Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 4 July 2024 9:24 am

  Asian Markets Rally on Fed Rate Cut Expectations, Japan Surges to Record Highs

  

  Asian stocks advanced on Thursday, fueled by Wall Street’s gains and mounting expectations that the Federal Reserve will reduce interest rates by September due to recent weak economic data. Japanese stocks led the charge, nearing record highs and recouping losses from the second quarter. Wall Street’s S&P 500 and NASDAQ …

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• 4 July 2024 7:05 am

  Market Driver; US Session, July 3

  

  The US dollar fell to multiday lows in the wake of another data-driven sell-off, which coincided with a general decline in US rates and the July 4 Independence Day holiday. The UK general elections are also anticipated to be actively watched by markets in the lead-up to the French second …

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• 4 July 2024 3:16 am

  How Have Markets Reacted to FOMC Minutes?

  

  The minutes of the Fed’s June meeting were made public, and they contained a plethora of signals that the markets interpreted differently with regard to the factors influencing the federal rate’s future trajectory. “Most monetary policymakers in the meeting of the Central Bank’s Board of Governors on June 11 and …

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• 4 July 2024 1:08 am

  US Treasury yields fall after FOMC minutes, weak data

  

  Weak US economic statistics is the reason behind an eight basis point decline in the US 10-year Treasury yield. FOMC minutes mention the downturn in the economy and leave room for rate decreases should inflation get close to the 2% target. A decline in ADP Employment Change and a notable …

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• 3 July 2024 11:45 pm

  FOMC Minutes: US Consumer Prices Favour Declining Inflation

  

  The minutes of the latest FOMC meeting issued on Wednesday indicated that members of the committee are convinced that the US consumer price index readings (CPI) last May provided evidence that there is progress in terms of lowering inflation while meeting the central bank’s goal.A number of policymakers also suggested …

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• 3 July 2024 11:25 pm

  Gold Prices Soar Following Soft US Data

  

  Gold prices surged over 1% on Wednesday due to weak US economic data and rising Fed rate cut expectations. The latest FOMC meeting minutes showed that “several participants” were ready to lift rates if inflation remained elevated. The Institute for Supply Management (ISM) shows contracting US services activity, while labor …

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• 3 July 2024 9:08 pm

  Could Earnings Season Delay Overdue Pullback for S&P 500?

  

  The stock market’s impressive July debut is carrying over the energy from 2024’s promising first half. Although strong earnings are anticipated for the upcoming quarter, several analysts believe notable growth predictions for the remainder of the year are unrealistic. This could signal a postponement of the probable decline in the …

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• 3 July 2024 8:22 pm

  FOMC Minutes Awaited For Rate Policy Clues Amid Inflation-linked Concerns

  

  The US Federal Reserve will release its June 11-12 policy meeting minutes on Wednesday at 18:00 GMT. Investors will scrutinize the Fed’s hawkish hold and inflation outlook to gauge the timing of the expected interest rate cut this year. The Fed maintained its monetary policy settings for the seventh consecutive …

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• 3 July 2024 11:54 am

  European Stocks Rise on Fed Optimism and Political Developments

  

  European stocks enjoyed a boost on Wednesday, buoyed by Federal Reserve Chair Jerome Powell’s encouraging remarks and anticipation surrounding key political events in France and the UK. The pan-European STOXX 600 index rose 0.3%, marking its second gain in seven sessions. Investor sentiment was lifted by Powell’s comments regarding “significant …

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• 3 July 2024 10:40 am

  Asian Markets Mixed as Nikkei Surges, China Stumbles on Services PMI

  

  Asian stocks presented a mixed picture on Wednesday, with Japan’s Nikkei 225 index reaching new highs while Chinese markets faltered due to a disappointing reading on service sector activity. Japan’s Nikkei Takes the Lead Japan’s Nikkei 225 index surged by 0.9%, breaking the 40,000 mark for the first time in …

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• 3 July 2024 3:57 am

  Market Drivers; US Session, July 2

  

  With another session of quiet trading activity across the FX sector, the US dollar moved marginally defensively. At their discussion panel at the ECB Forum, Fed Chair Jerome Powell and ECB President Christine Lagarde left no space for surprises in the interim. Investors are bracing themselves for a plethora of …

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• 3 July 2024 2:26 am

  What do markets expect post-Powell, Lagarde’s recent statements?

  

  Powell Cites “Actual Advancement” While Central Bankers Evaluate War Against Inflation. Christine Lagarde, the head of the European Central Bank, and Jerome H. Powell, the chair of the Federal Reserve, both sounded upbeat about recent inflation figures but emphasized the need for greater confidence before cutting interest rates. Over the …

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• 3 July 2024 12:47 am

  Oil stabilizes after briefly touching new highs amid steep API drawdown

  

  Crude Oil prices briefly reached new highs on Tuesday, with West Texas Intermediate crude testing above $83.50 per barrel before easing back to $82.50. The American Petroleum Institute (API) reported a steeper-than-expected drawdown in US Crude Oil supplies, with API barrel counts showing a weekly decline of -9.163 million, far …

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