Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 21 May 2024 10:47 pm

  Canadian dollar struggles amid inflation data, rate cut bets

  

  The Canadian dollar has been under scrutiny recently as investors closely monitor economic data and central bank statements. Here’s a breakdown of the recent developments and their impact on the CAD as the USD/CAD pair is 0.20% up trading at 1.3651 at the time of writing.Inflation Data, Rate Cut Bets …

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• 21 May 2024 8:52 pm

  US dollar in red ahead of FOMC minutes

  

  The US Dollar Index (DXY) is trading sideways at 104.6, with mild losses due to the cautious Fed’s hesitant approach to premature easing. The market’s focus is shifting towards the release of the Federal Open Markets Committee (FOMC) Minutes on Wednesday and mid-tier data on Thursday and Friday, including S&P …

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• 21 May 2024 7:10 pm

  Gold price slides on reluctance about rate cut

  

  Gold prices experienced significant volatility on May 21, 2024, as they corrected lower after touching an all-time high of $2,450 on the previous trading day. The pullback was driven by central banks’ communication regarding their reluctance to lower interest rates. In this article, we’ll delve into the factors influencing gold …

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• 21 May 2024 2:56 pm

  Oil Prices Continue to Slide as U.S. Inflation Concerns Mount

  

  Oil prices extended their losses on Tuesday, with investors anticipating persistent U.S. inflation to maintain high interest rates, thereby dampening consumer and industrial demand. Brent crude futures declined by 64 cents, or 0.7%, to $83.07 a barrel by 0845 GMT. Concurrently, U.S. West Texas Intermediate (WTI) crude dropped by 64 …

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• 21 May 2024 10:48 am

  German Producer Prices Decline Sharply in April

  

  The federal statistics office reported on Tuesday that German producer prices fell more than anticipated in April, driven primarily by a significant drop in energy prices. Producer prices decreased by 3.3% year-on-year, exceeding analysts’ expectations of a 3.1% decline, according to a Reuters poll. Energy Prices Lead the Decline Energy …

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• 21 May 2024 9:34 am

  Asian Stocks Dip as Chinese Stimulus Rally Fades and Interest Rate Worries Persist

  

  Most Asian stocks edged lower on Tuesday as the stimulus-driven rally in Chinese markets lost momentum. Additionally, concerns about sustained high interest rates continued to weigh on investor sentiment. Hong Kong’s Hang Seng Suffers Hong Kong’s Hang Seng index was the day’s worst performer, hit hard by a significant drop …

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• 21 May 2024 2:37 am

  Title: Will Inflation ease in the Eurozone this year?

  

  The Eurozone will shortly release its inflation data. This information holds significant importance as it directly influences price movements in financial markets. Additionally, it plays a crucial role in shaping the trajectory of the Euro (the unified European currency) and impacts price actions in European stocks during the upcoming session.According …

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• 21 May 2024 1:31 am

  What’s Behind Bitcoin’s Recent Rally?

  

  Bitcoin price has rallied to the $70,000 mark, indicating a potential bull market. Analysts believe that the majority of on-chain indicators point to a nascent bull market, despite some showing topping patterns. The recent support bounce near $60,000 has sparked increased interest, with Farside Investors reporting approximately $950 million in …

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• 21 May 2024 12:59 am

  Canadian Dollar fluctuates ahead of BoC’s CPI

  

  The Canadian dollar is mostly higher but flat against its US counterpart again. Canada brings BoC CPI inflation to the table on Tuesday. The Canadian dollar was broadly higher on Monday before a moderating pullback halfway through the North American trading session. Momentum remains limited with Canadian markets shuttered for …

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• 20 May 2024 11:44 pm

  Market Drivers; US Session, May 20

  

  On Monday, the spotlight was on metals, particularly Gold and Copper. Both traded at record highs early in the day. However, they later retreated during a quiet European morning due to most local markets being closed for Whit Monday celebrations.During the American session, the macroeconomic calendar featured various Federal Reserve …

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• 20 May 2024 10:34 pm

  Nasdaq touches new record, Dow attempts to surpass 40,000

  

  US stocks have seen a surge as the Nasdaq Composite (NXIC) reached new intraday highs and the Dow Jones Industrial Average (DJI) fell below 40,000 after closing above the landmark level for the first time on Friday. The S&P 500 (GSPC) rose 0.3%, while the Dow wavered around the flatline …

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• 20 May 2024 9:07 pm

  Rate differential between Eurozone, Japan boosts EUR/JPY

  

  EUR/JPY continues to rise, up 0.23% at the time of writing, due to a wide interest-rate differential between the Eurozone and Japan, which favours the Euro over the Japanese Yen. The absence of direct intervention by Japanese authorities to strengthen the Yen in early May has led to the pair …

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• 20 May 2024 8:15 pm

  EUR/USD slides amid uncertainty over ECB rate cut

  

  Due to several tailwinds, the EUR/USD pair had earlier stayed stable near 1.0900 throughout Monday’s New York session. However, as of this writing, it had dropped to 1.0859. Because of the increased risk appetite of investors, the major currency pair is still in bullish zone. Although policymakers remain split on …

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