Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 25 January 2024 2:59 pm

  Dollar stabilizes in anticipation of US data and focus on the ECB

  

  The dollar was broadly stable near a six-week high on Thursday, as traders awaited US GDP data and other data this week for clues about where interest rates might be heading. At the same time, the euro saw some decline ahead of the European Central Bank’s monetary policy meeting later …

  Read More »
• 25 January 2024 12:36 pm

  Gold is hovering near a one-week low amid the strength of USD

  

  Gold prices maintained their position near a one-week low on Thursday, as they grappled with the influence of a resilient dollar and escalating bond yields. The market’s focus was primarily directed towards the impending release of US GDP data and the outcome of the European Central Bank’s (ECB) monetary policy …

  Read More »
• 25 January 2024 12:21 pm

  Oil rises amid decline in US crude inventories and stimulus hopes in China

  

  Oil prices experienced an upward surge on Thursday, driven by a combination of factors contributing to market optimism. Data revealing a substantial drop in US crude inventories, coupled with the Chinese central bank’s decision to reduce the reserve requirement ratio for banks, generated positive sentiment and heightened hopes for continued …

  Read More »
• 25 January 2024 4:40 am

  Market Drivers – US Session, Jan. 24

  

  A growing appetite for riskier assets caused gold prices to retreat during the North American session, closing in on the $2010 area. The recovery of interest in the risk complex put pressure on the dollar and drove the EUR/USD pair above 1.0900. News of further stimulus in China from the …

  Read More »
• 25 January 2024 4:28 am

  ECB Rate Decision Preview: Will ECB resist rate cut for longer?

  

  It is broadly expected that the European Central Bank will keep the interest rate unchanged this January at 4.00%, amid statements made by policymakers suggesting that it is still too early to talk about reducing interest.This scenario reinforces the European monetary authorities’ assertion that any future movement on the interest …

  Read More »
• 25 January 2024 4:04 am

  Coinbase share loses almost 3% after Bircoin’s decline

  

  JPMorgan has downgraded Coinbase to underweight, citing the disappointing performance of Bitcoin ETFs. The launch of spot bitcoin ETFs last year was expected to lead to a new era for cryptocurrencies, with mainstream money expected to flood the space. However, the bank cut its rating to underweight from neutral, with …

  Read More »
• 25 January 2024 2:42 am

  WTI surges into $75.50 after EIA report

  

  Crude oil prices surged on the energy markets after US supplies fell more than anticipated. The US’s crude stockpiles saw a sharp decline, but refined petrol saw an increase, according to the EIA. Logistics for crude oil were hindered by the cold, but demand is predicted to rise due to …

  Read More »
• 25 January 2024 2:30 am

  Crypto Lender Nexo sues Bulgaria for $3 billion in damages

  

  A $3 billion arbitration lawsuit has been made against Bulgaria by cryptocurrency lender Nexo, which claims the nation has ruined its reputation and closed off business prospects. December 2023 saw a money laundering investigation into the company by Bulgaria’s prosecutor’s office, which allows the buying and selling of cryptocurrency. Claiming …

  Read More »
• 25 January 2024 12:07 am

  US stocks rally on shining earnings

  

  Earlier in the session, the Nasdaq Composite had surged more than 1%; but, by the afternoon, gains had tapered off to roughly 0.5%. Not only did Netflix lead the way in strong profits, but other major tech companies like Microsoft and Meta also had increases in their stock prices.While the …

  Read More »
• 24 January 2024 10:22 pm

  Strong S&P PMIs fails to boost US dollar

  

  Despite high S&P PMIs, the US dollar is trading at a lower level; down -0.36% as per the DXY Index, which fell, earlier during the North American session to 103.05 as a result. the DXY reading is 103.149 at the time of writing. The The US S&P PMI for January …

  Read More »
• 24 January 2024 9:42 pm

  Canadian Dollar roils as US PMIs overshadow BoC rate decision

  

  The Canadian Dollar has experienced a decline due to the Bank of Canada’s dovish outlook on inflation, with Canadian inflation not expected to return to the BoC’s 2% target until 2025. Money markets have reduced bets of a BoC rate cut in April to 40%, from 65% before the BoC’s …

  Read More »
• 24 January 2024 8:45 pm

  BoC’s Macklem warns from giving false precision about rate cut timing

  

  Tiff Macklem, Governor of the Bank of Canada (BoC), and Senior Deputy Governor Carolyn Rogers explain the BoC decision to leave the interest rate unchanged at 5% after the January policy meeting and respond to questions from the press.Key Quotes“Inflation is still somewhat broad-based and that’s why we’re concerned about …

  Read More »
• 24 January 2024 7:48 pm

  Netflix revenue beats estimates in interesting season

  

  Netflix said Tuesday that its fourth quarter subscriber additions surged, topping its own forecast and sending its stock as much as 14% higher in early trading on Wednesday.The subscriber additions of 13.12 million beat Netflix’s own forecast of about 9 million with full-year 2023 net additions sitting at roughly 30 …

  Read More »