Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 8 February 2024 7:28 pm

  BoE’s Mann: Near-term decelerating inflation won’t continue

  

  Bank of England policymaker Catherine Mann, who voted in favor of a rate hike in the last policy meeting, said on Thursday that she is not convinced that the near-term declaration in headline inflation will continue.Mann noted that she is worried that a Red Sea price shock could be incorporated …

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• 8 February 2024 3:53 pm

  European Stocks Start Stable Amid Varied Performances

  

  European stocks opened trading on Thursday with a mixed performance, marked by losses in shipping giant Maersk and AstraZeneca Pharmaceuticals, contrasted by the strong showing of basic consumer goods stocks such as Unilever. Market Overview The European STOXX 600 index settled at 485.55 points by 0827 GMT, reflecting a stable …

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• 8 February 2024 1:01 pm

  Oil Prices Rally Amidst Geopolitical Tensions and Strong US Demand

  

  Oil prices surged on Thursday following Israel’s rejection of a ceasefire proposal from Hamas, heightening geopolitical tensions in the Middle East. Concurrently, robust demand for fuel in the United States contributed to the market’s upward trajectory this week. Market Performance and Price Movement As of 01:32 GMT, Brent crude futures …

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• 8 February 2024 12:35 pm

  Maersk Reports Q4 Profits Below Expectations, Anticipates Lower Earnings for 2024

  

  Maersk, a global leader in container shipping, unveiled fourth-quarter profits that fell short of expectations on Thursday, projecting significantly lower earnings for 2024 amidst an oversupply of container vessels and ongoing uncertainties surrounding disruptions in the Red Sea. Fourth-Quarter Performance and Earnings Outlook Maersk reported a notable decline in underlying …

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• 8 February 2024 12:15 pm

  Disney Surpasses Expectations with Strong Earnings, Announces Dividend Increase

  

  Disney (DIS) delivered robust fiscal first-quarter earnings on Wednesday, outperforming analyst expectations and announcing a significant boost in its cash dividend. The company’s streaming losses narrowed, further buoying investor confidence. Earnings Beat and Fiscal Outlook Adjusted earnings per share stood at $1.22, surpassing analyst estimates of $0.99, as polled by …

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• 8 February 2024 11:48 am

  Societe Generale Reports Q4 Performance Exceeding Analyst Expectations

  

  Societe Generale, the French banking giant, disclosed a notable decline in fourth-quarter net income on Thursday, yet managed to surpass analyst forecasts due to signs of recovery in its domestic retail business and stable trading revenue from its investment bank. Financial Highlights: Beat Analyst Estimates Despite Profit Dip Group net …

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• 8 February 2024 10:59 am

  Dollar Trades Narrowly Amidst Fed Policy Evaluation and Data Anticipation

  

  On Thursday, the dollar navigates within a tight range as traders assess the implications of less dovish remarks from Federal Reserve policymakers and await fresh economic indicators from the United States. Attention is also drawn to inflation data from China, the world’s second-largest economy. Fed Policy Evaluation and Outlook Overnight, …

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• 8 February 2024 10:30 am

  China’s Consumer Prices Continue Decline in January

  

  Consumer prices in China persisted in their downward trajectory for the fourth consecutive month in January, highlighting the hurdles facing the world’s second-largest economy in its quest for robust recovery. Consumer Price Index Data: Decline Year-on-Year, Modest Uptick Monthly Data released by the National Bureau of Statistics on Thursday revealed …

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• 8 February 2024 10:11 am

  Gold Prices Stabilize Amidst Mixed Market Sentiment

  

  Gold prices found stability on Thursday amidst a backdrop of nuanced market dynamics, influenced by statements from Federal Reserve officials tempering expectations of imminent interest rate cuts. Additionally, geopolitical tensions escalated following Israel’s rejection of a ceasefire proposal from Hamas, adding to the complex market landscape. Market Performance: Gold Settles …

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• 8 February 2024 5:27 am

  Market Drivers – US Session, February 7

  

  Riskier assets were able to gain additional momentum due to the continuing decline in the US dollar. As global rates continued to rise on Wednesday, investors now seem to support the Fed’s rate cut in May due to ongoing geopolitical concerns.Silver prices fell to fresh two-week lows around $22.20 per …

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• 8 February 2024 5:06 am

  NYCB Explainer: Are current banking sector woes justified?

  

  Over the last 24 hours, the stock of New York Community Bank (NYCB) has declined as a result of Moody’s downgrading the bank’s credit rating to junk status. After Signature Bank failed less than a year ago, NYCB acquired its assets and placed them under a new regulatory framework. NYCB …

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• 8 February 2024 4:20 am

  AUD/USD trades sideways ahead of China’s PPI and CPI data

  

  The AUD/USD pair is moving sideways near 0.6520 in the early Asian session, with Fed officials’ comments not significantly impacting the market. Future market traders expect the first rate cuts for the Reserve Bank of Australia to occur in September, rather than August. The pair consolidates above the 0.6500 psychological …

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• 8 February 2024 2:19 am

  US dollar tanks as investors await fresh catalysts

  

  The US Dollar Index is trading neutrally at 104.15 on Wednesday, while markets assess several Fed officials’ statements to continue placing their bets on rate policy path at the next few Federal Open Market Committee meetings.The Dollar Index steadied around 104.15 on Wednesday. Remarks and comments by Fed’s Collins, Kashkari …

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