for the fourth consecutive trading day, reaching a nearly two-week high around the 1.3545 region during the Asian session. This positive move is primarily driven by a modest increase in US Dollar (USD) demand, but bullish crude oil prices may limit further gains …

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• 28 February 2024 1:10 am

  How can China overcome its recent economic problem?

  

  The bankruptcy of Evergrande, the largest private real estate group in China, was one of the reasons that drew the world’s attention to what is happening to the world’s second largest economy. But the plight of small and medium-sized companies in China has not received the attention it deserves at …

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• 28 February 2024 12:16 am

  US bond yields continue to rise as stocks lose momentum

  

  US Treasury bond yields have continued to rise since the beginning of daily trading on Tuesday, driven by anticipation of many batches of economic data, statements by Fed officials, and earnings reports, as this week’s economic agenda is busy with many influences on price movement.Despite its tendency to rise, the …

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• 27 February 2024 11:27 pm

  EUR/USD stuck as markets focus shifts to key US data

  

  Earlier in the day, the EUR/USD pair was stuck in the middle at 1.0850. Tuesday’s US Durable Goods Orders fall in January was more than expected, and there was little to move the pair in either way. On Wednesday, investors will be watching for the most recent US Gross Domestic …

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• 27 February 2024 10:10 pm

  Oil extends rebound following Chinese demand surge

  

  WTI crude oil has gained +1.46%, and is trading at $78.52 per barrel at the time of writing. Brent crude has gained +1%, and is trading at 82.44 per barrel.Crude Oil has extended its recovery this week, with WTI crude oil reaching a new high on Tuesday. This comes as …

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• 27 February 2024 8:57 pm

  USD/JPY Slides Following Dismal US Durable Goods Data

  

  The USD/JPY pair has slid after US Durable Goods orders declined more than expected in January. Japan’s National CPI inflation fell less than expected, with the headline annualized CPI slipping to 2.2% from 2.6% for the year ended January. However, markets were expecting a print of 1.8%. US MoM Durable …

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• 27 February 2024 7:43 pm

  Bitcoin soars past $57200 on the back of institutional adoption

  

  Bitcoin has reached a new yearly high far above $56,000, marking its first high since December 2021. At the time of writing, the most important crypto asset is trading at $57200, up 4.91%. Professional investors at finance firms have piled into Bitcoin derivatives, with open interest for Bitcoin futures contracts …

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• 27 February 2024 4:02 pm

  US Dollar Weakens in European Markets Amidst Yield Slowdown and Awaited Economic Data

  

  Dollar Resumes Decline Amidst Yield Slowdown and Market Anticipation In European markets on Monday, the US dollar faced renewed downward pressure against a basket of global currencies, marking a continuation of losses halted in the previous session. This decline signals a trajectory towards testing the lowest levels seen in three …

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• 27 February 2024 3:15 pm

  European Stocks Edge Higher Amid Awaited Inflation Data; Basic Resources Lead Gains

  

  European Markets Display Modest Gains Amidst Anticipation for Key Economic Indicators European stocks experienced slight upward movement on Tuesday, buoyed by gains in basic resources stocks and improved earnings expectations. Market participants, alongside central bankers, remain attentive to forthcoming inflation data, which holds the potential to influence interest rate trajectories. …

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• 27 February 2024 1:08 pm

  Nikkei Flat as Advantest Profit-Taking Offsets Early Gains

  

  Introduction: Nikkei Average Sees Minimal Movement Amidst Profit-Taking Japan’s Nikkei average ended Tuesday’s trading session nearly unchanged, relinquishing most of its early gains as investors opted to book profits, particularly in chip heavyweight Advantest. Despite reaching unprecedented levels earlier in the session, the index closed with marginal movement, reflecting a …

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• 27 February 2024 11:43 am

  Gold Prices Rise Amidst Dollar Decline Ahead of US Inflation Report

  

  Gold Prices Climb as Dollar Weakens Ahead of Key Economic Data Gold prices surged on Tuesday, propelled by a decline in the dollar, as investors awaited a significant inflation report from the United States. The week ahead is marked by a flurry of data releases and statements from Federal Reserve …

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• 27 February 2024 2:50 am

  Market Drivers – US Session, February 26

  

  A further depreciation of the US dollar enabled riskier financial assets to continue rising in the green, amidst persistent bets of a June interest rate cut by the Fed and before of important inflation data for the US (PCE) and the Eurozone’s CPI data. When measured by the USD Index …

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