Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 25 January 2024 4:40 am

  Market Drivers – US Session, Jan. 24

  

  A growing appetite for riskier assets caused gold prices to retreat during the North American session, closing in on the $2010 area. The recovery of interest in the risk complex put pressure on the dollar and drove the EUR/USD pair above 1.0900. News of further stimulus in China from the …

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• 25 January 2024 4:28 am

  ECB Rate Decision Preview: Will ECB resist rate cut for longer?

  

  It is broadly expected that the European Central Bank will keep the interest rate unchanged this January at 4.00%, amid statements made by policymakers suggesting that it is still too early to talk about reducing interest.This scenario reinforces the European monetary authorities’ assertion that any future movement on the interest …

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• 25 January 2024 4:04 am

  Coinbase share loses almost 3% after Bircoin’s decline

  

  JPMorgan has downgraded Coinbase to underweight, citing the disappointing performance of Bitcoin ETFs. The launch of spot bitcoin ETFs last year was expected to lead to a new era for cryptocurrencies, with mainstream money expected to flood the space. However, the bank cut its rating to underweight from neutral, with …

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• 25 January 2024 2:42 am

  WTI surges into $75.50 after EIA report

  

  Crude oil prices surged on the energy markets after US supplies fell more than anticipated. The US’s crude stockpiles saw a sharp decline, but refined petrol saw an increase, according to the EIA. Logistics for crude oil were hindered by the cold, but demand is predicted to rise due to …

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• 25 January 2024 2:30 am

  Crypto Lender Nexo sues Bulgaria for $3 billion in damages

  

  A $3 billion arbitration lawsuit has been made against Bulgaria by cryptocurrency lender Nexo, which claims the nation has ruined its reputation and closed off business prospects. December 2023 saw a money laundering investigation into the company by Bulgaria’s prosecutor’s office, which allows the buying and selling of cryptocurrency. Claiming …

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• 25 January 2024 12:07 am

  US stocks rally on shining earnings

  

  Earlier in the session, the Nasdaq Composite had surged more than 1%; but, by the afternoon, gains had tapered off to roughly 0.5%. Not only did Netflix lead the way in strong profits, but other major tech companies like Microsoft and Meta also had increases in their stock prices.While the …

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• 24 January 2024 10:22 pm

  Strong S&P PMIs fails to boost US dollar

  

  Despite high S&P PMIs, the US dollar is trading at a lower level; down -0.36% as per the DXY Index, which fell, earlier during the North American session to 103.05 as a result. the DXY reading is 103.149 at the time of writing. The The US S&P PMI for January …

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• 24 January 2024 9:42 pm

  Canadian Dollar roils as US PMIs overshadow BoC rate decision

  

  The Canadian Dollar has experienced a decline due to the Bank of Canada’s dovish outlook on inflation, with Canadian inflation not expected to return to the BoC’s 2% target until 2025. Money markets have reduced bets of a BoC rate cut in April to 40%, from 65% before the BoC’s …

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• 24 January 2024 8:45 pm

  BoC’s Macklem warns from giving false precision about rate cut timing

  

  Tiff Macklem, Governor of the Bank of Canada (BoC), and Senior Deputy Governor Carolyn Rogers explain the BoC decision to leave the interest rate unchanged at 5% after the January policy meeting and respond to questions from the press.Key Quotes“Inflation is still somewhat broad-based and that’s why we’re concerned about …

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• 24 January 2024 7:48 pm

  Netflix revenue beats estimates in interesting season

  

  Netflix said Tuesday that its fourth quarter subscriber additions surged, topping its own forecast and sending its stock as much as 14% higher in early trading on Wednesday.The subscriber additions of 13.12 million beat Netflix’s own forecast of about 9 million with full-year 2023 net additions sitting at roughly 30 …

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• 24 January 2024 5:33 pm

  ECB Preview: Forecasts from major banks

  

  As anticipation builds for the European Central Bank’s (ECB) upcoming Monetary Policy Decision on Thursday, January 25, financial markets are keenly focused on the potential outcomes and the accompanying commentary from ECB President Christine Lagarde. Here’s an overview of the expectations and analyses provided by economists and researchers from major …

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• 24 January 2024 3:30 pm

  Oil Prices Navigate Geopolitical Tensions and Market Dynamics

  

  In a nuanced dance between geopolitical tensions, demand considerations, and currency dynamics, oil prices exhibited mixed movements on Wednesday. The March contract for Brent crude managed a modest rise of four cents, reaching $79.59 per barrel, while US West Texas Intermediate crude mirrored the increase, ticking up four cents to …

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• 24 January 2024 2:46 pm

  Gold recovers its losses ahead of US economic data

  

  Gold prices stabilized on Wednesday, recovering from early losses. This coincided with a decline in the dollar from its six-week high and investors awaiting the release of upcoming US economic data. In spot transactions, gold settled at $2,029.39 per ounce, while US gold futures rose 0.2 percent to $2,030.50. The …

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