Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 10 January 2024 12:53 pm

  Gold Prices Dip Amidst Dollar and Bond Yield Gains Ahead of Key US Inflation Report

  

  On Wednesday, gold prices experienced a decline, influenced by the ascent of the US dollar and a rise in Treasury bond yields. Investors closely monitored these indicators ahead of the US inflation report, which is anticipated to provide insights into the potential trajectory of interest rate adjustments by the US …

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• 10 January 2024 12:18 pm

  Dollar Holds Steady Ahead of US Inflation Data

  

  In cautious trading on Wednesday, the dollar maintained its position as investors awaited crucial US inflation data later in the week, which could impact Federal Reserve policy. Meanwhile, Bitcoin faced fluctuations after a false social media post caused turmoil in the markets. The US Securities and Exchange Commission (SEC) reported …

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• 10 January 2024 11:56 am

  Nikkei rises to 34-year high at close thanks to technology stocks

  

  Japan’s Nikkei index rose to its highest level in 34 years at the close thanks to the rise in technology companies’ shares, which tracked their American counterparts on Tuesday night, and the decline of the yen led to an increase in the profits of exporters. The Nikkei index jumped 2.01 …

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• 10 January 2024 11:04 am

  Oil Prices Extend Gains Amidst Mixed Inventory Data and Global Tensions

  

  On Wednesday, oil prices continued their upward trajectory from the previous day, supported by data indicating a more significant-than-expected decline in US crude inventories last week. However, gains were tempered by a larger-than-anticipated increase in gasoline and distillate inventories. Brent crude futures saw an increase of 29 cents, or 0.4 …

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• 10 January 2024 3:20 am

  Market Drivers – US Session, January 9, 2024

  

  “The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told US media outlets. A false social media post said that the SEC had approved bitcoin ETFs for trading. The price of bitcoin briefly …

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• 10 January 2024 2:45 am

  Will Avoiding Gov. Shutdown Need Another Congressional Deal?

  

  The ongoing debate on funding this year’s federal obligations, including the US debt ceiling and top line spending cuts, is not over. Some economists believe that the top line figures are not satisfactory and lawmakers are still not satisfied with spending priorities.The current political circumstances in Washington are not conducive …

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• 10 January 2024 2:14 am

  Gold lacks real catalyst ahead of US inflation data

  

  Although gold attracted some buyers on Tuesday, the precious metal struggled to benefit from the move up. The precious metal is trading at $2029.70 per ounce at the time of writing. The Fed’s policy stance is expected to change due to a decrease in consumer inflation expectations, which could potentially …

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• 10 January 2024 1:00 am

  Barr: Fed’s bank funding program came to an end

  

  The Fed’s Bank Term Funding Program, which was launched during last year’s regional banking crisis, is set to end without extension according to Michael Barr, the Fed’s vice chair for supervision.The program, which allowed banks and credit unions to borrow funds for up to a year, has seen a surge …

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• 10 January 2024 12:13 am

  CAD impacted as Canadian Trade Balance falls short

  

  The Canadian dollar has experienced a significant decline, with the International Merchandise Trade and building permits falling more than anticipated. The recovery of the crude oil market is limiting the support of the Canadian currency. The Canadian dollar reached a new low for the week on Tuesday, with markets retreating …

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• 9 January 2024 10:32 pm

  Why have commodities had a challenging year in 2023?

  

  The United States has become the world’s largest exporter of liquefied natural gas for the first time ever, surpassing top suppliers Australia and Qatar. This surge in LNG exports is driven by Freeport LNG’s return to full service and robust global demand, particularly from Europe. With an average of 13.25 …

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• 9 January 2024 10:06 pm

  GBP/USD faces mild losses amid market risk aversion

  

  With losses averaging approximately -0.40%, the GBP/USD pair is trading close to the 1.2695 mark. The US dollar appeared to have recovered from Monday’s earlier decline. Following mixed data last week, markets recalculated Fed expectations as investors focused more on the impending CPI report.The GBP/USD pair saw a decline in …

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• 9 January 2024 9:11 pm

  Hays shares fall after difficult December

  

  Hays, a UK recruitment group, has reported a decline in activity in the UK and Ireland due to a slowdown in the volume of individuals securing permanent roles. The company’s first-half profits are expected to be £60mn, below current market expectations. Hays shares fell as much as 18% on Tuesday …

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• 9 January 2024 8:18 pm

  100,000 firms positively respond to Yellen’s war against dirty money

  

  Treasury Secretary Janet Yellen has announced that 100,000 businesses have joined a new database that collects “beneficial ownership” information on firms as part of a government effort to unmask shell company owners. The database will support law enforcement in making arrests, prosecuting offenders, and seizing ill-gotten assets. The bipartisan Corporate …

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