Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 12 August 2024 8:06 pm

  Canadian Labour Market Expected to Remain Weak

  

  The Canadian labour market report for July, released on Friday, once again underlined why the Bank of Canada (BoC) has now cut interest rates for the second time. Instead of the moderate job growth that economists had been expecting, we saw job losses (albeit very small ones) for the second …

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• 12 August 2024 7:13 pm

  BoA top official urges Fed to cut interest rates in September

  

  Brian Moynihan, the CEO of Bank of America, requested the Federal Reserve to lower interest rates in order to relieve pressure on American customers during a week marked by significant volatility in the U.S. economy and market worries. “They’ve got to be more careful than the downside of not starting …

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• 12 August 2024 6:34 pm

  Sterling steadies in calm start to UK/US Inflation

  

  The Pound Sterling moves higher against the US Dollar on improved market sentiment. BoE’s Mann warns about upside risks to price pressures.In September, the Fed is anticipated to lower interest rates by 25 basis points. During Monday’s North American session, the Pound Sterling (GBP) advances versus its major rivals, with …

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• 12 August 2024 12:43 pm

  Oil Extends Gains for Fifth Consecutive Session Amid Mideast Tensions and Supportive U.S. Data

  

  Oil prices extended their upward momentum on Monday, marking a fifth consecutive session of gains, driven by easing U.S. recession fears and escalating geopolitical tensions in the Middle East. The market continued to build on last week’s strong performance, which saw more than a 3% rise in prices. Brent crude …

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• 12 August 2024 10:41 am

  Financial Markets’ Weekly Recap: Markets Hold Steady, Eyes Turn to Upcoming Inflation Data

  

  For investors who anticipated a smooth 2024, last week painted a different picture of the market. The week started with a sharp drop in the Dow Jones on Monday, sparking a wave of negative headlines predicting further losses. The following days were marked by wild swings, including some sharp gains. …

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• 5 August 2024 2:31 pm

  Gold Prices Retreat Slightly but Remain Near Record Highs Amid Economic Concerns

  

  Gold prices edged lower on Monday but remained close to record highs as increased safe haven demand continued to support the yellow metal amid growing concerns over a slowing global economy. Market Performance Spot Gold: Dropped 0.8% to $2,424.01 an ounce by 06:00 ET (10:00 GMT).Gold Futures (December): Fell 0.2% …

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• 5 August 2024 12:19 am

  Financial Markets’ Weekly Recap: Markets in Freefall Post-NFP Data

  

  A shocking jobs report sent shockwaves across financial assets on Friday, triggering concerns about an undesired looming recession and prompting a steep decline in both traditional and crypto assets. The US Bureau of Labour Statistics reported a worrisome increase in unemployment, along with a three-year high for temporary layoffs and …

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• 3 August 2024 2:33 am

  Following BoE Decision, GBP/USD Recovers on Dismal US Jobs Data

  

  The Pound Sterling managed to recoup some losses against the US Dollar on Friday, buoyed by a significantly weaker-than-expected US Nonfarm Payrolls (NFP) report. The data revealed a sharp slowdown in job growth, casting doubt on the resilience of the US economy and prompting a broad-based decline in the dollar.Despite …

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• 3 August 2024 1:16 am

  US Dollar Faces Pressure After Soft NFPs in July

  

  The US Dollar (USD) encountered significant selling pressure following the release of the July jobs report. The disappointing NFP figures triggered concerns about the health of the US economy and raised expectations of a rate cut by the Federal Reserve (Fed) in September. Let’s delve into the details:NFP Growth Falls …

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• 2 August 2024 11:48 pm

  Market Sentiment Shifts Amid Economic Data

  

  Recent economic indicators have precipitated a sharp downturn in the stock market, signaling a potential shift in investor sentiment. A series of weaker-than-expected data points, culminating in July’s employment report, has triggered a market sell-off. The S&P 500 and Nasdaq Composite have experienced significant declines, with the latter entering correction …

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• 2 August 2024 10:38 pm

  “Fed’s Goolsbee: If Inflation and Jobs Continue to decline, Fed Should Cut”

  

  Austan Goolsbee, President of the Federal Reserve Bank of Chicago, emphasized that the Fed should avoid reacting hastily to isolated data points. Despite US Nonfarm Payrolls falling below expectations, Goolsbee acknowledged significant progress in both inflation and jobs data over recent months.Key Quotes: The labour market is showing signs of …

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• 2 August 2024 8:04 pm

  Chevron’s Earnings Disappoint, Hess Deal Delayed

  

  Chevron Corporation reported a significant decline in second-quarter earnings on Friday, sending its shares down by 3%. The oil giant also revealed that its planned $53 billion acquisition of Hess Corporation is likely to be postponed until mid-2025, if not entirely blocked. This news follows recent statements suggesting a potential …

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• 2 August 2024 6:58 pm

  NFP Data Has Sent Mixed Messages Across Key Assets

  

  Latest NFP data has sent mixed messages to investors, resulting in significant movements across global financial markets, particularly affecting the US dollar, oil, and gold.In July, the Non-Farm Payrolls report showed an increase of 114,000 jobs in the United States, significantly lower than the previous reading of 179,000 jobs and …

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