Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 4 October 2024 9:44 am

  Oil Prices Hold Steady Amid Middle East Tensions, Heading for Weekly Gains

  

  Oil prices were relatively unchanged on Friday but remained on track for significant weekly gains as investors balanced the risks of potential supply disruptions due to escalating tensions in the Middle East against a well-supplied global oil market. As of 04:15 GMT, Brent crude futures slipped by 8 cents to …

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• 4 October 2024 12:50 am

  What can investors expect from looming NFP data?

  

  As on the first Friday of every month, investors await the fresh NFP figures, The US economy is expected to add 140K jobs in September, following a 142K expansion the previous month. The Unemployment Rate is expected to remain steady at 4.2% during the same period. Average Hourly Earnings is …

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• 4 October 2024 12:18 am

  After Major Crash, Bitcoin Remains Resilient

  

  Bitcoin’s price has remained relatively stable despite the escalating Middle East crisis. While the broader cryptocurrency market has experienced a significant downturn, Bitcoin has demonstrated resilience, supported by bullish sentiment in derivatives markets and a potential shift in Federal Reserve monetary policy.Despite the geopolitical tensions, Bitcoin’s price has shown remarkable …

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• 3 October 2024 11:59 pm

  XAU Stabilized Above Daily Lows Amid Geopolitical Tensions

  

  Geopolitical Tensions Fuel Safe-Haven DemandGold prices have experienced a dramatic surge, surpassing the $2,650 mark, as geopolitical tensions escalate in the Middle East. The ongoing conflict between Israel and Iran, coupled with the threat of wider regional instability, has driven investors to seek refuge in safe-haven assets like gold. The …

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• 3 October 2024 11:06 pm

  Fed’s Goolsbee: Labour market is at full employment

  

  Speaking to Chicago public radio station WBEZ, Chicago Federal Reserve Bank President Austan Goolsbee warned on Thursday that if the strike continues, supply-chain disruptions could exert upward pressure on prices and negatively impact the economy.Austan Goolsbee on Thursday said retailers and manufacturers had stockpiled about two weeks worth of items …

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• 3 October 2024 9:37 pm

  US Strong Service Sector Drives Growth

  

  The US economy continues to demonstrate its resilience, with the service sector leading the way. The Institute for Supply Management (ISM) reported a significant surge in the Services PMI for September, indicating robust growth. This positive development suggests that the economy is on a solid footing and is not at …

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• 3 October 2024 7:39 pm

  Wall Street Opens Mixed Following US Economic Data

  

  Wall Street’s main indexes were mixed on Thursday after data showed strong service activity in the world’s largest economy, while cautious investors watched for any escalation in the Middle East conflict.The benchmark S&P 500 pared losses after the Institute for Supply Management survey showed service sector activity, which makes up …

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• 3 October 2024 4:52 pm

  U.S. Jobless Claims Rise Slightly, Remain Near Four-Month Low

  

  The number of Americans filing for first-time unemployment benefits increased more than expected last week, though the figure remains close to the lowest level in four months, signaling continued strength in the U.S. labor market. Initial jobless claims for the week ending Sept. 28 rose to 225,000, up from a …

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• 3 October 2024 3:05 pm

  U.S. Stock Futures Fall as Middle East Tensions Escalate and Jobs Report Looms

  

  U.S. stock futures continued to decline on Thursday, as rising tensions in the Middle East and the upcoming release of the official jobs report weighed on market sentiment. By 06:00 ET (10:00 GMT), Dow Futures had dropped by 125 points, or 0.3%, S&P 500 Futures were down 18 points, or …

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• 3 October 2024 1:31 pm

  U.S. Dollar Rises Amid Robust Jobs Data and Middle East Uncertainty

  

  The U.S. dollar strengthened on Thursday, supported by robust employment data and geopolitical tensions in the Middle East. At 08:30 GMT, the Dollar Index, which measures the greenback against a basket of six major currencies, rose by 0.2%, reaching 101.597, close to its recent three-week high. Labor Market Strength Fuels …

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• 3 October 2024 12:14 pm

  European Stock Markets Mostly Fall Amid Middle East Conflict and Key Economic Data Awaited

  

  European stock markets declined on Thursday as ongoing tensions in the Middle East dampened investor sentiment. Traders are also awaiting the release of key regional economic activity data, particularly services PMI reports, which could influence monetary policy expectations. By 07:05 GMT, Germany’s DAX index fell 0.4%, while France’s CAC 40 …

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• 3 October 2024 11:50 am

  Oil Prices Climb Amid Middle East Conflict Despite Rising U.S. Crude Inventories

  

  Oil prices surged on Thursday as escalating tensions in the Middle East raised concerns about potential disruptions to crude flows from the key exporting region. Despite a rise in U.S. crude inventories, the threat of a widening conflict overshadowed the stronger global supply outlook. By 06:15 GMT, Brent crude futures …

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• 3 October 2024 2:05 am

  Market Drivers; US Session, Oct. 2

  

  The US dollar continued to rise and hit new three-week highs, supported by growing US rates and an ongoing risk-on attitude in reaction to escalating Middle East tensions. The US Dollar Index (DXY) surged to all-time highs of over 101.70 as a result of the ongoing risk aversion and growing …

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