Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 24 February 2024 1:55 am

  Surging risk appetite triggered US dollar’s recent weekly decline

  

  The US dollar closed the week’s trading with a -0.30% decline, attributed to a surge in risk appetite. Treasury yields rose amid the Federal Reserve’s cautious approach to rate cuts and inflation data. The dollar’s strength is attributed to persistent inflation concerns, despite global market trends. The US Dollar Index …

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• 23 February 2024 11:43 pm

  Gold records winning week amid positive market sentiment

  

  Gold price surged on Friday, driven by retreating Treasury yields and a prevalent optimistic market sentiment. The risk-on pulse also prevailed, and gold attracted investors, defying typical safe-haven asset trends. Gold price resumed its weekly uptrend and finished the week in the green territory with 1.11% gains, taking advantage of …

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• 23 February 2024 9:20 pm

  The US dollar declines below 104.00 as interest in PCE grows

  

  The DXY exhibits mild daily gains in Friday’s North American session. The Federal Reserve’s measured approach alongside a robust labour market continue to diminish expectations of rate cuts. The market expects no chance for a March rate cut and less than a 25% chance of a cut in May. Investors …

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• 23 February 2024 8:33 pm

  Fed speakers continue to dash Wall Street hopes of rate cut

  

  A number of Federal Reserve policymakers have cautioned against reducing US interest rates excessively or prematurely in light of January’s unexpectedly high inflation. They essentially confirmed the minutes from the Federal Reserve’s most recent meeting in January, which revealed that the majority of central bank officials were apprehensive about the …

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• 23 February 2024 7:53 pm

  EUR/USD marginally lower following mixed German data

  

  The EUR/USD pair is trading at 1.0817, down 0.05% from the previous day’s gains against the dollar. The Eurozone’s largest economy contracted by 0.3% in Q4 2023, while business sentiment improved. The US economic calendar is absent, but recent unemployment claims figures and S&P Global Flash PMIs justify Fed officials’ …

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• 23 February 2024 3:45 pm

  European Stocks Open Higher as Standard Chartered and BASF Results Drive Gains

  

  : European Markets Await ECB Guidance Amidst Positive Corporate Results European stocks opened on a positive note on Friday, buoyed by robust earnings reports from companies such as Standard Chartered and BASF. However, traders exercised caution ahead of statements from policymakers at the European Central Bank (ECB), including President Christine …

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• 23 February 2024 3:44 pm

  Dollar Poised for First Weekly Decline in 2024

  

  Currency Markets Reflect Changing Sentiment Currency markets experienced notable shifts this week, with the dollar poised to record its first weekly decline in 2024. Investor sentiment recalibrated following diminished expectations of imminent interest rate cuts by the Federal Reserve, fueling a rebound in the US currency. Meanwhile, the yen faced …

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• 23 February 2024 1:27 pm

  Yen Plummets Against Major Currencies as Investors Seek Higher Returns Elsewhere

  

  Introduction: Yen’s Downward Spiral This week witnessed a continued decline in the value of the yen against key currencies such as the euro, pound sterling, and the US dollar. Investors, eager for better returns outside Japan’s near-zero interest rate environment, drove the yen to new lows, marking its fourth consecutive …

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• 23 February 2024 11:51 am

  Oil Prices Retreat as Fed Official Delays Rate Cut Plans

  

  Oil Market Reacts to Federal Reserve Commentary Oil prices retreated on Friday following remarks from a Federal Reserve official suggesting a delay in interest rate cuts for at least two additional months. The market responded swiftly to the news, recalibrating expectations amidst evolving monetary policy dynamics. Market Movements: Tracking Brent …

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• 23 February 2024 11:50 am

  Gold Prices Rally Amid Dollar Weakness and Geopolitical Tensions

  

  Gold prices surged on Friday, poised to clinch their first weekly gain in three weeks. A confluence of factors, including a weakened dollar and escalating tensions in the Middle East, fueled investor appetite for the precious metal. Market Dynamics: Tracking the Numbers At 0411 GMT, gold prices in spot transactions …

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• 22 February 2024 10:15 pm

  USD/CAD swings following US key data, Canadian retail sales

  

  The USD/CAD exchange rate saw volatility on Thursday due to mixed US PMI data and Canada’s retail sales statistics. The pair moved towards the lower end of the range early on Thursday as investors prepared for the US Purchasing Managers Index (PMI) data of the day. The pair is trading …

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• 22 February 2024 9:31 pm

  Nasdaq boosted following Nvidia’s earnings

  

  As Nvidia’s stock surged to an all-time high, the S&P 500 approached a new high and global stock rallies gained momentum.The chip manufacturer, propelled by the surge in demand for AI systems, announced another quarter of record-breaking performance. During afternoon trade, Nvidia’s shares increased by 15%. As a result, the …

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• 22 February 2024 8:15 pm

  US S&P Global Manufacturing PMI for February improves

  

  The US S&P Global Composite PMI fell from 52 in January to 51.4 in February’s flash estimate, indicating that the private sector’s business activity in the US is still growing, but more slowly than it was in January.During the same time period, the S&P Global Manufacturing PMI increased to 51.5 …

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