Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 9 January 2024 3:16 pm

  Chinese Passenger Car Sales Show Resilience with an 8.3% Rise in December

  

  Despite moderating from the previous month’s notable surge, passenger car sales in China demonstrated robust growth, increasing by 8.3 percent in December. This uptick was fueled by a competitive price war among manufacturers. According to the China Passenger Car Association’s report on Tuesday, sales reached 2.37 million vehicles in December, …

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• 9 January 2024 2:05 pm

  Mixed Market Sentiments Impact Dollar, Cryptocurrencies Remain Resilient

  

  The upward momentum of the US dollar encountered resistance on Tuesday as traders maintained their expectations of multiple interest rate cuts by the Federal Reserve this year, citing signs of slowing US inflation. Meanwhile, in the cryptocurrency sphere, Bitcoin continued to hover near its highest level since April 2022, driven …

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• 9 January 2024 12:53 pm

  Gold Prices Rebound from Three-Week Low

  

  On Tuesday, gold prices rebounded from a three-week low, finding support in a weakening dollar following an official US report indicating that consumers anticipate lower inflation. The prospect of a Federal Reserve interest rate cut fueled optimism in the precious metal market. Gold experienced an immediate uptick of 0.2 percent, …

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• 9 January 2024 11:24 am

  Global Oil Markets Find Stability Amidst Regional Tensions and Supply Dynamics

  

  In early Tuesday trading, oil prices experienced a stabilization following a decline in the previous session. The market found itself delicately balanced between ongoing geopolitical tensions in the Middle East and growing concerns over demand, coupled with increased oil supplies from OPEC. Brent crude futures exhibited resilience, registering a modest …

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• 8 January 2024 7:00 pm

  Boeing shares tumble amid continuing fallout from fresh 737 Max incident

  

  The incident you described involving a Boeing 737 Max 9 jet and the subsequent grounding of around 171 Boeing jets has indeed led to a decline in Boeing’s stock. The situation has raised concerns about safety inspections and potential issues with the aircraft model. The Federal Aviation Administration (FAA) has …

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• 8 January 2024 4:03 pm

  Euro area Retail Sales decline in November

  

  The latest economic data from the Euro area provides a snapshot of the region’s economic conditions: Retail Sales: In November, Eurostat reported a decline of 0.3% in retail sales on a monthly basis.This follows the revised increase of 0.4% (originally reported as 0.1%) recorded in October.The reported figure aligns with …

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• 8 January 2024 2:44 pm

  European stocks open lower as energy stocks decline and bond yields rise

  

  European stocks encountered a lower opening on Monday, extending their sluggish start to the year, as a rise in government bond yields and a decline in energy stocks impacted risk appetite negatively. The European STOXX 600 index recorded a 0.1 percent decline by 0815 GMT. Yields on both European 10-year …

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• 8 January 2024 1:34 pm

  German exports rose more than expected in November

  

  On Monday, data from the Federal Statistical Office revealed that German exports exceeded expectations in November, experiencing a robust increase driven by heightened demand within the European Union. German exports surged by an impressive 3.7 percent in November compared to the previous month, surpassing the 0.3 percent increase forecasted in …

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• 8 January 2024 12:38 pm

  Dollar consolidates as US inflation data nears announcement

  

  The dollar found stability on Monday as market participants awaited the release of a crucial US inflation data report later in the week. This report is anticipated to offer further insights into the expected monetary policy stance at the Federal Reserve, following a cautious start to the year with diminished …

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• 8 January 2024 11:30 am

  Gold fell with the rise of USD, focus on US inflation data

  

  Gold prices experienced a decline on Monday as expectations of an early US interest rate cut diminished, leading to a strengthening dollar and higher Treasury yields. As investors awaited crucial inflation data later in the week, the precious metal faced headwinds. As of 0556 GMT, the spot price of gold …

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• 8 January 2024 10:33 am

  Oil declines by more than 1%, affected by the reduction in Saudi crude prices

  

  Oil prices experienced a decline of more than one percent on Monday, driven by significant cuts in the official selling prices for Saudi crude and an upswing in OPEC production. Despite escalating geopolitical tensions in the Middle East, these factors weighed more heavily on market sentiment. As of 0344 GMT, …

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• 6 January 2024 12:23 am

  WTI slides below $74 amid geopolitical tensions

  

  The spillover from the Middle East crisis has disrupted crude oil markets, causing cargo ships to be diverted from the Red Sea for the foreseeable future. On Friday, there was a small increase in West Texas Intermediate (WTI) US Crude Oil, which hit 74.27, but a decline in American crude, …

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• 5 January 2024 11:14 pm

  Canadian dollar retreats to new low on jobs data

  

  The Canadian dollar fell to a new low against the US dollar on Friday, but then surged to a three-day high after a strong US Nonfarm Payrolls report crushed market forecasts. Canada’s labour market added fewer jobs than expected, but persistent wage growth accelerated to a two-year high. US Nonfarm …

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