Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 22 February 2024 4:49 pm

  The Turkish Central Bank keeps interest rates unchanged

  

  Key Points: Turkey’s central bank keeps key interest rate steady at 45 percent.Decision aligns with market expectations post-last month’s rate hike.Central bank prepared to tighten monetary policy if significant and sustained deterioration in inflation expectations emerges.Appointment of Fateh Kara Khan as governor followed the resignation of Hafiza Ghaya Arkan.Monetary tightening …

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• 22 February 2024 3:10 pm

  Germany’s Economic Contraction Deepens in February

  

  Germany witnessed a deepening economic contraction in February, as a modest uptick in services activity failed to offset a significant downturn in the manufacturing sector, according to a preliminary survey published on Thursday. The Standard & Poor’s Global Hamburg Commercial Bank Composite Purchasing Managers’ Index (PMI) plummeted to 46.1 points …

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• 22 February 2024 3:09 pm

  European Stocks Surge to New Record High

  

  European stocks soared to a new record high on Thursday, buoyed by a robust performance in global equities, notably with Japan’s Nikkei index reaching unprecedented levels. The European STOXX 600 index surged to 495.77 points, surpassing its previous peak of 495.46 points set in January 2022. This surge was fueled …

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• 22 February 2024 3:07 pm

  Oil Prices Hold Steady Amid Signs of Supply Shortages

  

  Oil prices experienced a slight uptick on Thursday, maintaining gains from the previous session amidst indications of supply shortages. US West Texas Intermediate (WTI) crude futures inched up by 17 cents to $78.08 per barrel for the next month. Meanwhile, the May contract saw a modest increase of 14 cents, …

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• 22 February 2024 12:49 pm

  Japanese Stocks Hit Record High Amidst Foreign Investment Surge

  

  Japanese stocks surged to a new record high on Thursday, surpassing levels last seen in 1989, as falling valuations and corporate reforms lured foreign investors seeking alternatives to turbulent Chinese markets. The Nikkei index soared by 2.19 percent to close at 39,098.68 points, reaching an intraday peak of 39,156.97 points—exceeding …

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• 22 February 2024 12:48 pm

  Gold rises supported by the decline in the dollar and Middle East tensions

  

  Gold Surges on Weak Dollar and Middle East Tensions Gold prices surged on Thursday, bolstered by a weakened dollar and escalating tensions in the Middle East. Investors eagerly awaited more US economic data for insights into the Federal Reserve’s future interest rate decisions. At 0328 GMT, spot gold climbed 0.1 …

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• 22 February 2024 11:25 am

  Gold Prices Rise Amid Dollar Weakness and Middle East Tensions

  

  Gold prices climbed on Thursday, buoyed by a weakening dollar and escalating tensions in the Middle East. Investors remained attentive to upcoming US economic data, seeking insights into the Federal Reserve’s future interest rate policies. By 0328 GMT, spot gold advanced by 0.1 percent to $2,026.7 per ounce, following yesterday’s …

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• 22 February 2024 2:48 am

  Market Drivers – US Session, February 21

  

  In the face of shifting risk appetite patterns and the FOMC Minutes’ lack of surprises, the dollar somewhat weakened on Wednesday. Meanwhile, speculation about when the Fed could cut interest rates for the first time continued to drive general market mood. In the context of continued increases in riskier assets, …

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• 22 February 2024 2:14 am

  Us stocks enjoy late session rebound after Nvidia’s results

  

  US stocks were able to erase previous losses ahead of Nvidia Corp.’s quarterly numbers, as investors eagerly awaited the firm’s ability to match the high expectations surrounding artificial-intelligence technology. Nvidia has been the poster child of AI enthusiasm, making semiconductor chips that power generative AI and demand for those chips …

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• 22 February 2024 1:52 am

  Nvidia’s Q4 results beat Wall Street’s expectations

  

  Nvidia stock is soaring despite Wall Street’s bad week. Nvidia will pay its next quarterly cash dividend of $0.04 per share on March 27, 2024, to all shareholders of record on March 6, 2024.Nvidia reported earnings after the bell, on Wednesday, beating analysts’ estimates on the top and bottom lines. …

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• 22 February 2024 1:01 am

  FOMC: No rate cuts unless inflation further moderates

  

  The minutes from the most recent meeting of the Federal Reserve indicate that before hiking interest rates, officials will need to see more proof that inflation is heading downward. Though they aren’t prepared to drop rates just yet, policymakers don’t see rates rising during this economic cycle.Several members of the …

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• 21 February 2024 11:50 pm

  US dollar suffers mild loss following FOMC minutes

  

  In the North American session on Wednesday, initially the DXY Index fell below 104.00 following the publication of the minutes from the FOMC meeting in January. At the time of writing the Index records 104.040, it is back above the 104.00 mark but with mild loss.Several FOMC members think interest …

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• 21 February 2024 11:04 pm

  FOMC Minutes: Policymakers expressed caution about cutting rates too quickly

  

  In January 2024, the US Federal Reserve left interest rates unchanged at a 22-year high of 5.25 percent to 5.5% as inflation continues to cool, signaling an end to its rate hiking cycle and possible rate cuts next year. The rate policy meeting summary indicated a general sense of optimism …

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