Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 12 January 2024 6:02 pm

  US Producer Price Index Rises in December, Core PPI Below Expectations

  

  The latest data from the US Bureau of Labor Statistics reveals that the Producer Price Index (PPI) for final demand in the United States increased by 1% on a yearly basis in December. This marks a slight uptick from the 0.8% growth recorded in November, which was revised from the …

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• 12 January 2024 3:02 pm

  UK’s GDP Beats Expectations

  

  This morning, the UK’s Office for National Statistics released data indicating that the country’s Gross Domestic Product (GDP) expanded by 0.3% on a monthly basis in December. This figure surpassed market expectations, which had predicted a growth rate of 0.2%. Notably, the preceding reading for November reflected a contraction of …

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• 12 January 2024 3:00 pm

  Gold Prices Rally Amid Middle East Tensions Following Air Strikes on Yemen

  

  Gold prices surged on Friday as concerns heightened over the escalating conflict in the Middle East due to airstrikes in Yemen, increasing the appeal of the precious metal as a safe-haven asset. As of 07:01 GMT, spot gold saw a 0.3 percent rise, reaching $2,034.84 per ounce. Despite a 0.5 …

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• 12 January 2024 2:59 pm

  European Stocks Open Higher Despite Middle East Tensions, ECB Rate Cut Optimism

  

  European stocks began the day on a positive note, with investors seemingly overlooking the Middle East conflict escalation and focusing on optimism surrounding a potential interest rate cut by the European Central Bank (ECB). Airbus shares also experienced gains, driven by the company’s record annual orders for aircraft. The European …

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• 12 January 2024 2:58 pm

  Nikkei Index Hits 34-Year High, Notching Best Week Since March 2022

  

  Japan’s Nikkei index surged to its highest level in 34 years on Friday, marking its most impressive week since March 2022. The rally was bolstered by diminishing expectations that the Bank of Japan would imminently shift away from its monetary easing policy and a resurgence of foreign investor interest. Closing …

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• 12 January 2024 12:04 pm

  Oil Prices Surge Over 2% as US and UK Launch Strikes Against Houthi Targets in Yemen

  

  Oil prices experienced a significant spike of over two percent on Friday following joint strikes by the United States and Britain against Houthi military targets in Yemen. The military action was in response to attacks by the Iran-aligned Houthi group on ships in the Red Sea since late last year. …

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• 12 January 2024 6:29 am

  Market Drivers – US Session, Jan 11

  

  Following Iran’s announcement early on Thursday that a civilian oil tanker had been captured in the Gulf of Oman, WTI crude oil saw a spike in price. The seizure, according to official Iranian state media, was a reprisal for the US seizing the identical ship, which was headed towards Iran, …

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• 12 January 2024 1:22 am

  Gold price recovers ahead of China’s CPI

  

  In the early Asian session on Friday, the price of gold rises from the weekly low of $2,013 to $2,030. The chance that the Fed would not start lowering interest rates as soon as anticipated, however, might restrict the upside of the yellow metal and put some selling pressure on …

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• 12 January 2024 12:10 am

  GBP/USD edges higher ahead of key UK GDP, US PPI data

  

  The Bank of England may be facing a deadline for its first rate decrease because of a possible faster pace of decline in inflation, which is why the GBP/USD pair is trading strongly for the third day in a row. The US CPI inflation data could put the Federal Reserve’s …

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• 11 January 2024 11:21 pm

  Fresh US – Chinese row on chipmaking

  

  Wang Wentao, China’s commerce minister, has voiced worries about US export restrictions that bar foreign nations from sending lithography machines to China. With these restrictions, the US has prevented China from obtaining cutting-edge chips and the equipment needed to produce them, which may support AI and highly developed computers for …

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• 11 January 2024 10:33 pm

  Fed’s Mester: March probably too early for rate cut

  

  The rocky path of getting inflation back to the US Federal Reserve’s 2% target rate reflected in the latest Consumer Price Index (CPI) figures means that it would likely be too soon for the central bank to cut its policy rate in March, Cleveland Fed President Loretta Mester said on …

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• 11 January 2024 9:27 pm

  Gold deteriorates below 2015 after US CPI data

  

  Gold prices have been volatile due to high price pressures in the United States in December, and investors seem confident about the Federal Reserve reducing interest rates in March. The precious metal is trading at $2014.69 at the time of writing.The United States Bureau of Labour Statistics reported hotter-than-projected Consumer …

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• 11 January 2024 8:15 pm

  Microsoft Surpasses Apple, But CPI Report Drags US Stocks Lower

  

  US stocks are lower after consumer-price index data showed inflation was slightly hotter than expected in December.Signs of cooling inflation fueled a big rally across a range of markets toward the end of last year, with investors piling into everything from Treasurys to stocks to low-rated corporate debt.Thursday’s data was …

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