Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 20 January 2024 1:33 am

  Despite weekly gains, oil slightly lower on China demand concerns

  

  Despite a minor decline on Friday, oil prices saw a weekly increase as Middle East tensions and interruptions to oil production outweighed worries about the Chinese and worldwide economies. A barrel of Brent futures ended the day 54 cents lower at $78.56. West Texas Intermediate oil dropped 67 cents to …

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• 20 January 2024 1:07 am

  Fed’s Daly: Changes in the labour market may lead to changes in policy

  

  In an interview with Fox Business on Friday, Mary C. Daly, President of the San Francisco Fed discussed the Fed’s policy outlook. The San Francisco Fed President since 2018, Mary C. Daly will be rotating from an Alternate Member voting seat to a full Member for the 2024 Fed chair …

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• 19 January 2024 11:31 pm

  Euro surges on positive market sentiment

  

  Despite the ECB blackout, the Euro saw some minor gains. The final trading day saw a recovery in market sentiment as most markets were concentrating on news from the World Economic Forum in Davos. ECB President Christine Lagarde has made great efforts to avoid discussing monetary policy during her scheduled …

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• 19 January 2024 10:06 pm

  European stocks close slightly lower ahead of Davos conclusion

  

  European stock markets closed slightly lower Friday, erasing gains through the morning and previous session. The German DAX closed mostly flat on Friday, down a scant 0.07% and declining 12 points to close at €16,555.13. France’s CAC 40 declined nearly 40 points to close down 0.4% at €7,371.64. The pan-European …

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• 19 January 2024 8:46 pm

  Strong Europe Only Way to Stand Trump’s Return – Lagarde

  

  European Central Bank President Christine Lagarde has emphasized the importance of Europe’s strong domestic market and single market to counter potential Trump’s return to the White House. She stated that the best defense against Trump’s return is an attack, which would require a deep, single market. The reelection of US …

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• 19 January 2024 8:03 pm

  The US dollar trades at small loss following mixed Michigan print

  

  Before the first Fed meeting in two weeks, the US dollar is trading at a slight loss in a fragmented market, leaving traders in the dark. The Dollar Index opened on Friday below significant resistance after closing above it on Thursday. Since volatility increased earlier this week, the dollar has …

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• 19 January 2024 7:07 pm

  US Consumer Sentiment soars, price outlook hits three-year low

  

  The University of Michigan sentiment index shot up to 78.8 in early January, but short-term inflation views dropped to 2.9%. US consumer sentiment jumps, and price outlook hits three-year low.Over the coming year, consumers anticipate price increases at an annual pace of 2.9%, down from 3.1% predicted one month earlier.Early …

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• 19 January 2024 4:26 pm

  Gold is heading for its worst performance in six weeks

  

  Gold prices rose on Friday, but were on track to record their worst week in six weeks. This decline coincided with the rise of the dollar and bond yields, following US central bank officials’ statements that dashed expectations of an early interest rate cut. As of 07:43 GMT, gold in …

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• 19 January 2024 3:26 pm

  British retail sales fall to their lowest levels since May 2020

  

  Official data from the Office for National Statistics revealed that British retail sales suffered their most significant decline in almost three years in December. This raises concerns about the possibility of the economy entering a recession towards the end of last year. The report indicated that early Christmas preparations, particularly …

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• 19 January 2024 1:49 pm

  European stocks open higher driven by financial sector gains

  

  European stocks opened higher on Friday, supported by gains in financial stocks, though the main index was on track for a weekly decline after investors tempered their expectations for an interest rate cut following recent comments from policymakers. As of 0818 GMT, the European STOXX 600 index was up by …

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• 19 January 2024 1:18 pm

  USD is heading for gains for the second week

  

  The dollar is on track for its second consecutive weekly gain, driven by indications of the robustness of the US economy. The cautionary stance of central bank officials regarding an immediate interest rate cut has tempered traders’ expectations for a swift and substantial reduction. Both the Australian dollar and New …

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• 19 January 2024 12:15 pm

  Core inflation in Japan at a 41-year high

  

  Japan’s core Consumer Price Index (CPI) surged by 3.1% last year, marking its highest level since 1982. Data released by the Ministry of Internal Affairs and Communications on Friday, January 19, revealed that the consumer price index, excluding fresh food items, witnessed a 2.3% year-on-year increase in December. This was …

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• 19 January 2024 12:00 pm

  Oil prices fell due to concerns about Chinese demand

  

  Oil prices experienced a decline on Friday following a recent uptick. Geopolitical tensions and disruptions in US oil production due to a cold snap were counteracted by concerns over slowing demand growth in China and expectations of increased supply. As of 0420 GMT, Brent crude futures dropped by 23 cents, …

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