Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 1 March 2024 2:40 am

  Market Drivers – US Session, February 29

  

  Amid ongoing indications of inflation losing steam on both sides of the Atlantic and consistent wagers that the Fed and the ECB will cut interest rates at some point this summer, the US dollar’s continuing purchasing pressure put additional pressure on the risk-linked assets. Economic Data The personal consumption expenditures …

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• 1 March 2024 1:26 am

  Gold rallies as T-yields dip following PCE data

  

  Gold prices surged over 0.50% in the North American session after the release of the Fed’s Core Personal Consumption Expenditure Price Index, which confirmed the continued disinflation trend. The data supported the fall in US Treasury bond yields, which correlate inversely to precious metals prices. The Core PCE report showed …

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• 1 March 2024 12:47 am

  Global stocks gain on in-line US inflation, retreating treasury yields

  

  The global equity index advanced on Thursday after anticipated US inflation reading, which provided little surprise for relieved investors and helped push US Treasury yields lower. Wall Street’s major stock indexes rebounded from the previous session’s decline due to investor jitters ahead of the US personal consumer expenditures (PCE) price …

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February, 2024

• 29 February 2024 11:29 pm

  House Passes Funding Extension To Avoid US government shutdown

  

  The House of Representatives has approved a temporary extension of government funding to prevent another deadline to avoid a government shutdown. The short-term extension will fund some government agencies for another week, through March 8, and the remaining agencies until March 22. Senate Majority Leader Chuck Schumer said the Senate …

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• 29 February 2024 10:49 pm

  US dollar advances as markets digest PCE data

  

  The US Dollar Index (DXY) is trading near 104.130, up for Thursday’s session, with the Core PCE Price Index matching predictions. Markets continue delaying rate cuts from the Fed, favoring the Greenback. Personal Consumption Expenditures (PCE) showed no surprises, and the Fed won’t rush to cut rates if there’s no …

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• 29 February 2024 9:39 pm

  USD/CAD slides after PCE data

  

  The USD/CAD pair rose to an intraday high of 1.3597 before backsliding to 1.3541 after US Personal Consumption Expenditure Price Index (PCE) inflation figures printed exactly as markets were hoping. The pair is trading at 1.3583, up 0.06% at the time of writing.Annualized Canadian Gross Domestic Product (GDP) printed above …

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• 29 February 2024 7:42 pm

  How have financial markets react to PCE reading?

  

  After the announcement of the data, the dollar has stabilised in a relatively narrow range. The dollar appears reluctant to break free from the level in any direction, but it is currently trading up 0.05% at 103.969 after fluctuating about 104.00. The PCE data mostly matches expectations. Stocks are up …

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• 29 February 2024 5:17 pm

  Oil Prices Steady as Investors Await US Data and OPEC+ Decision

  

  Introduction: Market Stability Amidst Awaited Economic Indicators Oil prices stabilized on Thursday, with investors exercising caution ahead of anticipated US data releases that are expected to provide insights into interest rate expectations. Additionally, attention remains on the OPEC+ alliance’s decision regarding production cuts. Brent Crude Futures: April Contract Expires Brent …

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• 29 February 2024 3:26 pm

  Turkey’s Economy Surpasses Expectations with 4.5% Growth in 2023

  

  Turkey’s economy exceeded expectations in the fourth quarter of 2023, growing by 4.0 percent, surpassing forecasts despite challenges posed by a slowdown in major trading partners and the impact of devastating earthquakes in February. Full-year growth stood at 4.5 percent, buoyed by robust domestic demand. Fourth Quarter Performance: Resilience Amidst …

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• 29 February 2024 2:35 pm

  Gold Prices Stabilize Ahead of Key US Inflation Data Release

  

  Traders Exercise Caution Ahead of Crucial Economic Indicators Gold prices stabilized on Thursday as traders exercised caution, refraining from initiating new positions in anticipation of the release of significant inflation data in the United States later in the day. This data is expected to provide further insights into the Federal …

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• 29 February 2024 1:22 pm

  European Stocks Rise Marginally Ahead of US Inflation Data

  

  European Markets Show Modest Gains Amid Anticipation of Key Economic Data European stocks opened slightly higher on Thursday, with the STOXX 600 index edging up by 0.2 percent by 0820 GMT. Materials stocks led the gains as investors braced for the release of crucial US inflation data, which could provide …

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• 29 February 2024 12:10 pm

  Nikkei Ends Lower on Profit-Taking, Yen Strength, and Foreign Selling

  

  Japan’s Nikkei index experienced a modest decline on Thursday, as investors opted to capitalize on recent gains, leading to profit-taking activities. However, the index managed to recover from its early losses, supported by buying demand after dipping below the 39,000-point mark for the first time since late February. The yen’s …

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• 29 February 2024 11:23 am

  Oil Prices Extend Losses Amid Rising US Crude Inventories and Interest Rate Concerns

  

  Oil Markets Face Pressure from Surging US Crude Inventories and Interest Rate Uncertainties Oil prices continued their downward trajectory on Thursday, extending losses from the previous session. The market was weighed down by a larger-than-expected growth in US crude inventories, signaling potential challenges to demand, alongside indications of sustained high …

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