Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 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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• 16 January 2024 7:30 pm

  UK inflation could slow further

  

  The UK’s Consumer Price Index (CPI) report is set to be released on Wednesday, January 17, with major banks forecasting the upcoming inflation print. The looming data follows a weak November report, with core inflation falling slightly to just below 5% year-on-year for the first time since January 2022. Headline …

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• 16 January 2024 3:31 pm

  Japan’s NYK announces the temporary suspension of the passage of its ships through the Red Sea

  

  Japan’s largest shipping company, Nippon Yusen (NYK Line), has announced the suspension of all its ships’ passage through the Red Sea. The decision comes in the wake of advice from the joint naval force “Guardian of Prosperity” to avoid the region following the recent US and British strikes against Houthi …

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• 16 January 2024 2:04 pm

  Oil rises in light of the escalation of conflict in the Middle East and tankers diverting their course

  

  Oil prices experienced a slight uptick on Tuesday, driven by escalating conflict in the Middle East. Ship tracking data indicated an increased number of tankers diverting away from the Red Sea following attacks by Yemen’s Houthi movement in the region. Brent crude futures saw a rise of 12 cents, approximately …

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• 16 January 2024 12:49 pm

  Gold declines as dollar and Treasury yields rise

  

  Gold faced a marginal decline on Tuesday, influenced by a strengthening dollar and rising US Treasury bond yields. The precious metal saw a 0.2 percent decrease in spot transactions, settling at $2,050.35 per ounce, while US gold futures experienced a modest 0.1 percent increase, reaching $2,054.10. The rise in the …

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• 16 January 2024 12:42 pm

  Dollar rises as traders focus on interest rate bets and tension in the Red Sea

  

  The dollar gained ground on Tuesday as investors tempered their expectations of imminent interest rate cuts by the Federal Reserve, influenced by hawkish comments from European Central Bank officials. Meanwhile, concerns over potential attacks on ships in the Red Sea contributed to a reduced appetite for risk. Here’s a breakdown …

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• 16 January 2024 2:46 am

  

  Market Drivers – US Session, January 15The firm demand for the dollar encouraged the USD Index to add to last Friday’s gains on the back of the resurgence of risk aversion bolstered by geopolitical concerns, particularly in the Middle East. The DXY has extended its consolidative theme in place since …

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• 16 January 2024 2:17 am

  Gold surges above $2050 amid continued geopolitical tensions

  

  Gold price surged due to geopolitical risks in the Middle East. Market expectations of Fed rate cuts in 2024 have boosted Gold’s appeal against a weakening Dollar. The ongoing geopolitical tensions increased risk aversion, with the US and UK retaliating against Iran-backed groups. The US Fed’s increasing odds of cutting …

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• 16 January 2024 1:52 am

  European stocks decline as global Davos kicks off

  

  On Monday, European equities generally lost ground, with the STOXX600 falling by 0.5 percent. In November, the Eurozone’s Industrial Production declined once more. The ECB’s aspirations for rate change continue to be met with a stiff wall from policymakers.To start the new trading week, global market indexes dropped and European …

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• 16 January 2024 12:34 am

  Oil struggles for direction amid geopolitical tensions

  

  WTI is in the red territory after losing -0.39% on Monday, hovering around $72.50. The fundamentals for crude oil are still weakening, and output is still going strong worldwide. The supply routes between Europe and Asia are still being impeded by the Houthi rebels. Earlier on Monday, US crude oil …

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• 15 January 2024 11:13 pm

  Will Davos Discuss What Reforms China Needs To Address Sluggish Growth?

  

  In order to prevent “a fairly significant decline in growth rates,” China must implement fundamental reforms, the chief of the International Monetary Fund cautioned on Monday. At the World Economic Forum in Davos, Switzerland, Kristalina Georgieva told US media outlets that China was confronting both immediate and long-term difficulties.She claimed …

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• 15 January 2024 10:10 pm

  Could Western Sanctions Harm US Dollar?

  

  US Treasury Secretary Janet Yellen has cautioned that the dollar’s hegemony in the world may be threatened by economic sanctions imposed on nations including Russia. According to her, there’s a chance that the dollar’s hegemony will be weakened over time if financial sanctions are tied to it. She did, however, …

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