Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 1 April 2024 10:43 pm

  GBP/USD Falls Following US Manufacturing Data

  

  Strong US manufacturing activity and pricing pressures have caused the GBP/USD to decline, which may feed concerns of a sustained Fed policy. Due to holiday closures, the US economy is resilient while European markets are quiet. The GBP/USD exchange rate may be weighed down by upcoming UK PMI data releases, …

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• 1 April 2024 9:25 pm

  Bitcoin miners’ earnings hit a record $2 billion before halving event

  

  Bitcoin miners have reached a record $2 billion in earnings ahead of the halving event, with earnings reaching a high of $2.01 billion from rewards and transfer fees. This marks the highest revenue in the last year and the highest record month for miner income in the network’s lifetime. The …

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• 1 April 2024 7:11 pm

  Canadian dollar loses momentum on stronger US counterpart

  

  Strong US macroeconomic data has been supporting the US dollar, which has caused the Canadian currency (CAD) to lose ground. The Canadian dollar is under pressure as a result of the S&P Manufacturing PMI in Canada failing to sustain the loonie and the oil price stalling close to year-to-date highs. …

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• 1 April 2024 6:14 pm

  Gold Reaches All-Time High as US Data Revives Expectations of June Rate Cut

  

  Gold prices continued to surge to unprecedented highs on Monday following the release of data indicating a slowdown in the pace of inflation in the United States. This development reinforced expectations that the Federal Reserve could implement its first interest rate cut in June, as lower interest rates diminish the …

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• 1 April 2024 5:16 pm

  Oil Approaches Five-Month Highs Amid Anticipated Decrease in Supplies

  

  On Monday, oil prices stabilized near their highest levels in five months, buoyed by various factors including expectations of declining supplies due to OPEC+ production cuts, attacks on Russian refineries, and robust data from the Chinese manufacturing sector indicating improved demand. As of 1115 GMT, Brent crude prices dipped by …

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• 1 April 2024 3:24 pm

  Turkish stocks rise and the lira declines after the election results

  

  On Monday, Turkish stocks experienced a notable increase while the lira saw a slight decline after reaching its lowest levels ever against the dollar following the opposition’s significant victory over President Recep Tayyip Erdogan’s Justice and Development Party (AKP) in local elections. Analysts attributed the AKP’s electoral setback to factors …

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• 1 April 2024 1:08 pm

  Dollar is stable as bets increase on interest rate cuts in June

  

  The dollar was broadly stable on Monday as data showing declining inflation in the United States reinforced bets that the US central bank may cut interest rates in June, while the yen fluctuated near the 152 level to the dollar, which reinforced traders’ concerns about possible government intervention. The US …

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• 1 April 2024 12:05 pm

  Japan’s Nikkei index closes at a two-week low as a new fiscal year begins

  

  On Monday, Japan’s Nikkei index experienced a notable downturn, closing at its lowest level in two weeks, dipping below the 40,000-point mark. This decline was primarily attributed to traders opting to sell stocks to secure profits on the first day of the country’s new fiscal year. The Nikkei index recorded …

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• 1 April 2024 10:54 am

  Gold reaches a record high, supported by hopes of a US interest rate cut in June

  

  On Monday, gold prices surged to a record high following reports indicating a moderation in US inflation during February. This development heightened expectations that the Federal Reserve (the US central bank) would implement interest rate cuts in June. During spot transactions, gold prices jumped by 1 percent to reach $2,255.39 …

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• 1 April 2024 10:20 am

  Oil rises as investors bet on tight supplies

  

  On Monday, oil prices continued their upward trajectory, building on recent gains amid various factors including anticipated declines in supplies due to OPEC+ production cuts, attacks on Russian refineries, and positive data from the Chinese manufacturing sector, signaling improved demand. As of 0331 GMT, Brent crude prices climbed by 29 …

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• 1 April 2024 5:53 am

  Weekly Market Recap (25-29 March)

  

  U.S. Stocks Show Mixed Results at Close; Dow Jones Industrial Average Gains 0.12% The U.S. stock market closed with mixed results on Friday, with the Dow Jones Industrial Average reaching a new all-time high, while the S&P 500 edged higher and the NASDAQ Composite index ended lower. The Dow Jones …

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March, 2024

• 30 March 2024 2:45 am

  EUR/USD attempts to recover after dovish remarks by ECB officials

  

  After declining in response to hawkish sentiment surrounding the US Fed, the EUR/USD pair is making an attempt to rebound and is currently trading at 1.0789. Stronger inflation data may cause Fed’s Waller support the postponement of the interest rate cuts.ECB’s François Villeroy de Galhau stated that the bank can …

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• 29 March 2024 10:42 pm

  Litecoin Surges After Declared Commodity

  

  With an 11% gain in the last day, Litecoin (LTC) is now the second-best performing cryptocurrency among the top 100. This takes place on the fifth day of weak market activity, during which time Bitcoin and Ethereum saw corrections of less than 2%. The market capitalization of all cryptocurrencies combined …

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