Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 3 January 2024 6:11 pm

  US government debt exceeds $34 trillion for the first time in its history

  

  The total public debt of the United States has surpassed $34 trillion for the first time in history, according to the daily statement from the US Treasury Department. This announcement comes as Congress prepares for upcoming battles over federal funding. The total outstanding public debt reached $34.001 trillion, with the …

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• 3 January 2024 3:13 pm

  Gold prices rise as USD declines ahead of Fed

  

  Gold prices saw a slight increase on Wednesday, supported by a weaker dollar and the market’s anticipation of key data releases, including the Federal Reserve meeting minutes and the private sector jobs report in the United States. These releases are crucial for gaining insights into potential changes in interest rates. …

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• 3 January 2024 1:42 pm

  European stocks are stable as investors await indicators on monetary policy

  

  European stocks showed modest performance at the start of trading on Wednesday, with the momentum that drove the market higher at the end of the previous year starting to wane. Investors are eagerly awaiting key indicators that could shape global monetary policy. As of 08:10 GMT, the European STOXX 600 …

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• 3 January 2024 12:49 pm

  USD stabilizes as risk appetite declines

  

  The dollar experienced a slight decline on Wednesday, despite remaining near its highest level in two weeks. This was supported by factors such as rising US Treasury yields and caution in risk appetite, impacting Wall Street. Trading activity was relatively thin in Asia due to the holiday in Japan. The …

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• 3 January 2024 11:15 am

  Oil prices rise due to continued shipping tensions through the Red Sea

  

  Oil prices experienced a slight increase in early Asian trading on Wednesday, driven by ongoing concerns about shipping disruptions in the Red Sea and escalating tensions in the Middle East. As of 0004 GMT, Brent crude rose by 26 cents, or 0.4 percent, reaching $76.11 per barrel, while US West …

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• 3 January 2024 1:22 am

  Market Drivers – US Session, January 3, 2024

  

  On Tuesday, the US dollar emerged victorious overall, with a strong appreciation vs all of its main competitors. By the end of 2024, investors were back in the USD due to signals of slowing global growth. S&P Global published the Manufacturing PMIs for December for a number of significant economies, …

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• 3 January 2024 1:20 am

  WTI falls by 1% after briefly surging

  

  Earlier on the trading day, oil rose on the back of news reports about ship attacks near Yemen. However, economic data continues to soften. OPEC production unexpectedly increased, further pressuring WTI bids. News reports of ongoing attacks on cargo ships off the coast of Yemen sparked a brief rally in …

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• 3 January 2024 12:52 am

  GBP/USD sees retreats on stronger dollar ahead of jobs data

  

  The GBP/USD pair fell below the 20-day SMA, reaching 1.2320. The US dollar’s recovery was fueled by rising yield rates and a risk-off market mood. December’s labour market figures are expected to influence Fed’s next monetary policy decisions. If the US economy continues to show resilience, the pair is likely …

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• 2 January 2024 11:52 pm

  Traders’ Attention Shifts To FOMC Minutes, JOLTS Report

  

  On Wednesday, traders’ attention will be centered on US economic data, with bets on the direction of interest rates continuing, as earnings and updates are once again scarce.Fed is determined to monitor emerging economic data before indicating any changes to future monetary policy, so the Job Openings and Labour Turnover …

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• 2 January 2024 11:14 pm

  Canada’s dollar slides against US counterpart on PMI data

  

  The Canadian Dollar is easing back against the US Dollar as the 2024 trading year begins, with the Canadian S&P Global Manufacturing Purchasing Managers’ Index (PMI) falling to a 43-month low. The US Manufacturing PMI component also fell below expectations, keeping market risk appetite low and propping up the US …

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• 2 January 2024 9:51 pm

  Wall Street begins 2024 down on surging yields rise

  

  The first trading session of 2024 saw a decline in the US stock market as investors lowered their expectations for interest rate cut this year. Tuesday’s drop in Apple shares is due to a downgrade by Barclays. Tesla continues to deliver record numbers in Q4. The drab beginning comes after …

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• 2 January 2024 8:34 pm

  Swiss Franc weakens against the US Dollar on first 2024’s trading

  

  On first 2024’s trading, the Swiss franc starts losing ground against the US dollar as the latter strengthened due to rising Treasury yields. This implies that bond traders might be indicating that they believe the inflation outlook will be more difficult than anticipated. Higher US Treasury rates, which have increased …

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• 2 January 2024 7:46 pm

  Gold declines, still within bullish zone on rate cut bets

  

  Gold prices are gaining momentum for 2024, with prospects of a Fed interest rate reduction starting in March. Factors boosting rate-cut hopes include a 2% decline in underlying inflation and easing labor market conditions due to restrictive monetary policy. However, the precious metal faces a marginal sell-off as the US …

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