Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 18 April 2024 10:27 am

  Gold shines amid geopolitical tensions that enhance the demand for safe havens

  

  Gold prices climbed on Thursday, driven by escalating fears of a widening conflict in the Middle East, which bolstered demand for safe-haven assets. This trend offset concerns about the possibility of prolonged high interest rates in the United States. At 0429 GMT, spot gold rose by 0.6 percent to $2,374.97 …

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• 18 April 2024 2:42 am

  Market Drivers; US Session, April 16

  

  The Dollar’s recent pause gave the opportunity to risk-related assets for some breather. Because of the dollar’s exhaustion following its recent climb, the US Dollar Index (DXY) witnessed a correction, while the risk-averse galaxy saw some rebound despite ongoing geopolitical concerns and a strong belief in an ECB rate drop …

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• 18 April 2024 1:53 am

  Gold Price Retreats About 1% on Fed’s Apparently Hawkish Stance

  

  Improved global risk sentiment and a decline in US Treasury yields have caused gold prices to retreat from daily highs, further pressuring the US dollar. The precious metal is down 0.93%, at $2360.60 per ounce.Although US Federal Reserve officials have been hawkish, there has been a bullish momentum. The US …

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• 18 April 2024 1:36 am

  GBP/USD slides after recording some gains post-UK inflation data

  

  Bets on the beginning of the BoE’s easing cycle is pushed back by market watchers to September. The US Dollar gained strength on Tuesday due to Fed Chair Powell’s hawkish outlook. The Pound might benefit further when the Fed and BoE’s policies coincide. With earlier gains for the day, the …

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• 18 April 2024 12:06 am

  Chip Stocks Drop Following Noteworthy Earnings Report

  

  Chip stocks dropped on Wednesday on the announcement by ASML, a significant manufacturer of machinery used in semiconductor manufacturing, of a 61% sequential decline in bookings for the first quarter. The equipment required to produce the world’s most sophisticated semiconductors, which may cost hundreds of millions of dollars apiece, are …

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• 17 April 2024 11:49 pm

  US Dollar Retreats Following Fed’s Beige Book, Lower Treasury Yields

  

  The Fed’s Beige Book showed slight economic activity expansion since late February, but Fed Chair Jerome Powell warned that there is little progress on inflation and that the bank remains data-dependent. The possibility of a rate cut in the next meeting in June stands at around 15%, and the chances …

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• 17 April 2024 10:31 pm

  ECB’s Lagarde: The fight against inflation is not over

  

  European Central Bank’s President Christine Lagarde speaks in Washington, DC. A firmer upside momentum now lifts EUR/USD pair to the area of daily highs near 1.0680.Earlier on Wednesday, Lagarde tweeted saying, “Later today I will be speaking at the Council on Foreign Relations about the European economy and implications of …

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• 17 April 2024 9:28 pm

  Crude oil losses continue on lower demand concerns, higher oil stocks

  

  Oil prices are reversing more quickly than expected as US reserves surge. The prospect of longer-term higher interest rate environment is raising worries about a decline in crude oil prices. The impact of geopolitical concerns has been mitigated by these fears. On Wednesday, there will be a significant decline in …

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• 17 April 2024 8:12 pm

  BoE’s Bailey: Inflation will drop strongly in the next month

  

  Bank of England’s Governor Andrew Bailey speaks in the wake of the pick up in UK inflation figures in March.GBP/USD keeps the tight range in the low 1.2400s, fading the initial bullish move to the 1.2480 zone on the back of the ongoing bounce in the Dollar.Key QuotesWe’re pretty much …

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• 17 April 2024 7:08 pm

  ECB’s Nagel: Eurozone price pressures could continue for some time

  

  In an interview on Wednesday, European Central Bank policymaker and Bundesbank Chief Joachim Nagel said that price pressures in the Eurozone could continue for some time, per Reuters.“It’s not completely clear if the inflation rate will reach 2% target next year and stay at this level,” Nagel added and noted …

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• 17 April 2024 5:08 pm

  US Futures Rise with Megacap Support; Eyes on Earnings and Fed

  

  Wednesday kicked off with a surge in U.S. stock index futures, propelled by the robust performance of megacap growth stocks. Investors were captivated by a flurry of corporate earnings reports and insights from Federal Reserve policymakers, eagerly seeking clues about the health of the economy. Before the opening bell, megacap …

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• 17 April 2024 4:45 pm

  Bitcoin Slipping Below $63k Amidst Dollar Doldrums and Rate Resistance

  

  Bitcoin experienced a slight dip in price on Wednesday, maintaining its position within a trading range established over the past month. The market sentiment continued to be delicate as U.S. interest rates remained elevated. Recent sessions witnessed a surge in the strength of the dollar, putting pressure on crypto markets. …

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• 17 April 2024 3:46 pm

  Oil declines as US inventories rise and global demand concerns

  

  Oil prices fell for the third straight session on Wednesday, amid the potential impact of rising US crude inventories, global demand concerns stemming from weak economic data from China and bleak prospects for an interest rate cut. Brent crude futures for June delivery fell 21 cents, or 0.2 percent, to …

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