Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 8 January 2024 12:38 pm

  Dollar consolidates as US inflation data nears announcement

  

  The dollar found stability on Monday as market participants awaited the release of a crucial US inflation data report later in the week. This report is anticipated to offer further insights into the expected monetary policy stance at the Federal Reserve, following a cautious start to the year with diminished …

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• 8 January 2024 11:30 am

  Gold fell with the rise of USD, focus on US inflation data

  

  Gold prices experienced a decline on Monday as expectations of an early US interest rate cut diminished, leading to a strengthening dollar and higher Treasury yields. As investors awaited crucial inflation data later in the week, the precious metal faced headwinds. As of 0556 GMT, the spot price of gold …

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• 8 January 2024 10:33 am

  Oil declines by more than 1%, affected by the reduction in Saudi crude prices

  

  Oil prices experienced a decline of more than one percent on Monday, driven by significant cuts in the official selling prices for Saudi crude and an upswing in OPEC production. Despite escalating geopolitical tensions in the Middle East, these factors weighed more heavily on market sentiment. As of 0344 GMT, …

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• 6 January 2024 12:23 am

  WTI slides below $74 amid geopolitical tensions

  

  The spillover from the Middle East crisis has disrupted crude oil markets, causing cargo ships to be diverted from the Red Sea for the foreseeable future. On Friday, there was a small increase in West Texas Intermediate (WTI) US Crude Oil, which hit 74.27, but a decline in American crude, …

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• 5 January 2024 11:14 pm

  Canadian dollar retreats to new low on jobs data

  

  The Canadian dollar fell to a new low against the US dollar on Friday, but then surged to a three-day high after a strong US Nonfarm Payrolls report crushed market forecasts. Canada’s labour market added fewer jobs than expected, but persistent wage growth accelerated to a two-year high. US Nonfarm …

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• 5 January 2024 9:52 pm

  GBP/USD records fresh 2024 high following NFP data

  

  The Pound Sterling surged against the dollar following the US Nonfarm Payroll data release, which added 216K new jobs in December. Despite revisions to key datasets, markets surged on the NFP forecast-beater, pushing the US Dollar broadly lower and sending the Pound Sterling to a new 2024 high. US Average …

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• 5 January 2024 8:43 pm

  How has US dollar reacted to NFP data?

  

  The Dollar Index is currently trading just above 102.00, showing a downtick of 0.30% due to the markets adjusting dovish bets post the release of December’s Nonfarm Payrolls (NFP) and the ISM PMIs. Earlier on Friday, the dollar experienced a strong reaction to the recent NFP report in the United …

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• 5 January 2024 7:29 pm

  Yellen: Current situation points to a soft landing

  

  According to US Treasury Secretary Yellen, she stated that the pessimism regarding the economy had been proven unwarranted.Yellen noted that certain surveys were starting to indicate increased optimism among Americans.Yellen described the current situation as a “soft landing”, indicating that there was no substantial impact on energy prices from the …

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• 5 January 2024 2:52 pm

  European stocks approach first weekly loss in 8 weeks

  

  European stocks experienced a downturn on Friday amidst a broader market contraction, marking a potential shift towards the first weekly loss in eight weeks. Investors remained on the edge, anticipating key inflation data from the euro zone and eagerly awaited US jobs data, which holds the promise of providing clarity …

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• 5 January 2024 12:05 pm

  US Dollar is heading for its best weekly performance since July

  

  The dollar exhibited a robust performance on Friday, poised to conclude the week with its most significant gain since July. This surge is attributed to diminishing expectations of an imminent and substantial cut in interest rates for the year, a sentiment prevailing in the market ahead of the eagerly anticipated …

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• 5 January 2024 11:16 am

  Gold is heading for its first weekly decline in a month

  

  Gold is poised to register its first weekly decline in a month on Friday, succumbing to the strengthening dollar fueled by diminishing expectations of an imminent interest rate cut in the United States. Investors are eagerly anticipating a pivotal employment report scheduled for later in the day, hoping for additional …

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• 5 January 2024 10:40 am

  Oil rises after Fed

  

  Oil prices rose on Friday after Federal Reserve meeting minutes indicated that inflation was under control as US Secretary of State Antony Blinken prepared for a tour of the Middle East to prevent escalation in the conflict between Israel and Gaza. By 0229 GMT, Brent crude futures rose 37 cents, …

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• 5 January 2024 4:19 am

  Market Drivers – US Session, January 4, 2024

  

  After a solid start to the new trading year, the dollar has declined. During Asian trading hours, investors are predicted to maintain their vigilance, paying particular attention to the Consumer Confidence index and the final Services PMI in Japan. Ahead of the US Nonfarm Payrolls for December, caution is anticipated …

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