Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 29 January 2024 10:02 pm

  EUR/GBP bears continue to exert pressure, driving to new lows

  

  The EUR/GBP is trading at 0.8525, at the time of writing, after slipping to its lowest level since August 2023 0.8520, recording 0.23% losses.The daily chart indicates strong selling pressure as the RSI approaches oversold territory. A technical correction could be imminent if indicators reach oversold conditions.As of Monday, the …

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• 29 January 2024 9:06 pm

  Bitcoin is off to upbeat start this trading week

  

  Bitcoin and other cryptocurrencies are performing well in the US equity markets due to robust economic growth and potential annual inflation slowdown. The S&P 500 Index (SPX) increased by 1.06% last week, advancing closer to the psychologically significant mark of 5,000. Bitcoin rose 2.56% to $43,126, at the time of …

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• 29 January 2024 8:47 pm

  China stocks decline despite short-selling restrictions

  

  Investors’ sentiment has become shaky following the latest Evergrande’s crisis that impacted the property sector leading it to slump. Evergrande is facing liquidation, and this is clouding the economic outlook. The Chinese authorities have been working to confront the downward trend in stock prices. Chinese share prices declined, on Monday, …

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• 29 January 2024 7:51 pm

  Fed’s rate cut timing triggers fresh questions

  

  The Fed’s decision to cut interest rates is expected to be influenced by strong US growth, which has led officials to believe they can afford to delay the process. The Federal Open Market Committee is likely to vote to leave benchmark interest rates unchanged at a 23-year high of 5.25-5.5 …

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• 29 January 2024 3:19 pm

  Gold rises as concerns mount over conflict in the Middle East

  

  Gold prices experienced an upturn on Monday, driven by heightened geopolitical tensions in the Middle East, which prompted increased demand for the precious metal as a safe-haven asset. Trading activity remained subdued as investors awaited statements from the Federal Reserve Chairman for clarification on interest rate matters. In spot transactions, …

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• 29 January 2024 1:36 pm

  European equities display a mixed performance

  

  Title: European Stock Markets Navigate a Volatile Week Amid Key Events European stock markets exhibited subdued trading on Monday as the week kicked off with a host of significant events, heightening market risks. Key among these events is the Federal Reserve’s inaugural meeting of the year. As of 03:25 ET …

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• 29 January 2024 12:30 pm

  Evergrande: Crisis-hit Chinese property giant ordered to liquidate

  

  On Monday, a Hong Kong court ordered the liquidation of China Evergrande Group, the world’s most indebted property developer with over $300 billion in total liabilities. This decision comes after Evergrande failed to provide a concrete restructuring plan more than two years after defaulting on a bond repayment. The liquidation …

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• 29 January 2024 11:17 am

  Oil prices rise after an attack on an American base on the Jordanian-Syrian border

  

  Oil prices experienced an uptick following a drone attack on the American Al-Tanf military base situated on the Jordanian-Syrian border, resulting in the deaths of three American soldiers. President Joe Biden pledged retaliation in response to the incident. Brent crude rose by 0.57% to reach $84.03 per barrel, while the …

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• 29 January 2024 4:33 am

  Weekly Recap: Investors Await Fed, Tech Giants Earning Reports

  

  Last week’s trading closed in favour of global stocks and the US dollar at the expense of gold, amid data-based support to the idea that it is possible for the Fed to achieve the “soft landing” scenario, which was evident through US economic data that the economic calendar carried to …

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• 27 January 2024 12:01 am

  Oil heading to weekly gains on strong economic outlook

  

  Oil prices edged slightly higher in choppy trading on Friday, heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand expectations, while Middle East supply concerns added further support.At the time of writing, Brent crude futures are up $1.19, or 1.49%, at …

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• 26 January 2024 11:42 pm

  US stocks dragged lower as investors digest optimistic inflation data

  

  As investors ignored Intel’s bleak outlook and considered a crucial inflation number that was thought to have an impact on when interest rates will be slashed, stocks fluctuated on Friday afternoon.Despite closing at a new high on Thursday, the S&P 500 lost 0.1%, even if it is expected to finish …

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• 26 January 2024 10:54 pm

  Bitcoin gains above 5.5% ahead of key trading week

  

  While cryptocurrencies, like Bitcoin, saw a slight increase on Friday, they continued to trade at relatively low levels ahead of the weekend. A significant event for the stock market that may also affect cryptocurrencies will unfold next week.After swinging back and forth in recent days between the psychologically significant $40,000 …

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• 26 January 2024 10:25 pm

  US Dollar experiences loss following PCE data

  

  The US Dollar Index (DXY) is experiencing losses due to weak Personal Consumption Expenditures data from December, which gave hope for earlier rate cuts. Market expectations suggest a possible Fed rate cut in March, but if economic growth sustains itself, a March cut seems unlikely. As a result, bets have …

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