Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 3 January 2024 11:07 pm

  FOMC minutes cite “diminished” inflation risks, concern about “overly restrictive” policy

  

  US Federal Reserve officials appeared increasingly convinced at their meeting last month that inflation was coming under control, with “upside risks” diminished and growing concern about the damage that “overly restrictive” monetary policy might do to the economy, according to minutes of the central bank’s Dec. 12-13 policy meeting.As a …

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• 3 January 2024 10:28 pm

  Dollar Climbs Ahead Of FOMC Minutes

  

  The DXY Index is advancing with strong gains, recovering above the 20-day SMA, while US JOLTs Jobs Openings and ISM’s December Manufacturing PMI exceeded expectations. Dovish bets on the Fed have eased slightly, but remain high. The US Dollar Index has gained at 102.60, reclaiming the 20-day Simple Moving Average. …

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• 3 January 2024 9:32 pm

  GBP/USD weakening as investors focus on US data

  

  The GBP/USD pair has not recovered much after Tuesday’s steep drop, but it is currently trading around 1.2644. This week’s UK data is scarce as investors prioritize US labour and economic activity data. Leading the way is the US ISM Manufacturing Purchasing Managers’ Index, whose December PMI surpassed forecasts but …

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• 3 January 2024 8:41 pm

  January to witness deadline for the government shutdown

  

  A partial or total government shutdown could be brought on by two impending deadlines in early 2024, especially in light of the little progress made thus far. January 19 is the first deadline, while February 2 is the second. Since various government departments are impacted by these two midnight deadlines, …

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• 3 January 2024 7:24 pm

  JOLTS for November decline below forecast

  

  The number of job openings on the last business day of November stood at 8.79 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday. This reading followed 8.85 million (revised from 8.73 million) openings in October and came in …

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• 3 January 2024 6:13 pm

  European Shares Retreat to Three-Week Low Following Robust 2023 Performance

  

  On Wednesday, Europe’s benchmark stock index, the STOXX 600, dropped to a three-week low, testing the previous year’s market rally. The index was down 0.8% at 1310 GMT, having started the new year on a lackluster note the day before. Major European indexes in Germany, Italy, and France slid over …

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• 3 January 2024 6:11 pm

  US government debt exceeds $34 trillion for the first time in its history

  

  The total public debt of the United States has surpassed $34 trillion for the first time in history, according to the daily statement from the US Treasury Department. This announcement comes as Congress prepares for upcoming battles over federal funding. The total outstanding public debt reached $34.001 trillion, with the …

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• 3 January 2024 3:13 pm

  Gold prices rise as USD declines ahead of Fed

  

  Gold prices saw a slight increase on Wednesday, supported by a weaker dollar and the market’s anticipation of key data releases, including the Federal Reserve meeting minutes and the private sector jobs report in the United States. These releases are crucial for gaining insights into potential changes in interest rates. …

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• 3 January 2024 1:42 pm

  European stocks are stable as investors await indicators on monetary policy

  

  European stocks showed modest performance at the start of trading on Wednesday, with the momentum that drove the market higher at the end of the previous year starting to wane. Investors are eagerly awaiting key indicators that could shape global monetary policy. As of 08:10 GMT, the European STOXX 600 …

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• 3 January 2024 12:49 pm

  USD stabilizes as risk appetite declines

  

  The dollar experienced a slight decline on Wednesday, despite remaining near its highest level in two weeks. This was supported by factors such as rising US Treasury yields and caution in risk appetite, impacting Wall Street. Trading activity was relatively thin in Asia due to the holiday in Japan. The …

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• 3 January 2024 11:15 am

  Oil prices rise due to continued shipping tensions through the Red Sea

  

  Oil prices experienced a slight increase in early Asian trading on Wednesday, driven by ongoing concerns about shipping disruptions in the Red Sea and escalating tensions in the Middle East. As of 0004 GMT, Brent crude rose by 26 cents, or 0.4 percent, reaching $76.11 per barrel, while US West …

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• 3 January 2024 1:22 am

  Market Drivers – US Session, January 3, 2024

  

  On Tuesday, the US dollar emerged victorious overall, with a strong appreciation vs all of its main competitors. By the end of 2024, investors were back in the USD due to signals of slowing global growth. S&P Global published the Manufacturing PMIs for December for a number of significant economies, …

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• 3 January 2024 1:20 am

  WTI falls by 1% after briefly surging

  

  Earlier on the trading day, oil rose on the back of news reports about ship attacks near Yemen. However, economic data continues to soften. OPEC production unexpectedly increased, further pressuring WTI bids. News reports of ongoing attacks on cargo ships off the coast of Yemen sparked a brief rally in …

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