Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 30 August 2024 9:57 pm

  Dow Jones: A New Record High, but Caution Ahead

  

  The Dow Jones Industrial Average (DJIA) capped off a remarkable week with a new intraday high. This milestone, following a similar record-setting performance on Monday, underscores the ongoing bullish sentiment in the market. However, the recent retreat from the all-time high raises questions about the sustainability of this momentum.Inflation and …

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• 30 August 2024 9:02 pm

  EUR/USD Pressured Amid Softer Inflation Data

  

  The EUR/USD pair has been under pressure in recent weeks, primarily driven by softer inflation data in both the Eurozone and the United States. While the ECB is expected to cut interest rates in September, market expectations for an aggressive pivot by the Federal Reserve have been tempered by lingering …

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• 30 August 2024 8:16 pm

  Eurozone Inflation Still A Persistent Challenge

  

  Inflationary pressures in the Eurozone persist even after the headline CPI has recently slowed down. The total price index has decreased, but underlying factors—especially the inflation of services—remain persistently high. The European Central Bank’s (ECB) monetary policy actions are being influenced by the ongoing inflationary environment, which may have major …

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• 30 August 2024 7:32 pm

  Wall Street Cheers: Latest PCE Eases Rate Cut Concerns

  

  US stocks were poised for a strong finish to the week on Friday, buoyed by the latest reading on the Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred inflation gauge. The data indicated that prices rose in line with expectations in July, easing concerns about persistently high inflation and …

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• 30 August 2024 3:01 pm

  Eurozone Inflation Hits Three-Year Low, Fuelling ECB Rate Cut Expectations

  

  Eurozone inflation fell to its lowest level in three years in August, according to data released on Friday, raising expectations of another interest rate cut by the European Central Bank (ECB) next month. Headline Inflation: Consumer price growth slowed to 2.2% year-on-year in August, down from 2.6% in July, moving …

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• 30 August 2024 12:44 pm

  Oil Prices Edge Up Amid Supply Concerns; Demand Weakness Limits Gains

  

  Oil prices rose slightly on Friday as investors weighed concerns over supply disruptions in Libya and Iraq, though signs of weakened demand, particularly from China, capped the gains. Price Movements Brent Crude: October futures increased by 39 cents, or 0.5%, to $80.33 a barrel. The November contract, more actively traded, …

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• 30 August 2024 12:09 pm

  European Shares Hit Record High Amid Optimism, Caution Ahead of Eurozone Inflation Data

  

  European shares reached an all-time high on Friday, with the pan-European STOXX 600 index climbing 0.2% to 525.65 points by 0713 GMT. This gain surpassed the previous record of 525.59 points set in June, and the index is on track for a fourth consecutive week of gains. The benchmark is …

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• 30 August 2024 11:15 am

  Bitcoin Slides Amid Caution Over U.S. Inflation Data, Nursing August Losses

  

  Bitcoin prices fell slightly on Thursday as markets remained cautious ahead of a key U.S. inflation reading that could influence the outlook for interest rate cuts. The cryptocurrency is set to end August with significant losses, driven by a broader risk-off sentiment that has affected financial markets. Bitcoin Struggles in …

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• 30 August 2024 10:49 am

  Asian Stocks Recover as Tech Rebounds; Chinese Shares Bounce Back from Six-Month Lows

  

  Asian stocks rose on Friday, driven by a recovery in technology shares and month-end bargain buying, particularly in China, which helped to reverse some of the heavy losses seen earlier in August. Tech Recovery and Positive Wall Street Cues Boost Asian Markets The recovery in Asian markets followed a positive …

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• 30 August 2024 9:51 am

  Gold Prices Dip Slightly, Remain Near Record Highs as Markets Await U.S. Inflation Data

  

  Gold prices saw a slight decline in Asian trade on Friday, though they remained close to record highs as investors awaited crucial U.S. inflation data that could provide further insight into the Federal Reserve’s interest rate outlook. Gold Prices Hold Strong Despite Slight Dip Spot gold edged down by 0.3% …

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• 30 August 2024 2:20 am

  Market Drivers; US Session, August 26

  

  The US Dollar continued its upward trajectory, boosted by higher interest rates and stronger-than-expected economic indicators. This surge was particularly pronounced ahead of the release of crucial Personal Consumption Expenditure (PCE) inflation data on Friday.Economic Data:Initial jobless claims fell to 231,000 for the week ending August 25, compared to the …

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• 30 August 2024 1:45 am

  What Was Exactly Behind Bitcoin’s Recent Sudden Fluctuations?

  

  Bitcoin has exhibited substantial price volatility in recent times, trading within a narrow band between $60,000 and $65,000 per unit. This market instability has had a cascading effect on other, less valuable cryptocurrencies. For example, BNB has fluctuated between $460 and $635, with a discernible support level at $460 to …

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• 30 August 2024 12:06 am

  Gold Price Climbs Amid Fed Rate Cut Hopes

  

  Gold prices have been on a steady ascent, buoyed by the anticipation of a potential Federal Reserve rate cut. Despite strong US economic data, the market remains optimistic about a policy shift that could benefit gold. The Economic ContextThe recent upward trajectory of gold prices is a testament to the …

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