Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 2 April 2024 10:31 pm

  After winning Q1, Dow loses over 450 points amid rough start of Q2

  

  The Dow dropped 488 points, or 1.2%. The benchmark had dropped more than 500 points. The S&P 500 dropped 0.9%, while the Nasdaq Composite dropped 1.1%. Stocks had a difficult start to the second quarter as sticky inflation data from last week’s end and some positive economic data on Monday …

  Read More »
• 2 April 2024 9:24 pm

  AUD/USD retreats following upbeat US data

  

  The Australian dollar’s recovery is losing momentum, as US data beats expectations. US Factory Orders and JOLTS Job Openings endorse the view of a robust economy in the United States with a tight labour market. The AUD/USD pair is up 0.31%, trading at 0.6509 at the time of writing.Cleveland Fed …

  Read More »
• 2 April 2024 7:42 pm

  Sterling Reaping Fruit of Upbeat UK Data

  

  The Pound Sterling has reacted positively to the strong UK Manufacturing PMI, which showed a 1.3% increase in March, the slowest pace since December 2021. The UK’s Manufacturing PMI landed above the 50.0 threshold, marking expansion from contraction at 50.3, higher than expectations and the former reading of 49.9. The …

  Read More »
• 2 April 2024 6:32 pm

  US JOLTS Job Openings edge higher than forecast

  

  The number of job openings on the last business day of February stood at 8.75 million, the US Bureau of Labour Statistics (BLS) reported in the Job Openings and Labour Turnover Survey (JOLTS) on Tuesday. This reading followed 8.74 million (revised from 8.86 million) openings in January and came in …

  Read More »
• 2 April 2024 4:28 pm

  Gold rises to an unprecedented level

  

  Gold prices surged to a new record high on Tuesday, driven by demand from influential investment funds despite a stronger dollar and expectations of prolonged higher US interest rates. At 1055 GMT, gold rose 0.5 percent in spot trading to $2,262.51 per ounce, after hitting unprecedented levels at $2,266.59. This …

  Read More »
• 2 April 2024 2:50 pm

  Inflation slowed in Germany

  

  Inflation in Germany slowed down in March, reaching a level of 2.3% compared to 2.6% in February 2024. This brings Germany closer to the European Central Bank’s inflation target of 2%. Economists surveyed by Reuters had anticipated that Germany’s harmonized inflation rate would be 2.4% in March, down from 2.7% …

  Read More »
• 2 April 2024 2:12 pm

  Dollar rises amid declining hopes for an early cut in interest rates

  

  The dollar remained near its highest levels in four and a half months against major currencies on Tuesday amid diminishing expectations for the timing of the first interest rate cut by the Federal Reserve (US central bank) this year. While the dollar reached its highest levels in six weeks against …

  Read More »
• 2 April 2024 1:08 pm

  Gold is hovering near an all-time high as dollar consolidates

  

  Gold prices on Tuesday hovered below the record level they reached in the previous session, with the dollar and Treasury bond yields remaining steady after robust US data raised doubts about whether the Federal Reserve (US central bank) would cut interest rates three times this year. By 0624 GMT, gold …

  Read More »
• 2 April 2024 12:41 pm

  Nikkei closed higher despite profit-taking and risks associated with the yen

  

  Japan’s Nikkei index closed higher on Tuesday, briefly surpassing the 40,000-point mark before some gains were trimmed by profit-taking and concerns about potential intervention by Japanese authorities to stabilize the yen. The Nikkei index ended Tuesday’s session up 0.1 percent at 39,838.91 points. Although the index has risen approximately 19 …

  Read More »
• 2 April 2024 10:34 am

  Oil rises thanks to upbeat manufacturing data and rising tensions in the Middle East

  

  Oil prices rose in early Asian trading on Tuesday, buoyed by signs of improving demand and escalating tensions in the Middle East, which pushed US futures to their highest level in five months in the previous session. Brent crude futures for June delivery climbed 37 cents to $87.79 a barrel …

  Read More »
• 2 April 2024 5:08 am

  Market Drivers; US Session, April 1

  

  With some major markets closed on Easter Monday, the US dollar is the clear winner as of late Monday. As the day began, most attention was on growth-related data, with China releasing positive manufacturing production data for March. Still, the news was insufficient to keep investors upbeat.The news on Friday …

  Read More »
• 2 April 2024 3:41 am

  Will Consumer Spending Likely Stop Fed’s Rate Cuts?

  

  Federal Reserve’s officials and policymakers are surely thinking about cutting interest rates, but one important question is yet unanswered: how will consumer spending patterns affect this choice? Generally speaking; higher interest rates would cause consumers and corporations to reduce their expenditure. Stock prices will retreat as a result, and earnings …

  Read More »
• 2 April 2024 2:50 am

  RBA’s Kent: No change to current rundown of balance sheet

  

  Assistant Governor Christopher Kent of the Reserve Bank of Australia stated on Monday that retaining bonds till maturity has no effect on the present balance sheet breakdown. At the time of writing, the AUD/USD pair is trading at 0.6490, up 0.02% on the day.Key Quotes“The outlook for inflation and monetary …

  Read More »