Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 2 February 2024 10:30 pm

  Explainer: Why have commodities largely fluctuated in January?

  

  In January 2024, financial markets were active and turbulent, with investors initially rejoicing as inflation fell and sectors such as semiconductors saw big gains. However, a hawkish central bank and geopolitical concerns tempered confidence, while dropping oil prices and stricter investment conditions put adverse pressure on investors.Financial markets continued its …

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• 2 February 2024 9:19 pm

  USD/JPY surges to fresh highs post solid US jobs data

  

  The USD/JPY pair is climbing over 0.90% to 148.05 after a strong US jobs report and higher Treasury yields. January’s 353K job additions lessen Fed rate cut forecasts, indicating a tighter labour market.The US 10-year Treasury yield and Dollar Index signal robust confidence in the US economy. The pair is …

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• 2 February 2024 8:46 pm

  S&P 500, Nasdaq leap on soaring tech earnings including Meta

  

  The S&P 500 and Nasdaq rose on Friday due to strong tech earnings and a stronger-than-expected jobs report. The broad market index added 1.3%, while the Nasdaq Composite climbed 1.9%. Meta shares soared over 22% after defying analysts’ expectations. The company announced it will pay a quarterly dividend for the …

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• 2 February 2024 7:56 pm

  Consumer sentiment at highest level since July 2021

  

  Consumer sentiment in the United States has hit its highest point since July 2021, with consumers anticipating increases in both inflation and personal income.According to the University of Michigan’s Surveys on Consumers, the index reached this level after a 13% month-over-month improvement in January, which was preceded by a 14% …

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• 2 February 2024 6:34 pm

  US dollar gets prepared for winning week post surprise NFP data

  

  The US dollar has rallied and was able to hold on to gains after the January Jobs Report, with the US Dollar Index popping over 103 and on track to break 104 soon. At the time of writing the Dollar Index is at the 103.883 mark.The NFP report showed a …

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• 2 February 2024 4:10 pm

  Turkey Reports Significant Reduction in Trade Deficit in January

  

  Analysis of Trade Minister’s Announcement on Economic Indicators Turkey’s Trade Minister, Omer Polat, announced on Friday that the country witnessed a substantial reduction in its trade deficit, marking a positive development for the nation’s economic indicators. According to Polat, the trade deficit shrank by 56.8 percent year-on-year, amounting to $6.17 …

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• 2 February 2024 3:27 pm

  European Stocks Gain Ground on Positive Corporate Reports and Wall Street Momentum

  

  Analysis of Market Movement and Notable Performers As the trading day commenced in Europe, stocks experienced an upward trajectory on Friday, driven by a slew of positive reports from regional companies. The European STOXX 600 index, a broad gauge of European equities, rose by 0.4 percent by 0830 GMT, signaling …

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• 2 February 2024 1:19 pm

  Dollar Retreats on Positive Tech Earnings and Market Optimism

  

  Analysis of Dollar Movement Amidst Positive Market Sentiment On Friday, the US dollar experienced a decline as risk appetite surged, propelled by positive business results from major technology companies on Wall Street. Investors eagerly awaited the release of the closely watched non-farm payrolls report later in the day, seeking insights …

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• 2 February 2024 11:56 am

  Gold Poised for Best Weekly Gains in Nine Weeks as Economic Indicators Drive Market Sentiment

  

  Analysis of Gold’s Performance Amid Dollar Decline and US Economic Data As the week unfolds, gold prices are on track to secure their most substantial weekly gains in nine weeks, buoyed by a combination of factors ranging from a weakening dollar to declining US Treasury bond yields. Investors, closely watching …

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• 2 February 2024 3:42 am

  Market Drivers – US Session, February 1

  

  The US Dollar Index retreated, putting the 103.00 support to the test, dropping back below the important 200-day SMA. On Friday, all eyes will be on January’s nonfarm payrolls, the unemployment rate, factory orders, and the final print of Michigan Consumer Sentiment.Renewed selling pressure in the dollar, combined with more …

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• 2 February 2024 3:18 am

  What could January’s NFP Data bring about in financial markets?

  

  The US Bureau of Labour Statistics will release its jobs report for January on Friday, February 2, and economists and researchers predict a 180,000 rise in Nonfarm Payrolls following the stronger-than-expected 216,000 recorded in December. Investors’ focus now shifts to Friday’s nonfarm payrolls for further clarity on the future of …

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• 2 February 2024 1:03 am

  Middle East talks drag WTI lower after early surge on supply concerns

  

  Crude oil prices were volatile on Thursday due to geopolitical concerns in the one direction towards calmer Middle East, and supply concerns in the other direction; triggering an earlier rally on the day. The likelihood of a negotiated ceasefire in Gaza is growing. The crude oil barrel counts from the …

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• 1 February 2024 10:36 pm

  Canadian dollar eases ahead of NFP data

  

  The Canadian dollar was mixed against major currencies on Thursday, with some gains against the US dollar. Markets are settling following Wednesday’s Federal Reserve outing, which saw Chair Jerome Powell strike a more hawkish tone than expected, knocking equity markets lower and driving risk-off flows into the safe haven US …

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