Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 9 February 2024 10:20 pm

  Gold expected to register weekly decline on surging T-yields

  

  Under pressure from high Treasury yields, gold fell on Friday and was on track for a weekly decline as investors anticipated US inflation data the next week for further hints about when the Fed will decrease interest rates.At 10:16 a.m. ET (15:16 GMT), spot gold was down 0.4% at $2,025.49 …

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• 9 February 2024 8:51 pm

  S&P 500 sets a new record high as Tech stocks lead Nasdaq’s rally

  

  The S&P 500 opened at a new all-time high above 5,000, with the Technology Sector being the best-performing major sector. The S&P 500 index rose 0.33% to trade at 5,014.3, while the Dow Jones decreased 0.18% to 38,657.35. The Nasdaq gained 0.95% to trade at 15,944. Applied Materials Inc is …

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• 9 February 2024 7:36 pm

  US dollar squashed after lower than expected revised CPI data

  

  The US Dollar is softer after weaker US CPI revisions, with the Dollar Index failing to close above the 100-day Simple Moving Average (SMA) and could slide back below 104. The S&P 500 briefly hit 5,000 after the opening of the trading session, with some risk on creeping in. The …

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• 9 February 2024 4:42 pm

  European Stocks Rise Amid Varied Performances

  

  European stocks saw a mixed but generally positive start to Friday’s trading session, with notable performances in certain sectors offsetting broader market dynamics. Here’s a breakdown of the key movements and factors shaping the early market activity: Modest Rise in European STOXX 600 Index At the open, the European STOXX …

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• 9 February 2024 3:06 pm

  Nikkei Retreats from 34-Year Peak Amid Profit-Taking

  

  The Nikkei index in Japan experienced a mild retreat at Friday’s close, stepping back from its highest level in 34 years as investors opted to cash in on gains. Here’s a breakdown of the key movements and factors influencing the market: Nikkei’s Modest Gain and Intraday High The Nikkei edged …

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• 9 February 2024 1:55 pm

  Yen Slides to Ten-Week Low as Dollar Strengthens

  

  The yen stumbled to its lowest point in ten weeks on Friday, while the dollar continued its upward trajectory for the fourth consecutive week. This shift comes as traders recalibrate their expectations regarding interest rate movements by central banks. Yen’s Decline and Dollar’s Advance The yen exhibited limited movement, hovering …

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• 9 February 2024 12:37 pm

  Germany’s Inflation Eases in January

  

  Germany’s Federal Statistics Office delivered news on Friday that confirmed earlier indications: inflation in the country receded in January, offering a potential reprieve from recent price surges. According to the official data, consumer prices, when harmonized for comparison with other European Union nations, increased by approximately 3.1 percent year-on-year in …

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• 9 February 2024 11:52 am

  Oil prices are heading for weekly gains

  

  In the realm of global markets, oil prices surged in early Friday trading, poised for significant weekly gains against a backdrop of escalating tensions in the Middle East. The region’s geopolitical landscape has been tumultuous, with Israel rejecting a ceasefire proposal from the Palestinian Islamic Resistance Movement (Hamas), further fueling …

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• 9 February 2024 11:12 am

  Gold Prices Stabilize Amid Lunar New Year Holiday

  

  Chinese Markets Closed, Dollar Strength Curbs Safe-Haven Demand Gold prices remained steady in subdued trading as Chinese markets observed the Lunar New Year holiday. Meanwhile, the dollar’s resilience dampened demand for safe-haven assets amid escalating tensions in the Middle East. Current Gold Prices and Market Activity At 0404 GMT, gold …

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• 9 February 2024 5:44 am

  Market Drivers – US Session, February 8

  

  Amid persistent rumours on a Fed interest rate cut in May, growing geopolitical concerns, and some comments implying that the ECB is not in a haste to start reducing rates, shifting trends in risk appetite ruled the mood across traded assets.In the midst of further repricing of an interest rate …

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• 9 February 2024 2:57 am

  Additional $10 increase in crude oil prices expected by May

  

  Crude oil futures rose sharply after Israel rejected a ceasefire offer in Gaza, reinforcing concerns of a wider Middle East conflict. The recent bombing of Rafah by Israeli forces in Gaza has also boosted crude prices. Geopolitical tensions, particularly between the US and Iran, have been a key source of …

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• 9 February 2024 1:50 am

  Gold pressured by US dollar’s gains

  

  Gold futures have declined since the opening of Thursday’s North American trading session due to the rise in the US dollar and renewed geopolitical concerns about the possibility of the war in Gaza expanding to other areas within the Middle East. The US dollar achieved limited gains due to Israeli …

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• 9 February 2024 12:14 am

  S&P 500 briefly hits 5,000 for the first time

  

  The S&P 500 briefly topped the 5,000 milestone for the first time ever, with the broad-based index finishing slightly higher at 4,997.91. The Dow Jones Industrial Average rose 48.97 points, or 0.13%, to end at 38,726.33, while the Nasdaq Composite gained 0.24% to close at 15,793.71. Strong earnings and a …

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