Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 27 February 2024 8:57 pm

  USD/JPY Slides Following Dismal US Durable Goods Data

  

  The USD/JPY pair has slid after US Durable Goods orders declined more than expected in January. Japan’s National CPI inflation fell less than expected, with the headline annualized CPI slipping to 2.2% from 2.6% for the year ended January. However, markets were expecting a print of 1.8%. US MoM Durable …

  Read More »
• 27 February 2024 7:43 pm

  Bitcoin soars past $57200 on the back of institutional adoption

  

  Bitcoin has reached a new yearly high far above $56,000, marking its first high since December 2021. At the time of writing, the most important crypto asset is trading at $57200, up 4.91%. Professional investors at finance firms have piled into Bitcoin derivatives, with open interest for Bitcoin futures contracts …

  Read More »
• 27 February 2024 4:02 pm

  US Dollar Weakens in European Markets Amidst Yield Slowdown and Awaited Economic Data

  

  Dollar Resumes Decline Amidst Yield Slowdown and Market Anticipation In European markets on Monday, the US dollar faced renewed downward pressure against a basket of global currencies, marking a continuation of losses halted in the previous session. This decline signals a trajectory towards testing the lowest levels seen in three …

  Read More »
• 27 February 2024 3:15 pm

  European Stocks Edge Higher Amid Awaited Inflation Data; Basic Resources Lead Gains

  

  European Markets Display Modest Gains Amidst Anticipation for Key Economic Indicators European stocks experienced slight upward movement on Tuesday, buoyed by gains in basic resources stocks and improved earnings expectations. Market participants, alongside central bankers, remain attentive to forthcoming inflation data, which holds the potential to influence interest rate trajectories. …

  Read More »
• 27 February 2024 1:08 pm

  Nikkei Flat as Advantest Profit-Taking Offsets Early Gains

  

  Introduction: Nikkei Average Sees Minimal Movement Amidst Profit-Taking Japan’s Nikkei average ended Tuesday’s trading session nearly unchanged, relinquishing most of its early gains as investors opted to book profits, particularly in chip heavyweight Advantest. Despite reaching unprecedented levels earlier in the session, the index closed with marginal movement, reflecting a …

  Read More »
• 27 February 2024 11:43 am

  Gold Prices Rise Amidst Dollar Decline Ahead of US Inflation Report

  

  Gold Prices Climb as Dollar Weakens Ahead of Key Economic Data Gold prices surged on Tuesday, propelled by a decline in the dollar, as investors awaited a significant inflation report from the United States. The week ahead is marked by a flurry of data releases and statements from Federal Reserve …

  Read More »
• 27 February 2024 2:50 am

  Market Drivers – US Session, February 26

  

  A further depreciation of the US dollar enabled riskier financial assets to continue rising in the green, amidst persistent bets of a June interest rate cut by the Fed and before of important inflation data for the US (PCE) and the Eurozone’s CPI data. When measured by the USD Index …

  Read More »
• 27 February 2024 2:39 am

  WTI rises on Red Sea shipping threats

  

  The US benchmark WTI oil prices rose over 1.25% on Monday, around $77.37 per barrel due to the ongoing Red Sea shipping threat and European diesel demand. The slump in US diesel exports to Europe was attributed to lower refinery output and tighter supplies in the US, with Europe’s US …

  Read More »
• 27 February 2024 1:39 am

  EUR/USD rises 0.30% on first day of eventful week

  

  The eventful week ahead for the economy saw the EUR/USD pair get off to a dismal start. On Monday, it rose more than a quarter of a percent, or 0.30%, to settle at 1.0850. Prior to price inflation and growth data that is expected in the US and the Eurozone, …

  Read More »
• 27 February 2024 1:04 am

  Gold price fluctuates amid rising US Treasury yields

  

  Gold prices earlier on Monday fell to $2026.93 an ounce as a result of pressure from the recent increase in Treasury yields. With conflicting expectations for a possible quantitative easing in June, while market sentiment is still erratic. Gold’s price is restrained since the US 10-year Treasury yield is moving …

  Read More »
• 26 February 2024 10:41 pm

  Explainer: How will PCE data test recent stock market rally?

  

  The S&P 500 and Dow Jones ended the week up almost 1%, while the Nasdaq Composite gained nearly 0.6%, demonstrating the recent robust surge in the stock market. The latest reading of the Fed’s favoured inflation indicator, the Personal Consumption Expenditures (PCE) index, which was released on Thursday, is expected …

  Read More »
• 26 February 2024 10:19 pm

  Treasury yields rise on first day of eventful trading week

  

  US Treasury bond yields have risen since the start of trading on Monday due to anticipation of economic data, Federal Reserve statements, and earnings reports. The stock market lost momentum after reaching record levels, with traders anticipating a barrage of economic data and statements from Federal Reserve officials that could …

  Read More »
• 26 February 2024 9:19 pm

  USD/CAD rises ahead of US Durable Goods, GDP

  

  The USD/CAD pair rose +0.09% and is trading at 1.3519 at the time of writing. Earlier on the day, the pair was in a slow drift near the 1.3500 handle, with Canada wholesale trade likely falling 0.6% in January. US New Home Sales rose 1.5% vs 7.2% previous, with Durable …

  Read More »