Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 16 April 2024 12:46 pm

  UK Wage Growth Eases as Bank of England Contemplates Rate Cuts

  

  British core wage growth decelerated once again, marking its slowest increase since the three months leading up to September 2022, yet it maintained strength relative to historical norms, as per official data likely to receive a cautious nod from the Bank of England. Official figures from the Office for National …

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• 16 April 2024 12:04 pm

  Dollar Ascends to Five-Month Peak

  

  The dollar surged to a five-month peak against major currencies on Tuesday, driven by stronger-than-anticipated U.S. retail sales figures, igniting concerns over potential intervention from Tokyo as the yen dwindled to its lowest level since 1990. Despite China’s first-quarter GDP data surpassing expectations, the Chinese yuan slightly declined, reflecting ongoing …

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• 16 April 2024 11:35 am

  Oil prices rise on China growth, Middle East tensions

  

  Oil prices experienced a rise on Tuesday, buoyed by stronger-than-expected economic growth in China and escalating tensions in the Middle East following Iran’s recent missile and drone attack on Israel. Brent futures for June delivery advanced by 20 cents, or 0.2%, reaching $90.30 a barrel, while U.S. crude futures for …

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• 16 April 2024 10:45 am

  Asian stocks tumble on US rate jitters, China GDP helps soothe losses

  

  Asian stocks experienced significant declines on Tuesday, mirroring the sell-off on Wall Street amid ongoing concerns about geopolitical tensions in the Middle East and the prospect of prolonged higher interest rates in the United States. Despite the general downturn, Chinese equities fared relatively better following the release of GDP data …

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• 16 April 2024 3:18 am

  Market Drivers; US Session, April 15

  

  Amidst rising Treasury yields, the US dollar’s upward momentum persisted, pushing it to new annual highs around 106.20. This week seems to be dominated by escalating geopolitical concerns, especially in the Middle East. Indicated by the USD Index (DXY), the US dollar held its bullish tilt and surged to new …

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• 16 April 2024 1:58 am

  Where would oil price be heading amid Middle East tensions?

  

  Although oil prices have declined then afterwards managed to recover on Monday, geopolitical tensions might cause them to surge again, which would have repercussions in this year of significant elections. Traders are waiting for Israel to react to Iran’s recent direct attack, therefore they are on high alert. After falling …

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• 16 April 2024 12:39 am

  US Dollar Finds Momentum After Retail Sales Data

  

  The US Dollar Index (DXY), which peaked last week at 106.10, surged 0.16% to currently trade a little above at 106.182 at the time of writing. The Fed’s hawkish language is still supported by strong economic data, and rising US Treasury yields help the greenback. The US Dollar tends to …

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• 15 April 2024 11:55 pm

  Where Would Bitcoin Be heading Next After Looming Halving?

  

  Bitcoin, the most famous cryptocurrency with over $1.4 trillion in value, is to undergo a major upgrade known as the halving event. This is planned to take place within less than one week. This halving, which has historically triggered a massive surge in Bitcoin’s price, this is mainly because of …

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• 15 April 2024 10:57 pm

  Dow Jones declines on geopolitical tensions, higher T-yields

  

  Concerns about Middle Eastern geopolitical tensions have been coupled with high yields, which have caused further decline in the Dow Jones Index. In the early afternoon, the index is trading little higher after losing its early gains. The market’s appetite for risk has increased following to Goldman Sachs’ better-than-expected quarterly …

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• 15 April 2024 9:24 pm

  Sterling recovery stalls following strong US data

  

  The UK Pound has not yet recovered, and its previous attempts at rising above the 1.2500 mark stalled earlier on Monday. The pair has given in to the widespread strength of the US Dollar following the announcement of positive US retail sales data, and is currently trading at 1.2456, up …

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• 15 April 2024 8:02 pm

  USD/JPY rises on robust US economic data

  

  Due to risk aversion brought on by Middle East tensions and solid US economic data, the USD/JPY pair has reached a 34-year high. US Treasury rates rose as a result of March’s strong US retail sales, which demonstrated consumer strength. Japanese officials are nonetheless cautious about the currency’s rapid advancement, …

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• 15 April 2024 7:07 pm

  Gold Retreats Following US Retail Sales Data

  

  Gold price retreats from the daily highs near $2,371 as investors do not see Middle East tensions escalating further. US bond yields soar as the Fed seems to initiate the rate cut cycle from September. The US Dollar has gathered some strength on the strong US Retail Sales data, while …

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• 15 April 2024 6:12 pm

  US Retail Sales rise in March

  

  The US Census Bureau revealed on Monday that Retail Sales in the US experienced a 0.7% increase in March, reaching $709.6 billion. This figure follows a revised 0.9% rise (originally reported as 0.6%) in January and surpassed market forecasts of 0.3%. Excluding automobile sales, Retail Sales surged by 1.1% during …

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