Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 19 January 2024 12:15 pm

  Core inflation in Japan at a 41-year high

  

  Japan’s core Consumer Price Index (CPI) surged by 3.1% last year, marking its highest level since 1982. Data released by the Ministry of Internal Affairs and Communications on Friday, January 19, revealed that the consumer price index, excluding fresh food items, witnessed a 2.3% year-on-year increase in December. This was …

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• 19 January 2024 12:00 pm

  Oil prices fell due to concerns about Chinese demand

  

  Oil prices experienced a decline on Friday following a recent uptick. Geopolitical tensions and disruptions in US oil production due to a cold snap were counteracted by concerns over slowing demand growth in China and expectations of increased supply. As of 0420 GMT, Brent crude futures dropped by 23 cents, …

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• 19 January 2024 4:08 am

  Market Drivers – US Session, January 18

  

  Thursday was the day of robust data. Strong data, rate cut bets bolstered the US dollar again. Another positive set of results in US key indicators boosted the upside bias in the US dollar and underpinned the tighter-for-longer narrative around the Fed. The same view seems to emerge around the …

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• 19 January 2024 3:50 am

  What are year-end bonuses telling about US economy?

  

  US workers are receiving smaller cash bonuses this year, indicating that employers are less concerned about losing talent than in recent years. The average cash bonus paid to employees last month was $2,145, down 21% from the previous year, according to payroll software company Gusto. Every industry posted a decline, …

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• 19 January 2024 1:43 am

  Gold price climbs on high safe haven demand

  

  As of this writing, the price of gold has increased by +0.85 to around $2023 per ounce, indicating that investors are still waiting for more information regarding the US Federal Reserve’s future course for interest rates.High demand for safe haven assets during the Middle East crisis has helped gold. It …

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• 19 January 2024 12:07 am

  Swiss Franc turns sharply bearish after SNB Chief’s warning

  

  The Swiss Franc is experiencing one of its worst weeks in over one year, with concerns mounting that the strength of the Swiss Franc could hamper policy transfer. The Swiss National Bank Chairman Thomas Jordan warned that an appreciating Franc could harm the Swiss economy, sending inflation rapidly lower. The …

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• 18 January 2024 10:52 pm

  Apple leading Nasdaq’s surge

  

  Tech companies, particularly Apple, have significantly boosted the US stock market; leading the Nasdaq Composite and reversing most of its early 2024 losses. The tech-heavy Nasdaq jumped 0.6%, while the S&P 500 climbed 0.1%.Apple shares increased by over 2% after Bank of America upgraded the stock to buy, calling for …

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• 18 January 2024 10:04 pm

  US bond yields continue to rise

  

  US Treasury bond yields have continued to surge since the beginning of daily trading on Thursday, driven by the improvement shown by data that highlighted an improvement in the housing sector as well as in the labour market in the United States.Ten-year US Treasury bond yields rose to 4.140% compared …

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• 18 January 2024 9:14 pm

  ECB talking points drag Euro lower as investors rebalance their positions

  

  The Euro declines versus the majority of its major currency peers as most Euro investors adjusted their position. Both the Federal Reserve and the European Central Bank have made a major verbal effort to dampen market expectations for a faster rate-cutting pace. Both European and American policymakers issue a warning, …

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• 18 January 2024 8:01 pm

  Canadian dollar back to familiar levels amid focus on significant data

  

  The Canadian dollar is trading at relatively stable levels, with broad-market flows leading the way in the latter part of the trading week. Although the Canadian currency has generally appreciated this week, it is still weaker than the US dollar, which has outperformed since Monday’s opening bids.Canada will see Retail …

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• 18 January 2024 7:03 pm

  US sanctions companies shipping commodities for Iran

  

  The Department of the Treasury sanctioned two companies this month for secretly exporting Iranian commodities on behalf of the Islamic Revolutionary Guard of Iran. The companies, one based in China and the other in the United Arab Emirates, forged documents for four commercial vessels, allowing them to traverse international waters …

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• 18 January 2024 3:09 pm

  Maersk: bottlenecks due to bad weather in Europe and disturbances in the Red Sea

  

  In a recent client update, A.P. Moller-Maersk highlighted the adverse impacts of weather disruptions in northern European ports and the rerouting of ships away from the Red Sea. The company cited bottlenecks at container receiving berths due to these factors. Vessels were redirected from the Red Sea and the Gulf …

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• 18 January 2024 1:35 pm

  Dollar is near the highest level in a month as interest rate cut bets decline

  

  The dollar maintained its position near a one-month high against major currencies on Thursday, supported by robust US retail sales data that reinforced expectations of a more measured approach to interest rate cuts by the Federal Reserve. The dollar index, gauging the greenback against a basket of six major currencies, …

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