Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 27 June 2024 3:31 pm

  Toyota Motor Corp. Reports Fourth Consecutive Decline in Global Sales Amidst Challenges

  

  In a press release issued today, Toyota Motor Corp., the world’s leading automaker by sales volume, announced a 2.0% year-on-year decline in global sales for the month of May. This marks the fourth consecutive month of declining sales for the company. Key Figures: Global Sales: Decreased by 2.0% to 888,491 …

  Read More »
• 27 June 2024 2:40 pm

  Oil Prices Rise Amid Middle East Tensions, Despite Unexpected US Inventory Build

  

  Oil prices rebounded on Thursday, defying concerns over a surprise increase in U.S. crude stockpiles, as escalating geopolitical tensions in the Middle East raised concerns about potential supply disruptions. Brent crude futures, the international benchmark, climbed 0.9% to $86.01 a barrel, while U.S. West Texas Intermediate crude futures also rose …

  Read More »
• 27 June 2024 1:24 pm

  Dollar Dips, Yen Weakened to Intervention Territory as Focus Shifts to Economic Data and Political Events

  

  The U.S. dollar retreated slightly in early European trading Thursday, relinquishing some of the previous session’s gains, while the Japanese yen continued its downward trajectory, reaching levels that could prompt intervention from authorities. Key Takeaways: Dollar Eases: The Dollar Index, which measures the greenback against a basket of six major …

  Read More »
• 27 June 2024 11:58 am

  European Stocks Flat as Investors Await Key Economic Data and French Elections

  

  European markets opened cautiously on Thursday, with the pan-European STOXX 600 index holding steady. Investors are refraining from significant moves ahead of critical U.S. inflation (PCE) data due on Friday, which could influence the Federal Reserve’s interest rate decisions. Consumer price data from France, Spain, and Italy this week, as …

  Read More »
• 27 June 2024 10:47 am

  Bitcoin Slides Amid Mt. Gox Liquidation Fears and Looming Inflation Data

  

  Bitcoin’s price continued its downward spiral on Thursday, largely unmoved by reports that the U.S. Securities and Exchange Commission (SEC) might soon approve Ethereum-based exchange-traded funds (ETFs). Instead, fears of a massive sell-off stemming from the defunct exchange Mt. Gox, coupled with a strengthening dollar amid inflation concerns, weighed heavily …

  Read More »
• 27 June 2024 9:41 am

  Asian Markets Tumble as Micron’s Guidance Casts Shadow on Tech Sector

  

  A wave of selling swept across Asian markets on Thursday, driven by a disappointing outlook from chipmaking giant Micron and renewed concerns about China’s economic health. The ripple effects were felt in tech-heavy sectors and beyond, with investors seeking refuge amid growing uncertainty. Micron’s Guidance Sparks Tech Rout Micron Technology …

  Read More »
• 27 June 2024 3:48 am

  GBP/JPY touches fresh 16-year high for fourth day in a row

  

  The Yen’s decline continues, as the GBP/JPY pair rises to all-time highs. Japanese policymakers issue more pointed warnings in response to the collapsing JPY. Given the continued huge rate differential, market flows are unlikely to change. Wednesday saw the GBP/JPY pair achieve a record 16-year high, the fourth day in …

  Read More »
• 27 June 2024 2:50 am

  Bank Stress Test: US Banks well positioned for severe recession

  

  The biggest US banks have enough capital to survive an economic disaster, according to the Fed’s annual bank stress test, but their position is weaker than it was a year ago. The purpose of the tests, which gained additional significance following the failure of three US banks last year, was …

  Read More »
• 26 June 2024 9:34 pm

  Why is USD/JPY flashing Red warning lights?

  

  Japanese Yen nosedives after Kanda’s bleak response. Masato Kanda, the Japanese Ministry of Finance’s Vice Minister of Finance for International Affairs, stated at 13:15 GMT that the government is closely monitoring the foreign exchange markets and will take necessary action as necessary.Earlier during the US trading session, the Japanese Yen …

  Read More »
• 26 June 2024 9:01 pm

  Dollar aims high on the back of T-yields

  

  The US Dollar extended recovery to Wednesday, reaching 106.00, its highest level since early May. Rising US Treasury yields lent support to the US currency. Week’s highlight remains June’s PCE inflation data due on Friday.Wednesday’s session witnessed the US Dollar, as represented by the Dollar Index (DXY), climb to 106.00, …

  Read More »
• 26 June 2024 7:19 pm

  GBP/USD declines on stronger US dollar

  

  After battling at 1.2700, the GBP/USD pair drops as a result of the strong US dollar and poor US housing data. The technical picture is gloomy, with a “evening star” pattern and an RSI pointing to more decline. The 50-DMA at 1.2636, the 200-DMA at 1.2555, and the 1.2600 are …

  Read More »
• 26 June 2024 3:50 pm

  Wall Street Futures Rise, Driven by Tech Rebound and Upbeat Corporate Outlook

  

  U.S. stock index futures climbed on Wednesday, continuing a recovery in the tech sector, led by a surge in Nvidia shares and an optimistic outlook from delivery giant FedEx. Dow Jones Futures held steady, while S&P 500 Futures gained 0.2% and Nasdaq 100 Futures jumped 0.3%, indicating a positive start …

  Read More »
• 26 June 2024 2:25 pm

  Oil Prices Edge Higher on Supply Concerns and Strong Demand Outlook

  

  Oil prices continued their upward trajectory on Wednesday, approaching a two-month high, driven by expectations of dwindling inventories during the peak summer demand season and heightened geopolitical tensions in the Middle East. Market Dynamics Brent crude oil futures rose 0.7% to $85.64 a barrel, while U.S. West Texas Intermediate crude …

  Read More »