Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 8 February 2024 10:30 am

  China’s Consumer Prices Continue Decline in January

  

  Consumer prices in China persisted in their downward trajectory for the fourth consecutive month in January, highlighting the hurdles facing the world’s second-largest economy in its quest for robust recovery. Consumer Price Index Data: Decline Year-on-Year, Modest Uptick Monthly Data released by the National Bureau of Statistics on Thursday revealed …

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• 8 February 2024 10:11 am

  Gold Prices Stabilize Amidst Mixed Market Sentiment

  

  Gold prices found stability on Thursday amidst a backdrop of nuanced market dynamics, influenced by statements from Federal Reserve officials tempering expectations of imminent interest rate cuts. Additionally, geopolitical tensions escalated following Israel’s rejection of a ceasefire proposal from Hamas, adding to the complex market landscape. Market Performance: Gold Settles …

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• 8 February 2024 5:27 am

  Market Drivers – US Session, February 7

  

  Riskier assets were able to gain additional momentum due to the continuing decline in the US dollar. As global rates continued to rise on Wednesday, investors now seem to support the Fed’s rate cut in May due to ongoing geopolitical concerns.Silver prices fell to fresh two-week lows around $22.20 per …

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• 8 February 2024 5:06 am

  NYCB Explainer: Are current banking sector woes justified?

  

  Over the last 24 hours, the stock of New York Community Bank (NYCB) has declined as a result of Moody’s downgrading the bank’s credit rating to junk status. After Signature Bank failed less than a year ago, NYCB acquired its assets and placed them under a new regulatory framework. NYCB …

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• 8 February 2024 4:20 am

  AUD/USD trades sideways ahead of China’s PPI and CPI data

  

  The AUD/USD pair is moving sideways near 0.6520 in the early Asian session, with Fed officials’ comments not significantly impacting the market. Future market traders expect the first rate cuts for the Reserve Bank of Australia to occur in September, rather than August. The pair consolidates above the 0.6500 psychological …

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• 8 February 2024 2:19 am

  US dollar tanks as investors await fresh catalysts

  

  The US Dollar Index is trading neutrally at 104.15 on Wednesday, while markets assess several Fed officials’ statements to continue placing their bets on rate policy path at the next few Federal Open Market Committee meetings.The Dollar Index steadied around 104.15 on Wednesday. Remarks and comments by Fed’s Collins, Kashkari …

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• 8 February 2024 1:17 am

  Bitcoin Exceeds $44,000 as Whale Accumulation Indicates Further Surge

  

  Bitcoin has surged over $44,000 for the first time since January 12, the day after spot ETF debuts, marking a new all-time high in US equity indices. The largest and oldest crypto by market value rose from $42,700 earlier in the day to as much as $44,300, its highest price …

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• 7 February 2024 11:47 pm

  US stocks pop up as S&P heads towards 5000

  

  On Wednesday, US equities rose sharply as investors processed new quarterly profit data, while the ongoing discussion about whether to drop interest rates continued to rumble beneath the surface. The S&P 500 increased by more than 0.7%, while the Dow Jones Industrial Average increased by 0.4%. There was over a …

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• 7 February 2024 10:03 pm

  EUR/USD struggles near 1.0750 amid weaker European indicators

  

  Wednesday saw minimal movement in the EUR/USD pair as European economic indicators continued to weaken. After hitting a small intraday high of 1.0784, the pair tested back into familiar terrain near 1.0750. Since interest rates in the Eurozone peaked in September of last year, those who are interested in rate …

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• 7 February 2024 8:34 pm

  Fed’s Kugler: Cooling inflation, labour data may make rate cut appropriate at some point

  

  Federal Reserve Governor Adriana Kugler said on Wednesday that she is pleased with the great progress on inflation and added that she is optimistic that the progress will continue, per Reuters.These comments do not have an immediate impact on the performance of the US dollar versus major rival currencies. At …

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• 7 February 2024 7:20 pm

  Natural gas dives as US gas ban continues until after presidential elections

  

  Natural Gas has experienced a decline following reports that the Biden administration is set to prolong the LNG export moratorium by 9 to 12 months. Piden’s Pause ContiunesThe US Dollar Index is flirting with a break below 104 as the dollar fails to find nearby support. The LNG ban remains …

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• 7 February 2024 4:44 pm

  Gold Prices Hold Steady Amidst Fed Speculations

  

  Gold prices remained relatively stable on Wednesday as traders awaited statements from US Federal Reserve officials, which could shed light on the trajectory of interest rates for the year ahead. Spot Market Performance There was minimal movement in spot gold prices, which hovered around $2,033.02 per ounce as of 1030 …

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• 7 February 2024 3:43 pm

  EIA Raises Forecast for Global Oil Demand Growth

  

  EIA Raises Forecast for Global Oil Demand Growth In a recent statement, the US Energy Administration (EIA) announced a revised forecast for global crude oil demand, indicating an increase in growth projections for both 2024 and 2025. According to the statement released on Tuesday, the EIA anticipates a growth of …

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