Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 18 January 2024 9:14 pm

  ECB talking points drag Euro lower as investors rebalance their positions

  

  The Euro declines versus the majority of its major currency peers as most Euro investors adjusted their position. Both the Federal Reserve and the European Central Bank have made a major verbal effort to dampen market expectations for a faster rate-cutting pace. Both European and American policymakers issue a warning, …

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• 18 January 2024 8:01 pm

  Canadian dollar back to familiar levels amid focus on significant data

  

  The Canadian dollar is trading at relatively stable levels, with broad-market flows leading the way in the latter part of the trading week. Although the Canadian currency has generally appreciated this week, it is still weaker than the US dollar, which has outperformed since Monday’s opening bids.Canada will see Retail …

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• 18 January 2024 7:03 pm

  US sanctions companies shipping commodities for Iran

  

  The Department of the Treasury sanctioned two companies this month for secretly exporting Iranian commodities on behalf of the Islamic Revolutionary Guard of Iran. The companies, one based in China and the other in the United Arab Emirates, forged documents for four commercial vessels, allowing them to traverse international waters …

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• 18 January 2024 3:09 pm

  Maersk: bottlenecks due to bad weather in Europe and disturbances in the Red Sea

  

  In a recent client update, A.P. Moller-Maersk highlighted the adverse impacts of weather disruptions in northern European ports and the rerouting of ships away from the Red Sea. The company cited bottlenecks at container receiving berths due to these factors. Vessels were redirected from the Red Sea and the Gulf …

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• 18 January 2024 1:35 pm

  Dollar is near the highest level in a month as interest rate cut bets decline

  

  The dollar maintained its position near a one-month high against major currencies on Thursday, supported by robust US retail sales data that reinforced expectations of a more measured approach to interest rate cuts by the Federal Reserve. The dollar index, gauging the greenback against a basket of six major currencies, …

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• 18 January 2024 12:49 pm

  Oil prices rise thanks to OPEC demand forecasts and cold weather affecting US production

  

  Oil prices experienced an increase on Thursday, buoyed by OPEC’s optimistic forecast for robust global oil demand growth over the next two years. Brent crude futures rose by 28 cents to reach $78.16 per barrel, while US West Texas Intermediate crude futures increased by 34 cents, reaching $72.90. According to …

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• 18 January 2024 11:51 am

  Gold rises as the dollar declines and Treasury yields fall

  

  Gold prices rose on Thursday against the backdrop of a decline in the dollar and a decline in US 10-year Treasury bond yields, but remained near their lowest levels in five weeks as investor optimism about cutting interest rates faded after tough comments from a Federal Reserve official and strong …

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• 18 January 2024 2:19 am

  Market Drivers – US Session, Jan. 17

  

  The USD Index (DXY) reached a new yearly high in due to adjusted expectations of a rate cut by the Fed in March. This was in line with an additional narrative that suggested the ECB also could hold off on cutting rates until the summer, which ultimately seems to have …

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• 18 January 2024 2:10 am

  Stocks decline on retreating rate bets post-retail sales report

  

  Wall Street stocks finished lower on Wednesday after upbeat December U.S. retail sales data eroded expectations the Federal Reserve will kick off its rate-cut campaign as early as March. The benchmark S&P 500, fell to its lowest in over a week. Amazon,, Nvidia, and Alphabet dipped between 0.5% and 1% …

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• 18 January 2024 12:15 am

  Inflation Data, Lagarde’s Comments Rattle Global Stocks

  

  Global stocks and bond markets retreated on Wednesday as investors scaled back expectations of swift interest rate cuts in the eurozone, the UK, and the US. European Central Bank president Christine Lagarde signaled borrowing costs would come down in summer rather than spring, following the first rise in UK inflation …

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• 17 January 2024 11:53 pm

  Gold retreats as fresh US data boosts US dollar

  

  Strong US Retail Sales figures and a spike in US Treasury yields have continued to drive down gold prices, which have lost more than 1.11% of their value. Gold’s decrease is partly due to the US Dollar Index’s upward trajectory, which reached a five-week high, and hawkish remarks made by …

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• 17 January 2024 11:17 pm

  Fed’s Beige Book reveals economic activity decline in recent weeks

  

  The US economic activity showed “little or no change” in recent weeks for most of the Federal Reserve’s 12 districts, amid signs that the labour market was cooling in most of the country’s regions, the central bank said on Wednesday in its Beige Book survey of regional business contacts.Consumer spending …

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• 17 January 2024 10:40 pm

  GBP/USD recovers on UK CPI despite strong US data

  

  GBP/USD surged by 0.25% as a result of the UK’s surprise 4% annual increase in inflation. GBP’s upside is limited by obstacles such as the moderate rate of cut by the Fed and the improvement in US retail sales. In contrast to the anticipated Fed rate decrease in March, the …

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