Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 23 February 2024 11:50 am

  Gold Prices Rally Amid Dollar Weakness and Geopolitical Tensions

  

  Gold prices surged on Friday, poised to clinch their first weekly gain in three weeks. A confluence of factors, including a weakened dollar and escalating tensions in the Middle East, fueled investor appetite for the precious metal. Market Dynamics: Tracking the Numbers At 0411 GMT, gold prices in spot transactions …

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• 22 February 2024 10:15 pm

  USD/CAD swings following US key data, Canadian retail sales

  

  The USD/CAD exchange rate saw volatility on Thursday due to mixed US PMI data and Canada’s retail sales statistics. The pair moved towards the lower end of the range early on Thursday as investors prepared for the US Purchasing Managers Index (PMI) data of the day. The pair is trading …

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• 22 February 2024 9:31 pm

  Nasdaq boosted following Nvidia’s earnings

  

  As Nvidia’s stock surged to an all-time high, the S&P 500 approached a new high and global stock rallies gained momentum.The chip manufacturer, propelled by the surge in demand for AI systems, announced another quarter of record-breaking performance. During afternoon trade, Nvidia’s shares increased by 15%. As a result, the …

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• 22 February 2024 8:15 pm

  US S&P Global Manufacturing PMI for February improves

  

  The US S&P Global Composite PMI fell from 52 in January to 51.4 in February’s flash estimate, indicating that the private sector’s business activity in the US is still growing, but more slowly than it was in January.During the same time period, the S&P Global Manufacturing PMI increased to 51.5 …

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• 22 February 2024 7:41 pm

  Fed’s Jefferson: Cautiously optimistic about inflation progress

  

  Phillip Jefferson, the Fed Vice Chair of the Board of Governors, delivered a speech on Thursday in Washington, DC, at the Peterson Institute for International Economics.Key QuotesContinuing strength in spending is an upside risk to forecasts.Fed needs to remain vigilant, nimble.Fed shouldn’t be taken by surprise by any unexpected shocks.Fed’s …

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• 22 February 2024 5:34 pm

  Oil Prices Edge Up Amid Dollar Decline and Yemen Ship Attack

  

  Key Highlights: Oil prices edge up with Brent crude and WTI futures seeing modest gains.Weakened dollar and Yemen ship attack contribute to price increase.Brent crude reaches $83.38 per barrel, while WTI climbs to $78.28 per barrel.Attack on ship off Yemen’s coast adds geopolitical tension to market sentiment.Increase in US crude …

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• 22 February 2024 4:49 pm

  The Turkish Central Bank keeps interest rates unchanged

  

  Key Points: Turkey’s central bank keeps key interest rate steady at 45 percent.Decision aligns with market expectations post-last month’s rate hike.Central bank prepared to tighten monetary policy if significant and sustained deterioration in inflation expectations emerges.Appointment of Fateh Kara Khan as governor followed the resignation of Hafiza Ghaya Arkan.Monetary tightening …

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• 22 February 2024 3:10 pm

  Germany’s Economic Contraction Deepens in February

  

  Germany witnessed a deepening economic contraction in February, as a modest uptick in services activity failed to offset a significant downturn in the manufacturing sector, according to a preliminary survey published on Thursday. The Standard & Poor’s Global Hamburg Commercial Bank Composite Purchasing Managers’ Index (PMI) plummeted to 46.1 points …

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• 22 February 2024 3:09 pm

  European Stocks Surge to New Record High

  

  European stocks soared to a new record high on Thursday, buoyed by a robust performance in global equities, notably with Japan’s Nikkei index reaching unprecedented levels. The European STOXX 600 index surged to 495.77 points, surpassing its previous peak of 495.46 points set in January 2022. This surge was fueled …

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• 22 February 2024 3:07 pm

  Oil Prices Hold Steady Amid Signs of Supply Shortages

  

  Oil prices experienced a slight uptick on Thursday, maintaining gains from the previous session amidst indications of supply shortages. US West Texas Intermediate (WTI) crude futures inched up by 17 cents to $78.08 per barrel for the next month. Meanwhile, the May contract saw a modest increase of 14 cents, …

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• 22 February 2024 12:49 pm

  Japanese Stocks Hit Record High Amidst Foreign Investment Surge

  

  Japanese stocks surged to a new record high on Thursday, surpassing levels last seen in 1989, as falling valuations and corporate reforms lured foreign investors seeking alternatives to turbulent Chinese markets. The Nikkei index soared by 2.19 percent to close at 39,098.68 points, reaching an intraday peak of 39,156.97 points—exceeding …

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• 22 February 2024 12:48 pm

  Gold rises supported by the decline in the dollar and Middle East tensions

  

  Gold Surges on Weak Dollar and Middle East Tensions Gold prices surged on Thursday, bolstered by a weakened dollar and escalating tensions in the Middle East. Investors eagerly awaited more US economic data for insights into the Federal Reserve’s future interest rate decisions. At 0328 GMT, spot gold climbed 0.1 …

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• 22 February 2024 11:25 am

  Gold Prices Rise Amid Dollar Weakness and Middle East Tensions

  

  Gold prices climbed on Thursday, buoyed by a weakening dollar and escalating tensions in the Middle East. Investors remained attentive to upcoming US economic data, seeking insights into the Federal Reserve’s future interest rate policies. By 0328 GMT, spot gold advanced by 0.1 percent to $2,026.7 per ounce, following yesterday’s …

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