Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 2 August 2024 10:19 am

  Gold Prices Surge Amid Market Turmoil and Safe Haven Demand

  

  Gold prices climbed in Asian trading on Friday, approaching record highs as concerns over an economic slowdown spurred investors to seek safe haven assets. This trend was supported by a combination of interest rate speculation, geopolitical tensions, and weak economic data. Safe Haven Buying and Interest Rate Speculation The surge …

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• 2 August 2024 7:32 am

  Apple Q3: Beating Fueled by Service Boom

  

  Apple defied analyst expectations in its third-quarter earnings report, exceeding targets for both earnings per share and revenue. However, the win came with a caveat: a decline in iPhone sales, a key revenue driver.China Challenge PersistsWall Street’s focus was on Apple’s performance in China, a crucial market. While the company …

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• 2 August 2024 3:06 am

  Market Drivers; US Session, August 1

  

  The US dollar emerged as a clear safe-haven asset, rallying significantly amidst a broader risk-off environment. The greenback’s strength was exacerbated by a cautious monetary policy stance adopted by the Bank of England, which opted for a 25 basis point rate cut while expressing concerns about the potential for further …

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• 2 August 2024 2:37 am

  What is expected to NFP and other US jobs data? July 2024

  

  The most important US employment data of the month is expected to be released on Friday amid expectations of a significant decline in job growth in the United States, with a stable unemployment rate and a decline in wage growth. On the first Friday of each month, US employment data …

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• 2 August 2024 1:49 am

  Oil Prices Surge Though Poised for Fourth Weekly Decline Amid Middle East Tensions

  

  Oil prices experienced a modest uptick on Friday, August 1st, 2024. However, this increase is unlikely to prevent a fourth consecutive week of losses. Concerns about slowing global economic growth and declining demand are overshadowing the potential impact of rising tensions in the Middle East. The primary driver behind the …

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• 1 August 2024 10:10 pm

  Bitcoin Price Ignores Rate Cut Expectations

  

  Despite the Federal Reserve adopting a dovish tone during the FOMC meeting, Bitcoin’s price remained weak. Fed Chair Jerome Powell hinted at a rate cut in September, which had already been priced in by the market at 0.25% odds.While US equities responded positively, the crypto market showed little interest, with …

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• 1 August 2024 9:48 pm

  Dollar Maintains Gains Following FOMC Meeting

  

  The US Dollar rebounded after the Federal Reserve’s (Fed) decision, with market participants focusing on Friday’s Nonfarm Payrolls data. Despite signs of disinflation, the strong US economic landscape led Fed Chair Jerome Powell to maintain a data-dependent stance. While chances of a rate cut in September increased, Powell’s demand for …

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• 1 August 2024 7:24 pm

  XAU/USD climbs above $2,450 as NFP eyed

  

  Gold prices surged past $2,450 on Thursday, fueled by the Federal Reserve’s (Fed) signal of potential rate cuts and escalating tensions in the Middle East. The Fed expressed increased confidence in a slowing inflation rate during the second quarter, bolstering expectations for a policy shift.The XAU/USD index reached a two-week …

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• 1 August 2024 1:57 pm

  Dollar bounces after Fed decision while pound slides before BoE

  

  The U.S. dollar rebounded on Thursday following a decline the previous day, as central bank decisions continued to impact currency markets. The dollar index, which measures the dollar against six major peers, rose by 0.29% to 104.35. This recovery came after a 0.4% drop the day before, when the Federal …

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• 1 August 2024 1:27 pm

  European shares lower on earnings

  

  Major European equity markets experienced declines on Thursday, impacted by corporate earnings reports from both the U.S. and Europe. Meanwhile, expectations of forthcoming policy easing in the United States supported global bond markets. The Federal Reserve maintained interest rates on Wednesday but hinted at a potential cut in September. Traders …

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• 1 August 2024 3:56 am

  Jerome Powell Takes Center Stage After Fed’s Interest Rate Decision

  

  The Federal Reserve, under the leadership of Chairman Jerome Powell, has demonstrated unwavering commitment to aligning and determination to adjust its actions with market expectations. Their recent decision to maintain interest rates without deviation from prevailing trends reflects this resolve. By doing so, Powell aims to instill confidence in investors …

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• 1 August 2024 3:35 am

  Which scenario will BoE meeting follow?

  

  The Bank of England faces a critical decision on interest rates as policymakers weigh whether to reduce borrowing costs for the first time since the onset of the Covid-19 pandemic. Following a significant decline in inflation this year, Threadneedle Street is poised for its first rate cut since raising interest …

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• 1 August 2024 2:45 am

  Market Drivers; US Session, July 31

  

  BoJ Surprise, Fed Signal: The unexpected rate hike by the Bank of Japan (BoJ) surprised the foreign exchange (FX) world on Wednesday. The Fed left its policy rate unchanged but signaled a potential rate cut in September.Upcoming Events:Bank of England (BoE) decision: Odds are split regarding a probable rate reduction. …

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