Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 5 February 2024 9:08 pm

  Caterpillar stock on track for record high on higher than expected earnings

  

  Higher prices helped Caterpillar boost profit margins and offset a drop in sales volume. Higher prices helped Caterpillar boost profit margins and offset a drop in sales volume. Caterpillar shares were on pace to close at a record high after the excavator and bulldozer builder reported a fourth-quarter profit that …

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• 5 February 2024 8:27 pm

  McDonald’s stock slightly dipped after sales disappoint

  

  McDonald’s stock fell marginally in premarket trade Monday as the world’s largest fast food restaurant failed earnings projections and, like Starbucks last week, blamed weaker sales on the Israel-Hamas war.McDonald’s reported Q4’s revenue of $6.41 billion, 7.5% higher than the $5.92 billion recorded in the same period previous year and …

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• 5 February 2024 7:33 pm

  RBA Rate Decision Preview: Forecast by eight major banks

  

  The Reserve Bank of Australia will announce its next Interest Rate Decision on Tuesday, February 6 at 03:30 GMT. As the release date approaches, here are estimates from economists and researchers at eight major banks about the next central bank decision.The customary rate decision and post-meeting statement will be followed …

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• 5 February 2024 3:21 pm

  Gold Prices Retreat Amid Dollar Strength and Rising Treasury Yields

  

  On Monday, gold prices experienced a decline as the dollar strengthened, and U.S. Treasury bond yields rose following a robust jobs report. The data indicated a strong performance in the job sector, dampening expectations of an imminent interest rate cut by the Federal Reserve. Gold Price Movements Spot Gold Drops …

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• 5 February 2024 2:57 pm

  European stocks open higher on positive business results

  

  European stocks saw a positive start to the trading session on Monday, fueled by more upbeat corporate results, although investor confidence faced headwinds from global economic considerations and reassessment of interest rate expectations. Market Overview STOXX 600 Index Rises 0.2 Percent The European STOXX 600 index demonstrated resilience, rising by …

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• 5 February 2024 1:20 pm

  Dollar Hits 8-Week High Amidst Diminished Rate Cut Expectations

  

  On Monday, the US dollar surged to its highest level in eight weeks against major currencies as traders recalibrated their expectations for significant interest rate cuts by the Federal Reserve this year. The robust performance of the US economy, coupled with a stronger-than-expected jobs report, contributed to the dollar’s ascent. …

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• 5 February 2024 11:58 am

  Nikkei Rises on Weaker Yen and Wall Street Gains

  

  On Monday, Japan’s Nikkei index experienced a rise, propelled by the weakening yen and positive momentum from Wall Street over the weekend. The Nikkei climbed 0.54 percent, closing at 36,354.16 points. The broader Topix index also witnessed an increase of 0.67 percent. Market Dynamics and Stock Movement Support from Wall …

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• 5 February 2024 10:57 am

  Oil Prices Stabilize Amidst Middle East Tensions and Ceasefire Efforts in Gaza

  

  In the early hours of Monday’s Asian trading session, oil prices steadied following significant declines last week. The market’s focus remained on ongoing attempts to negotiate a ceasefire agreement in the Gaza Strip. Despite these diplomatic efforts, the United States has signaled its intention to carry out additional attacks on …

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• 5 February 2024 6:31 am

  The Global Financial Pulse – Weekly Recap

  

  The past week proved to be a rollercoaster for global financial markets, dominated by pivotal events that shaped the economic landscape. From the Evergrande saga to pivotal interest rate decisions and robust US job data, here’s a comprehensive breakdown of the week that was. American Interest – The Fed’s Pause …

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• 3 February 2024 1:30 am

  Market Drivers – US Session, February 2

  

  Gold is -0.85% down, trading around $2037 per ounce at the time of writing, obviously impacted by the rallying US dollar following surprise NFP reading on Friday.European equities gained after the US Nonfarm Payrolls reached a one-year high, pushing investors further away from rate cut expectations. The pan-European STOXX600 index …

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• 3 February 2024 1:11 am

  EUR/USD falls on stronger dollar following NFP data

  

  The EUR/USD pair is losing important technical control after the US Jobs Report outperformed expectations, with US Nonfarm Payrolls reaching a one-year high and causing substantial upward revisions to earlier data points. The pair is trading at 1.0792, down -0.72% as of writing.The US economy continues to impress investors, with …

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• 2 February 2024 11:14 pm

  Dollar advances as traders abandon rate cut hopes in March

  

  The DXY Index rallied by over 0.80% to 103.90 on Friday, with US Nonfarm Payrolls surpassing expectations for January. US bond yields are increasing as markets push towards May’s start of the easing cycle.Fed Chair Powell confirmed that a March rate cut is unlikely despite market speculation, and the bank …

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• 2 February 2024 10:30 pm

  Explainer: Why have commodities largely fluctuated in January?

  

  In January 2024, financial markets were active and turbulent, with investors initially rejoicing as inflation fell and sectors such as semiconductors saw big gains. However, a hawkish central bank and geopolitical concerns tempered confidence, while dropping oil prices and stricter investment conditions put adverse pressure on investors.Financial markets continued its …

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