Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 19 February 2024 3:41 pm

  European Stocks Dip Amid Economic Concerns and Varied Corporate Performance

  

  On Monday, European stocks faced a downturn, with French equities particularly impacted following the government’s downward revision of its annual economic growth forecast. Meanwhile, individual company performances showcased a mix of outcomes, with Forvia’s optimistic forecasts contrasting Juventus’ widened net losses. STOXX 600 Index Edges Lower The European STOXX 600 …

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• 19 February 2024 1:31 pm

  China’s tourism revenues during the Lunar New Year holiday exceed the pre-pandemic level

  

  Official data has revealed a remarkable surge in tourism revenues in China during the Lunar New Year holiday, which concluded on Saturday, with a staggering year-on-year increase of 47.3 percent. This surge has not only surpassed 2019 levels but also underscored the robustness of domestic tourism amid an extended holiday …

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• 19 February 2024 1:29 pm

  Nikkei Slightly Lower but Near Record Highs Amid Chip Sector Pressure

  

  On Monday, Japan’s Nikkei average edged lower but maintained proximity to record highs, influenced by declines in chip-related stocks following losses in their US counterparts on Friday. The Nikkei index slipped by 0.04 percent, concluding the day at 38,470.38 points, after reaching 38,865.06 points on Friday. Notably, it remained a …

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• 19 February 2024 12:09 pm

  Dollar Maintains Stability Amidst Inflation Uncertaintiesd Rate Cut Persists

  

  In the wake of last week’s economic data revealing ongoing challenges in US inflation, the dollar steadied on Monday, reflecting cautious sentiment regarding the Federal Reserve’s potential monetary easing strategies. Despite market uncertainties, the yen remained weak, hovering in proximity to the significant threshold of 150 against the dollar. US …

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• 19 February 2024 11:04 am

  Oil Prices Dip Amidst Cautionary Tone from Federal Reserve Officials

  

  In early trading on Monday, oil prices retreated as markets digested comments from Federal Reserve officials signaling a cautious approach towards potential rate cuts. Furthermore, trading activity remained subdued due to the Presidents Day holiday observed in the United States. As of 0138 GMT, Brent crude futures declined by 58 …

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• 19 February 2024 11:03 am

  Gold Prices Inch Closer to Weekly Highs Amidst Geopolitical Tensions

  

  On Monday, gold prices rallied, edging closer to the highest levels seen in a week, buoyed by a slight retreat in the US dollar and escalating tensions in the Middle East, fostering demand for safe-haven assets. As of 0335 GMT, spot gold surged by 0.4 percent to $2,021.09 per ounce, …

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• 19 February 2024 7:37 am

  Weekly Financial Recap: US Data Dominates Market Sentiment

  

  In the pulse of the financial world, the spotlight of the past week fell squarely on key US economic indicators, particularly inflation data, igniting a flurry of activity and recalibration across markets. Inflation Insights Headline US inflation for January came in at 3.1%, a modest improvement that fell slightly short …

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• 17 February 2024 2:55 am

  USD/JPY holds above 150.00 ahead of the weekend

  

  The USD/JPY pair has risen to 150.16, driven by US inflation figures and a positive consumer outlook. Federal Reserve officials Bostic and Daly have expressed caution about rate cuts and urged patience before the Fed begins its easing cycle. The Producer Price Index report shows inflation in the US is …

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• 17 February 2024 1:19 am

  Gold touches three-day high amid inflation concerns

  

  Gold touched $2015 per ounce earlier on Friday, supported by the softer US dollar and rising US Treasury yields in the face of ongoing inflationary signals. The price of an ounce of the precious metal is $2012.51 at the time of writing.US PPI and Core PPI beat estimates, suggesting persistent …

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• 17 February 2024 12:50 am

  BoE’s Pill: Weak UK activity puts no significant pressure on inflation

  

  Bank of England Chief Economist and Monetary Policy Committee member Huw Pill gave talking points while participating in a panel discussion at the Annual National Association for Business Economics Economic Policy Conference, in Washington DC late Friday. Key Quotes UK labour market remains tight, driven by both weak supply and …

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• 17 February 2024 12:14 am

  GBP/USD surges on strong UK data despite mixed US data

  

  Amid evident US data volatility, the GBP/USD pair is rising on the strength of strong UK retail sales data that is above expectations. The US PPI increased more than predicted, pointing to continuous inflation; the UK’s sales boom indicates consumer optimism.A cautious stance on inflation by the Fed weakens the …

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• 16 February 2024 10:27 pm

  S&P 500 is trying for sixth-straight winning week

  

  US Stocks are little changed on Friday after another hot inflation report stoked fears that Federal Reserve rate cuts may not arrive until later than anticipated this year. The S&P 500 and Dow Jones Industrial Average teetered around the flatline, while the Nasdaq Composite slid 0.2%. The producer price index …

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• 16 February 2024 8:17 pm

  Fed’s Bostic: Expecting two rate cuts in 2024

  

  Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Friday that his outlook is for a reduction in policy rate in the summer time, per Reuters.The US Dollar Index showed no immediate reaction to these remarks and was last seen posting small daily gains at 104.33.Bostic noted that …

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