Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold fell 0.28% following Fed Chair Jerome Powell’s remarks at the ECB forum in Portugal. Powell stated that he is cautiously optimistic on disinflation and emphasizes the need for more progress before rate cuts. US Treasury yields remain firm, while the US Dollar fluctuates in familiar range. The XAU/USD trades …
Read More »Market Analysis
July, 2024
-
2 July 2024 9:39 pm
USD experienced minor losses after Powell’s forecast
On Tuesday, the DXY Index showed a decrease in gains to hover near 105.70. The Greenback is influenced by rising JOLTS figures and Jerome Powell’s comments about the inflation outlook.The US Dollar experienced minor losses following Jerome Powell’s disinflation forecasts, with JOLTs figures from June coming in higher than expected. …
Read More » -
2 July 2024 7:27 pm
Lagarde: Eurozone ‘Very Advanced’ on Disinflationary Path
The Eurozone is “very advanced” on the disinflationary path but there remain “question marks” hanging over the outlook for economic growth, European Central Bank President Christine Lagarde said on Tuesday.“We’re very advanced on that disinflationary path,” Lagarde told the ECB’s annual Forum on Central Banking. “We are in that slow …
Read More » -
2 July 2024 6:54 pm
Sterling sharply surges following Powell’s remarks
The British Pound has seen a sharp recovery after retracing to 1.2620 against the US dollar in Tuesday’s New York session. This comes as the US Dollar surrenders its gains after Fed Chair Jerome Powell admitted progress in disinflation in his speech at the European Central Bank (ECB) Forum on …
Read More » -
2 July 2024 2:12 pm
Dollar’s Strength Pushes Yen to 38-Year Low, Investors Eye Fed Chair’s Speech
The U.S. dollar continued its upward trajectory on Tuesday, bolstered by rising U.S. Treasury yields, while putting pressure on low-yielding currencies like the Chinese yuan and the Japanese yen, which plunged to its weakest level against the dollar since 1986. Dollar Strength Driven by Rising U.S. Yields Benchmark 10-year Treasury …
Read More » -
2 July 2024 1:07 pm
European Stocks Retreat as Post-Election Rally Fades, Inflation Data Awaited
European stocks experienced a decline on Tuesday, reaching a two-week low as the initial relief rally following the first round of French parliamentary elections subsided. Investors now await crucial euro zone inflation data for June, which could provide insights into the future path of interest rates. Market Performance The pan-European …
Read More » -
2 July 2024 9:35 am
Asian Markets Tread Cautiously Amid Interest Rate Uncertainty and Chinese Economic Concerns
Asian stocks experienced a subdued trading session on Tuesday, as investors remained cautious ahead of a speech by Federal Reserve Chair Jerome Powell, which could offer insights into the future trajectory of U.S. interest rates. Powell’s Speech and Interest Rate Outlook Regional markets were influenced by a slightly positive overnight …
Read More » -
2 July 2024 4:33 am
Market Drivers; US Session, July 1: Markets Await Speeches by Powell, Lagarde
Before Fed Chair Powell and ECB President Christine Lagarde speak on Tuesday, the US dollar recovered from a negative start to the week amid growing prudence and a generalized desire for risk.CurrenciesAfter losing two straight sessions, the USD Index (DXY) turned its attention back to the crucial 106.00 level. J. …
Read More » -
2 July 2024 3:47 am
How can France Early elections influence Euro’s performance?
The far-right in France is on the rise, according to the results of Sunday’s early elections. Marine Le Pen, the National Rally Party’s initial opponent of French President Emmanuel Macron in the previous presidential election, is leading this movement. Without a doubt, the success of this political movement would give …
Read More » -
2 July 2024 12:53 am
Gold prices stabilizes ahead of eventful US week
The US dollar and Treasury yields continue to rise without affecting the value of gold. Mixed data on US manufacturing: For the third straight month, the S&P PMI rises while the ISM PMI falls. The US 10-year Treasury yield rises by about 9 basis points to 4.489%, supporting the dollar’s …
Read More » -
1 July 2024 10:56 pm
Tesla Stock Popped Ahead of Q2 Deliveries, Here is Why
Tesla stocks have been on the comeback trail recently, and that continued on the first trading day of July. Shares of the leading electric vehicle maker were higher by 5.5% on Monday morning. The stock is now up by about 18% over the past month.Today’s leap comes just one day …
Read More » -
1 July 2024 10:22 pm
Seasonal factors propel US bond yields rally
Since the start of daily trading on Monday, US bond rates have risen due to a number of very helpful variables, including seasonal and political factors as well as economic and political considerations that contributed to generating the momentum of the current rise in those yields.Ten-year US Treasury bond yields …
Read More » -
1 July 2024 9:28 pm
Euro surges post French elections’ first round results
Since the start of daily trading, the Euro has risen due to changes in French politics that have sparked conjecture about the potential that the European economy would escape the control of the country’s far-right faction. From the previous daily close of 1.0711, the EUR/USD pair increased to 1.0725. The …
Read More »