Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 19 July 2024 4:25 am

  Market Drivers: US Session – July 19

  

  ECB Policy Decision, USD Gains Momentum: The European Central Bank (ECB) adhered to market expectations by leaving its policy rates unchanged. President Christine Lagarde’s remarks also failed to surprise investors. However, the US dollar (USD) regained strength, fueled by rising yields ahead of key Federal Reserve (Fed) speakers scheduled for …

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• 19 July 2024 4:11 am

  How have US stocks reacted to rate bets, statements by Fed officials?”

  

  On Thursday, US stocks experienced significant losses after profit-taking triggered by the desire to benefit from the recent gains they had achieved over the past few days. This came in the wake of increasing expectations of an interest rate cut by the Fed in September. The recent surge in stock …

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• 18 July 2024 11:14 pm

  Euro Continues to Slide After ECB’s Policy Meeting

  

  The euro has been on a downward trend since the European Central Bank (ECB) decided to keep interest rates unchanged last Thursday. The euro/dollar pair fell to 1.0900 from its previous close of 1.0935. ECB Policy DecisionThe ECB’s decision to maintain the deposit rate at 3.75% was in line with …

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• 18 July 2024 8:45 pm

  Bitcoin Stalls Despite Positive Signs

  

  Bitcoin’s price encountered resistance around $65,000 on Thursday, despite positive on-chain data indicating increased holdings among short-term investors and a slight rise in inflows to US spot Bitcoin ETFs. Analysts see the $65,000 level as a crucial hurdle for bulls to overcome.Bitcoin Struggles to Breach $65,000The price of Bitcoin (BTC) …

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• 18 July 2024 7:57 pm

  GBP/USD slides below 1.3000 despite solid UK data

  

  The GBP/USD pair falls below the 1.3000 barrier and trades with losses of more than 0.20% as the US dollar strengthens and the technical picture indicates that momentum is still bullish and the RSI is still positive despite the recent decline. Watch out for these important support levels: 1.2894, 1.2861, …

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• 18 July 2024 7:00 pm

  Fed’s Goolsbee: Inflation fight is not done but I feel a lot better

  

  In an interview with Yahoo Finance on Thursday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted that they have had multiple months of better inflation data. Goolsbee noted that he feels a lot better on inflation but added that the fight is not done yet.The US Dollar Index …

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• 18 July 2024 3:56 pm

  The Pound’s Ascent: A Year-Long High Amid Global Rate Shifts, But Can It Last?

  

  The British pound has soared to its highest point in a year, propelled by investors seeking attractive returns as global interest rates decline. However, financial experts warn that sustaining this momentum may require more than just elevated interest rates. Recent data reveals that UK inflation remains stubbornly high, prompting traders …

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• 18 July 2024 1:41 pm

  European Shares Rise on Energy Gains, ECB Decision Looms

  

  European shares experienced a modest rebound on Thursday, driven by gains in the energy sector, which offset declines in technology stocks. However, investor attention remained firmly fixed on the European Central Bank’s (ECB) impending interest rate decision. The pan-European STOXX 600 index edged 0.3% higher, breaking a three-day losing streak. …

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• 18 July 2024 12:58 pm

  Oil Prices Rise on Larger-Than-Expected Decline in U.S. Crude Stocks

  

  Oil prices continued to rise on Thursday, supported by a larger-than-expected decline in U.S. crude inventories, signaling strong demand from the world’s largest oil consumer. Brent crude futures rose 0.5% to $85.49 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 0.8% to $83.54, both building on gains from …

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• 18 July 2024 11:40 am

  Gold Prices Surge to New Heights Amid Rate Cut Optimism and Trade War Fears

  

  Gold prices continued their upward trajectory, hitting fresh record highs in Asian trading on Thursday. This surge was driven by a weakening dollar, fueled by growing expectations of U.S. interest rate cuts, as well as increasing safe-haven demand due to escalating trade tensions between the U.S. and China. Spot gold …

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• 18 July 2024 4:10 am

  Market Drivers; US Session, July 17

  

  The US Dollar declined to new four-month lows due to additional foreign exchange (FX) intervention by the Bank of Japan (BoJ), stronger expectations of rate cuts, and improved sentiment in risk-related assets.On Thursday, the European Central Bank (ECB) is likely to keep its policy rates unchanged, with investors closely monitoring …

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• 18 July 2024 3:56 am

  Explainer: Why oil recovers gain 2% after three declining days

  

  A larger-than-expected weekly decline in US crude stockpiles and a weaker US currency overcame hints of slower Chinese economic growth as oil prices rose by almost 2% on Wednesday. By 1:33 p.m. EDT (1733 GMT), Brent futures had increased by $1.35, or 1.6%, to $85.08 per barrel, while US West …

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• 18 July 2024 2:45 am

  GBP/JPY drops as rumors amid continued BoJ’s Yenterventions

  

  A return to 203.00 was seen in the GBP/JPY as markets began to expect further market intervention. On Wednesday, the Yen surged against the Pound Sterling by a whole percentage. This comes after a sharp 2% decrease and spike in BoJ spending last week. The GBP/JPY pair resumed its recent …

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