Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 15 February 2024 11:28 am

  Gold Prices Hold Steady Near Two-Month Low Amidst Mixed Fed Comments

  

  Gold prices remained resiliently near a two-month low, reflecting the market’s response to mixed commentary from Federal Reserve officials regarding January’s inflation data. This dynamic has tempered expectations for a significant cut in interest rates, prompting investors to closely monitor developments in the precious metals market. Assessment of Market Movement:In …

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• 15 February 2024 2:37 am

  Market Drivers – US Session, February 14

  

  The US Dollar retreated after a strong rebound on Tuesday due to CPI, easing the pressure in the risk-linked universe. The USD Index (DXY) fell from multi-week highs near the 105.00 barrier due to uneven improvement in the risk complex.Economic DataRetail Sales, the Philly Fed Manufacturing Index, Industrial Production, the …

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• 15 February 2024 1:13 am

  Fed confident inflation is heading toward 2% target

  

  Michael Barr, the vice chair of the Federal Reserve’s Supervision Committee, sent out a statement to news outlets late on Wednesday stating that the FOMC and the Fed as a whole are still optimistic that US inflation will approach the 2% target.Barr is closely watching the situation and does not …

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• 15 February 2024 12:17 am

  US dollar retreats after post-CPI rally

  

  During the North American session, the DXY Index lost -0.14% of its value and dropped to 104.70. Investors are benefiting from the spike on Tuesday in response to the CPI data, which caused the Fed to reevaluate its rate-easing projections. For the remainder of the week, the markets will keep …

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• 14 February 2024 11:40 pm

  Crude oil hits multi-week high before declining on supply surge

  

  Wednesday witnessed a decrease in crude oil price following an earlier surge. US Crude stocks are still rising more quickly than the markets had predicted. Barrell prices are floored by geopolitical headlines. Early on Wednesday, WTI crude oil touched new multi-week highs around $78.50, but US barrel counts revealed an …

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• 14 February 2024 10:14 pm

  Could UK fall into a technical recession?

  

  The UK’s GDP is expected to experience a marginal contraction in Q4, with the Bank of England expecting a slow but steady increase in growth over the next few quarters. If the GDP prints meet market consensus, the UK economy would have entered a “technical recession” following the 0.1% contraction …

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• 14 February 2024 9:02 pm

  Fed’s Goolsbee: One single inflation reading shouldn’t ignite to much worries

  

  Chicago Fed President Austan Goolsbee has reassured investors that the central bank will be able to lower interest rates in 2024 despite a hotter-than-expected reading on consumer prices. The Consumer Price Index (CPI) exceeded expectations in January, rising 3.1% over the previous year and 0.3% over the previous month. Prices …

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• 14 February 2024 7:59 pm

  Bailey: Latest inflation data in UK “good news”

  

  Bank of England (BoE) Governor Andrew Bailey described the most recent inflation statistics as “good news” and pointed out that it indicated greater downward pressure than they had anticipated during his testimony before the UK Economic Affairs Committee on Wednesday. Bailey’s remarks did not cause the GBP/USD to move noticeably. …

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• 14 February 2024 7:19 pm

  Natural gas goes through eighth day of consecutive losses

  

  Natural gas prices have fallen by 20% since February, with the US Dollar Index consolidating gains on Wednesday. The commodity’s prices have been negatively impacted by February, with Shell issuing an outlook where Liquefied Natural Gas demand will be substantially decreased by 2040, reflecting global pushes to abandon fossil fuels. …

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• 14 February 2024 5:23 pm

  Shell Forecasts Over 50% Surge in Global LNG Demand by 2040

  

  In a report unveiled on Wednesday, Shell projected a significant surge in global liquefied natural gas (LNG) demand, expecting it to soar by more than 50 percent by 2040. This uptick is anticipated as countries in South and Southeast Asia, along with China, intensify their adoption of LNG to bolster …

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• 14 February 2024 2:43 pm

  Japan’s Nikkei index slides from a 34-year high after a sell-off on Wall Street

  

  Japan’s Nikkei index fell from its highest level in 34 years on Wednesday, affected by a sharp decline in Wall Street indices at the end of trading on Tuesday, but the weakness of the yen and increased investor interest are expected to push the benchmark index towards new high levels …

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• 14 February 2024 11:24 am

  Dollar Surges to Three-Month High on Unexpected Inflation Data

  

  The dollar surged to its highest levels in three months against other major currencies on Wednesday following unexpected inflation data in the United States, diminishing bets on Federal Reserve interest rate cuts. The dollar surpassed the 150 yen mark for the first time since November, prompting Japan’s chief currency official, …

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• 14 February 2024 11:09 am

  Oil Prices Dip on Surging US Crude Inventories and Rate Cut Uncertainty

  

  Oil Prices Retreat on Surging US Crude Inventories and Diminished Rate Cut Expectations Early Asian trading on Wednesday saw a decline in oil prices following reports from the American Petroleum Institute (API) indicating a significant buildup in US crude inventories last week, coupled with shifting sentiments regarding potential interest rate …

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