Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 10 January 2024 2:14 am

  Gold lacks real catalyst ahead of US inflation data

  

  Although gold attracted some buyers on Tuesday, the precious metal struggled to benefit from the move up. The precious metal is trading at $2029.70 per ounce at the time of writing. The Fed’s policy stance is expected to change due to a decrease in consumer inflation expectations, which could potentially …

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• 10 January 2024 1:00 am

  Barr: Fed’s bank funding program came to an end

  

  The Fed’s Bank Term Funding Program, which was launched during last year’s regional banking crisis, is set to end without extension according to Michael Barr, the Fed’s vice chair for supervision.The program, which allowed banks and credit unions to borrow funds for up to a year, has seen a surge …

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• 10 January 2024 12:13 am

  CAD impacted as Canadian Trade Balance falls short

  

  The Canadian dollar has experienced a significant decline, with the International Merchandise Trade and building permits falling more than anticipated. The recovery of the crude oil market is limiting the support of the Canadian currency. The Canadian dollar reached a new low for the week on Tuesday, with markets retreating …

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• 9 January 2024 10:32 pm

  Why have commodities had a challenging year in 2023?

  

  The United States has become the world’s largest exporter of liquefied natural gas for the first time ever, surpassing top suppliers Australia and Qatar. This surge in LNG exports is driven by Freeport LNG’s return to full service and robust global demand, particularly from Europe. With an average of 13.25 …

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• 9 January 2024 10:06 pm

  GBP/USD faces mild losses amid market risk aversion

  

  With losses averaging approximately -0.40%, the GBP/USD pair is trading close to the 1.2695 mark. The US dollar appeared to have recovered from Monday’s earlier decline. Following mixed data last week, markets recalculated Fed expectations as investors focused more on the impending CPI report.The GBP/USD pair saw a decline in …

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• 9 January 2024 9:11 pm

  Hays shares fall after difficult December

  

  Hays, a UK recruitment group, has reported a decline in activity in the UK and Ireland due to a slowdown in the volume of individuals securing permanent roles. The company’s first-half profits are expected to be £60mn, below current market expectations. Hays shares fell as much as 18% on Tuesday …

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• 9 January 2024 8:18 pm

  100,000 firms positively respond to Yellen’s war against dirty money

  

  Treasury Secretary Janet Yellen has announced that 100,000 businesses have joined a new database that collects “beneficial ownership” information on firms as part of a government effort to unmask shell company owners. The database will support law enforcement in making arrests, prosecuting offenders, and seizing ill-gotten assets. The bipartisan Corporate …

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• 9 January 2024 7:39 pm

  Dollar Higher, Nasdaq lower ahead of Barr’s Speech

  

  The US Dollar is trading in the green on Tuesday’s European morning, posting gains against most G20 currencies. However, the dollar was easing a touch as a firm risk-on tone returned on Monday in US equity markets. Earlier on Tuesday, Asian stocks took over the mood on Tuesday, with the …

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• 9 January 2024 5:33 pm

  Bitcoin jumps 6% to levels exceeding $46,600

  

  Bitcoin jumped 6% during January 9 trading as investors awaited potential regulatory approval of a US Bitcoin exchange-traded fund this week. In mid-trading on Tuesday, January 9, the price of Bitcoin reached more than $46,600, after recording $46,840, i.e. the highest level since April 2022. The number of Bitcoins mined …

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• 9 January 2024 3:16 pm

  Chinese Passenger Car Sales Show Resilience with an 8.3% Rise in December

  

  Despite moderating from the previous month’s notable surge, passenger car sales in China demonstrated robust growth, increasing by 8.3 percent in December. This uptick was fueled by a competitive price war among manufacturers. According to the China Passenger Car Association’s report on Tuesday, sales reached 2.37 million vehicles in December, …

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• 9 January 2024 2:05 pm

  Mixed Market Sentiments Impact Dollar, Cryptocurrencies Remain Resilient

  

  The upward momentum of the US dollar encountered resistance on Tuesday as traders maintained their expectations of multiple interest rate cuts by the Federal Reserve this year, citing signs of slowing US inflation. Meanwhile, in the cryptocurrency sphere, Bitcoin continued to hover near its highest level since April 2022, driven …

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• 9 January 2024 12:53 pm

  Gold Prices Rebound from Three-Week Low

  

  On Tuesday, gold prices rebounded from a three-week low, finding support in a weakening dollar following an official US report indicating that consumers anticipate lower inflation. The prospect of a Federal Reserve interest rate cut fueled optimism in the precious metal market. Gold experienced an immediate uptick of 0.2 percent, …

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• 9 January 2024 11:24 am

  Global Oil Markets Find Stability Amidst Regional Tensions and Supply Dynamics

  

  In early Tuesday trading, oil prices experienced a stabilization following a decline in the previous session. The market found itself delicately balanced between ongoing geopolitical tensions in the Middle East and growing concerns over demand, coupled with increased oil supplies from OPEC. Brent crude futures exhibited resilience, registering a modest …

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