Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 12 February 2024 4:55 am

  Weekly Recap: Markets bracketed by Powell’s interview, revised US inflation

  

  Due to the parity of factors that affected the trading environment over the preceding period, the price movement of practically all traded assets closed last week’s trading on the global financial markets with a moderate change.These factors started with investors’ focus on the statements and comments by Federal Reserve Chair, …

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• 10 February 2024 12:44 am

  PepsiCo earnings top estimates, but Q4 revenue slides for the first time in 4 years

  

  PepsiCo reported mixed quarterly results as North American demand for its food and drinks weakened. CEO Ramon Laguarta said that U.S. sales broadly slowed down in the fourth quarter, partly due to pricing and consumers’ disposable income situation. US consumers are also shifting their behavior from eating and drinking at …

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• 9 February 2024 11:52 pm

  EUR/USD capped below 1.0800 despite thin gains

  

  The EUR/USD pair found some room higher but still lacks upside momentum. Final German HICP and CPI inflation brought no surprises.US CPI inflation, EU GDP figures slated for next week. The EUR/USD found some room on the high side on Friday, continuing a near-term recovery. However, the pair remains firmly …

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• 9 February 2024 10:20 pm

  Gold expected to register weekly decline on surging T-yields

  

  Under pressure from high Treasury yields, gold fell on Friday and was on track for a weekly decline as investors anticipated US inflation data the next week for further hints about when the Fed will decrease interest rates.At 10:16 a.m. ET (15:16 GMT), spot gold was down 0.4% at $2,025.49 …

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• 9 February 2024 8:51 pm

  S&P 500 sets a new record high as Tech stocks lead Nasdaq’s rally

  

  The S&P 500 opened at a new all-time high above 5,000, with the Technology Sector being the best-performing major sector. The S&P 500 index rose 0.33% to trade at 5,014.3, while the Dow Jones decreased 0.18% to 38,657.35. The Nasdaq gained 0.95% to trade at 15,944. Applied Materials Inc is …

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• 9 February 2024 7:36 pm

  US dollar squashed after lower than expected revised CPI data

  

  The US Dollar is softer after weaker US CPI revisions, with the Dollar Index failing to close above the 100-day Simple Moving Average (SMA) and could slide back below 104. The S&P 500 briefly hit 5,000 after the opening of the trading session, with some risk on creeping in. The …

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• 9 February 2024 4:42 pm

  European Stocks Rise Amid Varied Performances

  

  European stocks saw a mixed but generally positive start to Friday’s trading session, with notable performances in certain sectors offsetting broader market dynamics. Here’s a breakdown of the key movements and factors shaping the early market activity: Modest Rise in European STOXX 600 Index At the open, the European STOXX …

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• 9 February 2024 3:06 pm

  Nikkei Retreats from 34-Year Peak Amid Profit-Taking

  

  The Nikkei index in Japan experienced a mild retreat at Friday’s close, stepping back from its highest level in 34 years as investors opted to cash in on gains. Here’s a breakdown of the key movements and factors influencing the market: Nikkei’s Modest Gain and Intraday High The Nikkei edged …

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• 9 February 2024 1:55 pm

  Yen Slides to Ten-Week Low as Dollar Strengthens

  

  The yen stumbled to its lowest point in ten weeks on Friday, while the dollar continued its upward trajectory for the fourth consecutive week. This shift comes as traders recalibrate their expectations regarding interest rate movements by central banks. Yen’s Decline and Dollar’s Advance The yen exhibited limited movement, hovering …

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• 9 February 2024 12:37 pm

  Germany’s Inflation Eases in January

  

  Germany’s Federal Statistics Office delivered news on Friday that confirmed earlier indications: inflation in the country receded in January, offering a potential reprieve from recent price surges. According to the official data, consumer prices, when harmonized for comparison with other European Union nations, increased by approximately 3.1 percent year-on-year in …

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• 9 February 2024 11:52 am

  Oil prices are heading for weekly gains

  

  In the realm of global markets, oil prices surged in early Friday trading, poised for significant weekly gains against a backdrop of escalating tensions in the Middle East. The region’s geopolitical landscape has been tumultuous, with Israel rejecting a ceasefire proposal from the Palestinian Islamic Resistance Movement (Hamas), further fueling …

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• 9 February 2024 11:12 am

  Gold Prices Stabilize Amid Lunar New Year Holiday

  

  Chinese Markets Closed, Dollar Strength Curbs Safe-Haven Demand Gold prices remained steady in subdued trading as Chinese markets observed the Lunar New Year holiday. Meanwhile, the dollar’s resilience dampened demand for safe-haven assets amid escalating tensions in the Middle East. Current Gold Prices and Market Activity At 0404 GMT, gold …

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• 9 February 2024 5:44 am

  Market Drivers – US Session, February 8

  

  Amid persistent rumours on a Fed interest rate cut in May, growing geopolitical concerns, and some comments implying that the ECB is not in a haste to start reducing rates, shifting trends in risk appetite ruled the mood across traded assets.In the midst of further repricing of an interest rate …

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