Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 30 January 2024 7:14 pm

  ECB’s Makhlouf: We should remain open-minded about rate path

  

  ECB policymaker Gabriel Makhlouf said on Tuesday that the essence of data-dependency suggests that they should remain open-minded about the interest rate path, per Reuters.“With disinflation well underway, we are confident in sustainably reaching our target of 2%,” Makhlouf added. These comments didn’t have any immediate or noticeable impact on …

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• 30 January 2024 3:36 pm

  $73 million fine to HSBC Bank due to “serious shortcomings” in protecting deposits

  

  HSBC Bank has been slapped with a substantial fine of £57.4 million ($73 million) for what the Bank of England’s Prudential Regulation Authority deems as “serious failures” in safeguarding certain depositors over an extended period. This penalty marks the first of its kind under British laws designed to protect customers …

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• 30 January 2024 2:41 pm

  The German economy contracted in Q4

  

  On Tuesday, the German Federal Statistics Office reported a contraction in the country’s economy during the final quarter of 2023, fueling concerns among economists who anticipate that Europe’s largest economy may enter another technical recession in the first quarter of 2024. According to the data, Germany’s Gross Domestic Product (GDP) …

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• 30 January 2024 1:46 pm

  European stocks track Wall Street gains, rise to two-year high

  

  On Tuesday, European stocks opened slightly higher, reaching their highest levels in two years, buoyed by gains on Wall Street the previous night. The European STOXX 600 index rose by 0.2 percent at 0825 GMT, marking its fifth consecutive session of gains. The positive sentiment in European markets was influenced …

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• 30 January 2024 1:10 pm

  The Nikkei index closed higher

  

  On Tuesday, Japan’s benchmark Nikkei index closed higher, propelled by gains in chip-related stocks following positive trends on Wall Street. The index rose by 0.11 percent to close at 36,065.86 points, although there was a degree of caution among traders ahead of the Federal Reserve’s anticipated decision on interest rates …

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• 30 January 2024 11:47 am

  Oil prices rise against the backdrop of geopolitical concerns in the Middle East

  

  Oil prices experienced an uptick in early trading on Tuesday as concerns over supplies persisted amidst escalating geopolitical tensions in the Middle East. Brent crude futures saw a rise of 25 cents, or 0.3 percent, reaching $82.65 per barrel by 0105 GMT. US West Texas Intermediate crude also increased by …

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• 30 January 2024 3:17 am

  Market Drivers – US Session, Jan. 29

  

  A second strong session for the US dollar placed more pressure on the riskier assets, pushing the EUR/USD to the sub-1.0800 level and the USD Index to flirt with the upper end of the current range amid the development of usual pre-FOMC caution.Ahead of the FOMC meeting and the release …

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• 30 January 2024 2:44 am

  Is Russia really beating western sanctions?

  

  Despite opposition from the central bank, Russia is pondering an indefinite extension of the wartime capital regulations that were implemented to relieve pressure on the ruble. The step, according to the administration, is necessary to support the currency and assist curb inflation. President Vladimir Putin issued an order in October …

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• 30 January 2024 2:16 am

  Goldman: Strong US economic prospects could shield equities from surging yields

  

  US stocks are surviving an increase in Treasury yields because of the positive economic outlook, but Goldman Sachs strategists warned that this might change if factors like tighter monetary policy push yields higher or if they climb too quickly.In their most recent weekly kickstart note, Goldman equity strategists lead by …

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• 30 January 2024 12:25 am

  WTI declines amid China’s property crisis

  

  The liquidation turmoil facing China’s real estate sector as well as the strong US dollar cause WTI oil to decline by more than 1.50%. Despite geopolitical unrest, worries about the state of the world economy and central bank policies have also caused oil prices to decline.In light of the uncertain …

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• 29 January 2024 11:05 pm

  US Dollar trades near mid-December highs ahead of eventful trading days

  

  The Dollar Index is showing strong increases and is currently trading at 103.75, not far from its mid-December highs. Ahead of the Fed’s impending announcement on interest rate policy on Wednesday, markets are still wary.Monday saw a sharp increase in the Dollar Index, which closed at 103.75, reaching levels not …

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• 29 January 2024 10:02 pm

  EUR/GBP bears continue to exert pressure, driving to new lows

  

  The EUR/GBP is trading at 0.8525, at the time of writing, after slipping to its lowest level since August 2023 0.8520, recording 0.23% losses.The daily chart indicates strong selling pressure as the RSI approaches oversold territory. A technical correction could be imminent if indicators reach oversold conditions.As of Monday, the …

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• 29 January 2024 9:06 pm

  Bitcoin is off to upbeat start this trading week

  

  Bitcoin and other cryptocurrencies are performing well in the US equity markets due to robust economic growth and potential annual inflation slowdown. The S&P 500 Index (SPX) increased by 1.06% last week, advancing closer to the psychologically significant mark of 5,000. Bitcoin rose 2.56% to $43,126, at the time of …

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