Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 4 January 2024 12:28 pm

  Dollar rebounds as bets on a rate cut in US decline

  

  The dollar strengthened on Thursday, aligning with a reconsideration of expectations for the extent of the Federal Reserve’s interest rate reduction this year. This shift occurred amid market caution following a surge in risk appetite last month. In Asia, the dollar reached its highest levels against the yen in two …

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• 4 January 2024 11:14 am

  Oil prices rise as concerns about supplies continue

  

  Oil prices experienced a rise in early trading on Thursday, January 4, extending substantial gains from the previous session amid concerns about Middle East supplies. This surge is attributed to the shutdown of production in a field in Libya and escalating tensions due to Israel’s conflict in the Gaza Strip. …

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• 4 January 2024 10:40 am

  Gold prices rise before the release of US economic data

  

  Gold prices experienced an increase in today’s trading on Thursday, January 4, rebounding from the significant decline witnessed on Wednesday, marking the sharpest drop in three weeks. This decline occurred after the release of the minutes from the last US Federal Reserve meetings in 2023, revealing uncertainty regarding the timing …

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• 4 January 2024 1:41 am

  Market Drivers – US Session, January 3, 2024

  

  The US dollar is still seen favourably at the start of the new trading year. Asian markets should closely monitor the Chinese schedule going forward, since Caixin Services and Composite PMIs are due on that calendar. While there is nothing planned in Oz for Thursday, the final Manufacturing PMI watched …

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• 4 January 2024 1:28 am

  Gold retreats following FOMC minutes

  

  Gold retreats to a two-week low as the FOMC minutes reveal no dovish slant even though they acknowledge progress in inflation. The US Dollar Index rises 1.11% while the precious metal struggles with a loss of nearly 1%, indicating strong USD performance. The market is focusing on December’s Nonfarm Payrolls …

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• 4 January 2024 12:39 am

  EUR/USD barely recovers as markets digest FOMC minutes

  

  The EUR/USD pair is attempting to regain support after retreating into the 1.0900 handle. According to the most recent meeting minutes, the Fed is trying to lower market expectations for rate cuts. Markets are concentrating on US PMI data on Wednesday due to the lack of EU data. The Fed …

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• 3 January 2024 11:37 pm

  FOMC Minutes: Policymakers saw rate cuts likely, path highly uncertain

  

  According to meeting minutes made public on Wednesday, Federal Reserve policymakers agreed in December that interest rate reductions are probably going to happen in 2024, although they didn’t seem to specify when.A number of FOMC members stated that when bank reserves “are somewhat above the level judged consistent with ample,” …

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• 3 January 2024 11:07 pm

  FOMC minutes cite “diminished” inflation risks, concern about “overly restrictive” policy

  

  US Federal Reserve officials appeared increasingly convinced at their meeting last month that inflation was coming under control, with “upside risks” diminished and growing concern about the damage that “overly restrictive” monetary policy might do to the economy, according to minutes of the central bank’s Dec. 12-13 policy meeting.As a …

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• 3 January 2024 10:28 pm

  Dollar Climbs Ahead Of FOMC Minutes

  

  The DXY Index is advancing with strong gains, recovering above the 20-day SMA, while US JOLTs Jobs Openings and ISM’s December Manufacturing PMI exceeded expectations. Dovish bets on the Fed have eased slightly, but remain high. The US Dollar Index has gained at 102.60, reclaiming the 20-day Simple Moving Average. …

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• 3 January 2024 9:32 pm

  GBP/USD weakening as investors focus on US data

  

  The GBP/USD pair has not recovered much after Tuesday’s steep drop, but it is currently trading around 1.2644. This week’s UK data is scarce as investors prioritize US labour and economic activity data. Leading the way is the US ISM Manufacturing Purchasing Managers’ Index, whose December PMI surpassed forecasts but …

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• 3 January 2024 8:41 pm

  January to witness deadline for the government shutdown

  

  A partial or total government shutdown could be brought on by two impending deadlines in early 2024, especially in light of the little progress made thus far. January 19 is the first deadline, while February 2 is the second. Since various government departments are impacted by these two midnight deadlines, …

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• 3 January 2024 7:24 pm

  JOLTS for November decline below forecast

  

  The number of job openings on the last business day of November stood at 8.79 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday. This reading followed 8.85 million (revised from 8.73 million) openings in October and came in …

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• 3 January 2024 6:13 pm

  European Shares Retreat to Three-Week Low Following Robust 2023 Performance

  

  On Wednesday, Europe’s benchmark stock index, the STOXX 600, dropped to a three-week low, testing the previous year’s market rally. The index was down 0.8% at 1310 GMT, having started the new year on a lackluster note the day before. Major European indexes in Germany, Italy, and France slid over …

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