Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 15 October 2024 3:05 am

  Market Drivers; US Session

  

  Dollar Index (DXY) Soars, Dragging Down Major Pairs The US Dollar Index (DXY) continued its upward trajectory, breaching the 103.00 mark, driven by risk-off sentiment in the global market. Key economic indicators and speeches from Federal Reserve officials are scheduled for the day. The Euro (EUR/USD) weakened further, falling below …

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• 15 October 2024 12:33 am

  Dow Jones hits fresh all-time high on earnings

  

  The Dow Jones Industrial Average (DJIA) surged to a new all-time high on Monday, surpassing 43,000 and extending its winning streak to five consecutive weeks. Investors are eagerly anticipating the upcoming earnings season and a busy week of economic data, including key US Retail Sales figures.JPMorgan Chase and Wells Fargo …

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• 14 October 2024 11:24 pm

  Gold prices decline under USD’s pressure

  

  Gold has been declining since the opening of daily trading on Monday, pressured by the rise of the US dollar, which benefited from the decline in expectations of a 50-basis-point Federal Reserve interest rate cut, which led to a decline in fears that the US currency is close to exiting …

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• 14 October 2024 10:01 pm

  Bitcoin Soars Amid China’s Stimulus Uncertainty, US Presidential Speculations

  

  Bitcoin’s price surged to a two-week high following China’s announcement of unclear fiscal stimulus measures. The uncertainty surrounding the scale of China’s economic efforts has sparked speculation that investors may shift their capital from Chinese equities to cryptocurrencies, such as Bitcoin.Adding to the bullish sentiment, rising odds for a pro-crypto …

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• 14 October 2024 8:55 pm

  Stronger US dollar drags EUR/USD lower

  

  The Euro continued its downward spiral, hitting a new ten-week low on Monday. The currency depreciated by 0.25% against the US Dollar, breaching the 200-day Exponential Moving Average (EMA). This decline reflects the overall strengthening of the US Dollar and the weakening Euro.Investors are eagerly awaiting the release of the …

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• 14 October 2024 7:47 pm

  Research Forecasts Oil Prices to Hit $120 Amid Rising Geopolitical Tensions

  

  Citi Research has significantly increased its oil price forecast, predicting Brent crude to reach $120 per barrel by late 2024 and early 2025, primarily driven by escalating tensions in the Middle East.While this bullish outlook has garnered attention, Citi’s baseline forecast remains more conservative, projecting Brent crude prices at $74 …

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• 14 October 2024 6:42 pm

  Explainer: Why ECB’s rate cut could be risky

  

  The European Central Bank is poised to make another interest rate cut this Thursday, just a few weeks after the last one. However, there are some compelling reasons why this move might be too risky.First, core inflation has been declining in part due to indirect effects of falling energy prices. …

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• 14 October 2024 12:55 pm

  Dollar Holds Near Recent Highs Amid Tepid Currency Moves and Disappointing Chinese Stimulus

  

  The U.S. dollar hovered close to recent highs on Monday as investors reacted to underwhelming weekend stimulus announcements from China, while the euro continued its decline ahead of a key European Central Bank (ECB) meeting this week. The euro fell 0.1% to $1.092850, marking its 11th drop in 12 sessions …

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• 14 October 2024 11:33 am

  European Stocks Start the Week Cautiously Amid Chinese Stimulus Talk and ECB Meeting

  

  European stock markets opened the week on a cautious note Monday, as investors processed discussions of potential Chinese fiscal stimulus while awaiting the European Central Bank’s upcoming rate-setting meeting. As of 03:10 ET (07:10 GMT), Germany’s DAX index edged 0.3% higher, while France’s CAC 40 and the U.K.’s FTSE 100 …

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• 14 October 2024 10:48 am

  Bitcoin Rises as Mt Gox Postpones Creditor Repayment Deadline

  

  Bitcoin’s price climbed on Monday, continuing a weekend rebound after the defunct crypto exchange Mt Gox delayed its asset repayment to creditors by a year, alleviating concerns about a near-term sell-off. Despite the gains, broader crypto markets remained rangebound, with limited positive catalysts. Last week, prices were shaken by concerns …

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• 14 October 2024 9:53 am

  Gold prices muted; copper weakens

  

  Gold prices steadied in Asian trade on Monday as traders awaited more cues on U.S. interest rates from upcoming Federal Reserve speakers this week, while expectations of a November rate cut remained in focus. In the industrial metals market, copper prices dipped due to underwhelming signals on fiscal stimulus from …

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• 14 October 2024 5:29 am

  Weekly Wrap: ECB, Earnings Reports in Focus

  

  Global financial markets closed the week ending on Friday, October 11, with risk assets advancing over safe haven assets after US inflation data that highlighted a decline in price growth that would weigh heavily on interest rate cuts in the coming period. Markets are also awaiting developments in monetary policy …

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• 14 October 2024 3:37 am

  What markets can expect after a volatile week

  

  The second week of October trading began with optimism in North American equity markets despite increased Middle East tensions, ongoing war in Ukraine, a stronger than expected American economy, and weaker than expected numbers from China. China: The National Development & Reform Commission (NDRC), China’s state planner, stated that the …

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