Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 2 January 2024 1:26 pm

  The Turkish lira falls to a new record level after falling 37% last year

  

  The Turkish currency, the lira, reached a new record low on Tuesday, dropping to less than 29.7 liras to the dollar. This decline is part of a series of losses that gained momentum towards the end of 2023, with the lira concluding the year down by approximately 37 percent. At …

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• 2 January 2024 12:11 pm

  Oil begins the new year with a 1% jump

  

  Oil prices surged by 1 percent on Tuesday, initiating the new year on a positive note. The uptick was attributed to a naval clash in the Red Sea, drawing attention to potential supply disruptions in the Middle East. Additionally, expectations of economic stimulus in China bolstered demand prospects in the …

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• 2 January 2024 11:01 am

  Bitcoin exceeds $45,000 for the first time since April 2022

  

  Bitcoin demonstrated a notable surge on Tuesday, registering a three percent increase and surpassing the $45,000 barrier. This marks a significant milestone for the world’s largest and most renowned cryptocurrency, representing a robust commencement to the new year. Bitcoin reached a 21-month high at $45,386 earlier today, experiencing a two …

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December, 2023

• 31 December 2023 11:48 pm

  Financial Markets’ Weekly Recap, December 24-28

  

  A few days ahead of the end of the 2023 trading year, the USD/JPY pair was back in the 141.00 level. Following the holidays, the US dollar had a thin week, ending the trading year on Friday with a 0.3% decline versus the Japanese yen.There was an annual loss of …

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• 29 December 2023 8:45 pm

  Oil price expected to stay near $80 on slow demand

  

  A poll conducted by Reuters, on Friday, indicated that international oil prices are expected to remain around $80 per barrel in 2024, with analysts predicting that weak global growth would limit demand and geopolitical concerns might trigger price support.Analysts questioned if supply reductions by the Organization of the Petroleum Exporting …

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• 29 December 2023 8:18 pm

  Gold approaches $2070 amid improved market sentiment

  

  Gold prices have shown strength as the US Dollar faces challenges due to improved market sentiment. Softer US data supports the Fed’s dovish stance in upcoming policy meetings, boosting investor risk appetite. Gold price was trading higher near $2,070 per ounce during the Asian session, recovering losses from the previous …

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• 29 December 2023 1:05 pm

  Oil prices are set to end the year down 10 percent due to concerns about demand

  

  As 2023 comes to a close, oil prices are poised to mark their first annual decline in two years, experiencing a roughly ten percent drop. Geopolitical concerns, production cuts, and global efforts to curb inflation have contributed to significant price fluctuations throughout the year. Current Oil Prices: Brent crude futures …

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• 29 December 2023 10:22 am

  Bets for a rate cut in 2024 are pressuring USD to end the year on a losing note

  

  As the year 2023 draws to a close, the US dollar faces the prospect of ending the year with a significant loss, erasing gains from two consecutive years. Market sentiment is shaped by expectations that the Federal Reserve may initiate interest rate cuts by March 2024, contributing to the dollar’s …

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• 29 December 2023 1:24 am

  Gold holds around $2070 amid quiet trading session

  

  Gold price remains steady at $2069.50 per ounce, despite a rebound in the US Dollar and higher US Treasury bond yields. On the data front; Initial Jobless Claims increased to 218,000, above the forecast of 210,000, and Continuing Claims reached 1.875 million, the highest in four weeks. The downside of …

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• 28 December 2023 10:09 pm

  S&P 500 closes nearest all-time highs near $4,800

  

  The S&P 500 is nearing all-time highs near $4,800, but a late-day pullback due to rising Treasury yields has pushed assets lower. The market’s risk rally, driven by rate cut expectations in 2024, has been slowed down by a surprise increase in US 7-year Treasury yields, causing a reversal of …

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• 28 December 2023 8:06 pm

  US dollar nosedives in last few trading days before 2024

  

  Thursday saw a sharp decline in the value of the US dollar following the Richmond Manufacturing Index. The US bond market is witnessing significant purchasing while the equity markets remain stable.After the US opening bell, the US Dollar Index has experienced a wild ride and is almost flat. On Thursday, …

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• 28 December 2023 2:40 pm

  USD declines against JPY and compensates for its losses against EUR

  

  The US dollar witnessed divergent movements against key currencies on Thursday, recovering from early losses against the euro while facing a decline against the Japanese yen. Investors are closely monitoring signals from the Federal Reserve, expecting a potential interest rate cut in the coming year. Dollar Index Performance: The dollar …

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• 28 December 2023 1:46 pm

  European stocks rise on expectations of interest rate cuts

  

  European stocks showcased a positive trajectory on Thursday, led by gains in mining and insurance companies. The market outlook remained optimistic as the year neared its end, buoyed by expectations that major global central banks would potentially reduce borrowing costs in the coming year. Market Overview: The STOXX 600 index …

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