Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 3 April 2024 6:54 pm

  USD/CHF retreats following dismal US Services PMI

  

  The USD/CHF pair is facing selling pressure near 0.9100 due to weak ISM Services PMI data from the United States Institute of Supply Management (ISM). The Services PMI, which represents the service sector, fell to 51.4 from expectations of 52.7 and the prior reading of 52.6. The US Dollar has …

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• 3 April 2024 4:22 pm

  Inflation in the Eurozone unexpectedly declines, increasing the chances of a rate cut

  

  Euro zone inflation unexpectedly fell last month, providing the European Central Bank (ECB) with greater flexibility to consider cutting interest rates from their historically high levels. In March, consumer price growth in the 19 countries that use the euro slowed to 2.4 percent from 2.6 percent in the previous month. …

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• 3 April 2024 1:31 pm

  Japan’s Nikkei index closed lower

  

  Japan’s Nikkei index closed lower on Wednesday, affected by a decline in the shares of Fast Retailing, which owns the Uniqlo supermarket chain, in addition to a decline on Wall Street on Tuesday night. Shares of technology companies fell, tracking their counterparts in the United States, and the strong earthquake …

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• 3 April 2024 12:08 pm

  European stocks stabilize ahead of inflation data

  

  Traders traded European stocks in a narrow range on Wednesday and remained cautious ahead of a key inflation report that could affect expectations about the timing of the European Central Bank’s first interest rate cut. The European STOXX 600 index was flat at 0715 GMT. After the inflation report in …

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• 3 April 2024 10:38 am

  Oil prices rise as supply concerns weigh on the market

  

  Oil prices extended gains on Wednesday, as a larger-than-expected decline in US crude inventories and escalating geopolitical tension raised investor concerns about tight supplies. Brent crude futures for June delivery rose 20 cents, or 0.22 percent, to $89.12 a barrel, while US West Texas Intermediate crude futures for May delivery …

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• 3 April 2024 2:11 am

  Market Drivers; US Session, April 2

  

  As European investors got back to work after the long Easter break, the US dollar declined from its recent highs, providing some much-needed relief in the risk-linked world. The USD Index (DXY) dropped to 104.70 from recent heights over 105.00 as a result of fresh selling pressure on the US …

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• 3 April 2024 1:52 am

  Will Bitcoin Rally Following Halving Event?

  

  Bitcoin halving is a scheduled event that takes place every almost four years and its main result is to lower the reward for miners in order to validate transactions by fifty percent. The protocol of Bitcoin includes this method to limit the rate of inflation and guarantee a limited number …

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• 3 April 2024 1:04 am

  Oil-linked Stocks Surpass Big Tech Ahead of Crucial OPEC+ Meeting

  

  Big Tech’s reign over the market might was remarkable since the onset of this year, but this pioneering role is facing a challenge now as assets linked to oil, and broadly energy are surpassing the performance of Wall Street’s Big Tech. After a stellar first quarter, energy stocks have roared …

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• 3 April 2024 12:15 am

  Amid Rising T-yields, Geopolitical Concerns, Gold Reaches Fresh All-Time High

  

  Gold has reached an all-time record high of $2,280 due to geopolitical tensions and strong US data. The recent attack of Israel against an Iran embassy in Syria on April 1 supported Gold’s rise despite higher US Treasury yields and a strong US Dollar. Economic data from the US prompted …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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