Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 17 January 2024 8:06 pm

  IMF: US economy has seen 75% of Fed hikes’ impact

  

  According to the International Monetary Fund, the US economy has already experienced about 75% of the effects of tighter monetary policy, with the rest expected to pass through this year. The Eurozone has more transmission to come due to interest rate hikes starting later. The US economy maintained stronger growth …

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• 17 January 2024 5:12 pm

  Major banks expect China’s economic growth to slow in 2024

  

  Major global investment banks have collectively forecasted a slowdown in the growth of China’s economy in 2024 compared to its growth rate in 2023, which fell below market expectations. Here are the growth expectations for China in 2024 from various banks: JPMorgan (NYSE: JPM): Expects China’s growth to slow to …

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• 17 January 2024 4:14 pm

  Annual inflation in the euro area rises to in December 2023

  

  Annual inflation in the euro zone increased to 9.2% in December 2023, marking a notable rise from its lowest level in over two years, which was 2.4% in November. This upward movement represents the first increase in inflation since April and is primarily attributed to energy-related base effects. Energy prices …

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• 17 January 2024 2:49 pm

  European stocks fell after the European Central Bank’s statements

  

  European stocks experienced a sharp decline at the beginning of Wednesday’s trading session, influenced by statements from European Central Bank officials that diminished expectations of interest rate cuts. Additionally, lower-than-expected Chinese economic data contributed to a negative market sentiment. The European STOXX 600 index dropped by 1.2 percent as of …

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• 17 January 2024 1:32 pm

  Dollar is at a one-month high as interest rate cut expectations decline

  

  The dollar index remained at its highest level in a month against a basket of currencies on Wednesday, as remarks from Christopher Waller, a member of the Federal Reserve Board of Governors, tempered expectations of an interest rate cut in March. Waller stated on Tuesday that, while the United States …

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• 17 January 2024 12:34 pm

  Oil prices decline as a stronger dollar offsets the risks of Red Sea unrest

  

  Oil prices fell on Wednesday as a stronger dollar curbed demand for crude denominated in the US currency, but increasing risks of supply disruptions amid the raging conflict in the Red Sea limited losses. Brent crude futures fell 36 cents, or 0.5 percent, to $77.93 per barrel by 0215 GMT. …

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• 17 January 2024 1:16 am

  Market Drivers – US Session, January 16, 2024

  

  The US dollar was strongly supported by investors’ diminishing speculation about Fed interest rate cuts as US markets returned to a regular schedule. Meanwhile, the European currency was eventually affected by ECB officials’ continued disagreement with market perceptions regarding the timing of rate reductions. It is anticipated that Fedspeak, US …

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• 17 January 2024 12:58 am

  GBP/USD declines after UK jobs data

  

  The GBP/USD pair fell to a near-term low of 1.2620 in Tuesday trading, as broader markets shifted their focus from upbeat economic data to bidding up the US Dollar, sending the Pound Sterling into the new year’s lows. Broad-market bets of a rate cut from the Bank of England are …

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• 16 January 2024 11:41 pm

  US Dollar Has Touched Highest Level Since December

  

  The DXY Index surged around 103.40, marking the highest level the US Dollar has been since mid-December. This was mostly caused by US traders coming back from vacation, which was further supported by a gradual increase in yields. Markets are pricing in another rate decrease in May as part of …

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• 16 January 2024 10:35 pm

  Oil prices almost unchanged amid stronger US dollar

  

  Oil prices remained stable on Tuesday, with the US dollar reaching its highest in a month and concerns about the impact of Middle East tensions on energy supplies supported by the stronger dollar. WTI crude futures settled at $72.40 a barrel, down 28 cents or 0.4% from Friday’s settlement. Brent …

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• 16 January 2024 9:58 pm

  Wall Street declines amid soaring earnings

  

  Tuesday saw a decline in US stocks as investors continued to monitor the direction of interest rates following a mediocre start to the earnings season that was marked by significant bank results.The S&P 500 fell 0.2% and the Dow Jones Industrial Average fell 0.4%. Despite briefly entering positive territory during …

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• 16 January 2024 9:05 pm

  Gold trades around $2035 amid interest rate bets, geopolitical uncertainty

  

  The price of gold is trading around $2,035.03 per ounce at the time of writing. That’s down 0.94% since yesterday’s gold price per ounce and down 1.39% from the beginning of the year. The lowest trading price within the last 24 hours: $2,031.51 per ounce. The highest gold spot price …

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• 16 January 2024 8:18 pm

  Fed’s Waller: Fed to discuss policy cuts in 2024 on near-term data

  

  Fed Governor Christopher Waller has warned that despite data developments in the inflation outlook allowing the Fed to begin outlining plans for rate cuts looking forward, markets shouldn’t be expecting the Fed to rush anytime soon.Money markets adjusted rate cut bets after Waller’s notes, Fed swaps now see 15 basis …

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