Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 26 January 2024 5:27 pm

  Gold is heading for its second consecutive weekly decline

  

  Gold prices rose during trading today, Friday, the twenty-sixth of January, but they are heading towards recording the second weekly losses in a row, amid the rise of the dollar supported by positive economic data. The US economy grew more than expected during the last quarter of 2023, by about …

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• 26 January 2024 2:56 pm

  European stocks open higher supported by quarterly results

  

  European markets opened higher on Friday, bolstered by positive quarterly results from luxury goods group LVMH and French liquor company Remy Cointreau. Traders were also evaluating the prospects of interest rate adjustments, a day after the European Central Bank (ECB) maintained its existing interest rates. As of 0819 GMT, the …

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• 26 January 2024 12:56 pm

  Oil prices are heading for weekly gains supported by US growth data

  

  Oil prices retreated on Friday, but they were poised to register their most significant weekly gains since October, buoyed by positive economic data from the United States and signals of Chinese stimulus that supported oil demand. Brent crude futures declined by 0.57%, or 47 cents, settling at $81.96 per barrel …

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• 26 January 2024 11:54 am

  Japan’s Nikkei declines, erasing week’s gains amid chip sector losses

  

  On Friday, Japan’s Nikkei index closed lower, reversing the gains it had accumulated earlier in the week. The index lost 1.34%, closing at 35,751.07 points, marking a 0.59% decline for the week and breaking a two-week streak of gains. At the start of the day, the index had shown a …

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• 26 January 2024 2:39 am

  Market Drivers – US Session, Jan. 25

  

  While Gold prices remained stuck in their current consolidative range, Silver prices rebounded further and clinched their third straight day of gains, this time flirting with the $23.00 mark per ounce.Firmer-than-expected US GDP figures have provided support to the US Dollar and further reinforced the already resilient stance of the …

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• 26 January 2024 1:26 am

  WTI hovers around $77.00 with positive momentum as focus shifts to US PCE

  

  WTI price is expected to close the week in a positive territory due to multiple factors. US GDP data contributed support to reinforcing oil prices. PBoC’s strategy to inject liquidity into the economy contributes to the strength in oil prices.Chinese officials asked their Iranian counterparts to help restrain attacks on …

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• 26 January 2024 12:27 am

  Treasury yields decline following data supporting Fed’s soft landing

  

  US Treasury bond yields have been declining since the beginning of trading on Wall Street, after US economic data favouring the “flexible landing” scenario and that the Federal Reserve could be closer to achieving it.Ten-year US Treasury bond yields fell to 4.131%, compared to the last daily close, which recorded …

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• 25 January 2024 11:20 pm

  Canadian dollar benefits from surging oil prices

  

  The Canadian dollar was able to regain the upward trend after the improvement in risk in global financial markets following positive US economic data that suggested the “soft landing” scenario and that the Federal Reserve’s approach to achieving it is still possible.Oil futures concluded Thursday’s trading in an upward direction …

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• 25 January 2024 10:14 pm

  EUR/GBP experiences losses post ECB rate decision

  

  The EUR/GBP pair is standing at 08536 at the time of writing, down -0.20%, earlier on the day it was at almost 0.8530, down by 0.30%. The ECB held rates steady as expected. Christine Lagarde refrained from commenting on the timing of the ECB rate cuts. Monetary policy divergences are …

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• 25 January 2024 8:58 pm

  Gold attempts to recover after higher-than-expected US GDP data

  

  After the most recent data revealed that the US economy grew faster than anticipated and that inflation came in lower than expected, gold prices are trading at session highs during the North American session. The yellow metal is trading at $2014.39 per ounce at the time of writing.The US economy …

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• 25 January 2024 8:34 pm

  PCE Data Preview: Forecasts by major banks, US inflation seen toward target

  

  Fed’s preferred inflation gauge, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Friday, January 26 at 13:30 GMT and as we get closer to the release time, here are the forecasts of economists and researchers of eight major banks. Headline …

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• 25 January 2024 7:41 pm

  Lagarde looks optimistic about ‘disinflation process’

  

  The European Central Bank President, Christine Lagarde, has warned that rapid wage growth is slowing in the eurozone, with interest rates holding at 4%. According to Lagarde, disinflation process is at work, and the pick-up in inflation in December was weaker than expected. Lagarde also noted that price pressures would …

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• 25 January 2024 5:37 pm

  ECB holds key rates unchanged in January

  

  The European Central Bank (ECB) announced on Thursday that it has decided to maintain key interest rates unchanged following its January policy meeting. The interest rate on the main refinancing operations will stay at 4.50%, the interest rate on the marginal lending facility at 4.75%, and the deposit facility rate …

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