Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 21 February 2024 11:04 pm

  FOMC Minutes: Policymakers expressed caution about cutting rates too quickly

  

  In January 2024, the US Federal Reserve left interest rates unchanged at a 22-year high of 5.25 percent to 5.5% as inflation continues to cool, signaling an end to its rate hiking cycle and possible rate cuts next year. The rate policy meeting summary indicated a general sense of optimism …

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• 21 February 2024 10:47 pm

  EUR/USD softer ahead of FOMC minutes

  

  The EUR/USD pair drifted into the midrange on Wednesday. The pair is trading at 1.0812, up +0.05%, but is on the soft side as traders wait for the minutes of the latest Fed’s policy meeting. It is unlikely that the Fed will deliver anything new for traders to chew on …

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• 21 February 2024 9:56 pm

  USD/CAD declines ahead of FOMC minutes

  

  During the North American day, the Canadian dollar is trading quietly, with the USD/CAD exchange rate currently down 0.07% at 1.3517. In the hopes of learning more about the Fed’s potential future interest rate path, investors are eagerly awaiting the release of the FOMC January meeting minutes later today.After the …

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• 21 February 2024 8:48 pm

  Gold price extends upside amid increasing geopolitical uncertainty

  

  As the US dollar remains under pressure ahead of the publication of the FOMC minutes, the price of gold advances on geopolitical tensions and investors are awaiting FOMC minutes for cues on the outlook of the US rate policy. Gold is trading at $2025.48 per ounce at the time of …

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• 21 February 2024 7:47 pm

  US Dollar pressured ahead of FOMC minutes

  

  Ahead of the FOMC minutes and the US opening bell, the US dollar is trading in the red. The Dollar Index recovers from Tuesday’s loss and trades back over 104. The US Dollar Index (DXY) shows that the dollar is down and that it is once more on the verge …

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• 21 February 2024 4:53 pm

  Oil declines as investors consider the prospects of a US interest rate cut

  

  Oil prices faced continued downward pressure on Wednesday, extending losses from the previous session amid growing expectations that the Federal Reserve may delay interest rate reductions. These expectations overshadowed concerns about recent attacks on shipping in the Red Sea. Brent and West Texas Intermediate Decline Brent crude futures declined by …

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• 21 February 2024 2:44 pm

  European stocks decline under the weight of disappointing business results

  

  European stocks experienced a downturn on Wednesday, primarily influenced by a drop in banking stocks following disappointing business results from HSBC. Investors also awaited data on consumer sentiment in the euro zone, further contributing to market uncertainty. Banking Sector Leads Decline:The banking services sector witnessed a notable 1 percent decline, …

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• 21 February 2024 1:26 pm

  Dollar Declines Amidst Global Treasury Bond Yield Drop Rate Cut Persists

  

  The dollar experienced a broad decline on Wednesday, influenced by a global downturn in Treasury bond yields. Traders eagerly awaited the release of the Federal Reserve’s latest policy meeting minutes, seeking insights into the central bank’s stance on interest rates. Yen Strengthens as Dollar Dips Below 150:In Asian trading, the …

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• 21 February 2024 12:25 pm

  Japan’s Nikkei ends a rising wave as markets worry ahead of Nvidia’s earnings release

  

  Investor anticipation gripped the Tokyo Stock Exchange’s Nikkei index for the second consecutive day as it failed to surpass its all-time high. With market sentiment swaying on the impending financial report from US chip giant NVIDIA, the index struggled to maintain momentum amidst global uncertainties. Market Movement:Despite an initial rebound, …

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• 21 February 2024 11:08 am

  Oil rises amid Red Sea attacks and weak US interest rate cut expectations

  

  Oil prices regained some of their gains in early Asian trading on Wednesday, as investors balanced fears of major producers reducing production and attacks on cargo ships in the Red Sea with weak expectations for a cut in US interest rates. Brent crude futures rose 12 cents, or 0.15 percent, …

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• 21 February 2024 5:00 am

  Market Drivers – US Session, February 20

  

  The US Dollar has weakened amid speculation that the Federal Reserve will delay the first rate cut. The odds for a 25 basis points (bps) March rate cut have decreased to 34.4%, while June ones have increased to 55.1%. Stock markets are tepid, with Wall Street spending most of the …

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• 21 February 2024 3:33 am

  EUR/USD climbs ahead of FOMC minutes, Eurozone PMIs

  

  Early on Tuesday, the EUR/USD pair moved above 1.0800 and tested the 1.0840 zone. A widespread sell-off of US dollars supports the Euro. Markets are awaiting EU PMIs and Fed meeting minutes.Tuesday saw the EUR/USD pair reach a two-week high just shy of 1.0840 as the dollar widely declined. However, …

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• 21 February 2024 2:14 am

  USD/CAD bounces after Canadian CPI data

  

  The USD/CAD pair experienced early declines before rebounding into an intraday high of 1.3530 after Canadian Consumer Price Index (CPI) inflation fell faster than expected. This softened the Canadian Dollar (CAD) across the board. Markets will focus on the Federal Reserve (Fed) and the Federal Open Market Committee (FOMC) as …

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