Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 17 January 2024 2:49 pm

  European stocks fell after the European Central Bank’s statements

  

  European stocks experienced a sharp decline at the beginning of Wednesday’s trading session, influenced by statements from European Central Bank officials that diminished expectations of interest rate cuts. Additionally, lower-than-expected Chinese economic data contributed to a negative market sentiment. The European STOXX 600 index dropped by 1.2 percent as of …

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• 17 January 2024 1:32 pm

  Dollar is at a one-month high as interest rate cut expectations decline

  

  The dollar index remained at its highest level in a month against a basket of currencies on Wednesday, as remarks from Christopher Waller, a member of the Federal Reserve Board of Governors, tempered expectations of an interest rate cut in March. Waller stated on Tuesday that, while the United States …

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• 17 January 2024 12:34 pm

  Oil prices decline as a stronger dollar offsets the risks of Red Sea unrest

  

  Oil prices fell on Wednesday as a stronger dollar curbed demand for crude denominated in the US currency, but increasing risks of supply disruptions amid the raging conflict in the Red Sea limited losses. Brent crude futures fell 36 cents, or 0.5 percent, to $77.93 per barrel by 0215 GMT. …

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• 17 January 2024 1:16 am

  Market Drivers – US Session, January 16, 2024

  

  The US dollar was strongly supported by investors’ diminishing speculation about Fed interest rate cuts as US markets returned to a regular schedule. Meanwhile, the European currency was eventually affected by ECB officials’ continued disagreement with market perceptions regarding the timing of rate reductions. It is anticipated that Fedspeak, US …

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• 17 January 2024 12:58 am

  GBP/USD declines after UK jobs data

  

  The GBP/USD pair fell to a near-term low of 1.2620 in Tuesday trading, as broader markets shifted their focus from upbeat economic data to bidding up the US Dollar, sending the Pound Sterling into the new year’s lows. Broad-market bets of a rate cut from the Bank of England are …

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• 16 January 2024 11:41 pm

  US Dollar Has Touched Highest Level Since December

  

  The DXY Index surged around 103.40, marking the highest level the US Dollar has been since mid-December. This was mostly caused by US traders coming back from vacation, which was further supported by a gradual increase in yields. Markets are pricing in another rate decrease in May as part of …

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• 16 January 2024 10:35 pm

  Oil prices almost unchanged amid stronger US dollar

  

  Oil prices remained stable on Tuesday, with the US dollar reaching its highest in a month and concerns about the impact of Middle East tensions on energy supplies supported by the stronger dollar. WTI crude futures settled at $72.40 a barrel, down 28 cents or 0.4% from Friday’s settlement. Brent …

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• 16 January 2024 9:58 pm

  Wall Street declines amid soaring earnings

  

  Tuesday saw a decline in US stocks as investors continued to monitor the direction of interest rates following a mediocre start to the earnings season that was marked by significant bank results.The S&P 500 fell 0.2% and the Dow Jones Industrial Average fell 0.4%. Despite briefly entering positive territory during …

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• 16 January 2024 9:05 pm

  Gold trades around $2035 amid interest rate bets, geopolitical uncertainty

  

  The price of gold is trading around $2,035.03 per ounce at the time of writing. That’s down 0.94% since yesterday’s gold price per ounce and down 1.39% from the beginning of the year. The lowest trading price within the last 24 hours: $2,031.51 per ounce. The highest gold spot price …

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• 16 January 2024 8:18 pm

  Fed’s Waller: Fed to discuss policy cuts in 2024 on near-term data

  

  Fed Governor Christopher Waller has warned that despite data developments in the inflation outlook allowing the Fed to begin outlining plans for rate cuts looking forward, markets shouldn’t be expecting the Fed to rush anytime soon.Money markets adjusted rate cut bets after Waller’s notes, Fed swaps now see 15 basis …

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• 16 January 2024 7:30 pm

  UK inflation could slow further

  

  The UK’s Consumer Price Index (CPI) report is set to be released on Wednesday, January 17, with major banks forecasting the upcoming inflation print. The looming data follows a weak November report, with core inflation falling slightly to just below 5% year-on-year for the first time since January 2022. Headline …

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• 16 January 2024 3:31 pm

  Japan’s NYK announces the temporary suspension of the passage of its ships through the Red Sea

  

  Japan’s largest shipping company, Nippon Yusen (NYK Line), has announced the suspension of all its ships’ passage through the Red Sea. The decision comes in the wake of advice from the joint naval force “Guardian of Prosperity” to avoid the region following the recent US and British strikes against Houthi …

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• 16 January 2024 2:04 pm

  Oil rises in light of the escalation of conflict in the Middle East and tankers diverting their course

  

  Oil prices experienced a slight uptick on Tuesday, driven by escalating conflict in the Middle East. Ship tracking data indicated an increased number of tankers diverting away from the Red Sea following attacks by Yemen’s Houthi movement in the region. Brent crude futures saw a rise of 12 cents, approximately …

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