Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 26 January 2024 1:26 am

  WTI hovers around $77.00 with positive momentum as focus shifts to US PCE

  

  WTI price is expected to close the week in a positive territory due to multiple factors. US GDP data contributed support to reinforcing oil prices. PBoC’s strategy to inject liquidity into the economy contributes to the strength in oil prices.Chinese officials asked their Iranian counterparts to help restrain attacks on …

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• 26 January 2024 12:27 am

  Treasury yields decline following data supporting Fed’s soft landing

  

  US Treasury bond yields have been declining since the beginning of trading on Wall Street, after US economic data favouring the “flexible landing” scenario and that the Federal Reserve could be closer to achieving it.Ten-year US Treasury bond yields fell to 4.131%, compared to the last daily close, which recorded …

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• 25 January 2024 11:20 pm

  Canadian dollar benefits from surging oil prices

  

  The Canadian dollar was able to regain the upward trend after the improvement in risk in global financial markets following positive US economic data that suggested the “soft landing” scenario and that the Federal Reserve’s approach to achieving it is still possible.Oil futures concluded Thursday’s trading in an upward direction …

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• 25 January 2024 10:14 pm

  EUR/GBP experiences losses post ECB rate decision

  

  The EUR/GBP pair is standing at 08536 at the time of writing, down -0.20%, earlier on the day it was at almost 0.8530, down by 0.30%. The ECB held rates steady as expected. Christine Lagarde refrained from commenting on the timing of the ECB rate cuts. Monetary policy divergences are …

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• 25 January 2024 8:58 pm

  Gold attempts to recover after higher-than-expected US GDP data

  

  After the most recent data revealed that the US economy grew faster than anticipated and that inflation came in lower than expected, gold prices are trading at session highs during the North American session. The yellow metal is trading at $2014.39 per ounce at the time of writing.The US economy …

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• 25 January 2024 8:34 pm

  PCE Data Preview: Forecasts by major banks, US inflation seen toward target

  

  Fed’s preferred inflation gauge, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Friday, January 26 at 13:30 GMT and as we get closer to the release time, here are the forecasts of economists and researchers of eight major banks. Headline …

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• 25 January 2024 7:41 pm

  Lagarde looks optimistic about ‘disinflation process’

  

  The European Central Bank President, Christine Lagarde, has warned that rapid wage growth is slowing in the eurozone, with interest rates holding at 4%. According to Lagarde, disinflation process is at work, and the pick-up in inflation in December was weaker than expected. Lagarde also noted that price pressures would …

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• 25 January 2024 5:37 pm

  ECB holds key rates unchanged in January

  

  The European Central Bank (ECB) announced on Thursday that it has decided to maintain key interest rates unchanged following its January policy meeting. The interest rate on the main refinancing operations will stay at 4.50%, the interest rate on the marginal lending facility at 4.75%, and the deposit facility rate …

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• 25 January 2024 3:55 pm

  The Turkish Central Bank raises interest rates by 250 basis points

  

  In its initial meeting of 2024, the Turkish Central Bank opted to further raise interest rates by 250 basis points, bringing the new rate to 45%, aligning with market expectations. The decision, announced on Thursday, January 25, reflects the ongoing effort to curb inflation and stabilize the Turkish economy. The …

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• 25 January 2024 2:59 pm

  Dollar stabilizes in anticipation of US data and focus on the ECB

  

  The dollar was broadly stable near a six-week high on Thursday, as traders awaited US GDP data and other data this week for clues about where interest rates might be heading. At the same time, the euro saw some decline ahead of the European Central Bank’s monetary policy meeting later …

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• 25 January 2024 12:36 pm

  Gold is hovering near a one-week low amid the strength of USD

  

  Gold prices maintained their position near a one-week low on Thursday, as they grappled with the influence of a resilient dollar and escalating bond yields. The market’s focus was primarily directed towards the impending release of US GDP data and the outcome of the European Central Bank’s (ECB) monetary policy …

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• 25 January 2024 12:21 pm

  Oil rises amid decline in US crude inventories and stimulus hopes in China

  

  Oil prices experienced an upward surge on Thursday, driven by a combination of factors contributing to market optimism. Data revealing a substantial drop in US crude inventories, coupled with the Chinese central bank’s decision to reduce the reserve requirement ratio for banks, generated positive sentiment and heightened hopes for continued …

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• 25 January 2024 4:40 am

  Market Drivers – US Session, Jan. 24

  

  A growing appetite for riskier assets caused gold prices to retreat during the North American session, closing in on the $2010 area. The recovery of interest in the risk complex put pressure on the dollar and drove the EUR/USD pair above 1.0900. News of further stimulus in China from the …

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