Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 4 April 2024 6:32 pm

  Sterling rises following UK positive data

  

  The Pound Sterling (GBP) has risen to 1.2660 in early New York session due to the UK’s improved economic outlook and increasing home prices. The GBP/USD pair is showing strength as recent economic indicators suggest the UK economy is on track to return to growth after falling into a technical …

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• 4 April 2024 5:20 pm

  Fed’s Goolsbee sees housing price pressures as inflation’s greatest threat

  

  Outsized price rises in the housing services industry is the most significant hurdle to the Federal Reserve reducing inflation to its 2% target rate according to Chicago Federal Reserve Bank President Austan Goolsbee.Key Quotes: “If housing inflation does not come down, would be very difficult to return inflation to 2%.”“I …

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• 4 April 2024 2:38 pm

  European stocks rise ahead of inflation data

  

  On Thursday, European stocks climbed as investors awaited key inflation data and scrutinized the minutes of the European Central Bank’s recent meeting, while Basilia Pharmaceuticals saw a surge in shares following US regulatory approval of a new antibiotic. The European STOXX 600 index edged up 0.1 percent by 0720 GMT, …

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• 4 April 2024 1:41 pm

  Turkey’s trade deficit narrowed to $7.52 billion in March

  

  On Thursday, the Turkish Trade Ministry announced that the country’s trade deficit had narrowed by 10.3 percent year-on-year to $7.52 billion in March. The ministry further stated that the ongoing trend of increasing exports and decreasing imports is anticipated to persist throughout the year. According to the ministry’s statement, exports …

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• 4 April 2024 12:39 pm

  Nikkei closed higher after the end of a profit-taking wave

  

  On Thursday, the Nikkei index closed higher as investors seized the opportunity to buy stocks following a recent bout of profit-taking amidst the start of the new fiscal year. The Nikkei advanced by 0.81 percent at the close, reaching 39,773.14 points, after peaking during the session with a gain of …

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• 4 April 2024 11:28 am

  Dollar is Breathing Ahead of the Jobs Data

  

  On Thursday, the dollar steadied below recent highs as traders awaited US jobs data, finding reassurance in Federal Reserve Chairman Jerome Powell’s remarks suggesting potential interest rate cuts later in the year. The yen remained range-bound amid prospects of government intervention, showing little movement from the 151.56 level it has …

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• 4 April 2024 10:52 am

  Gold continues to soar to unprecedented levels

  

  Gold prices rose to a record level on Thursday, amid Federal Reserve officials confirming their expectations to cut interest rates in 2024, in addition to anticipating job data in the United States. Gold settled in spot transactions at $2,299.28 per ounce by 0343 GMT, after rising to an unprecedented level …

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• 4 April 2024 10:40 am

  Oil prices rise amid fears of supply shortages

  

  Oil prices rose in early Asian trading on Thursday amid concerns about supply shortages as major producers continue production cuts, coupled with signs of economic growth in the United States, the world’s largest oil consumer. Brent crude futures for June climbed 15 cents, or 0.2 percent, to $89.51 per barrel …

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• 4 April 2024 4:35 am

  Market Drivers; US Session, April 3

  

  Mixed US data, further selling pressure, risk appetite and renewed remarks by Fed officials on rate cut are the main factors that have dragged the US dollar lower and put the USD Index (DXY) on track to challenge the 104.00 support after weaker-than-expected data. Further disinflationary pressures in the Eurozone …

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• 4 April 2024 4:01 am

  US stocks edge higher after renewed remarks on rate cuts

  

  As Fed Chair Jerome Powell reaffirmed that the Fed will probably lower interest rates this year due to inflation’s “bumpy” downward trajectory, US markets saw minimal movement on Wednesday.While the Dow Jones Industrial Average decreased by around the same amount, the S&P 500 increased by roughly 0.1%. The major indices …

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• 4 April 2024 2:48 am

  Gold Rallies Following Mixed US Data, Declining T-yields

  

  The weaker US dollar and falling US Treasury yields have kept gold prices anchored around $2,300. Fed Chair Powell’s suggestion that rates might be lowered this year, if inflation keeps falling, helped the XAU/USD Index rise. US Data Lifts Gold Price Precious metals are rising even if ADP data shows …

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• 4 April 2024 12:00 am

  Tesla’s Deliveries Raise Fresh Questions About Demand, Earnings

  

  Tesla’s lower-than-expected Q1 vehicle deliveries led most analysts to lower their estimates for the electric carmaker’s full-year earnings. After a brief decline, the stock price somewhat increased by Wednesday’s closing.Unmet Goals and Business Obstacles Tesla exceeded even the most bullish expert estimates in Q1 by delivering 386,810 cars. This was …

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• 3 April 2024 11:00 pm

  Oil Prices climb as OPEC Maintains Production Cuts

  

  The price of oil kept rising, hitting a five-month high of around $90 per barrel. WTI and Brent crude are both up 0.24%. As of this writing, Brent crude is trading at $89.085 per barrel, while US crude is trading at $85.053 per barrel, up. This rise comes after OPEC …

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