Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 1 February 2024 2:07 am

  Market Drivers – US Session, January 31

  

  US treasuries rallied on Wednesday, owing to slower-than-expected hiring and a surprising loss from New York Community Bancorp, heightening concerns about the sustainability of US regional lenders. New York Community Bancorp wrote down poor bad estate loans, dropping its shares 36% and pushing down regional bank share values across the …

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• 1 February 2024 1:53 am

  Wall Street closes lower following FOMC decision

  

  US stocks experienced a decline on the last trading day in January, as the Federal Reserve held interest rates steady and drew hopes for an interest rate cut as soon as March. The three major US stock indexes were already weighed down by weakness in tech and tech-adjacent megacap stocks …

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• 1 February 2024 1:32 am

  Gold slides below $2040 following Powell’s comments

  

  Fed Chair Jerome Powell has signaled potential rate cuts based on economic progress, stating that there is no rush to change existing monetary policy. The Gold Index has reacted to Powell’s rejection of bets on a March rate cut and emphasis on a cautious approach to managing inflation. Gold prices …

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• 1 February 2024 12:08 am

  Powell: Rate cuts looming, but Fed persistent in avoiding inflation risks

  

  Fed Chairman Jerome Powell quickly summed up where the central bank stands. “We believe our policy rate is likely at its peak for this tightening cycle and that, if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this …

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January, 2024

• 31 January 2024 11:31 pm

  Powell explains decision to hold interest rate steady, speaks on outlook

  

  Fed Chair Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference. Investors, meanwhile have found clues that monetary policy tightening is over. On the daily chart, after FOMC decision, the US …

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• 31 January 2024 11:03 pm

  FOMC keeps US rate policy unchanged for fourth time in a row

  

  At the end of its first meeting in 2024, the Federal Open Market Committee chose to keep interest rates unchanged, as was broadly expected.Investors and market watchers are now focusing on Fed Chair Jerome Powell’s speech and signals about the future path of US monetary policy. Powell will speak at …

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• 31 January 2024 10:42 pm

  Why have Treasury yields declined ahead of FOMC decision?

  

  US treasuries experienced a rally on Wednesday due to slower-than-expected hiring and a surprise loss from New York Community Bancorp, raising concerns about the health of regional lenders. Two- to five-year Treasury yields tumbled more than 10 basis points as traders priced in a higher likelihood of Federal Reserve interest-rate …

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• 31 January 2024 9:57 pm

  Explainer: What rate cuts matter for US economy in 2024

  

  Interest rate cuts could bring relief to consumers and businesses who have been paying more for mortgages, auto loans, credit card debt, and other forms of borrowing as a result of the Fed’s increases. However, rate-weary Americans will likely have to wait a few more months for respite, as Wall …

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• 31 January 2024 8:45 pm

  Alphabet stock dives following lower than expected Google ad revenues

  

  Google parent Alphabet’s stock declines more than 5% after the company reported its Q4 earnings, which missed estimates on ad revenue. The company’s revenue, excluding traffic acquisition costs, was $72 billion, higher than the $63.12 billion generated during the same period in the prior year. However, investors focused on the …

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• 31 January 2024 8:01 pm

  US dollar declines following surprise negative ADP data

  

  Ahead of the Fed meeting, the US dollar experienced a fall following a false positive surge higher. Traders were taken aback by the negative ADP figure. The US Dollar Index is still trapped in its trend, circling the 200-day SMA. At 103.102, the DXY chart shows a loss of -0.031%.The …

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• 31 January 2024 7:40 pm

  Gold surges on weak US jobs data, ahead of FOMC decision

  

  Gold is trading at $2052.99 per ounce at the time of writing. The price of the precious metal surges by 0.77% ahead of the Federal Reserve’s monetary policy announcement, with the focus mainly on the bank’s future interest rate guidance. Expectations for early rate cuts by the Fed increased as …

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• 31 January 2024 5:53 pm

  When might the Bank of England initiate interest rate cuts

  

  The Bank of England (BoE) is expected to acknowledge rapid progress in reducing inflation during its first meeting of 2024. Despite analysts anticipating a hold on interest rates at 5.25%, the central bank’s policy announcement on Thursday will be accompanied by new forecasts, reflecting the projected decline in UK inflation …

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• 31 January 2024 4:43 pm

  Dollar is poised for huge monthly gains ahead of the Fed’s decision

  

  In early European trading on Wednesday, the US dollar maintained its strength, poised for the most significant monthly gain since September. Meanwhile, the euro faced headwinds following weak inflation data, contributing to the dollar’s appeal. Geopolitical tensions in the Middle East and economic data played crucial roles in shaping currency …

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