Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 12 April 2024 10:33 am

  Oil Rises Amid Heightened Tensions in the Middle East, Despite Heading for Weekly Loss

  

  Oil prices rebounded on Friday, buoyed by escalating tensions in the Middle East, which raised concerns about potential supply disruptions from the oil-producing region. However, despite the uptick, prices are on track for a weekly loss amid expectations of fewer interest rate cuts in the United States this year. As …

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• 12 April 2024 4:29 am

  Market Drivers; US Session, April 11

  

  Risk-linked assets regained some momentum amid a mild corrective decline in the US Dollar and rising speculation of a Fed rate cut later in 2024. In the meantime, the ECB left rates unchanged as expected and opened the door to a rate cut in June.Economic DataBased on annualized data released …

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• 12 April 2024 4:19 am

  IMF managing director: Fed should be able to cut rates by end 2024

  

  The Federal Reserve (Fed) should be able to start cutting interest rates by the end of 2024, according to Kristalina Georgieva, managing director of the International Monetary Fund.At the press time, the US Dollar Index (DXY) was down 0.01% on the day to trade at 105.27.Key Quotes“We remain on our …

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• 12 April 2024 3:55 am

  Delta Reports Robust Earnings in Tough Quarter for US Airlines

  

  With adjusted earnings of $380 million in the first quarter, up 75% over the prior year, Delta Airlines posted better than expected earnings. Even though average passenger revenue decreased by 2%, the company’s $12.6 billion in revenue was a record. In the second quarter, Delta expected record revenue, but it …

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• 12 April 2024 2:16 am

  Gold soars to all-time highs again after US PPI data

  

  Falling US Treasury yields and a declining US dollar have helped to dramatically boost gold prices. In an uncertain environment, mixed signals from labour data and producer inflation support gold. Fed officials’ concerns about inflation strengthen Gold’s appeal as a safe haven, influencing sentiment. The price of gold recovered its …

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• 11 April 2024 5:28 pm

  European Central Bank holds interest rates

  

  The European Central Bank (ECB) decided to maintain interest rates at all-time highs following its governing council meeting in Frankfurt on Thursday. However, the ECB signaled a potential rate cut at its next meeting in June. The benchmark deposit rate was kept at 4 percent until policymakers were confident that …

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• 11 April 2024 3:52 pm

  Dollar rises and Yen falls amid lower expectations of interest rate cuts

  

  The dollar gained ground on Thursday following the release of higher-than-expected US inflation data, which tempered remaining expectations for the Federal Reserve to initiate a cycle of interest rate cuts in June. Meanwhile, the yen depreciated to mid-1990s levels. Investor attention has now shifted towards US producer price data and …

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• 11 April 2024 1:44 pm

  Gold rises on the back of geopolitical tension enhancing safe haven appeal

  

  Gold prices rebounded on Thursday, recouping losses from the previous session, buoyed by geopolitical tensions that spurred demand for the precious metal as a safe haven. In spot transactions, gold edged up by 0.1 percent to $2,334.64 per ounce as of 0809 GMT. The yellow metal had seen record highs …

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• 11 April 2024 12:38 pm

  European Shares Remain Stable as Market Attention Shifts to ECB Policy Decision

  

  European shares opened cautiously on Thursday, reflecting a sense of apprehension ahead of the European Central Bank’s (ECB) monetary policy decision and President Christine Lagarde’s remarks regarding potential interest rate cuts. As of 0720 GMT, the pan-European STOXX 600 remained flat, with the telecommunications sector experiencing a 1.3% decline. Market …

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• 11 April 2024 11:02 am

  Oil Prices Inch Upward Amid Escalating Tensions in the Middle East

  

  During Thursday’s trading session, oil prices edged up following a notable increase in the previous session, with investors bracing for potential escalation in the Middle East crisis, particularly involving Iran, OPEC’s third-largest oil producer. Brent crude futures rose by 5 cents to reach $90.53 a barrel at 0632 GMT, while …

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• 11 April 2024 6:23 am

  Japan’s Suzuki supports any steps to respond to excessive currency moves

  

  On Thursday, Japanese Finance Minister Shunichi Suzuki made a verbal intervention. Suzuki stated that he will not rule out taking any measures in response to unwarranted movements in foreign exchange. He went on to say that he and Vice Finance Minister Kanda are always talking about foreign exchange. As of …

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• 10 April 2024 11:49 pm

  FOMC members are concerned about high inflation persistence

  

  FOMC minutes revealed that its members expressed concerns that inflation may continue rising, though they are still expecting rate cut at some point this years. The minutes said “inflation was not fast enough on its way down” despite some recent decline. But the participants were keen on keeping the language …

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• 10 April 2024 10:06 pm

  FOMC Minutes: Evidence required that inflation is cooling toward target

  

  According to latest FOMC meeting minutes, the US Federal Reserve wants greater assurance that inflation is heading towards its target of 2%. At their meeting in March, Federal Reserve officials voiced concern that inflation was not decreasing rapidly enough, but they still anticipated lowering interest rates later in the year. …

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