Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 31 January 2024 8:01 pm

  US dollar declines following surprise negative ADP data

  

  Ahead of the Fed meeting, the US dollar experienced a fall following a false positive surge higher. Traders were taken aback by the negative ADP figure. The US Dollar Index is still trapped in its trend, circling the 200-day SMA. At 103.102, the DXY chart shows a loss of -0.031%.The …

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• 31 January 2024 7:40 pm

  Gold surges on weak US jobs data, ahead of FOMC decision

  

  Gold is trading at $2052.99 per ounce at the time of writing. The price of the precious metal surges by 0.77% ahead of the Federal Reserve’s monetary policy announcement, with the focus mainly on the bank’s future interest rate guidance. Expectations for early rate cuts by the Fed increased as …

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• 31 January 2024 5:53 pm

  When might the Bank of England initiate interest rate cuts

  

  The Bank of England (BoE) is expected to acknowledge rapid progress in reducing inflation during its first meeting of 2024. Despite analysts anticipating a hold on interest rates at 5.25%, the central bank’s policy announcement on Thursday will be accompanied by new forecasts, reflecting the projected decline in UK inflation …

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• 31 January 2024 4:43 pm

  Dollar is poised for huge monthly gains ahead of the Fed’s decision

  

  In early European trading on Wednesday, the US dollar maintained its strength, poised for the most significant monthly gain since September. Meanwhile, the euro faced headwinds following weak inflation data, contributing to the dollar’s appeal. Geopolitical tensions in the Middle East and economic data played crucial roles in shaping currency …

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• 31 January 2024 3:09 pm

  China’s Manufacturing Contracts for Fourth Consecutive Month, Signaling Economic Challenges in 2024

  

  China’s manufacturing sector has experienced its fourth consecutive month of contraction in January, according to an official survey released on Wednesday. The data suggests ongoing challenges for the large sector and the broader economy in regaining momentum at the outset of 2024. The official purchasing managers’ index (PMI) for the …

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• 31 January 2024 2:15 pm

  Gold Prices Edge Lower on Easing Rate Cut Expectations

  

  Gold prices are poised to register their first monthly decline in four months as investors recalibrate expectations for rapid and substantial cuts in US interest rates, given the robust state of the economy. Anticipation surrounds the Federal Reserve’s monetary policy decision later on Wednesday, influencing market sentiment and gold’s performance. …

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• 31 January 2024 1:44 pm

  European Stocks Extend Gains, Awaiting US Federal Reserve Decision

  

  European stocks continued their upward trajectory on Wednesday, marking the sixth consecutive session of gains. The financial sector played a pivotal role in supporting the positive momentum as traders eagerly awaited the US Federal Reserve’s monetary policy decision later in the day. Market Performance: As of 0822 GMT, the European …

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• 31 January 2024 1:13 pm

  Japan’s Nikkei closed higher recorded its best performance since 1998

  

  Japan’s Nikkei index has concluded January 2024 with its most robust performance since 1998, showcasing resilience in the face of early declines led by chip company stocks. Overcoming initial setbacks, the index rebounded, securing its place as the best-performing market globally for the month. Market Recovery and Impressive Gains:The Nikkei …

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• 31 January 2024 12:46 pm

  Alphabet achieves revenue below expectations in Q4

  

  Alphabet Inc, the parent company of Google, found itself on the wrong side of investor expectations as holiday ad sales fell short, leading to a six percent drop in its shares during after-hours trading. The company also disclosed plans for increased spending on components like servers running artificial intelligence (AI), …

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• 31 January 2024 12:40 pm

  Geopolitical Tensions: A Comprehensive Overview of Current Oil Market Dynamics

  

  In the dynamic landscape of global oil markets, recent developments have sent ripples through the industry, influencing price movements and creating an environment of uncertainty. This article delves into the various factors impacting oil prices, ranging from geopolitical tensions in the Middle East to economic indicators that shape the market …

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• 31 January 2024 2:29 am

  Market Drivers – US Session, January 30

  

  WTI crude oil was 1.35% higher, trading at $77.82 per barrel following a sharp correction decrease on Monday. The price of crude oil rebounded, bolstered as always by enduring geopolitical concerns in the Middle East and the Red Sea conflict.The week began well for gold prices, which briefly tested the …

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• 31 January 2024 1:13 am

  Ten major banks downplay likelihood of imminent policy change by FOMC

  

  Expectations have been published as projected by analysts and researchers of ten big banks ahead of the US central bank’s interest rate decision announcement on Wednesday, January 31 at 19:00 GMT. Since the Fed is projected to maintain interest rates in the range of 5.25%–5.50% for the fourth consecutive meeting, …

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• 31 January 2024 12:19 am

  No policy change expected as FOMC goes on with soft landing plan

  

  Since the Fed is projected to maintain interest rates in the range of 5.25%–5.50% for the fourth consecutive meeting, no policy changes are anticipated. The news conference by Chair Jerome Powell will be crucial. Investor attention will be focused on any possible rebuttal to market conjecture about rate reductions. Financial …

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