Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 20 February 2024 7:16 pm

  EUR/USD climbs after EU’s Current Account surplus

  

  EUR/USD has risen to 1.0833 due to the Eurozone’s widened current account surplus and a quiet US market. The ECB wage data and Lagarde’s remarks suggest a measured easing stance, awaiting Q1 insights. The US Leading Index and forthcoming FOMC minutes are expected to guide EUR/USD amidst varying expectations. The …

  Read More »
• 20 February 2024 5:56 pm

  Softening Inflation in Canada Eases Market Concerns

  

  Statistics Canada’s latest report revealed a softening in inflation for Canada, with the Consumer Price Index (CPI) showing a decrease to 2.9% on a yearly basis in January from 3.4% in December. This figure fell below market expectations, which were anticipating a rate of 3.3%. Additionally, on a monthly basis, …

  Read More »
• 20 February 2024 3:59 pm

  Russia Affirms Commitment to OPEC+ Quota Amid Oil Refining Decline

  

  Russian Deputy Prime Minister Alexander Novak reaffirmed Moscow’s commitment to adhere to its quota within the OPEC+ agreement, despite a recent decline in oil refining. Novak’s statement, reported by the Russian TASS news agency on Tuesday, underscores Russia’s dedication to the collaborative effort led by the Organization of the Petroleum …

  Read More »
• 20 February 2024 3:30 pm

  Barclays Reports Fourth Quarter Loss Amid Strategic Update

  

  British bank Barclays revealed a net loss of £111 million in the fourth quarter of 2023, equivalent to $139.8 million, marking a significant development as the bank unveils its first major strategy update since 2016. This announcement comes as Barclays initiates a substantial restructuring effort to combat declining profits. Analyst …

  Read More »
• 20 February 2024 2:53 pm

  European Shares Open Lower Amid Rate Cut Speculation

  

  European shares started on a downward trajectory on Tuesday, influenced by uncertainties surrounding potential wage settlement increases in the euro zone, which could delay anticipated interest rate cuts. Additionally, China’s decision to cut mortgage interest rates failed to inspire optimism among investors. STOXX 600 Index Slips The European STOXX 600 …

  Read More »
• 20 February 2024 2:00 pm

  Japanese Stock Index Stalls Below Three-Decade Peak

  

  The primary Japanese stock index struggled to sustain its upward momentum on Tuesday, hovering approximately one percent below its highest peak recorded in over three decades. Trader apprehension ahead of Nvidia’s earnings release contributed to market uncertainty. China’s Interest Rate Cut Offers Brief Boost An unexpected interest rate cut in …

  Read More »
• 20 February 2024 1:06 pm

  Dollar Strengthens, Stabilizing Above 150 Yen

  

  On Tuesday, the dollar exhibited strength, maintaining its position above 150 yen amidst expectations of prolonged higher US interest rates. This occurred against the backdrop of Japan’s economic recession and market skepticism regarding Tokyo’s imminent monetary easing policy adjustment. China’s Mortgage Rate Cut Draws Trader Attention Early Tuesday, China’s decision …

  Read More »
• 20 February 2024 11:19 am

  Gold Prices Steady Despite Dollar and Bond Yield Rise

  

  Gold prices maintained stability on Tuesday, resilient to a surge in the dollar and Treasury bond yields. Investors awaited insights from the Federal Reserve’s latest meeting minutes for potential clues regarding interest rate cuts. At 0341 GMT, the spot price of gold settled at $2,018.03 per ounce, with most US …

  Read More »
• 20 February 2024 3:03 am

  Market Drivers – US Session, February 19

  

  The ongoing Gaza crisis as well as fresh Houthi attacks are keeping barrel prices high. Monday saw a test of $78.11 a barrel for West Texas Intermediate crude, finding the opportunity to gain momentum as US markets were closed in observance of the federal holiday known as American President’s Day. …

  Read More »
• 20 February 2024 2:51 am

  WTI trades above $78.00 on continued supply concerns

  

  The ongoing Gaza crisis as well as fresh Houthi attacks are keeping barrel prices high. Monday saw a test of $78.11 a barrel for West Texas Intermediate crude, finding the opportunity to gain momentum as US markets were closed in observance of the federal holiday known as American President’s Day. …

  Read More »
• 20 February 2024 1:33 am

  Gold price consolidates gains ahead of FOMC minutes

  

  On Monday, during a calm North America session, gold price was able to climb up 0.24& to $2017.50, driven by US inflation surpassing forecasts. Given that the USD has declined since last Tuesday, gold’s appeal is increased by the decreased probability of impending Fed rate cuts. In the meantime, traders …

  Read More »
• 20 February 2024 12:12 am

  Morgan Stanley faces accusations of cheating EU regulators

  

  In an attempt to comply with the post-Bri9exit rules, EU regulators believe that they were misled into thinking that Morgan Stanley has relocated top executives to Europe in order to comply with the rules in place.Morgan Stanley has been accused of fabricating a false job title for one of its …

  Read More »
• 19 February 2024 9:44 pm

  US stocks slightly recover post hotter than expected inflation figures

  

  Markets are closed on Monday for the Presidents’ Day holiday. Stocks have nearly recovered after last week’s inflation report, with the S&P 500 closing down 0.4% but cracking a new record-high on Thursday. The Dow Jones Industrial Average slipped 0.1% for the week and the Nasdaq Composite fell 1.3%. The …

  Read More »