Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 31 January 2024 11:31 pm

  Powell explains decision to hold interest rate steady, speaks on outlook

  

  Fed Chair Jerome Powell explains 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. Investors, meanwhile have found clues that monetary policy tightening is over. On the daily chart, after FOMC decision, the US …

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• 31 January 2024 11:03 pm

  FOMC keeps US rate policy unchanged for fourth time in a row

  

  At the end of its first meeting in 2024, the Federal Open Market Committee chose to keep interest rates unchanged, as was broadly expected.Investors and market watchers are now focusing on Fed Chair Jerome Powell’s speech and signals about the future path of US monetary policy. Powell will speak at …

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• 31 January 2024 10:42 pm

  Why have Treasury yields declined ahead of FOMC decision?

  

  US treasuries experienced a rally on Wednesday due to slower-than-expected hiring and a surprise loss from New York Community Bancorp, raising concerns about the health of regional lenders. Two- to five-year Treasury yields tumbled more than 10 basis points as traders priced in a higher likelihood of Federal Reserve interest-rate …

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• 31 January 2024 9:57 pm

  Explainer: What rate cuts matter for US economy in 2024

  

  Interest rate cuts could bring relief to consumers and businesses who have been paying more for mortgages, auto loans, credit card debt, and other forms of borrowing as a result of the Fed’s increases. However, rate-weary Americans will likely have to wait a few more months for respite, as Wall …

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• 31 January 2024 8:45 pm

  Alphabet stock dives following lower than expected Google ad revenues

  

  Google parent Alphabet’s stock declines more than 5% after the company reported its Q4 earnings, which missed estimates on ad revenue. The company’s revenue, excluding traffic acquisition costs, was $72 billion, higher than the $63.12 billion generated during the same period in the prior year. However, investors focused on the …

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• 31 January 2024 8:01 pm

  US dollar declines following surprise negative ADP data

  

  Ahead of the Fed meeting, the US dollar experienced a fall following a false positive surge higher. Traders were taken aback by the negative ADP figure. The US Dollar Index is still trapped in its trend, circling the 200-day SMA. At 103.102, the DXY chart shows a loss of -0.031%.The …

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• 31 January 2024 7:40 pm

  Gold surges on weak US jobs data, ahead of FOMC decision

  

  Gold is trading at $2052.99 per ounce at the time of writing. The price of the precious metal surges by 0.77% ahead of the Federal Reserve’s monetary policy announcement, with the focus mainly on the bank’s future interest rate guidance. Expectations for early rate cuts by the Fed increased as …

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• 31 January 2024 5:53 pm

  When might the Bank of England initiate interest rate cuts

  

  The Bank of England (BoE) is expected to acknowledge rapid progress in reducing inflation during its first meeting of 2024. Despite analysts anticipating a hold on interest rates at 5.25%, the central bank’s policy announcement on Thursday will be accompanied by new forecasts, reflecting the projected decline in UK inflation …

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• 31 January 2024 4:43 pm

  Dollar is poised for huge monthly gains ahead of the Fed’s decision

  

  In early European trading on Wednesday, the US dollar maintained its strength, poised for the most significant monthly gain since September. Meanwhile, the euro faced headwinds following weak inflation data, contributing to the dollar’s appeal. Geopolitical tensions in the Middle East and economic data played crucial roles in shaping currency …

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• 31 January 2024 3:09 pm

  China’s Manufacturing Contracts for Fourth Consecutive Month, Signaling Economic Challenges in 2024

  

  China’s manufacturing sector has experienced its fourth consecutive month of contraction in January, according to an official survey released on Wednesday. The data suggests ongoing challenges for the large sector and the broader economy in regaining momentum at the outset of 2024. The official purchasing managers’ index (PMI) for the …

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• 31 January 2024 2:15 pm

  Gold Prices Edge Lower on Easing Rate Cut Expectations

  

  Gold prices are poised to register their first monthly decline in four months as investors recalibrate expectations for rapid and substantial cuts in US interest rates, given the robust state of the economy. Anticipation surrounds the Federal Reserve’s monetary policy decision later on Wednesday, influencing market sentiment and gold’s performance. …

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• 31 January 2024 1:44 pm

  European Stocks Extend Gains, Awaiting US Federal Reserve Decision

  

  European stocks continued their upward trajectory on Wednesday, marking the sixth consecutive session of gains. The financial sector played a pivotal role in supporting the positive momentum as traders eagerly awaited the US Federal Reserve’s monetary policy decision later in the day. Market Performance: As of 0822 GMT, the European …

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• 31 January 2024 1:13 pm

  Japan’s Nikkei closed higher recorded its best performance since 1998

  

  Japan’s Nikkei index has concluded January 2024 with its most robust performance since 1998, showcasing resilience in the face of early declines led by chip company stocks. Overcoming initial setbacks, the index rebounded, securing its place as the best-performing market globally for the month. Market Recovery and Impressive Gains:The Nikkei …

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