Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 2 April 2024 5:08 am

  Market Drivers; US Session, April 1

  

  With some major markets closed on Easter Monday, the US dollar is the clear winner as of late Monday. As the day began, most attention was on growth-related data, with China releasing positive manufacturing production data for March. Still, the news was insufficient to keep investors upbeat.The news on Friday …

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• 2 April 2024 3:41 am

  Will Consumer Spending Likely Stop Fed’s Rate Cuts?

  

  Federal Reserve’s officials and policymakers are surely thinking about cutting interest rates, but one important question is yet unanswered: how will consumer spending patterns affect this choice? Generally speaking; higher interest rates would cause consumers and corporations to reduce their expenditure. Stock prices will retreat as a result, and earnings …

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• 2 April 2024 2:50 am

  RBA’s Kent: No change to current rundown of balance sheet

  

  Assistant Governor Christopher Kent of the Reserve Bank of Australia stated on Monday that retaining bonds till maturity has no effect on the present balance sheet breakdown. At the time of writing, the AUD/USD pair is trading at 0.6490, up 0.02% on the day.Key Quotes“The outlook for inflation and monetary …

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• 2 April 2024 1:33 am

  US stocks close mixed, yields rise to start second quarter trading

  

  The second quarter of 2024 began with mixed closing results for US stocks, with the Dow Jones Industrial Average down 0.6% and the S&P 500 down 0.2%. Although it was off its early session highs, the tech-heavy Nasdaq Composite ended the day marginally higher. As the benchmark 10-year Treasury yield …

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• 2 April 2024 12:04 am

  Gold trades higher despite robust US manufacturing data

  

  The market is supported by optimistic reports on US manufacturing growth in the United States, however, the price of gold slightly rises. The attraction of non-yielding gold is called into question by the increase in US Treasury yields that followed upbeat news from the ISM and S&P Global.Gold’s rising trajectory …

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• 1 April 2024 10:43 pm

  GBP/USD Falls Following US Manufacturing Data

  

  Strong US manufacturing activity and pricing pressures have caused the GBP/USD to decline, which may feed concerns of a sustained Fed policy. Due to holiday closures, the US economy is resilient while European markets are quiet. The GBP/USD exchange rate may be weighed down by upcoming UK PMI data releases, …

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• 1 April 2024 9:25 pm

  Bitcoin miners’ earnings hit a record $2 billion before halving event

  

  Bitcoin miners have reached a record $2 billion in earnings ahead of the halving event, with earnings reaching a high of $2.01 billion from rewards and transfer fees. This marks the highest revenue in the last year and the highest record month for miner income in the network’s lifetime. The …

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• 1 April 2024 7:11 pm

  Canadian dollar loses momentum on stronger US counterpart

  

  Strong US macroeconomic data has been supporting the US dollar, which has caused the Canadian currency (CAD) to lose ground. The Canadian dollar is under pressure as a result of the S&P Manufacturing PMI in Canada failing to sustain the loonie and the oil price stalling close to year-to-date highs. …

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• 1 April 2024 6:14 pm

  Gold Reaches All-Time High as US Data Revives Expectations of June Rate Cut

  

  Gold prices continued to surge to unprecedented highs on Monday following the release of data indicating a slowdown in the pace of inflation in the United States. This development reinforced expectations that the Federal Reserve could implement its first interest rate cut in June, as lower interest rates diminish the …

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• 1 April 2024 5:16 pm

  Oil Approaches Five-Month Highs Amid Anticipated Decrease in Supplies

  

  On Monday, oil prices stabilized near their highest levels in five months, buoyed by various factors including expectations of declining supplies due to OPEC+ production cuts, attacks on Russian refineries, and robust data from the Chinese manufacturing sector indicating improved demand. As of 1115 GMT, Brent crude prices dipped by …

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• 1 April 2024 3:24 pm

  Turkish stocks rise and the lira declines after the election results

  

  On Monday, Turkish stocks experienced a notable increase while the lira saw a slight decline after reaching its lowest levels ever against the dollar following the opposition’s significant victory over President Recep Tayyip Erdogan’s Justice and Development Party (AKP) in local elections. Analysts attributed the AKP’s electoral setback to factors …

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• 1 April 2024 1:08 pm

  Dollar is stable as bets increase on interest rate cuts in June

  

  The dollar was broadly stable on Monday as data showing declining inflation in the United States reinforced bets that the US central bank may cut interest rates in June, while the yen fluctuated near the 152 level to the dollar, which reinforced traders’ concerns about possible government intervention. The US …

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• 1 April 2024 12:05 pm

  Japan’s Nikkei index closes at a two-week low as a new fiscal year begins

  

  On Monday, Japan’s Nikkei index experienced a notable downturn, closing at its lowest level in two weeks, dipping below the 40,000-point mark. This decline was primarily attributed to traders opting to sell stocks to secure profits on the first day of the country’s new fiscal year. The Nikkei index recorded …

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