Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 27 February 2024 11:43 am

  Gold Prices Rise Amidst Dollar Decline Ahead of US Inflation Report

  

  Gold Prices Climb as Dollar Weakens Ahead of Key Economic Data Gold prices surged on Tuesday, propelled by a decline in the dollar, as investors awaited a significant inflation report from the United States. The week ahead is marked by a flurry of data releases and statements from Federal Reserve …

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• 27 February 2024 2:50 am

  Market Drivers – US Session, February 26

  

  A further depreciation of the US dollar enabled riskier financial assets to continue rising in the green, amidst persistent bets of a June interest rate cut by the Fed and before of important inflation data for the US (PCE) and the Eurozone’s CPI data. When measured by the USD Index …

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• 27 February 2024 2:39 am

  WTI rises on Red Sea shipping threats

  

  The US benchmark WTI oil prices rose over 1.25% on Monday, around $77.37 per barrel due to the ongoing Red Sea shipping threat and European diesel demand. The slump in US diesel exports to Europe was attributed to lower refinery output and tighter supplies in the US, with Europe’s US …

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• 27 February 2024 1:39 am

  EUR/USD rises 0.30% on first day of eventful week

  

  The eventful week ahead for the economy saw the EUR/USD pair get off to a dismal start. On Monday, it rose more than a quarter of a percent, or 0.30%, to settle at 1.0850. Prior to price inflation and growth data that is expected in the US and the Eurozone, …

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• 27 February 2024 1:04 am

  Gold price fluctuates amid rising US Treasury yields

  

  Gold prices earlier on Monday fell to $2026.93 an ounce as a result of pressure from the recent increase in Treasury yields. With conflicting expectations for a possible quantitative easing in June, while market sentiment is still erratic. Gold’s price is restrained since the US 10-year Treasury yield is moving …

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• 26 February 2024 10:41 pm

  Explainer: How will PCE data test recent stock market rally?

  

  The S&P 500 and Dow Jones ended the week up almost 1%, while the Nasdaq Composite gained nearly 0.6%, demonstrating the recent robust surge in the stock market. The latest reading of the Fed’s favoured inflation indicator, the Personal Consumption Expenditures (PCE) index, which was released on Thursday, is expected …

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• 26 February 2024 10:19 pm

  Treasury yields rise on first day of eventful trading week

  

  US Treasury bond yields have risen since the start of trading on Monday due to anticipation of economic data, Federal Reserve statements, and earnings reports. The stock market lost momentum after reaching record levels, with traders anticipating a barrage of economic data and statements from Federal Reserve officials that could …

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• 26 February 2024 9:19 pm

  USD/CAD rises ahead of US Durable Goods, GDP

  

  The USD/CAD pair rose +0.09% and is trading at 1.3519 at the time of writing. Earlier on the day, the pair was in a slow drift near the 1.3500 handle, with Canada wholesale trade likely falling 0.6% in January. US New Home Sales rose 1.5% vs 7.2% previous, with Durable …

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• 26 February 2024 8:13 pm

  US stocks trade mixed ahead of key data releases

  

  Wall Street’s main indexes reached new all-time highs last week, with the Dow Jones Industrial Average (DJIA) at 39,143.98, the Nasdaq Composite up 0.15% at 16,015.32, and the S&P 500 trading near Friday’s closing level at 5,088 midday on Monday. The Energy Sector is the best-performing major S&P sector in …

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• 26 February 2024 5:40 pm

  US Dollar Weakens in European Markets Amidst Yield Slowdown and Awaited Economic Data

  

  Dollar Resumes Decline Amidst Yield Slowdown and Market Anticipation In European markets on Monday, the US dollar faced renewed downward pressure against a basket of global currencies, marking a continuation of losses halted in the previous session. This decline signals a trajectory towards testing the lowest levels seen in three …

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• 26 February 2024 4:35 pm

  European Stocks Retreat as Dollar Strength Dampens Sentiment

  

  European Markets Witness Decline Amidst Dollar Strength and Inflation Data Anticipation European stocks commenced trading on Monday with a downturn, as dollar-denominated commodities faced diminished appeal in light of the strengthening US currency. Investors remained on edge, awaiting pivotal inflation data releases scheduled for this week in both the eurozone …

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• 26 February 2024 2:17 pm

  European Stocks Retreat as Dollar Strength Dampens Sentiment

  

  European Markets Witness Decline Amidst Dollar Strength and Inflation Data Anticipation European stocks commenced trading on Monday with a downturn, as dollar-denominated commodities faced diminished appeal in light of the strengthening US currency. Investors remained on edge, awaiting pivotal inflation data releases scheduled for this week in both the eurozone …

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• 26 February 2024 1:13 pm

  Oil Prices Dip Amidst Inflation Concerns and Market Uncertainty

  

  Early Asian Trading Reflects Persistent Pressure on Oil Prices Early Asian trading on Monday witnessed a continuation of the downward trend in oil prices, extending losses from the previous session. Concerns surrounding higher-than-expected inflation and its potential impact on US interest rate policy weighed heavily on market sentiment, amplifying uncertainty …

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