Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 8 April 2024 9:48 pm

  Positive Market Sentiment Pushes CAD to Minor Gains

  

  The Canadian Dollar has seen minor gains on Monday, extending its rebound from year-to-date lows after Friday’s upbeat Ivey PMI. This is due to a modest appetite for risk on a calm weekly opening, which allows some US Dollar pullback ahead of key macroeconomic data this week. The US economy …

  Read More »
• 8 April 2024 8:42 pm

  US Dollar Retreats Ahead of CPI Data

  

  The US Dollar Index is currently trading at 104.15 with mild losses, as traders await the March CPI report on Wednesday. The Fed’s cautious stance is calibrated in light of incoming data, with hot labor market figures reported last week potentially justifying the delay of the easing cycle. The US …

  Read More »
• 8 April 2024 4:10 pm

  Gold’s Record Surge Persists Amid Speculative Activity and Ongoing Middle East Tensions

  

  Gold prices continued their relentless ascent on Monday, propelled by speculative activity and persistent tensions in the Middle East, which overshadowed the robust US jobs data released last week. In spot transactions, gold climbed 0.3 percent to $2,335.73 per ounce by 0646 GMT, after reaching a record high of $2,353.79 …

  Read More »
• 8 April 2024 3:03 pm

  Dollar Holds Steady Before US Inflation Data

  

  On Monday, the dollar took a breather as investors turned their attention to upcoming U.S. inflation data later in the week, while the yen edged closer to 34-year lows amid ongoing vigilance for potential intervention measures in Tokyo to stabilize the weakening currency. Last week, the dollar experienced fluctuations as …

  Read More »
• 8 April 2024 1:34 pm

  Germany Drives European Stocks Higher as Attention Shifts to ECB Policy Meeting

  

  European shares saw a modest uptick on Monday, led by Germany’s DAX, following robust industrial production data from the region’s largest economy. However, cautious sentiment prevailed ahead of the European Central Bank’s policy decision later in the week. The STOXX 600 index edged up 0.2% by 0845, with Germany’s DAX …

  Read More »
• 8 April 2024 11:57 am

  German exports fall more than expected in February

  

  In February, German exports experienced a more pronounced decline than anticipated, primarily driven by reduced exports to European Union (EU) countries, according to data released by the Federal Statistics Office on Monday. The data revealed a 2% month-on-month decrease in exports for February, surpassing the Reuters poll forecast of a …

  Read More »
• 8 April 2024 10:44 am

  Oil prices decline as geopolitical tensions in the Middle East ease

  

  In early Asian trading on Monday, oil prices declined by 1 percent as tensions in the Middle East alleviated following Israel’s withdrawal of more soldiers from the southern Gaza Strip and its commitment to engage in new talks regarding a potential ceasefire in the ongoing conflict, which has persisted for …

  Read More »
• 8 April 2024 7:22 am

  Financial Markets’ Weekly Recap: Jobs Data Renews Speculation on Interest Rate Path

  

  The past trading week witnessed remarkable fluctuations coinciding with the beginning of the second quarter of the year 2024, as strong US economic data raised speculation about the ability of the US Federal Reserve to reduce interest rates and when it might make such a decision. The week concluded with …

  Read More »
• 5 April 2024 11:30 pm

  Gold hits fresh all-time high amid geopolitical tensions, hot US jobs data

  

  Gold has surged to a new all-time high, demonstrating its role as a safe haven and bucking both the US Dollar and the jump in nonfarm payrolls. Geopolitical threats, physical demand, and US dollar-related fundamentals all continued to drive the price of gold. At the time of writing, gold price …

  Read More »
• 5 April 2024 10:53 pm

  What will NFP figures mean for US economy, Fed’s rate policy path?

  

  In March, the US economy added 303,000 new jobs. Slightly less people were unemployed, at 3.8%, and earnings increased more quickly than inflation. The highest one-month payroll increase since May was reported in the report. The US economy created 303,000 new jobs in March, exceeding forecasts and demonstrating that the …

  Read More »
• 5 April 2024 10:04 pm

  Dow Jones Moves Higher Despite Strong US Jobs Report

  

  The Dow Jones Industrial Average is moving higher on Friday, following upbeat US employment figures and hawkish comments by Federal Reserve Governor Michelle Bowman. The index is on track for its worst week in the last year as strong US economic data has put the Fed’s easing plans into question. …

  Read More »
• 5 April 2024 7:50 pm

  Fed’s Logan: Too soon to consider cutting rates given upside risk to inflation

  

  “I believe it’s much too soon to think about cutting interest rates,” Federal Reserve Bank of Dallas President Lorie Logan said on Friday, citing upside risks to inflation. The US Dollar Index clings to modest daily gains near 104.40 following these comments.Key Quotes “Need to see more of the uncertainty …

  Read More »
• 5 April 2024 6:41 pm

  US Nonfarm Payrolls for March Surpass Expectations

  

  US Nonfarm Payrolls rose by 303,000 in March compared to a projection of 200,000. According to a Friday report from the US Bureau of Labour Statistics (BLS), nonfarm payrolls (NFP) increased by 303,000 in the US in March. This reading was far higher than the market’s estimate of a 200,000 …

  Read More »