Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 29 January 2024 12:30 pm

  Evergrande: Crisis-hit Chinese property giant ordered to liquidate

  

  On Monday, a Hong Kong court ordered the liquidation of China Evergrande Group, the world’s most indebted property developer with over $300 billion in total liabilities. This decision comes after Evergrande failed to provide a concrete restructuring plan more than two years after defaulting on a bond repayment. The liquidation …

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• 29 January 2024 11:17 am

  Oil prices rise after an attack on an American base on the Jordanian-Syrian border

  

  Oil prices experienced an uptick following a drone attack on the American Al-Tanf military base situated on the Jordanian-Syrian border, resulting in the deaths of three American soldiers. President Joe Biden pledged retaliation in response to the incident. Brent crude rose by 0.57% to reach $84.03 per barrel, while the …

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• 29 January 2024 4:33 am

  Weekly Recap: Investors Await Fed, Tech Giants Earning Reports

  

  Last week’s trading closed in favour of global stocks and the US dollar at the expense of gold, amid data-based support to the idea that it is possible for the Fed to achieve the “soft landing” scenario, which was evident through US economic data that the economic calendar carried to …

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• 27 January 2024 12:01 am

  Oil heading to weekly gains on strong economic outlook

  

  Oil prices edged slightly higher in choppy trading on Friday, heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand expectations, while Middle East supply concerns added further support.At the time of writing, Brent crude futures are up $1.19, or 1.49%, at …

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• 26 January 2024 11:42 pm

  US stocks dragged lower as investors digest optimistic inflation data

  

  As investors ignored Intel’s bleak outlook and considered a crucial inflation number that was thought to have an impact on when interest rates will be slashed, stocks fluctuated on Friday afternoon.Despite closing at a new high on Thursday, the S&P 500 lost 0.1%, even if it is expected to finish …

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• 26 January 2024 10:54 pm

  Bitcoin gains above 5.5% ahead of key trading week

  

  While cryptocurrencies, like Bitcoin, saw a slight increase on Friday, they continued to trade at relatively low levels ahead of the weekend. A significant event for the stock market that may also affect cryptocurrencies will unfold next week.After swinging back and forth in recent days between the psychologically significant $40,000 …

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• 26 January 2024 10:25 pm

  US Dollar experiences loss following PCE data

  

  The US Dollar Index (DXY) is experiencing losses due to weak Personal Consumption Expenditures data from December, which gave hope for earlier rate cuts. Market expectations suggest a possible Fed rate cut in March, but if economic growth sustains itself, a March cut seems unlikely. As a result, bets have …

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• 26 January 2024 9:08 pm

  Does PCE data make Fed’s job easier or harder?

  

  The Fed’s favourite inflation gauge; Core Personal Consumption Expenditures Price Index has fallen below 3% for the first time since March 2021, indicating that US inflation is cooling. The three-month and six-month charts of the core PCE show they are below the Fed’s target of 2%. This suggests the Fed …

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• 26 January 2024 7:51 pm

  EUR/USD rises on fueled speculation about a Fed rate cut following PCE data

  

  In North American trading, the EUR/USD pair rises as a result of weaker US core PCE inflation statistics. As the Fed’s core PCE index drops to 2.9%, expectations of an interest rate reduction rise, supporting the rise in EUR/USD.Early in the North American session, the EUR/USD increased by about 0.14% …

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• 26 January 2024 5:27 pm

  Gold is heading for its second consecutive weekly decline

  

  Gold prices rose during trading today, Friday, the twenty-sixth of January, but they are heading towards recording the second weekly losses in a row, amid the rise of the dollar supported by positive economic data. The US economy grew more than expected during the last quarter of 2023, by about …

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• 26 January 2024 2:56 pm

  European stocks open higher supported by quarterly results

  

  European markets opened higher on Friday, bolstered by positive quarterly results from luxury goods group LVMH and French liquor company Remy Cointreau. Traders were also evaluating the prospects of interest rate adjustments, a day after the European Central Bank (ECB) maintained its existing interest rates. As of 0819 GMT, the …

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• 26 January 2024 12:56 pm

  Oil prices are heading for weekly gains supported by US growth data

  

  Oil prices retreated on Friday, but they were poised to register their most significant weekly gains since October, buoyed by positive economic data from the United States and signals of Chinese stimulus that supported oil demand. Brent crude futures declined by 0.57%, or 47 cents, settling at $81.96 per barrel …

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• 26 January 2024 11:54 am

  Japan’s Nikkei declines, erasing week’s gains amid chip sector losses

  

  On Friday, Japan’s Nikkei index closed lower, reversing the gains it had accumulated earlier in the week. The index lost 1.34%, closing at 35,751.07 points, marking a 0.59% decline for the week and breaking a two-week streak of gains. At the start of the day, the index had shown a …

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