Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 1 May 2024 10:41 pm

  Powell still seeks assurance that further progress on inflation is achieved

  

  In the post-FOMC meeting news conference, Federal Reserve Chairman Jerome Powell explained the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions.Key Quotes“The economy has made considerable progress toward dual goals.”“Inflation eased substantially over the past year but it’s still …

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• 1 May 2024 10:03 pm

  Federal Reserve Keeps US Interest Rates Unchanged

  

  The Federal Open Market Committee decided to keep interest rates unchanged at its meeting that concluded today, Wednesday, and investors and observers are awaiting the press conference held by Federal Reserve Chairman Jerome Powell in an attempt to obtain guidance on the future interest rate path and the central bank’s …

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• 1 May 2024 9:51 pm

  Gold stabilized below $2,300 ahead of Fed decision

  

  Earlier on Wednesday, the XAU/USD Index was trading with gains of 0.84% at $2,304 amid falling US Treasury yields and a weak US Dollar. At the time of writing, it trading at $2299.20 per ounce.Manufacturing activity expanded in April, according to S&P Global. However, the Institute for Supply Management (ISM) …

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• 1 May 2024 8:18 pm

  GBP/USD reflects uncertainty ahead of FOMC decision

  

  The Pound Sterling has dropped below 1.2500 against the US dollar, trading at 1.2480, down 0.09% at the time of writing, and pressured by the strength of the US dollar ahead of the announcement of the latest Fed policy decision. The Pound Sterling’s valuation is largely influenced by the Bank …

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• 1 May 2024 7:34 pm

  US stocks slide following US labour data

  

  US stocks are suffering from pressures that push most indicators on Wall Street downward, following a new batch of US employment data that shed light on the continued growth of jobs in the United States, which is moving in the opposite direction to the conditions that the Federal Reserve prefers …

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• 1 May 2024 3:23 pm

  Gold Holds Steady Close to 4-Week Low

  

  Gold prices steadied on Wednesday, hovering near a four-week low as investors awaited a decision from the US Federal Reserve that could offer insights into the timing of interest rate cuts. Spot gold settled at $2,285.69 per ounce by 0829 GMT, after hitting its lowest level since April 5 earlier …

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• 1 May 2024 1:53 pm

  USD Approaches Yearly Highs Following Strong Economic Data, While JPY Declines

  

  On Wednesday, the dollar edged closer to its highest level since November in anticipation of the Federal Reserve’s interest rate decision later in the day. This move followed Tuesday’s data indicating persistent inflationary pressures in the American economy. Meanwhile, the yen dropped to its lowest level since concerns emerged about …

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• 1 May 2024 12:35 pm

  Gold Prices Decline to Lowest Point in 4 Weeks

  

  Gold prices dipped on Wednesday to their lowest level in nearly four weeks as investors awaited the Federal Reserve’s decision, which could shed light on the timeline for interest rate cuts. In spot transactions, gold edged down 0.1 percent to $2,284.44 per ounce by 0436 GMT, marking its lowest level …

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• 1 May 2024 11:40 am

  Nikkei index closed lower as investors awaited the Fed’s decision

  

  Japan’s Nikkei index experienced a downturn on Wednesday as traders exercised caution ahead of the Federal Reserve’s monetary policy decision. Despite some recovery from early losses, the Nikkei concluded the day with a 0.3 percent decline, settling at 38,274.05 points. The broader Topix index also saw a 0.5 percent decrease, …

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• 1 May 2024 5:38 am

  AstraZeneca’s Fresh Drug Updates Counteract Vaccine Impact

  

  AstraZeneca is beating the odds this week. The COVID-19 vaccination is still controversial, but it doesn’t stop the company’s stock price rising. With the 1.3% increase today, the share price has recently surged over 8% within only five days, building on the enthusiasm from the strong Q1 results announced last …

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• 1 May 2024 5:09 am

  Market Drivers; US Session, April 30

  

  In the face of ongoing caution, the US dollar appreciated sharply ahead of Wednesday’s FOMC meeting. Weekly mortgage applications are due in the first turn on May 1. This is followed by the ISM Manufacturing PMI, the final S&P Global Manufacturing PMI, the ADP Employment Change, and construction spending. Ultimately, …

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• 1 May 2024 4:02 am

  Fed poised to keep rates unchanged despite expected rhetoric change

  

  Markets expect the Fed rate to remain unchanged at the end of the Federal Open Market Committee meeting today, Wednesday, May 1, as inflation data for early 2024 has raised concerns that the transition to a 2.00% annual inflation rate may take longer than previously expected.Markets are awaiting the Fed’s …

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• 1 May 2024 2:15 am

  Amazon Surges following Strong Q1 earnings amid challenges

  

  Beyond forecasts, Amazon’s performance during Q1 was a remarkable success, with continued dominance in both cloud computing and e-commerce. The path ahead is not free from challenges, though. To sustain development trajectory, Amazon needs to strategically manage issues including consumer spending patterns, address intensifying competition, and economic concerns. The massively …

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