Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 13 April 2024 12:34 am

  Oil settles around $96 after rallying amid Middle East tensions

  

  WTI crude recovered above $86 earlier on Friday after fluctuating around that mark all week. Even though the EIA predicts a poor forecast for oil demand, oil prices have increased by almost 1%. The US Dollar Index rose 0.72% to 106.015, marking a new five-month high. WTI finished at $94.975 …

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• 12 April 2024 11:20 pm

  ECB sticks to independent dovish stance despite hotter US inflation

  

  Despite rising US inflation, the ECB maintains its independent dovish stance. ECB officials are reiterating their resolve to lower interest rates in June while downplaying worries about US inflation. This is the case even though the US Federal Reserve and the European Central Bank may have different monetary policies, as …

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• 12 April 2024 10:23 pm

  Canadian Dollar declines amid Fed easing expectations

  

  The Canadian dollar has experienced a 1.23% retreat this week, marking its worst weekly performance in almost a year. The US Dollar is rallying, driven by higher US yields and the reassessment of the timing and size of the US Fed’s easing cycle. The Michigan Consumer Sentiment Index deteriorated beyond …

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• 12 April 2024 8:49 pm

  Stock Indexes Retreat After Banking Earnings

  

  Earnings season began on Wall Street with a puzzle. Despite the fact that major banks like JPMorgan Chase and Wells Fargo had higher-than-expected profits, the market as a whole and their equities both fell on Friday. Investors appear uneasy due to JPMorgan’s cautious outlook for the remainder of the year …

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• 12 April 2024 7:51 pm

  Gold price heads to fresh lifetime high amid Middle East crisis

  

  Gold price continues to scale new record highs amid persistent geopolitical tensions. The strong move up seems unaffected by reduced Fed rate cut bets and bullish US dollar. Extremely overbought conditions might prompt some profit-taking around the precious metal. At the time of writing, gold is trading at $2093.70 per …

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• 12 April 2024 6:50 pm

  Following dismal US data, USD/JPY falls as investors take profits

  

  The University of Michigan’s Consumer Sentiment Index has slipped to 77.9, indicating a weakening in US consumer confidence. However, the US Dollar is expected to consolidate weekly gains following hot inflation data. The Consumer Sentiment Index slipped to 77.9 from 79.4 in March, below the market expectation of 79. The …

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• 12 April 2024 3:08 pm

  High safe-haven demand fuels gold’s unprecedented gains

  

  Gold prices surged on Friday, reaching an unprecedented peak and poised to mark weekly gains for the fourth consecutive week, driven by geopolitical tensions and economic concerns surrounding China, which spurred strong demand for the safe-haven asset. As of 0934 GMT, spot gold prices rose by 0.9 percent to $2,394.87 …

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• 12 April 2024 1:24 pm

  Blue chips support European stocks amid interest rate cut hopes

  

  European stocks opened higher on Friday, buoyed by gains in blue-chip stocks, while investor sentiment remained positive following hints from the European Central Bank (ECB) indicating a potential interest rate cut in June. The European STOXX 600 index surged 0.9 percent, poised to achieve a weekly gain of 0.4 percent, …

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• 12 April 2024 12:37 pm

  Inflation in Germany falls to its lowest level in about 3 years

  

  Final data from Germany’s Federal Statistics Office showed on Friday that inflation eased in March thanks to a decline in energy and food prices. Inflation in Europe’s largest economy recorded 2.3 percent, the lowest level since June 2021. Consumer prices, harmonized to facilitate comparison with other countries in the European …

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• 12 April 2024 11:31 am

  Gold Approaches Unprecedented Highs and Aims for Fourth Straight Weekly Advance

  

  On Friday, gold prices surged to unprecedented heights, buoyed by central bank acquisitions amid geopolitical tensions. Despite robust American economic indicators failing to temper demand, the spot price of gold climbed 0.5 percent to $2,384.34 per ounce by 0345 GMT, reaching a peak of $2,395.29 earlier in the session. US …

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• 12 April 2024 10:33 am

  Oil Rises Amid Heightened Tensions in the Middle East, Despite Heading for Weekly Loss

  

  Oil prices rebounded on Friday, buoyed by escalating tensions in the Middle East, which raised concerns about potential supply disruptions from the oil-producing region. However, despite the uptick, prices are on track for a weekly loss amid expectations of fewer interest rate cuts in the United States this year. As …

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• 12 April 2024 4:29 am

  Market Drivers; US Session, April 11

  

  Risk-linked assets regained some momentum amid a mild corrective decline in the US Dollar and rising speculation of a Fed rate cut later in 2024. In the meantime, the ECB left rates unchanged as expected and opened the door to a rate cut in June.Economic DataBased on annualized data released …

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• 12 April 2024 4:19 am

  IMF managing director: Fed should be able to cut rates by end 2024

  

  The Federal Reserve (Fed) should be able to start cutting interest rates by the end of 2024, according to Kristalina Georgieva, managing director of the International Monetary Fund.At the press time, the US Dollar Index (DXY) was down 0.01% on the day to trade at 105.27.Key Quotes“We remain on our …

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