Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 17 October 2024 6:18 pm

  U.S. Jobless Claims Decline, But Storms and Strikes Cloud Labor Market Outlook

  

  The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting that the labor market remains resilient despite recent challenges. However, the broader employment picture remains unclear, with the ongoing effects of recent hurricanes and industrial strikes potentially distorting the data in the coming …

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• 17 October 2024 5:10 pm

  U.S. Retail Sales Exceed Expectations in September, Strengthening Growth Outlook

  

  Retail sales in the U.S. increased by 0.4% in September, surpassing expectations and signaling continued economic resilience in the third quarter. This follows a modest 0.1% gain in August, according to the Commerce Department. Economists had anticipated a 0.3% rise, with estimates ranging from no change to an 0.8% increase. …

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• 17 October 2024 5:01 pm

  ECB Cuts Rates for Second Straight Meeting to Combat Inflation and Economic Slowdown

  

  The European Central Bank (ECB) reduced interest rates by a quarter point at its second consecutive meeting on Thursday, aiming to address sluggish inflation and weak economic growth. This marks the first back-to-back rate cut in 13 years, signaling a shift in the ECB’s policy focus from controlling inflation to …

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• 17 October 2024 1:48 pm

  Euro Drops to Two-Month Low as ECB Rate Cut Approaches

  

  The euro fell to a more than two-month low on Thursday ahead of an anticipated European Central Bank rate cut, while the dollar surged to its highest level in 11 weeks due to expectations that Donald Trump, whose policies are viewed as favorable by the market, will win the upcoming …

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• 17 October 2024 12:56 pm

  European Stocks Edge Up as Investors Eye ECB Rate Cut and Mixed Earnings

  

  European stocks edged higher on Thursday, as investors anticipated a dovish tone from the European Central Bank (ECB) following its widely expected interest rate cut. The continent-wide STOXX 600 index inched up 0.1% at 0713 GMT, recovering slightly after a two-day decline. Key Gainers and Earnings Highlights Finnish bank Nordea …

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• 17 October 2024 12:06 pm

  Oil Prices Flat as Investors Watch Middle East Developments and U.S. Inventory Data

  

  Oil prices traded flat on Thursday as investors remained cautious about geopolitical tensions in the Middle East and awaited more information on China’s economic stimulus plans. Traders were also looking ahead to the release of U.S. oil inventory data for further market direction. Brent crude futures dipped by 4 cents …

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• 17 October 2024 11:44 am

  Gold Near Record Highs as Softer Yields, Central Bank Rate Cuts Support Prices

  

  Gold prices rose slightly in Asian trading on Thursday, staying close to record highs despite a strong U.S. dollar fueled by speculation of a second Trump presidency. The rise in gold was supported by lower Treasury yields and expectations of interest rate cuts from major central banks. Spot gold climbed …

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• 17 October 2024 2:51 am

  Market Drivers; US Session

  

  Gold prices rallied during the mid-North American session on Wednesday, bolstered by a decline in US Treasury yields and a disregard for recent US Dollar strength. Anticipations of interest rate cuts by major central banks, fueled by soft inflation data, weighed on bond yields and propelled the non-yielding metal. As …

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• 17 October 2024 1:15 am

  EUR/USD Retreats Ahead of ECB Rate Cut

  

  EUR/USD Plummets Ahead of ECB Rate CutThe Euro is under significant pressure, pushing EUR/USD to multi-week lows as investors anticipate a rate cut from the European Central Bank (ECB). The ECB is widely expected to reduce its interest rates by 25 basis points on Thursday, a move that could further …

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• 17 October 2024 12:34 am

  Pound Sterling Plunges on UK Inflation Surprise

  

  Pound Sterling suffered a significant decline following the release of UK inflation data for September. The unexpected slowdown in price growth has fueled speculation that the Bank of England (BoE) might reconsider its monetary policy stance and opt for a rate cut at its upcoming meeting.The GBP/USD pair plummeted to …

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• 16 October 2024 11:31 pm

  USD/CAD Gains as Fed Rate Cut Expectations Persist

  

  The US Dollar (USD) strengthened against the Canadian Dollar (CAD) on Thursday, with USD/CAD trading near 1.3755. The market is increasingly betting that the Federal Reserve (Fed) will implement a series of modest interest rate cuts in the coming months.The Fed’s dovish stance, coupled with geopolitical tensions and US election …

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• 16 October 2024 10:19 pm

  What is behind WTI’s Recent Price Decline

  

  The confluence of geopolitical, economic, and supply-demand factors has driven WTI prices to a two-week low. While the immediate catalyst was Israel’s pledge to avoid targeting Iran’s oil facilities, the broader context reveals a complex interplay of forces shaping the global crude oil market.Geopolitical TensionsIran’s Nuclear Program: The ongoing tensions …

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• 16 October 2024 9:39 pm

  The ECB’s Rate Cut and Global Economic Outlook

  

  The European Central Bank (ECB) is poised to deliver its third interest rate cut of the year at its meeting this Thursday, as policymakers signal that inflation risks are easing more rapidly than anticipated. Markets have already factored in a 25 basis point reduction and are even speculating about a …

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