Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 23 January 2024 3:18 am

  Gold holds above $2,020 ahead eof key central bank meetings

  

  Gold prices remain range-bound at $2021.48, trading at the time of writing. Markets are cautious ahead of a busy week of policy meetings with central banks, including the Bank of Japan. The US Dollar Index moves in a tight range around 103.32. The Fed Funds Futures market sees no change …

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• 23 January 2024 2:34 am

  Market Drivers – US Session, Jan. 22

  

  Monday’s market was driven by shifting trends in risk appetite. This week will see a lot of G10 central banks make interest rate decisions, which will likely affect the tone of the overall market as well as important US data releases and advanced PMIs. With fluctuating appetite for risk and …

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• 23 January 2024 1:26 am

  Bank of Japan expected to hold rates amid need for hints on inflation status

  

  The central bank of Japan unlikely to make a move on Tuesday, when it is anticipated to see no changes to the Bank of Japan’s key monetary policy settings, with the major focus being on how Governor Kazuo Ueda evaluates the progress made in achieving the sustainable inflation required to …

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• 23 January 2024 12:22 am

  Treasury yields decline following upbeat data

  

  US Treasury bond yields decline on Monday from record highs this year after positive batches of US data revived hope that a “soft landing” could be achieved by the Federal Reserve.The Consumer Confidence Index issued by the University of Michigan rose this January to 78.8 points, compared to the previous …

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• 22 January 2024 11:34 pm

  European stocks extend recent gains amid recent FOMO wave

  

  In general, European indices surged to begin the new business week. In a nod to last week’s bidding fervor, risk appetite is driving stocks higher. Investors suffering from FOMO are prioritizing stocks above data threats.Monday saw gains in all of the European equity indexes as traders piled into the market …

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• 22 January 2024 10:22 pm

  US dollar experiences mild losses ahead of PCE data

  

  The Dollar Index, or DXY, is trading at roughly 103.20 and is slightly down. This week’s important US inflation and economic activity reports are due. The market’s predictions about the Fed’s rate cuts keep changing. At 103.25, the dollar is presently trading slightly lower. This small decline is due to …

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• 22 January 2024 8:35 pm

  Canadian dollar has thin trading ahead of BoC decision

  

  The Canadian dollar is experiencing limited momentum as markets flatten out in a quiet North American trading session. The Bank of Canada’s rate decision on Wednesday is expected to have a limited impact on the Canadian dollar. The latest New Housing Price Index figures from Canada are due in the …

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• 22 January 2024 4:42 pm

  Gold is heading for its worst performance in six weeks

  

  Gold prices are experiencing a global decline in current trading moments on Monday. Traders are eagerly awaiting the release of the Federal Reserve’s preferred inflation measure later this week, a factor that could impact the central bank’s decisions on interest rates and market expectations for the upcoming weeks. Last week, …

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• 22 January 2024 2:26 pm

  European stocks open higher, focus on ECB decision

  

  European stocks started the week on a positive note, reflecting the gains seen on Wall Street, where the Standard & Poor’s index reached a record high in the previous session. Traders are eagerly awaiting the upcoming monetary policy decision from the European Central Bank scheduled for later in the week. …

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• 22 January 2024 1:07 pm

  Dollar struggles to maintain its gains and all eyes are on central bank meetings

  

  On Monday, the dollar attempted to maintain its gains amid anticipated central bank decisions in Japan and Europe, as well as shifting market expectations about potential US interest rate cuts. Trading remained relatively calm, except for the yen, which moved away from a one-month low on Friday, rising to 147.74 …

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• 22 January 2024 11:55 am

  The People’s Bank of China keeps interest rates unchanged

  

  The People’s Bank of China has opted to maintain the country’s interest rates at 3.45%, in line with market expectations. Similarly, the 5-year lending rates were retained at 4.2%, aligning with the anticipated and priced-in scenario. However, the People’s Bank of China surprised the markets by keeping the interest rate …

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• 22 January 2024 10:29 am

  Oil continues to lose due to unfavorable economic factors

  

  Oil prices declined for the second consecutive day on Monday, influenced by persistent concerns about global demand amidst challenging economic conditions. This overshadowed geopolitical tensions in the Middle East and an attack on a Russian fuel export terminal over the weekend. As of 0105 GMT, the price of Brent crude …

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• 22 January 2024 6:10 am

  Financial Markets’ Weekly Recap

  

  The performance of financial markets exhibited a range of dynamics over the past week. Notably, strength was observed in the performance of oil and the dollar, while gold experienced a marginal decline in its gains. Several key factors acted as primary drivers influencing market movements. Among these, the ongoing Red …

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