Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 29 February 2024 12:10 pm

  Nikkei Ends Lower on Profit-Taking, Yen Strength, and Foreign Selling

  

  Japan’s Nikkei index experienced a modest decline on Thursday, as investors opted to capitalize on recent gains, leading to profit-taking activities. However, the index managed to recover from its early losses, supported by buying demand after dipping below the 39,000-point mark for the first time since late February. The yen’s …

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• 29 February 2024 11:23 am

  Oil Prices Extend Losses Amid Rising US Crude Inventories and Interest Rate Concerns

  

  Oil Markets Face Pressure from Surging US Crude Inventories and Interest Rate Uncertainties Oil prices continued their downward trajectory on Thursday, extending losses from the previous session. The market was weighed down by a larger-than-expected growth in US crude inventories, signaling potential challenges to demand, alongside indications of sustained high …

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• 29 February 2024 2:50 am

  Market Drivers – US Session, February 28

  

  Bitcoin has hit $63000 after more than two years below this level, and liquidations have surpassed $277 million in the last 24 hours. This massive rally in the pioneer cryptocurrency could be attributed to the spot ETF approval. Bitcoin price has shattered past the $63000 threshold, with the bulls not …

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• 29 February 2024 2:14 am

  Gold stabilizes on sliding T-yields ahead of PCE data

  

  Thanks to recent slew of data on economic growth and a decline in US Treasury yields, the price of gold is stable around $2034 per ounce. Concerns about policy easing from the Fed and mixed US economic data keep gold investors on edge. Gold’s advances are limited by the 50-day …

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• 29 February 2024 1:04 am

  Fed’s Williams: Three rate cuts in 2024 a good baseline for Fed

  

  President of New York Federal Reserve (Fed) John Williams noted on Wednesday that the Fed is likely to begin cutting interest rates in 2024, albeit in the latter half of the year.Key QuotesInflation pressures have fallen amid broad-based improvement.The path back to 2% inflation is likely uneven.Incoming economic data will …

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• 28 February 2024 11:28 pm

  US stocks slide in cautious countdown to looming PCE

  

  US stocks retreated on Wednesday, coming off a mixed close as caution prevailed ahead of a crucial inflation report that will guide expectations for interest rate cuts.The Dow Jones Industrial Average and the S&P 500 were down nearly 0.2%. The Nasdaq Composite sagged almost 0.4%. Stocks have struggled in February’s …

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• 28 February 2024 10:39 pm

  Will Thursday’s PCE figure make Fed’s road bumpier?

  

  In case inflation unexpectedly makes a comeback, the world’s largest central banks will carry out their mandated duties and fight back. This has obviously become a main concern since the beginning of 2024. In order to return US inflation to low pre-pandemic levels, the US central bank is likely to …

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• 28 February 2024 9:22 pm

  Bitcoin stabilizes after soaring past $63000 amid cautious optimism

  

  Bitcoin has hit $63000 after more than two years below this level, and liquidations have surpassed $277 million in the last 24 hours. This massive rally in the pioneer cryptocurrency could be attributed to the spot ETF approval. Bitcoin price has shattered past the $63000 threshold, with the bulls not …

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• 28 February 2024 8:14 pm

  EUR/USD falls as attention shifts to EU, US inflation data

  

  The EUR/USD pair has fallen for the second consecutive day against the US dollar as investors assess recent data from the US, revealing the economy remains strong. The US Bureau of Economic Analysis reported the second estimate of GDP for the last quarter of 2023, coming a tenth lower at …

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• 28 February 2024 7:21 pm

  Confidence in Eurozone Economy worsened in February

  

  According to a survey of managers and consumers, confidence in the eurozone economy unexpectedly declined in February as attitude soured across all sectors.According to a forecast survey released by The Wall Street Journal, the eurozone sentiment indicator, an overall measure of business and consumer confidence, defied the tiny gain projected …

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• 28 February 2024 3:26 pm

  European Stocks Dip Amid Weak Corporate Earnings, Awaited Inflation Data

  

  European Markets Slide Amidst Lackluster Profits and Anticipation of Key Economic Indicators European stocks faced downward pressure on Wednesday as disappointing earnings from various companies subdued investor sentiment. Meanwhile, global markets remained on edge, eagerly anticipating forthcoming inflation data releases in the United States and Europe for insights into evolving …

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• 28 February 2024 1:25 pm

  Gold Prices Stabilize Amid Yield Decline, Dollar Strength

  

  Introduction: Gold Market Steadies Amidst Yield Retreat and Dollar Uptick Gold prices found stability on Wednesday as a retreat in yields on US Treasury bonds partially offset the impact of a stronger dollar. Traders remained vigilant for key inflation data releases and statements from US Central Bank officials, seeking clues …

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• 28 February 2024 12:11 pm

  Oil Prices Dip in Asia Amidst Rate Cut Delay Speculations and Rising US Inventories

  

  Oil Prices Retreat on Rate Cut Delay Speculations Despite OPEC+ Production Cut Extension Possibilities Oil prices experienced a decline in Asian trading on Wednesday, as concerns over potential delays in US interest rate cuts and a surge in US crude inventories outweighed earlier support derived from reports suggesting a potential …

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