Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 2 July 2024 4:33 am

  Market Drivers; US Session, July 1: Markets Await Speeches by Powell, Lagarde

  

  Before Fed Chair Powell and ECB President Christine Lagarde speak on Tuesday, the US dollar recovered from a negative start to the week amid growing prudence and a generalized desire for risk.CurrenciesAfter losing two straight sessions, the USD Index (DXY) turned its attention back to the crucial 106.00 level. J. …

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• 2 July 2024 3:47 am

  How can France Early elections influence Euro’s performance?

  

  The far-right in France is on the rise, according to the results of Sunday’s early elections. Marine Le Pen, the National Rally Party’s initial opponent of French President Emmanuel Macron in the previous presidential election, is leading this movement. Without a doubt, the success of this political movement would give …

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• 2 July 2024 12:53 am

  Gold prices stabilizes ahead of eventful US week

  

  The US dollar and Treasury yields continue to rise without affecting the value of gold. Mixed data on US manufacturing: For the third straight month, the S&P PMI rises while the ISM PMI falls. The US 10-year Treasury yield rises by about 9 basis points to 4.489%, supporting the dollar’s …

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• 1 July 2024 10:56 pm

  Tesla Stock Popped Ahead of Q2 Deliveries, Here is Why

  

  Tesla stocks have been on the comeback trail recently, and that continued on the first trading day of July. Shares of the leading electric vehicle maker were higher by 5.5% on Monday morning. The stock is now up by about 18% over the past month.Today’s leap comes just one day …

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• 1 July 2024 10:22 pm

  Seasonal factors propel US bond yields rally

  

  Since the start of daily trading on Monday, US bond rates have risen due to a number of very helpful variables, including seasonal and political factors as well as economic and political considerations that contributed to generating the momentum of the current rise in those yields.Ten-year US Treasury bond yields …

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• 1 July 2024 9:28 pm

  Euro surges post French elections’ first round results

  

  Since the start of daily trading, the Euro has risen due to changes in French politics that have sparked conjecture about the potential that the European economy would escape the control of the country’s far-right faction. From the previous daily close of 1.0711, the EUR/USD pair increased to 1.0725. The …

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• 1 July 2024 7:32 pm

  What does manufacturing data mean for Eurozone economy?

  

  Eurozone manufacturing activity contracted in June due to faster contractions in output, new orders, and employment, according to the latest HCOB Purchasing Managers’ survey data by S&P Global. The manufacturing Purchasing Managers’ Index (PMI) fell to 45.8 in June from May’s 14-month high of 47.3, suggesting a strong and accelerated …

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• 1 July 2024 7:12 pm

  GBP/USD retreats post softer US data

  

  The GBP/USD pair has fallen due to concerns of a potential US recession, with technical facors suggesting a neutral to downward bias. The pair has experienced a series of lower highs and lows, dragging the pair from year-to-date highs of 1.2894 toward current exchange rates. The daily moving averages (DMAs) …

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• 1 July 2024 6:28 pm

  USD/JPY surpasses 161.00 on BoJ’s uncertainty

  

  Despite the Japanese Yen’s extreme weakening, the USD/JPY remains firm above 161.00. With the Yen weakening, the BoJ anticipates tightening policy much more. The US dollar is affected by the weak US Manufacturing PMI. The USD/JPY pair moves up above 161.00 during the New York session on Monday. Amidst ambiguity …

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• 1 July 2024 5:11 pm

  Bitcoin Price Rebounds Amidst Market Uncertainty and Mt. Gox Liquidation Concerns

  

  Bitcoin’s price saw a modest recovery on Monday, rising more than 2% to $62,838.9 by 08:59 ET. This rebound came amidst broader market uncertainty and concerns surrounding the impending distribution of stolen Bitcoin from the now-defunct exchange Mt. Gox. Mt. Gox Liquidation and Potential Selling Pressure The liquidators of Mt. …

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• 1 July 2024 12:24 pm

  Eurozone Manufacturing Sector Contracts Further in June as Demand Slumps

  

  The eurozone’s manufacturing sector experienced a deeper contraction in June, as demand plummeted despite factories continuing to lower prices, according to a recent survey. HCOB’s final eurozone manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, dropped to 45.8 in June from 47.3 in May, slightly exceeding the preliminary estimate …

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• 1 July 2024 10:33 am

  Gold Prices Wobble as Fed Signals and Mixed Economic Data Create Uncertainty

  

  Gold prices experienced a slight dip in Asian trading on Monday, hovering within a narrow range as traders cautiously await key signals from the Federal Reserve and further economic data. Despite increased expectations of a U.S. interest rate cut, the yellow metal struggled to capitalize on the weakening dollar, maintaining …

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• 1 July 2024 10:04 am

  Asian Stocks Waver as Chinese PMIs Clash and U.S. Rate Uncertainty Lingers

  

  Asian stocks experienced a mixed session on Monday, with most indices hovering within a flat-to-low range. Investors grappled with conflicting signals from Chinese business activity surveys and lingering uncertainty surrounding the future of U.S. interest rates. Key Takeaways: Mixed Chinese PMIs: Government data revealed a second consecutive month of contraction …

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