Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 23 April 2024 8:15 pm

  Strong UK PMIs, BoE Pill’s Hawkishness Boost Sterling

  

  The Pound Sterling rebounds from 1.2300 on robust increase in UK Services preliminary PMI for April. The UK preliminary Services PMI data surprisingly jumped to 54.9 from 53.1Two BoE policymakers are lined up to speak as investors seek clues about the interest-rate outlook. The Pound Sterling (GBP) bounces back from …

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• 23 April 2024 5:32 pm

  Reuters: Federal Reserve Expected to Cut Rates in September

  

  According to a recent Reuters poll of 100 economists, the majority now anticipates that the U.S. Federal Reserve will hold off on cutting its key interest rate until September. This contrasts with earlier expectations of a June rate cut and subsequent cuts throughout the year. Half of the economists surveyed …

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• 23 April 2024 3:58 pm

  Euro at its highest levels since 2008 against Yen

  

  On Tuesday, the Japanese yen plummeted to multi-year lows against both the dollar and the euro, prompting heightened vigilance among traders for potential government intervention ahead of the Bank of Japan’s upcoming meeting. Conversely, the British pound saw a decline to its lowest levels in several months following dovish remarks …

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• 23 April 2024 2:56 pm

  Oil rises supported by strong data from the European Union

  

  On Tuesday, oil prices saw an increase, buoyed by robust economic data from Europe and the ongoing consideration of potential new US sanctions on Iranian oil exports amidst continued tension in the Middle East. As of 0847 GMT, Brent crude futures climbed by 80 cents, or 0.9 percent, reaching $87.80 …

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• 23 April 2024 1:33 pm

  Technology company profits lead the European STOXX 600 to the highest level in a week

  

  European stocks surged on Tuesday, reaching their highest levels in over a week, driven by strong corporate earnings that instilled confidence among traders. The technology sector spearheaded the gains, with the Financial Times index in Britain hitting its all-time high. As of 0712 GMT, the European STOXX 600 index climbed …

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• 23 April 2024 12:22 pm

  Gold falls to its lowest level in more than two weeks as concerns in the Middle East subside

  

  Gold prices fell on Tuesday to their lowest levels in more than two weeks as fears of a broader conflict in the Middle East receded, boosting investors’ appetite for risk and reducing demand for gold as a safe haven. Gold fell in spot transactions about 1 percent to $2,304.99 per …

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• 23 April 2024 3:45 am

  Market Drivers; US Session, April 22

  

  The risk-linked financial assets received much-needed oxygen from diminishing geopolitical fears at the start of a week that will be dominated by impending US inflation numbers and corporate earnings reports. The US dollar posted modest gains during a rather unremarkable start to the week, helping to keep the USD Index …

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• 23 April 2024 3:36 am

  AUD/USD surges on improved risk appetite, positive PMIs

  

  The Australian dollar (AUD/USD) has risen over 0.54% against the US dollar, reaching 0.6449, driven by gains in Wall Street and a flat US Dollar. The Australian Manufacturing PMI, which rose to 49.9 in April, indicates expansion. The US Economic Data Center (CFNAI) also showed a rise in March, with …

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• 23 April 2024 2:25 am

  GBP/USD maintains defensive mark ahead of UK, US PMI data

  

  The GBP/USD pair is on the defensive near 1.2350 during the early Asian session, with the USD Index consolidating gains above 106.10 as traders await preliminary S&P Global Purchasing Managers Index (PMI) data from the US and UK for April. Fed policymakers agree that inflation in the US is slow …

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• 23 April 2024 12:59 am

  Gold price retreats to one-week low on easing geopolitical tensions

  

  Easing geopolitical threats and a rising US dollar cause gold to retreat substantially from recent highs. Gold is -2.75% down; trading at $2326.10 per ounce at the time of writing. Gold prices are under pressure because Fed members, particularly Chairman Powell, have a hawkish view on interest rates. As expectations …

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• 22 April 2024 11:17 pm

  Dow Jones advances amid improved risk appetite

  

  The Dow Jones climbed to a five-day high on Monday near 38,400.00 before settling close to 38,230.00 at the closing bell. The major equity index is still down over 4% from late March’s record peaks, but it continues to pump the brakes on any meaningful declines, trading well above the …

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• 22 April 2024 10:07 pm

  Will SNB become the first Western central bank to hold Bitcoin reserves?

  

  Switzerland’s central bank is urged by a group of Bitcoin supporters to include Bitcoin in its strategic reserves. A campaign to persuade the Swiss National Bank (SNB) to include Bitcoin in its balance sheet has been started by a group of proponents of the cryptocurrency in Switzerland. The nonprofit group …

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• 22 April 2024 9:48 pm

  Canadian dollar recovers ahead of US PMI figures

  

  As data-driven markets wait for the US PMI reading, the Canadian dollar finds space on the upper side. Up to Wednesday’s CAD Retail Sales, there is still insufficient data for Canada. US PMIs on Tuesday are predicted to indicate a modest increase in activity.On Monday, the Canadian dollar saw a …

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