Noor Trends News, Technical Analysis, Educational Tools and Recommendations
After the Fed had hinted at three rate cuts in the pipeline for 2024, the Dow surged to new heights. Following the Federal Reserve’s the retention of Fed’s 23-year high rate of interest rate and its hold on the projections for three rate cuts before the end of 2024, the …
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March, 2024
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21 March 2024 12:09 am
FOMC Decision Seen as Price-Friendly for Gold, Triggers Fresh Rally
The Federal Reserve maintained its monetary policy unchanged at the recently concluded Federal Open Market Committee (FOMC) monetary policy meeting, as anticipated. At 5.25% to 5.50%, the main Fed Funds interest rate range remained unchanged. It seems that the FOMC statement took a moderate stance on policy, neither being very …
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20 March 2024 10:57 pm
Powell: Policymakers made no decisions about future meetings in March
Fed Chair Jerome Powell has explained 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.Key Statements:“We want to see more data that gives us higher confidence on inflation moving down sustainably.”“We made no decisions …
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20 March 2024 10:43 pm
Fed Signals Interest Rate Cuts in 2024
On Wednesday, the Federal Reserve kept the interest rate in the 5.25%-5.50% area without any change at the end of its meeting that began one day ago, which was in line with market expectations.The central bank has been holding the interest rate at these levels since July 2023, when the …
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20 March 2024 10:06 pm
FOMC Holds Rate Policy Unchanged As Broadly Expected
Following its meeting in March, the Federal Reserve has just announced its monetary policy decision to hold the US central bank’s policy rate at 5.25%–5.5%. All eyes focus now on the policy statement as well as the press conference starring Fed Chair Jerome Powell.
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20 March 2024 9:48 pm
US Dollar shows modest gains ahead of Fed decision
On Wednesday, the US dollar’s gains continued. The revised Dot Plot and Chair Powell’s tone are the centre of attention. Any surprise from the Fed, whether hawkish or dovish, could cause volatility in the USD. At present, the US Dollar Index (DXY) is trading close to 104, indicating a gain …
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20 March 2024 9:04 pm
CAD Shows Little Movement Ahead of FOMC Decision
The Canadian dollar (CAD) shows little movement as markets await the Federal Reserve’s (Fed) interest rate decision and economic outlook, expected at 18:00 GMT today. The Bank of Canada’s (BoC) upcoming statement is likely to have minimal impact, with investor focus on the Fed’s potential rate cut signal.Earlier expectations of …
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20 March 2024 7:33 pm
Will a Decrease in Inflation Prompt the Bank of England to Move Up the Rate Cut Date?
In a week marked by pivotal decisions from five of the world’s largest central banks, including the US Federal Reserve and the Bank of Japan, all eyes are now turning to the Bank of England’s upcoming announcement scheduled for Thursday. Speculation abounds regarding the likelihood of a maintained interest rate …
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20 March 2024 7:09 pm
Ahead of FOMC: Investors Still Perplexed About Rate Cut Timing
Following its meeting in March, the Federal Reserve (Fed) is anticipated to make announcements regarding monetary policy and to release the updated Summary of Economic Projections (SEP), also known as the dot plot, on Wednesday. For the sixth consecutive meeting, market participants predict that the US central bank will maintain …
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20 March 2024 3:21 pm
Bitcoin Dips Below $62,000 Amidst Profit-Taking and ETF Outflows
Bitcoin witnessed a decline on Wednesday, March 20, slipping to the level of $62,000 following significant sell-offs subsequent to the cryptocurrency’s recent record high. According to CoinDesk data, Bitcoin traded slightly above $62,900, marking a decrease of approximately 2.5% over the previous 24 hours. Despite this downturn, Bitcoin has demonstrated …
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20 March 2024 2:08 pm
European Stocks Dip Amid Luxury Goods Sell-Off and Fed Uncertainty
European stocks commenced trading on a lower note on Wednesday, with a flurry of selling impacting luxury goods companies following a warning from Kering regarding sales. Investor sentiment remained cautious amidst concerns that the Federal Reserve might indicate a slower pace for interest rate cuts this year. As of 0806 …
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20 March 2024 12:53 pm
Yen Slips to Multi-Month Lows Against Major Currencies
The yen dipped close to a four-month low against the US dollar and a 16-year low against the euro on Wednesday, driven by expectations of sustained accommodative monetary policy in Japan despite the Bank of Japan’s recent policy shift. On Wednesday, the yen touched its lowest level in four months …
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20 March 2024 12:31 pm
Gold Prices Hold Steady Ahead of Fed Decision
Gold prices remained steady on Wednesday as traders braced themselves for a pivotal monetary policy decision from the Federal Reserve, along with remarks from Chairman Jerome Powell. These events are anticipated to offer crucial insights into the outlook for interest rate adjustments throughout the year. At the close of spot …
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