Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 11 January 2024 2:40 am

  Market Drivers – US Session, Jan 10

  

  The US dollar experienced a corrective move on the back of improved market sentiment surrounding the risk-linked assets, which weighed on the dollar. Both Gold and Silver grinded lower and revisited the lower end of the so-far yearly range prior to the release of US inflation on Thursday.The dollar faced …

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• 11 January 2024 1:58 am

  US stocks higher ahead of US inflation data

  

  US stocks closed higher on Wednesday, with the Dow Jones Index rising over 150 points. The S&P 500 gained 0.57% to end at 4,783.45, while the Dow Jones industrial average added 170.57 points to close at 37,695.73. The Nasdaq Composite advanced 0.75% to settle at 14,969.65. Intuitive Surgical and Lennar …

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• 11 January 2024 1:13 am

  Treasury yields decline ahead of CPI data

  

  While financial markets gear up for a relatively busy year, there persists a state of severe disagreement about the forces driving longer-term interest rates.The range of forecasts for the yield on the 10-year Treasury one year from now is below 3% to above 5%. The yield outlook is mostly dependent …

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• 11 January 2024 12:28 am

  Yen faces selloff following wages data

  

  The Japanese Yen is experiencing a selloff due to a 3% drop in real wages for the year ended November, despite a 0.2% increase in nominal wages. This is due to inflation affecting consumers’ earnings and purchasing power. The Bank of Japan is hinting at rate hikes based on rising …

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• 10 January 2024 11:40 pm

  Oil prices decline after surprise US stockpile build

  

  Oil prices declined on Wednesday due to a surprise increase in US crude stockpiles, raising concerns about demand in the largest oil market. The EIA report highlighted investor concerns of slowing demand growth, with US crude inventories rising by 1.3 million barrels in the week ended January 5 to 432.4 …

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• 10 January 2024 10:13 pm

  Swiss Franc weakens vs Sterling after Bailey’s speech

  

  The Swiss Franc declined against the Pound Sterling for the seventh consecutive trading day, as the Bank of England Governor, Andrew Bailey, testifies before Parliament at the UK Treasury Select Committee. The Dow Jones Industrial Average and S&P 500 are edging higher, marginally aiding the Pound more than the Swiss …

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• 10 January 2024 8:50 pm

  US CPI expectations by 10 major banks

  

  The US Bureau of Labor Statistics will release the most important inflation measure, the US Consumer Price Index (CPI) figures, on Thursday, January 11 at 13:30 GMT. As we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the …

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• 10 January 2024 7:53 pm

  EUR/USD steadies amid ECB’s officials’ comments

  

  The EUR/USD pair recovers slightly in anticipation of US CPI release, with ECB members’ statements weighing on the Euro. ECB Vice-President de Guindos hints at possible Eurozone recession, while Schnabel affirms stance on inflation control.EUR/USD traders focus on upcoming US inflation figures and unemployment claims. The Euro pares some of …

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• 10 January 2024 1:29 pm

  European Stocks Dip Amidst Decline

  

  On Wednesday, European stocks experienced a decline, weighed down by a drop in basic resource companies, as investors assessed corporate earnings and awaited crucial US inflation data for insights into the future of interest rates. The European STOXX 600 index slipped by 0.2 percent by 8:15 GMT, with basic resources …

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• 10 January 2024 12:53 pm

  Gold Prices Dip Amidst Dollar and Bond Yield Gains Ahead of Key US Inflation Report

  

  On Wednesday, gold prices experienced a decline, influenced by the ascent of the US dollar and a rise in Treasury bond yields. Investors closely monitored these indicators ahead of the US inflation report, which is anticipated to provide insights into the potential trajectory of interest rate adjustments by the US …

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• 10 January 2024 12:18 pm

  Dollar Holds Steady Ahead of US Inflation Data

  

  In cautious trading on Wednesday, the dollar maintained its position as investors awaited crucial US inflation data later in the week, which could impact Federal Reserve policy. Meanwhile, Bitcoin faced fluctuations after a false social media post caused turmoil in the markets. The US Securities and Exchange Commission (SEC) reported …

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• 10 January 2024 11:56 am

  Nikkei rises to 34-year high at close thanks to technology stocks

  

  Japan’s Nikkei index rose to its highest level in 34 years at the close thanks to the rise in technology companies’ shares, which tracked their American counterparts on Tuesday night, and the decline of the yen led to an increase in the profits of exporters. The Nikkei index jumped 2.01 …

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• 10 January 2024 11:04 am

  Oil Prices Extend Gains Amidst Mixed Inventory Data and Global Tensions

  

  On Wednesday, oil prices continued their upward trajectory from the previous day, supported by data indicating a more significant-than-expected decline in US crude inventories last week. However, gains were tempered by a larger-than-anticipated increase in gasoline and distillate inventories. Brent crude futures saw an increase of 29 cents, or 0.4 …

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