Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 5 January 2024 9:52 pm

  GBP/USD records fresh 2024 high following NFP data

  

  The Pound Sterling surged against the dollar following the US Nonfarm Payroll data release, which added 216K new jobs in December. Despite revisions to key datasets, markets surged on the NFP forecast-beater, pushing the US Dollar broadly lower and sending the Pound Sterling to a new 2024 high. US Average …

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• 5 January 2024 8:43 pm

  How has US dollar reacted to NFP data?

  

  The Dollar Index is currently trading just above 102.00, showing a downtick of 0.30% due to the markets adjusting dovish bets post the release of December’s Nonfarm Payrolls (NFP) and the ISM PMIs. Earlier on Friday, the dollar experienced a strong reaction to the recent NFP report in the United …

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• 5 January 2024 7:29 pm

  Yellen: Current situation points to a soft landing

  

  According to US Treasury Secretary Yellen, she stated that the pessimism regarding the economy had been proven unwarranted.Yellen noted that certain surveys were starting to indicate increased optimism among Americans.Yellen described the current situation as a “soft landing”, indicating that there was no substantial impact on energy prices from the …

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• 5 January 2024 2:52 pm

  European stocks approach first weekly loss in 8 weeks

  

  European stocks experienced a downturn on Friday amidst a broader market contraction, marking a potential shift towards the first weekly loss in eight weeks. Investors remained on the edge, anticipating key inflation data from the euro zone and eagerly awaited US jobs data, which holds the promise of providing clarity …

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• 5 January 2024 12:05 pm

  US Dollar is heading for its best weekly performance since July

  

  The dollar exhibited a robust performance on Friday, poised to conclude the week with its most significant gain since July. This surge is attributed to diminishing expectations of an imminent and substantial cut in interest rates for the year, a sentiment prevailing in the market ahead of the eagerly anticipated …

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• 5 January 2024 11:16 am

  Gold is heading for its first weekly decline in a month

  

  Gold is poised to register its first weekly decline in a month on Friday, succumbing to the strengthening dollar fueled by diminishing expectations of an imminent interest rate cut in the United States. Investors are eagerly anticipating a pivotal employment report scheduled for later in the day, hoping for additional …

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• 5 January 2024 10:40 am

  Oil rises after Fed

  

  Oil prices rose on Friday after Federal Reserve meeting minutes indicated that inflation was under control as US Secretary of State Antony Blinken prepared for a tour of the Middle East to prevent escalation in the conflict between Israel and Gaza. By 0229 GMT, Brent crude futures rose 37 cents, …

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• 5 January 2024 4:19 am

  Market Drivers – US Session, January 4, 2024

  

  After a solid start to the new trading year, the dollar has declined. During Asian trading hours, investors are predicted to maintain their vigilance, paying particular attention to the Consumer Confidence index and the final Services PMI in Japan. Ahead of the US Nonfarm Payrolls for December, caution is anticipated …

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• 5 January 2024 2:58 am

  Bitcoin advances after initially impacted by FOMC minutes

  

  Bitcoin has recovered from its recent decline earlier in the week, trading 4.02% higher over the past 24 hours and peaked to $44790, but at the time of writing, Bitcoin is trading at $44333 up by 3.45%.Analysts attribute this to uncertainty from the Fed on the pace of rate cuts …

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• 5 January 2024 12:53 am

  Dow surges as Wall Street tries to scatter early year market debility

  

  As investors sought to bounce back from a weak start to the year, the Dow Jones Industrial Average saw better trading on Thursday. The 30-stock index gained 137 points, or 0.4%, to make up for the nearly 300 points it had lost the previous day. S&P 500 increased by 0.1%. …

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• 4 January 2024 11:40 pm

  NFP Preview, Potential Price Reaction

  

  It is anticipated that the December NFP report will reveal a higher-than-anticipated number, with headline employment growth possibly falling between 170K and 225K. Economists and traders anticipate that the US added 168K net new jobs in the report, while average hourly wages increased by 0.3% m/m (3.9% y/y) and the …

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• 4 January 2024 10:41 pm

  Oil settles lower in choppy US session

  

  Oil prices have dropped due to massive weekly gasoline and distillate stock builds, which overshadowed a larger-than-expected crude stock draw. Brent crude settled down 66 cents, or 0.8%, to $77.59 during the session, while US West Texas Intermediate crude futures settled down 51 cents, or 0.7%, to $72.19. Low fuel …

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• 4 January 2024 9:55 pm

  EUR/USD steadies after Eurozone PMIs, US labour data

  

  The EUR/USD pair surges by half a percent on Thursday, reaching 1.0970 before settling into the 1.0960 neighborhood as markets digest data from both sides of the Pacific. The Eurozone’s HCOB Composite Purchasing Managers’ Index (PMI) beat expectations early Thursday, printing at 47.6 for December versus the median market forecast …

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