Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 21 February 2024 2:44 pm

  European stocks decline under the weight of disappointing business results

  

  European stocks experienced a downturn on Wednesday, primarily influenced by a drop in banking stocks following disappointing business results from HSBC. Investors also awaited data on consumer sentiment in the euro zone, further contributing to market uncertainty. Banking Sector Leads Decline:The banking services sector witnessed a notable 1 percent decline, …

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• 21 February 2024 1:26 pm

  Dollar Declines Amidst Global Treasury Bond Yield Drop Rate Cut Persists

  

  The dollar experienced a broad decline on Wednesday, influenced by a global downturn in Treasury bond yields. Traders eagerly awaited the release of the Federal Reserve’s latest policy meeting minutes, seeking insights into the central bank’s stance on interest rates. Yen Strengthens as Dollar Dips Below 150:In Asian trading, the …

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• 21 February 2024 12:25 pm

  Japan’s Nikkei ends a rising wave as markets worry ahead of Nvidia’s earnings release

  

  Investor anticipation gripped the Tokyo Stock Exchange’s Nikkei index for the second consecutive day as it failed to surpass its all-time high. With market sentiment swaying on the impending financial report from US chip giant NVIDIA, the index struggled to maintain momentum amidst global uncertainties. Market Movement:Despite an initial rebound, …

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• 21 February 2024 11:08 am

  Oil rises amid Red Sea attacks and weak US interest rate cut expectations

  

  Oil prices regained some of their gains in early Asian trading on Wednesday, as investors balanced fears of major producers reducing production and attacks on cargo ships in the Red Sea with weak expectations for a cut in US interest rates. Brent crude futures rose 12 cents, or 0.15 percent, …

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• 21 February 2024 5:00 am

  Market Drivers – US Session, February 20

  

  The US Dollar has weakened amid speculation that the Federal Reserve will delay the first rate cut. The odds for a 25 basis points (bps) March rate cut have decreased to 34.4%, while June ones have increased to 55.1%. Stock markets are tepid, with Wall Street spending most of the …

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• 21 February 2024 3:33 am

  EUR/USD climbs ahead of FOMC minutes, Eurozone PMIs

  

  Early on Tuesday, the EUR/USD pair moved above 1.0800 and tested the 1.0840 zone. A widespread sell-off of US dollars supports the Euro. Markets are awaiting EU PMIs and Fed meeting minutes.Tuesday saw the EUR/USD pair reach a two-week high just shy of 1.0840 as the dollar widely declined. However, …

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• 21 February 2024 2:14 am

  USD/CAD bounces after Canadian CPI data

  

  The USD/CAD pair experienced early declines before rebounding into an intraday high of 1.3530 after Canadian Consumer Price Index (CPI) inflation fell faster than expected. This softened the Canadian Dollar (CAD) across the board. Markets will focus on the Federal Reserve (Fed) and the Federal Open Market Committee (FOMC) as …

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• 21 February 2024 1:04 am

  WTI crude oil settles lower amid global demand concerns

  

  With worries about global demand outweighing price support from the Israel-Hamas conflict, oil prices settled down on Tuesday. While US West Texas Intermediate (WTI) crude for March delivery finished down $1.01, or 1.3%, at $78.18 a barrel, Brent futures settled down $1.22, or 1.5%, to $82.34 a barrel. At $77.04 …

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• 20 February 2024 11:37 pm

  S&P 500, Nasdaq decline as Nvidia leads tech retreat

  

  On Tuesday, stocks experienced a decline as Nvidia led a broader tech decline ahead of the chipmaker’s earnings report. The Dow Jones Industrial Average dipped 107 points, or less than 0.9%, while the S&P 500 slipped 0.8%. The tech-heavy Nasdaq Composite lost 1.4%. Shares of Nvidia fell about 6%, and …

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• 20 February 2024 10:57 pm

  US dollar weakens after Presidents’ Day, ahead of FOMC minutes

  

  The US Dollar Index, DXY, weakens as the US returns from holiday, trading modestly lower. No relevant reports were released during the session, while markets await fresh catalysts. All eyes are now on FOMC minutes from January’s Federal Reserve meeting on Wednesday.The dollar is trading in the red territory, modestly …

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• 20 February 2024 10:10 pm

  FOMC minutes awaited for clues on inflation battle, growth

  

  The Fed’s recent rate decision meeting minutes are expected to highlight the complex economic challenges the US central bank faces, as it aims to balance inflation control with economic growth. Markets are realigning expectations to the Fed’s gradual rate cut plan, illustrating the complex economic environment investors and market participants …

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• 20 February 2024 9:24 pm

  AUD/USD retreats following RBA-fueled rally

  

  The Australian dollar rose after the Reserve Bank of Australia (RBA) considered rate cuts. The RBA held rates steady, but investors will be watching the Federal Open Market Committee’s latest Meeting Minutes on Wednesday to determine the US Fed’s proximity to cutting interest rates.The RBA’s internal dialogue appears to lean …

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• 20 February 2024 8:27 pm

  Gold price surges as Fed sees inflation declining in long term

  

  Gold is up +0.58%, trading $2029.70 per ounce at the time of writing. The belief among Fed policymakers that inflation will eventually decline has helped to drive up the price of gold by decreasing the opportunity cost of storing non-yielding assets like gold. It is anticipated that the preliminary S&P …

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