Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 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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• 12 October 2024 12:06 am

  USD/JPY Consolidation Continues

  

  The USD/JPY pair is currently trading within a narrow range of 148.00 to 149.50, indicating a period of consolidation. While there is a slight upward bias, the pair has not yet broken out of this range. From a technical perspective, the momentum is currently bullish, but the Relative Strength Index …

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• 11 October 2024 11:21 pm

  Explainer: How Bank Earnings Boost Market Sentiment

  

  The S&P 500 and the Dow Jones Industrial Average reached new all-time highs on Friday, driven by a confluence of factors, including strong financial sector earnings, expectations of a Federal Reserve interest rate cut, and a generally positive economic outlook. Strong Bank Earnings: JPMorgan Chase and Wells Fargo: These two …

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• 11 October 2024 10:34 pm

  DXY remains unchanged following consumer sentiment data

  

  Dollar Remains Resilient Amidst Mixed Economic SignalsThe US Dollar continued to exhibit remarkable strength on Friday, even as mixed economic data emerged. While the Producer Price Index (PPI) for September came in slightly hotter than anticipated, suggesting persistent inflationary pressures, the preliminary reading of the University of Michigan Consumer Sentiment …

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• 11 October 2024 8:47 pm

  Middle East Conflict, OPEC+linked Hopes Prevent Sharp Oil Correction

  

  Notwithstanding concerns surrounding a wider Middle East war, which could disrupt oil flows from the region, China stimulus disappointment and OPEC+ producer plans to bring barrels back in the coming months have put the crude oil market at risk of a sharp correction. The pending surplus in early-2025, stemming from …

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• 11 October 2024 7:17 pm

  XAU/USD rallies after weak US economic indicators

  

  Gold (XAU/USD) extends its rally, trading in the $2,650s on Friday, after the release the the preliminary Michigan Consumer Sentiment Index showed a slide in sentiment in October. The Michigan Consumer Sentiment Index fell to 68.9 in October from 70.1 in the previous month and was below estimates of 70.8, …

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• 11 October 2024 3:16 pm

  U.S. Stock Futures Slip as Investors Await Bank Earnings and Inflation Data

  

  U.S. stock index futures edged lower on Friday as investors braced for the release of key bank earnings reports and another inflation reading, with potential implications for the Federal Reserve’s monetary policy. As of 05:40 ET (09:40 GMT), Dow Jones Futures dropped 95 points (0.2%), S&P 500 Futures fell 17 …

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