Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 28 February 2024 9:22 pm

  Bitcoin stabilizes after soaring past $63000 amid cautious optimism

  

  Bitcoin has hit $63000 after more than two years below this level, and liquidations have surpassed $277 million in the last 24 hours. This massive rally in the pioneer cryptocurrency could be attributed to the spot ETF approval. Bitcoin price has shattered past the $63000 threshold, with the bulls not …

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• 28 February 2024 8:14 pm

  EUR/USD falls as attention shifts to EU, US inflation data

  

  The EUR/USD pair has fallen for the second consecutive day against the US dollar as investors assess recent data from the US, revealing the economy remains strong. The US Bureau of Economic Analysis reported the second estimate of GDP for the last quarter of 2023, coming a tenth lower at …

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• 28 February 2024 7:21 pm

  Confidence in Eurozone Economy worsened in February

  

  According to a survey of managers and consumers, confidence in the eurozone economy unexpectedly declined in February as attitude soured across all sectors.According to a forecast survey released by The Wall Street Journal, the eurozone sentiment indicator, an overall measure of business and consumer confidence, defied the tiny gain projected …

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• 28 February 2024 3:26 pm

  European Stocks Dip Amid Weak Corporate Earnings, Awaited Inflation Data

  

  European Markets Slide Amidst Lackluster Profits and Anticipation of Key Economic Indicators European stocks faced downward pressure on Wednesday as disappointing earnings from various companies subdued investor sentiment. Meanwhile, global markets remained on edge, eagerly anticipating forthcoming inflation data releases in the United States and Europe for insights into evolving …

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• 28 February 2024 1:25 pm

  Gold Prices Stabilize Amid Yield Decline, Dollar Strength

  

  Introduction: Gold Market Steadies Amidst Yield Retreat and Dollar Uptick Gold prices found stability on Wednesday as a retreat in yields on US Treasury bonds partially offset the impact of a stronger dollar. Traders remained vigilant for key inflation data releases and statements from US Central Bank officials, seeking clues …

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• 28 February 2024 12:11 pm

  Oil Prices Dip in Asia Amidst Rate Cut Delay Speculations and Rising US Inventories

  

  Oil Prices Retreat on Rate Cut Delay Speculations Despite OPEC+ Production Cut Extension Possibilities Oil prices experienced a decline in Asian trading on Wednesday, as concerns over potential delays in US interest rate cuts and a surge in US crude inventories outweighed earlier support derived from reports suggesting a potential …

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• 28 February 2024 6:27 am

  Market Drivers – US Session, February 27

  

  Markets seem to have entered a consolidative stage ahead of key data releases on both sides of the ocean, while Fed speakers and ECB officials equally appear aligned behind the idea of cutting rates later than the majority of investors anticipate.The USD Index maintained its gradual leg lower in place, …

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• 28 February 2024 2:18 am

  USD/CAD advances to near two-week high

  

  The USD/CAD pair has gained positive momentum for the fourth consecutive trading day, reaching a nearly two-week high around the 1.3545 region during the Asian session. This positive move is primarily driven by a modest increase in US Dollar (USD) demand, but bullish crude oil prices may limit further gains …

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• 28 February 2024 1:10 am

  How can China overcome its recent economic problem?

  

  The bankruptcy of Evergrande, the largest private real estate group in China, was one of the reasons that drew the world’s attention to what is happening to the world’s second largest economy. But the plight of small and medium-sized companies in China has not received the attention it deserves at …

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• 28 February 2024 12:16 am

  US bond yields continue to rise as stocks lose momentum

  

  US Treasury bond yields have continued to rise since the beginning of daily trading on Tuesday, driven by anticipation of many batches of economic data, statements by Fed officials, and earnings reports, as this week’s economic agenda is busy with many influences on price movement.Despite its tendency to rise, the …

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• 27 February 2024 11:27 pm

  EUR/USD stuck as markets focus shifts to key US data

  

  Earlier in the day, the EUR/USD pair was stuck in the middle at 1.0850. Tuesday’s US Durable Goods Orders fall in January was more than expected, and there was little to move the pair in either way. On Wednesday, investors will be watching for the most recent US Gross Domestic …

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• 27 February 2024 10:10 pm

  Oil extends rebound following Chinese demand surge

  

  WTI crude oil has gained +1.46%, and is trading at $78.52 per barrel at the time of writing. Brent crude has gained +1%, and is trading at 82.44 per barrel.Crude Oil has extended its recovery this week, with WTI crude oil reaching a new high on Tuesday. This comes as …

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• 27 February 2024 8:57 pm

  USD/JPY Slides Following Dismal US Durable Goods Data

  

  The USD/JPY pair has slid after US Durable Goods orders declined more than expected in January. Japan’s National CPI inflation fell less than expected, with the headline annualized CPI slipping to 2.2% from 2.6% for the year ended January. However, markets were expecting a print of 1.8%. US MoM Durable …

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