Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 12 June 2024 9:28 am

  Gold Prices Steady Near Key Support Ahead of Fed Meeting and CPI Data

  

  Gold prices held steady in Asian trade on Wednesday, hovering around the crucial $2,300 support level as traders awaited further clarity on U.S. monetary policy from the Federal Reserve’s meeting and upcoming inflation data. Recent Decline and Support Level: The yellow metal has experienced a sharp decline in recent sessions …

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• 12 June 2024 5:08 am

  FOMC Decision Preview: Interest Rate Cut Still Uncertain

  

  Amid uncertainty surrounding interest rate cut forecast for the remainder of this year, the Fed meets for two days to discuss monetary policy. When this meeting ends on Wednesday, June 12, traders, analysts, and investors look forward to the decisions made there in hope of learning additional signals on the …

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• 12 June 2024 12:26 am

  Australian dollar neutrally trades on mixed data

  

  As sellers gain strength, the AUD/USD pair navigates through uneven trading. This week’s US inflation data and Fed dot plot are the main topics of interest. Mixed NAB business survey results are released by Australia. The AUD/USD pair’s performance was uneven, with some bearish pressure and a sticky range around …

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• 11 June 2024 11:37 pm

  Euro weakens against the USD ahead of Fed’s rate decision

  

  The European parliamentary elections still disrupt market confidence. US consumer price index (CPI) inflation data and the Federal Reserve’s rate announcement are scheduled for Wednesday. The Fed’s updated “dot plot,” summarizing future interest rate expectations, is highly anticipated.EUR/USD suffered its third straight loss on Tuesday as market sentiment soured due …

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• 11 June 2024 10:43 pm

  Gold price hold steady ahead of key CPI data, FOMC decision

  

  Positive sentiment prevails in the US economy, as evidenced by the May NFIB Small Business Optimism Index exceeding expectations. Upcoming data, including the Consumer Price Index (CPI) and the Federal Open Market Committee’s (FOMC) monetary policy decision with its “dot plot,” are likely to influence gold prices as inflation concerns …

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• 11 June 2024 9:37 pm

  Will June’s CPI Reading Influence US Monetary Policy?

  

  The US CPI report for June 2024 is expected to be released at 8:30am ET on Wednesday, June 12, 2024. Traders and economists expect the report to hold steady at 3.4% y/y on a headline basis, with the “Core” reading expected to fall to 3.5% y/y. The Federal Reserve’s aspirations …

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• 11 June 2024 8:16 pm

  US dollar rallies as political news impacts key rival

  

  The US Dollar Index is trading at 105.342 at the time of writing. So far on Tuesday, the dollar has consolidated Monday’s gains on the back of negative political news from Europe, with the dollar jumping after rumors saying that President of France Emanuel Macron is considering resignation. The US …

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• 11 June 2024 7:47 pm

  How do Biden and Trump’s Teams Tackle Business Concerns, Aspirations?

  

  The Biden and Trump teams are expected to engage in a long-distance economic showdown on Thursday, as both sides try to sell corporate America on their vision for 2025 and beyond. Treasury Secretary Janet Yellen will defend President Biden’s approach at the Economic Club of New York, where she will …

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• 11 June 2024 3:55 pm

  Euro Drops to One-Month Low Amid Political Concerns and Fed Focus

  

  Political Uncertainty and Rising Dollar Pressure Euro The euro fell to a one-month low on Tuesday, weighed down by political concerns in Europe and the anticipation of key U.S. economic data and Federal Reserve interest rate projections. Investor fears surrounding the rise of eurosceptics in recent European elections and the …

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• 11 June 2024 12:22 pm

  Dollar Holds Firm Amid Anticipation of US Inflation Data and Fed Meeting

  

  Euro and Yen Weaken as Investors Brace for Key Economic Updates The U.S. dollar maintained its strength, hovering near a one-month high against the euro and reaching a one-week peak against the yen on Tuesday. This resilience comes as traders anxiously await crucial U.S. inflation data and the Federal Reserve’s …

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• 11 June 2024 10:36 am

  Asian Markets Tread Cautiously Amid Political Uncertainty in Europe

  

  Asian stock markets displayed a cautious sentiment on Tuesday as investors grappled with renewed political uncertainty in Europe. Gains by right-wing parties in recent elections and the prospect of a snap poll in France have raised concerns about the cohesion of the European Union. Key Market Movements: MSCI Asia-Pacific Index: …

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• 11 June 2024 9:46 am

  Oil Prices Slip as Investors Await Key Inflation Data and Fed Meeting

  

  Oil prices edged lower on Tuesday, as market participants adopted a cautious stance in anticipation of crucial U.S. inflation data and the outcome of the Federal Reserve’s policy meeting. These events are poised to offer valuable insights into the trajectory of inflation and its subsequent impact on fuel demand. Brent …

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• 11 June 2024 3:39 am

  Market Drivers; US Session, June 10, 2024

  

  With political unpredictability engulfing Europe in the wake of the June 9 European Parliamentary elections, the US dollar gained momentum this week. The safe-haven dollar gained due to this risk aversion. The USD Index (DXY) surged above 1.05. It reached multi-week highs. Under pressure from the political concerns, the Euro …

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