Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 5 February 2024 10:57 am

  Oil Prices Stabilize Amidst Middle East Tensions and Ceasefire Efforts in Gaza

  

  In the early hours of Monday’s Asian trading session, oil prices steadied following significant declines last week. The market’s focus remained on ongoing attempts to negotiate a ceasefire agreement in the Gaza Strip. Despite these diplomatic efforts, the United States has signaled its intention to carry out additional attacks on …

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• 5 February 2024 6:31 am

  The Global Financial Pulse – Weekly Recap

  

  The past week proved to be a rollercoaster for global financial markets, dominated by pivotal events that shaped the economic landscape. From the Evergrande saga to pivotal interest rate decisions and robust US job data, here’s a comprehensive breakdown of the week that was. American Interest – The Fed’s Pause …

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• 3 February 2024 1:30 am

  Market Drivers – US Session, February 2

  

  Gold is -0.85% down, trading around $2037 per ounce at the time of writing, obviously impacted by the rallying US dollar following surprise NFP reading on Friday.European equities gained after the US Nonfarm Payrolls reached a one-year high, pushing investors further away from rate cut expectations. The pan-European STOXX600 index …

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• 3 February 2024 1:11 am

  EUR/USD falls on stronger dollar following NFP data

  

  The EUR/USD pair is losing important technical control after the US Jobs Report outperformed expectations, with US Nonfarm Payrolls reaching a one-year high and causing substantial upward revisions to earlier data points. The pair is trading at 1.0792, down -0.72% as of writing.The US economy continues to impress investors, with …

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• 2 February 2024 11:14 pm

  Dollar advances as traders abandon rate cut hopes in March

  

  The DXY Index rallied by over 0.80% to 103.90 on Friday, with US Nonfarm Payrolls surpassing expectations for January. US bond yields are increasing as markets push towards May’s start of the easing cycle.Fed Chair Powell confirmed that a March rate cut is unlikely despite market speculation, and the bank …

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• 2 February 2024 10:30 pm

  Explainer: Why have commodities largely fluctuated in January?

  

  In January 2024, financial markets were active and turbulent, with investors initially rejoicing as inflation fell and sectors such as semiconductors saw big gains. However, a hawkish central bank and geopolitical concerns tempered confidence, while dropping oil prices and stricter investment conditions put adverse pressure on investors.Financial markets continued its …

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• 2 February 2024 9:19 pm

  USD/JPY surges to fresh highs post solid US jobs data

  

  The USD/JPY pair is climbing over 0.90% to 148.05 after a strong US jobs report and higher Treasury yields. January’s 353K job additions lessen Fed rate cut forecasts, indicating a tighter labour market.The US 10-year Treasury yield and Dollar Index signal robust confidence in the US economy. The pair is …

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• 2 February 2024 8:46 pm

  S&P 500, Nasdaq leap on soaring tech earnings including Meta

  

  The S&P 500 and Nasdaq rose on Friday due to strong tech earnings and a stronger-than-expected jobs report. The broad market index added 1.3%, while the Nasdaq Composite climbed 1.9%. Meta shares soared over 22% after defying analysts’ expectations. The company announced it will pay a quarterly dividend for the …

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• 2 February 2024 7:56 pm

  Consumer sentiment at highest level since July 2021

  

  Consumer sentiment in the United States has hit its highest point since July 2021, with consumers anticipating increases in both inflation and personal income.According to the University of Michigan’s Surveys on Consumers, the index reached this level after a 13% month-over-month improvement in January, which was preceded by a 14% …

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• 2 February 2024 6:34 pm

  US dollar gets prepared for winning week post surprise NFP data

  

  The US dollar has rallied and was able to hold on to gains after the January Jobs Report, with the US Dollar Index popping over 103 and on track to break 104 soon. At the time of writing the Dollar Index is at the 103.883 mark.The NFP report showed a …

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• 2 February 2024 4:10 pm

  Turkey Reports Significant Reduction in Trade Deficit in January

  

  Analysis of Trade Minister’s Announcement on Economic Indicators Turkey’s Trade Minister, Omer Polat, announced on Friday that the country witnessed a substantial reduction in its trade deficit, marking a positive development for the nation’s economic indicators. According to Polat, the trade deficit shrank by 56.8 percent year-on-year, amounting to $6.17 …

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• 2 February 2024 3:27 pm

  European Stocks Gain Ground on Positive Corporate Reports and Wall Street Momentum

  

  Analysis of Market Movement and Notable Performers As the trading day commenced in Europe, stocks experienced an upward trajectory on Friday, driven by a slew of positive reports from regional companies. The European STOXX 600 index, a broad gauge of European equities, rose by 0.4 percent by 0830 GMT, signaling …

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• 2 February 2024 1:19 pm

  Dollar Retreats on Positive Tech Earnings and Market Optimism

  

  Analysis of Dollar Movement Amidst Positive Market Sentiment On Friday, the US dollar experienced a decline as risk appetite surged, propelled by positive business results from major technology companies on Wall Street. Investors eagerly awaited the release of the closely watched non-farm payrolls report later in the day, seeking insights …

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