Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 25 June 2024 11:22 am

  Oil Prices Stabilize Amid Cautious Market Sentiment and Strong Summer Demand

  

  Oil prices remained largely unchanged on Tuesday, following a rise in the previous session. Investors are cautiously awaiting the release of U.S. consumer price data, which could influence interest rate decisions and subsequently impact oil demand. However, expectations of increased consumption during the peak summer driving season in the U.S. …

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• 25 June 2024 10:49 am

  Asian Markets Recover Amidst Trade War Jitters and Inflation Watch

  

  Asian stocks bounced back on Tuesday, regaining some lost ground as investors cautiously awaited further developments in the potential trade war between China and the West. Upcoming inflation data also remained in focus, as it could provide clues about the future trajectory of interest rates. China’s Markets Stabilize, Trade Tensions …

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• 25 June 2024 2:35 am

  Market Drivers; US Session, June 24

  

  The recent price surge in crude oil is a result of a combination of factors, including positive demand signals from the US and escalating geopolitical tensions in the Middle East and Ukraine. Unexpected draws in U.S. oil inventories and improved gasoline demand have painted a brighter picture for crude, while …

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• 25 June 2024 1:27 am

  High Interest Rates Still Needed to Lower Inflation, Fed official Hints

  

  According to Fed official Mary Daly, higher interest rates are still required to reduce inflation and demand in the US economy. Though it’s unclear which scenario is more plausible, Daly thinks the Fed is prepared to act in response to both a deteriorating labour market and inflation staying above its …

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• 25 June 2024 12:08 am

  Canada ponders fresh tariffs on imports of Chinese EVs

  

  Canada is considering imposing new import tariffs on electric vehicles from China. This move aligns with Canada’s efforts to secure a significant role in the global electric car supply chain. Deputy Prime Minister Chrystia Freeland cited concerns about China’s excess production of electric vehicles, which Canada argues creates unfair competition …

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• 24 June 2024 11:10 pm

  Gold Benefits from Weaker USD Ahead of PCE Data

  

  Gold is benefiting from a weaker US Dollar, edging up by 0.45% amidst firm US Treasury bond yields. Investors are closely watching the upcoming PCE The Federal Reserve’s favoured inflation indicator, the PCE Price Index, is expected soon, and investors are eagerly monitoring it since it may affect expectations for …

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• 24 June 2024 9:05 pm

  The Dollar Takes a Break After a Week’s Rally

  

  The US dollar gained ground last week but stumbled at the start of this one. The Federal Reserve is urging caution on loosening its grip on interest rates too soon.Mixed economic data, like spending figures and revised GDP numbers, are on investors’ radar. On Monday, the US dollar, according to …

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• 24 June 2024 7:48 pm

  Official Suggests ECB’s Policy Divergence from Fed Temporary

  

  European Central Bank Executive Board member Isabel Schnabel downplayed the likelihood that interest rates in the euro zone will take a significantly different path from those in the US. “So far this hasn’t really played out that much,” Schnabel told a panel discussion Monday in Berlin. “The macro economy is …

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• 24 June 2024 4:15 pm

  Oil Prices Edge Higher Amidst Summer Driving Optimism, Geopolitical Concerns

  

  Oil Prices Edge Higher Amidst Summer Driving Optimism, Geopolitical Concerns Oil prices continued their upward trend on Monday, buoyed by expectations of increased demand during the summer driving season, particularly in the crucial U.S. market. As of 08:25 ET, Brent oil futures rose 0.5% to $84.78 a barrel, while West …

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• 24 June 2024 2:55 pm

  Bitcoin Miners’ Struggles Drive Crypto Sell

  

  Bitcoin’s downward spiral continues, plummeting to the $62,300 range as the new week begins. This latest sell-off is attributed to the financial strain on Bitcoin miners, who have offloaded over $2 billion worth of Bitcoin this month to offset dwindling revenues. The root of the miners’ woes lies in the …

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• 24 June 2024 2:23 pm

  U.S. Stock Futures Nudge Higher Amidst Anticipation for Key Inflation Data

  

  U.S. stock index futures saw a slight uptick on Monday, hovering near record highs as investors eagerly awaited this week’s crucial inflation data for insights into the future trajectory of interest rates. Early morning trading saw Dow Jones Futures rise 0.3%, S&P 500 Futures climb 0.1%, and Nasdaq 100 Futures …

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• 24 June 2024 1:10 pm

  Yen Under Pressure as Dollar Remains Strong, Global Markets Await US Inflation Data

  

  The Japanese yen continued to struggle against a resilient US dollar, flirting with the psychologically significant 160 level. This renewed weakness has prompted warnings from Japanese authorities, raising concerns about potential intervention to prop up the currency. The yen’s decline has been fueled by the Bank of Japan’s decision to …

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• 24 June 2024 12:13 pm

  Bank of Japan on the Cusp of Policy Shift: Rate Hike Looms as Inflation Surges

  

  A sense of urgency is building within the halls of the Bank of Japan (BOJ) as the nation grapples with surging inflation and a weakening yen. The once-unthinkable prospect of raising interest rates is now at the forefront of policy discussions, with recent meeting summaries revealing a growing consensus among …

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