Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 13 February 2024 6:03 pm

  US Inflation Unexpectedly Softens, Dollar Strengthens

  

  In January 2024, the US annual inflation rate decreased to 3.1%, down from December’s 3.4%, yet surpassing expectations of 2.9%. The Consumer Price Index (CPI) showed a 0.3% increase from the prior month, exceeding forecasts of 0.2%. Core inflation remained steady at 3.9% annually, defying expectations of a slowdown to …

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• 13 February 2024 5:50 pm

  OPEC Upgrades Economic Growth and Oil Demand Outlook

  

  In its latest monthly report, OPEC has revised its global economic growth forecasts upward for 2024 and 2025, projecting a more optimistic outlook with expectations set at 2.7% and 2.9% respectively. On the oil front, OPEC maintains a steady outlook for global oil demand growth, with projections holding firm at …

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• 13 February 2024 5:20 pm

  Dollar Steady Ahead of Key US CPI Data Release

  

  The dollar stands firm this Tuesday, holding its ground ahead of the eagerly anticipated US Consumer Price Index (CPI) figures. Traders are cautious, refraining from selling the dollar as recent adjustments by the US Administration to refine inflation metrics suggest potential underestimation of current CPI expectations. The National Federation of …

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• 13 February 2024 2:38 pm

  European Stocks Dip Ahead of US CPI Data Release

  

  European stocks experienced a slight decline on Tuesday as investors adopted a cautious stance in anticipation of the release of US consumer price data, a critical determinant of the US Federal Reserve’s interest rate trajectory. The European STOXX 600 index edged 0.2% lower from its two-year peak as investors assessed …

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• 13 February 2024 12:31 pm

  Dollar Approaches Key Level Against Yen, Bitcoin Holds Above $50,000by US dollar’s gains

  

  The dollar edged closer to the psychologically significant level of 150 yen on Tuesday, maintaining stability as markets anticipated the release of crucial US inflation data later in the day. Meanwhile, Bitcoin continued its steady hold above the $50,000 mark for the second consecutive day. Trading activity in Asia remained …

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• 13 February 2024 11:57 am

  Oil rises amid risks of tension in the Middle East

  

  Oil prices rose slightly on Tuesday amid concerns that tension in the Middle East could disrupt supplies, but uncertainty about the pace of potential US interest rate cuts and the impact on fuel demand limited gains. By 0420 GMT, Brent crude futures rose seven cents, or 0.1 percent, to $82.07 …

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• 13 February 2024 2:37 am

  Market Drivers – US Session, February 12

  

  Financial markets navigated in a very modest range after a slow start to the new trading week as market participants exercised caution ahead of the release of significant US inflation reading on February 13.The USD Index finished the session marginally different from Friday’s closing levels in the low-104.00s amid varied …

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• 13 February 2024 2:05 am

  US Dollar Surges Ahead of Retail Sales, Inflation Data

  

  In reaction to investors’ anticipation of US retail sales and inflation data this week, which could provide insight into the timing of the Federal Reserve’s much-anticipated interest rate reductions, the dollar saw a little increase against other major currencies on Monday.Bitcoin reached $50,000 in cryptocurrency for the first time since …

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• 13 February 2024 12:26 am

  USD/JPY stabilizes ahead of US inflation data

  

  The USD/JPY pair has stabilized at 149.33 as markets await crucial US inflation data, affecting the Fed policy outlook. The US January CPI is expected to decline, fueling discussions on the Fed’s easing timeline amid calls for patience. The Federal Reserve is unlikely to alter rates in March, but May …

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• 12 February 2024 10:56 pm

  Crude oil still surging around recent gains

  

  Due to the weight of global stories, crude oil prices are still holding to recent highs. Hopes for a Gaza ceasefire are still alive, but emotions are still high.The OPEC production limitations are mitigated by the ongoing increase in US crude oil production. As a possible truce in the Gaza …

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• 12 February 2024 9:57 pm

  What should investors know about Chinese stock market crisis?

  

  The Chinese stock market collapse has significantly impacted foreign institutional investors, who considered China a key investment hub. The real estate crisis, slow growth, deflation, and demographic headwinds have worsened the outlook of the Chinese market. The recent uptick in the Shanghai Shenzhen CSI 300 index is insufficient to offset …

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• 12 February 2024 9:31 pm

  US stocks gain traction after flat opening

  

  The Energy Sector is the best-performing major sector in the S&P 500 so far on Monday, rising 0.8% on the day. On the other hand, the Health Care Sector is down 0.3%. Diamondback Energy Inx. (FANG) is up more than 10% as the top gainer in the first half of …

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• 12 February 2024 8:20 pm

  Bitcoin Surges to $50k on ETF Demand

  

  Bitcoin has surged to $50,000 for the first time in over two years, marking a remarkable comeback from a series of crypto industry scandals and bankruptcies. The original cryptocurrency has tripled in value since the start of last year, climbing back from a 64% plunge in 2022. Bitcoin last traded …

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