Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 10 January 2024 3:20 am

  Market Drivers – US Session, January 9, 2024

  

  “The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told US media outlets. A false social media post said that the SEC had approved bitcoin ETFs for trading. The price of bitcoin briefly …

  Read More »
• 10 January 2024 2:45 am

  Will Avoiding Gov. Shutdown Need Another Congressional Deal?

  

  The ongoing debate on funding this year’s federal obligations, including the US debt ceiling and top line spending cuts, is not over. Some economists believe that the top line figures are not satisfactory and lawmakers are still not satisfied with spending priorities.The current political circumstances in Washington are not conducive …

  Read More »
• 10 January 2024 2:14 am

  Gold lacks real catalyst ahead of US inflation data

  

  Although gold attracted some buyers on Tuesday, the precious metal struggled to benefit from the move up. The precious metal is trading at $2029.70 per ounce at the time of writing. The Fed’s policy stance is expected to change due to a decrease in consumer inflation expectations, which could potentially …

  Read More »
• 10 January 2024 1:00 am

  Barr: Fed’s bank funding program came to an end

  

  The Fed’s Bank Term Funding Program, which was launched during last year’s regional banking crisis, is set to end without extension according to Michael Barr, the Fed’s vice chair for supervision.The program, which allowed banks and credit unions to borrow funds for up to a year, has seen a surge …

  Read More »