Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 25 July 2024 1:21 am

  US Stock Market Reels Following Disappointing Earnings

  

  Nasdaq has been taken by a storm. The tech-heavy Nasdaq Composite is going through a major direction change. On Wednesday, the Index saw its worst day since December 2022 as a perfect storm of worsening economic indicators and Megacap Tech companies’ disappointing reports sent shockwaves across the market. The Dow …

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• 24 July 2024 10:01 pm

  DXY retreats following the PMIs

  

  The US Dollar Index (DXY) fell towards 104.13, earlier during the North American session, immediately after the mixed PMI reading from Standard & Poor’s and the Federal Reserve’s dovish policy bets added to the US currency’s decline.It is expected that the reading of the personal consumption expenditures index, Durable Goods …

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• 24 July 2024 8:58 pm

  Eurozone Business activity halted on surprise German decline

  

  S&P Global composite PMI fell to 50.1 in July, attributed to the lack of growth of business activity in Germany and France. Eurozone business activity grinds to a halt amid surprise slump in Germany. Eurozone private-sector activity barely grew this month as its top economy Germany unexpectedly slumped, the latest …

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• 24 July 2024 7:13 pm

  After Rate Cut, BoC’s Macklem: Monetary Policy Still Restrictive

  

  In an effort to reduce price pressure and depress economic conditions, the Bank of Canada has lowered its benchmark interest rate for the second time in a row. Weakening economic circumstances and lessening pricing pressures led the central bank to decide to cut its policy rate by a quarter of …

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• 24 July 2024 1:19 pm

  Alphabet’s Q2 Results Beat Expectations, Driven by Strong Search and Cloud Performance

  

  Alphabet Inc. reported its second-quarter financial results on Tuesday, exceeding analyst expectations with notable strengths in its Search and Cloud divisions. The tech giant posted adjusted earnings per share (EPS) of $1.89, surpassing the consensus estimate of $1.83. Revenue for the quarter reached $84.74 billion, outpacing the average analyst projection …

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• 24 July 2024 12:02 pm

  Bitcoin Prices Dip Amid U.S. Political Uncertainty and Tepid Crypto Sentiment

  

  Bitcoin prices continued their downward trend on Wednesday, reflecting a broader week of losses. The decline is largely attributed to a weak risk appetite among traders, driven by growing uncertainty surrounding the U.S. political landscape. In the past 24 hours, Bitcoin fell by 1.7%, bringing its price down to $65,793.50 …

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• 24 July 2024 11:14 am

  Oil Prices Rebound as U.S. Crude Inventories Decline and Canadian Wildfires Impact Supply

  

  Oil prices experienced a notable rebound on Wednesday, halting a three-day streak of losses. The uptick in prices was driven by a combination of decreasing U.S. crude inventories and heightened supply risks due to wildfires in Canada. Brent crude futures for September increased by 40 cents, or 0.5%, reaching $81.41 …

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• 24 July 2024 2:07 am

  Can Fed, ECB Fully Adjust Their Monetary Strategies?

  

  The Federal Reserve introduced flexible average inflation targeting (FAIT) in 2019-20 to improve performance in a low interest rate world. The Fed believed it had a problem with low inflation, as its preferred measure of inflation had averaged just over 1.5% between 2010 and 2019. The review committing the central …

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• 24 July 2024 1:32 am

  Market Drivers; US Session, July 23

  

  Despite a little decline in US Treasury yields, the USD Index saw some gains and returned to the 104.50 region. The preliminary S&P Global Manufacturing and Services PMIs and advanced goods trade balance are due on July 24, with new home sales coming in second. In addition to continuing Monday’s …

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• 24 July 2024 12:29 am

  US Stocks’ Recent Uptrend halted Ahead of Tech Giants’ Earnings

  

  Stocks’ rally to record highs in 2024 has come to a pause as corporate earnings season begins to highlight the market’s true potential; Attention is now turning to the profits of the technology sector, especially the so-called “Great Seven”, the technology giants: Apple, Microsoft, Meta Platforms, Amazon, Tesla, Alphabet (the …

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• 23 July 2024 11:48 pm

  Japanese Yen Boosted Senior Japanese Politician’s Remarks

  

  By The USD/JPY pair has plummeted over 0.85% and dropped below the Ichimoku Cloud (Kumo) for the first time since January 15, hinting at possible extended downtrend. Bearish RSI suggests further falls, with supports at 155.00, 154.55, 151.86, and resistance at 156.33. A breach may push to 157.00, potentially reversing …

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• 23 July 2024 10:12 pm

  US yields, Fed rate cut bets push XAU/USD higher

  

  Gold prices have risen above $2,400, ending a four-day losing streak due to falling US Treasury yields. Market players are awaiting crucial economic data, including June’s inflation and Q2 GDP, to gauge the Fed’s next move. India’s import tax cut on gold and silver has also boosted retail demand, supporting …

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• 23 July 2024 9:14 pm

  Bitcoin Shaken, But not battered by Mt. Gox’s $2.8 Billion Outflows

  

  Tuesday saw a brief decline in the price of bitcoin when the trustee in charge of the defunct Mt. Gox exchange transferred an astounding $2.8 billion worth of the cryptocurrency into two different wallets. Though they caution of a possibly chaotic week ahead owing to impending news events, analysts believe …

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