Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 4 April 2024 2:48 am

  Gold Rallies Following Mixed US Data, Declining T-yields

  

  The weaker US dollar and falling US Treasury yields have kept gold prices anchored around $2,300. Fed Chair Powell’s suggestion that rates might be lowered this year, if inflation keeps falling, helped the XAU/USD Index rise. US Data Lifts Gold Price Precious metals are rising even if ADP data shows …

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• 4 April 2024 12:00 am

  Tesla’s Deliveries Raise Fresh Questions About Demand, Earnings

  

  Tesla’s lower-than-expected Q1 vehicle deliveries led most analysts to lower their estimates for the electric carmaker’s full-year earnings. After a brief decline, the stock price somewhat increased by Wednesday’s closing.Unmet Goals and Business Obstacles Tesla exceeded even the most bullish expert estimates in Q1 by delivering 386,810 cars. This was …

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• 3 April 2024 11:00 pm

  Oil Prices climb as OPEC Maintains Production Cuts

  

  The price of oil kept rising, hitting a five-month high of around $90 per barrel. WTI and Brent crude are both up 0.24%. As of this writing, Brent crude is trading at $89.085 per barrel, while US crude is trading at $85.053 per barrel, up. This rise comes after OPEC …

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• 3 April 2024 10:06 pm

  Canadian dollar bounces up as soft US data hurts the US dollar

  

  On Wednesday, the US Dollar and US rates dropped, while the Canadian dollar recovered some of the ground it had lost due to weak US services activity data. As a result of negative US data, the US dollar declines while the Canadian dollar rises. Contrary to forecasts, US service sector …

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• 3 April 2024 9:10 pm

  EUR/USD jumps to weekly highs on weak US data

  

  On Wednesday, the US dollar declines across the board versus rivals, while the euro rises. The US ISM Services PMI’s unexpected dip has allayed worries that the Fed may become more hawkish. The Eurozone CPI earlier on Wednesday showed less forceful price pressures in March than anticipated. During the US …

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• 3 April 2024 6:54 pm

  USD/CHF retreats following dismal US Services PMI

  

  The USD/CHF pair is facing selling pressure near 0.9100 due to weak ISM Services PMI data from the United States Institute of Supply Management (ISM). The Services PMI, which represents the service sector, fell to 51.4 from expectations of 52.7 and the prior reading of 52.6. The US Dollar has …

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• 3 April 2024 4:22 pm

  Inflation in the Eurozone unexpectedly declines, increasing the chances of a rate cut

  

  Euro zone inflation unexpectedly fell last month, providing the European Central Bank (ECB) with greater flexibility to consider cutting interest rates from their historically high levels. In March, consumer price growth in the 19 countries that use the euro slowed to 2.4 percent from 2.6 percent in the previous month. …

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• 3 April 2024 1:31 pm

  Japan’s Nikkei index closed lower

  

  Japan’s Nikkei index closed lower on Wednesday, affected by a decline in the shares of Fast Retailing, which owns the Uniqlo supermarket chain, in addition to a decline on Wall Street on Tuesday night. Shares of technology companies fell, tracking their counterparts in the United States, and the strong earthquake …

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• 3 April 2024 12:08 pm

  European stocks stabilize ahead of inflation data

  

  Traders traded European stocks in a narrow range on Wednesday and remained cautious ahead of a key inflation report that could affect expectations about the timing of the European Central Bank’s first interest rate cut. The European STOXX 600 index was flat at 0715 GMT. After the inflation report in …

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• 3 April 2024 10:38 am

  Oil prices rise as supply concerns weigh on the market

  

  Oil prices extended gains on Wednesday, as a larger-than-expected decline in US crude inventories and escalating geopolitical tension raised investor concerns about tight supplies. Brent crude futures for June delivery rose 20 cents, or 0.22 percent, to $89.12 a barrel, while US West Texas Intermediate crude futures for May delivery …

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• 3 April 2024 2:11 am

  Market Drivers; US Session, April 2

  

  As European investors got back to work after the long Easter break, the US dollar declined from its recent highs, providing some much-needed relief in the risk-linked world. The USD Index (DXY) dropped to 104.70 from recent heights over 105.00 as a result of fresh selling pressure on the US …

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• 3 April 2024 1:52 am

  Will Bitcoin Rally Following Halving Event?

  

  Bitcoin halving is a scheduled event that takes place every almost four years and its main result is to lower the reward for miners in order to validate transactions by fifty percent. The protocol of Bitcoin includes this method to limit the rate of inflation and guarantee a limited number …

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• 3 April 2024 1:04 am

  Oil-linked Stocks Surpass Big Tech Ahead of Crucial OPEC+ Meeting

  

  Big Tech’s reign over the market might was remarkable since the onset of this year, but this pioneering role is facing a challenge now as assets linked to oil, and broadly energy are surpassing the performance of Wall Street’s Big Tech. After a stellar first quarter, energy stocks have roared …

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