Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 25 January 2024 2:30 am

  Crypto Lender Nexo sues Bulgaria for $3 billion in damages

  

  A $3 billion arbitration lawsuit has been made against Bulgaria by cryptocurrency lender Nexo, which claims the nation has ruined its reputation and closed off business prospects. December 2023 saw a money laundering investigation into the company by Bulgaria’s prosecutor’s office, which allows the buying and selling of cryptocurrency. Claiming …

  Read More »
• 25 January 2024 12:07 am

  US stocks rally on shining earnings

  

  Earlier in the session, the Nasdaq Composite had surged more than 1%; but, by the afternoon, gains had tapered off to roughly 0.5%. Not only did Netflix lead the way in strong profits, but other major tech companies like Microsoft and Meta also had increases in their stock prices.While the …

  Read More »
• 24 January 2024 10:22 pm

  Strong S&P PMIs fails to boost US dollar

  

  Despite high S&P PMIs, the US dollar is trading at a lower level; down -0.36% as per the DXY Index, which fell, earlier during the North American session to 103.05 as a result. the DXY reading is 103.149 at the time of writing. The The US S&P PMI for January …

  Read More »
• 24 January 2024 9:42 pm

  Canadian Dollar roils as US PMIs overshadow BoC rate decision

  

  The Canadian Dollar has experienced a decline due to the Bank of Canada’s dovish outlook on inflation, with Canadian inflation not expected to return to the BoC’s 2% target until 2025. Money markets have reduced bets of a BoC rate cut in April to 40%, from 65% before the BoC’s …

  Read More »
• 24 January 2024 8:45 pm

  BoC’s Macklem warns from giving false precision about rate cut timing

  

  Tiff Macklem, Governor of the Bank of Canada (BoC), and Senior Deputy Governor Carolyn Rogers explain the BoC decision to leave the interest rate unchanged at 5% after the January policy meeting and respond to questions from the press.Key Quotes“Inflation is still somewhat broad-based and that’s why we’re concerned about …

  Read More »
• 24 January 2024 7:48 pm

  Netflix revenue beats estimates in interesting season

  

  Netflix said Tuesday that its fourth quarter subscriber additions surged, topping its own forecast and sending its stock as much as 14% higher in early trading on Wednesday.The subscriber additions of 13.12 million beat Netflix’s own forecast of about 9 million with full-year 2023 net additions sitting at roughly 30 …

  Read More »
• 24 January 2024 5:33 pm

  ECB Preview: Forecasts from major banks

  

  As anticipation builds for the European Central Bank’s (ECB) upcoming Monetary Policy Decision on Thursday, January 25, financial markets are keenly focused on the potential outcomes and the accompanying commentary from ECB President Christine Lagarde. Here’s an overview of the expectations and analyses provided by economists and researchers from major …

  Read More »
• 24 January 2024 3:30 pm

  Oil Prices Navigate Geopolitical Tensions and Market Dynamics

  

  In a nuanced dance between geopolitical tensions, demand considerations, and currency dynamics, oil prices exhibited mixed movements on Wednesday. The March contract for Brent crude managed a modest rise of four cents, reaching $79.59 per barrel, while US West Texas Intermediate crude mirrored the increase, ticking up four cents to …

  Read More »
• 24 January 2024 2:46 pm

  Gold recovers its losses ahead of US economic data

  

  Gold prices stabilized on Wednesday, recovering from early losses. This coincided with a decline in the dollar from its six-week high and investors awaiting the release of upcoming US economic data. In spot transactions, gold settled at $2,029.39 per ounce, while US gold futures rose 0.2 percent to $2,030.50. The …

  Read More »
• 24 January 2024 1:37 pm

  China reduces bank reserve requirements by 50 basis points

  

  China has pledged to reduce the amount of liquidity its banks must hold in reserves early next month as it attempts to boost its faltering economy. The Chinese central bank said it expects rapid credit growth in the first quarter. Pan Gongsheng, governor of the People’s Bank of China, said …

  Read More »
• 24 January 2024 1:02 pm

  The head of the Turkish Banking Association expects to start cutting interest rates in Q4

  

  Alpaslan Çakir, Chairman of the Turkish Banks Association, anticipates that the Turkish Central Bank will raise interest rates for the final time this week and commence a monetary easing cycle in the fourth quarter of this year. Cakir, in comments made on Tuesday but embargoed until Wednesday, stated, “Rising interest …

  Read More »
• 24 January 2024 12:11 pm

  Japan’s Nikkei declines amid profit-taking selling

  

  Japan’s Nikkei index experienced a decline as profit-taking persisted from the previous session, with traders interpreting the Bank of Japan’s recent meeting as an indication of a continued monetary easing policy. The Nikkei index dropped by 0.8% to 36,226 points, extending the decline from its recent peak of 36,984 points, …

  Read More »
• 24 January 2024 10:12 am

  Bank of Canada to keep rates on hold

  

  Market analysts anticipate that the Bank of Canada will maintain its key overnight rate during its upcoming meeting on Wednesday. Despite this expectation, persistent inflationary pressures have prompted markets to revise their projections for the timing of the next interest rate cut, postponing the possibility of a reduction for the …

  Read More »