Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 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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• 30 January 2024 11:06 pm

  Dow stocks decline amid economic data ahead of FOMC decision

  

  US stocks showed mixed performance on Tuesday, with the Dow Jones Industrial Average reversing higher in midday trades as investors awaited a slew of Big Tech earnings and a Fed rate decision. Financial stocks, including JPMorgan Chase, Visa, American Express, and Goldman Sachs, lifted the index. The S&P 500 also …

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• 30 January 2024 10:30 pm

  Why are surging job openings in December important?

  

  According to recently released labour data, the US employment market is still robust and there is a continued need for workers. Seasonally adjusted Bureau of Labour Statistics data released on Tuesday shows that the number of open positions in the US increased unexpectedly to an estimated 9.026 million in December.The …

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• 30 January 2024 9:15 pm

  Tech stocks push world’s largest sovereign wealth to record $213 billion profit

  

  Norges Bank Investment Management, the national wealth fund of Norway, posted a record profit of 2.22 trillion kroner ($213 billion) in 2023, mostly by virtue of the excellent returns on its investments in technology shares.One of the biggest investors in the world, the Government Pension Fund Global, stated that the …

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• 30 January 2024 8:17 pm

  EUR/GBP surges following Eurozone GDP data

  

  On Tuesday, the EUR/GBP pair rose by 0.50% to hit 0.8565. The Q4 GDP numbers for the Eurozone exceeded expectations, but the daily chart clearly shows bearish weariness. As monetary policy differences with the European Central Bank have pushed the cross lower in the previous sessions, the Bank of England’s …

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• 30 January 2024 7:14 pm

  ECB’s Makhlouf: We should remain open-minded about rate path

  

  ECB policymaker Gabriel Makhlouf said on Tuesday that the essence of data-dependency suggests that they should remain open-minded about the interest rate path, per Reuters.“With disinflation well underway, we are confident in sustainably reaching our target of 2%,” Makhlouf added. These comments didn’t have any immediate or noticeable impact on …

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• 30 January 2024 3:36 pm

  $73 million fine to HSBC Bank due to “serious shortcomings” in protecting deposits

  

  HSBC Bank has been slapped with a substantial fine of £57.4 million ($73 million) for what the Bank of England’s Prudential Regulation Authority deems as “serious failures” in safeguarding certain depositors over an extended period. This penalty marks the first of its kind under British laws designed to protect customers …

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• 30 January 2024 2:41 pm

  The German economy contracted in Q4

  

  On Tuesday, the German Federal Statistics Office reported a contraction in the country’s economy during the final quarter of 2023, fueling concerns among economists who anticipate that Europe’s largest economy may enter another technical recession in the first quarter of 2024. According to the data, Germany’s Gross Domestic Product (GDP) …

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• 30 January 2024 1:46 pm

  European stocks track Wall Street gains, rise to two-year high

  

  On Tuesday, European stocks opened slightly higher, reaching their highest levels in two years, buoyed by gains on Wall Street the previous night. The European STOXX 600 index rose by 0.2 percent at 0825 GMT, marking its fifth consecutive session of gains. The positive sentiment in European markets was influenced …

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• 30 January 2024 1:10 pm

  The Nikkei index closed higher

  

  On Tuesday, Japan’s benchmark Nikkei index closed higher, propelled by gains in chip-related stocks following positive trends on Wall Street. The index rose by 0.11 percent to close at 36,065.86 points, although there was a degree of caution among traders ahead of the Federal Reserve’s anticipated decision on interest rates …

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• 30 January 2024 11:47 am

  Oil prices rise against the backdrop of geopolitical concerns in the Middle East

  

  Oil prices experienced an uptick in early trading on Tuesday as concerns over supplies persisted amidst escalating geopolitical tensions in the Middle East. Brent crude futures saw a rise of 25 cents, or 0.3 percent, reaching $82.65 per barrel by 0105 GMT. US West Texas Intermediate crude also increased by …

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• 30 January 2024 3:17 am

  Market Drivers – US Session, Jan. 29

  

  A second strong session for the US dollar placed more pressure on the riskier assets, pushing the EUR/USD to the sub-1.0800 level and the USD Index to flirt with the upper end of the current range amid the development of usual pre-FOMC caution.Ahead of the FOMC meeting and the release …

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• 30 January 2024 2:44 am

  Is Russia really beating western sanctions?

  

  Despite opposition from the central bank, Russia is pondering an indefinite extension of the wartime capital regulations that were implemented to relieve pressure on the ruble. The step, according to the administration, is necessary to support the currency and assist curb inflation. President Vladimir Putin issued an order in October …

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