Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 4 January 2024 8:47 pm

  USD/JPY rallies following US labour data

  

  The USD/JPY pair advanced 1% to the 147.70 level. US Jobless Claims for the week ending December 30 were reported at 202K, which was less than expected. With 164K new employment added in December, the US ADP Employment Change exceeded expectations.The pair rises while the US economy remains stable. The …

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• 4 January 2024 7:49 pm

  Swiss Franc weakens vs Sterling after UK data

  

  The Swiss Franc retreated on Thursday due to strong global macroeconomic data, particularly from the United Kingdom. The safe-haven Swiss Franc fell against the Pound due to the positive boost to investor risk appetite from the figures. China recorded a higher-than-expected Services PMI for December, showing the world’s second largest …

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• 4 January 2024 5:27 pm

  ADP Employment Change rises in December

  

  The ADP Research Institute is scheduled to release the December Jobs Survey on Thursday. This survey provides an independent estimate of private-sector employment and pay and is typically unveiled two days prior to the official Nonfarm Payrolls (NFP) report. While the correlation between ADP and NFP numbers is not consistently …

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• 4 January 2024 3:29 pm

  A new decline in business activities in the Eurozone in December

  

  The contraction in business activities in the eurozone persisted at the close of 2023, primarily driven by an ongoing decline in the dominant services sector. A survey released on Thursday indicates that the bloc’s economy is experiencing stagnation. The Standard & Poor’s Composite Purchasing Managers’ Index, considered a reliable gauge …

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• 4 January 2024 1:29 pm

  European stocks recover from 3-week low, supported by healthcare and energy

  

  European stocks rebounded on Thursday, buoyed by gains in the healthcare and energy sectors. Investors are anticipating a series of economic data, looking for any indications of earlier-than-expected monetary easing from major central banks this year. As of 0804 GMT, the European STOXX 600 index increased by 0.5 percent, recovering …

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• 4 January 2024 12:28 pm

  Dollar rebounds as bets on a rate cut in US decline

  

  The dollar strengthened on Thursday, aligning with a reconsideration of expectations for the extent of the Federal Reserve’s interest rate reduction this year. This shift occurred amid market caution following a surge in risk appetite last month. In Asia, the dollar reached its highest levels against the yen in two …

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• 4 January 2024 11:14 am

  Oil prices rise as concerns about supplies continue

  

  Oil prices experienced a rise in early trading on Thursday, January 4, extending substantial gains from the previous session amid concerns about Middle East supplies. This surge is attributed to the shutdown of production in a field in Libya and escalating tensions due to Israel’s conflict in the Gaza Strip. …

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• 4 January 2024 10:40 am

  Gold prices rise before the release of US economic data

  

  Gold prices experienced an increase in today’s trading on Thursday, January 4, rebounding from the significant decline witnessed on Wednesday, marking the sharpest drop in three weeks. This decline occurred after the release of the minutes from the last US Federal Reserve meetings in 2023, revealing uncertainty regarding the timing …

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• 4 January 2024 1:41 am

  Market Drivers – US Session, January 3, 2024

  

  The US dollar is still seen favourably at the start of the new trading year. Asian markets should closely monitor the Chinese schedule going forward, since Caixin Services and Composite PMIs are due on that calendar. While there is nothing planned in Oz for Thursday, the final Manufacturing PMI watched …

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• 4 January 2024 1:28 am

  Gold retreats following FOMC minutes

  

  Gold retreats to a two-week low as the FOMC minutes reveal no dovish slant even though they acknowledge progress in inflation. The US Dollar Index rises 1.11% while the precious metal struggles with a loss of nearly 1%, indicating strong USD performance. The market is focusing on December’s Nonfarm Payrolls …

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• 4 January 2024 12:39 am

  EUR/USD barely recovers as markets digest FOMC minutes

  

  The EUR/USD pair is attempting to regain support after retreating into the 1.0900 handle. According to the most recent meeting minutes, the Fed is trying to lower market expectations for rate cuts. Markets are concentrating on US PMI data on Wednesday due to the lack of EU data. The Fed …

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• 3 January 2024 11:37 pm

  FOMC Minutes: Policymakers saw rate cuts likely, path highly uncertain

  

  According to meeting minutes made public on Wednesday, Federal Reserve policymakers agreed in December that interest rate reductions are probably going to happen in 2024, although they didn’t seem to specify when.A number of FOMC members stated that when bank reserves “are somewhat above the level judged consistent with ample,” …

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• 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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