Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 22 May 2024 2:34 pm

  British Inflation Data Eases Pressure on Rate Cut Expectations

  

  Inflation in Britain saw a less-than-expected decline in April, with a key core measure showing resilience, prompting investors to reconsider their bets on a rate cut next month. This development could potentially bolster embattled Prime Minister Rishi Sunak ahead of anticipated elections later this year. Consumer prices rose by an …

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• 22 May 2024 1:05 pm

  U.S. Dollar Steadies Ahead of Fed Minutes; Sterling Gains on Mild Inflation Data

  

  The U.S. dollar traded steadily on Wednesday as markets awaited the release of minutes from the last Federal Reserve meeting, while sterling advanced after April’s inflation figures came in lower than anticipated. At 04:55 ET (08:55 GMT), the Dollar Index, which measures the greenback against a basket of six major …

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• 22 May 2024 11:30 am

  Gold Prices Slip Amid Fed Rate Concerns and Stronger Dollar

  

  Gold prices edged lower in Asian trade on Wednesday, continuing to retreat from record highs as concerns over elevated U.S. interest rates grew ahead of crucial signals from the Federal Reserve. Industrial Metals Also Under Pressure The downward trend extended to industrial metals, with copper prices pulling back further from …

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• 22 May 2024 4:23 am

  Market Drivers; US Session, May 21

  

  Federal Reserve Governor Christopher Waller has expressed concerns about the need for further rate hikes due to the hotter-than-expected inflation data. He believes that more months of good inflation data are needed before he can support an easing in policy. Federal Reserve Bank of Boston President Susan Collins and Federal …

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• 22 May 2024 4:00 am

  What are BoE’s expectations for UK inflation?

  

  Since fighting inflation is one of the two main components of the Bank of England’s mandate, and as all major central banks do assess how well they have performed the fundamental mandate assigned to them, markets are waiting for new evidence that could help identify the characteristics of the future …

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• 22 May 2024 12:45 am

  S&P 500 Hits Fresh Highs Ahead of FOMC Minutes, Nvidia Earnings

  

  The stock market is closely and carefully watched by analysts as well as investors as Nvidia gets ready to announce its quarterly financial results. Tuesday’s closing high of 5,321.41 was achieved by the S&P 500 index thanks to robust corporate earnings in the first quarter of 2024. Nonetheless, a few …

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• 21 May 2024 10:47 pm

  Canadian dollar struggles amid inflation data, rate cut bets

  

  The Canadian dollar has been under scrutiny recently as investors closely monitor economic data and central bank statements. Here’s a breakdown of the recent developments and their impact on the CAD as the USD/CAD pair is 0.20% up trading at 1.3651 at the time of writing.Inflation Data, Rate Cut Bets …

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• 21 May 2024 8:52 pm

  US dollar in red ahead of FOMC minutes

  

  The US Dollar Index (DXY) is trading sideways at 104.6, with mild losses due to the cautious Fed’s hesitant approach to premature easing. The market’s focus is shifting towards the release of the Federal Open Markets Committee (FOMC) Minutes on Wednesday and mid-tier data on Thursday and Friday, including S&P …

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• 21 May 2024 7:10 pm

  Gold price slides on reluctance about rate cut

  

  Gold prices experienced significant volatility on May 21, 2024, as they corrected lower after touching an all-time high of $2,450 on the previous trading day. The pullback was driven by central banks’ communication regarding their reluctance to lower interest rates. In this article, we’ll delve into the factors influencing gold …

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• 21 May 2024 2:56 pm

  Oil Prices Continue to Slide as U.S. Inflation Concerns Mount

  

  Oil prices extended their losses on Tuesday, with investors anticipating persistent U.S. inflation to maintain high interest rates, thereby dampening consumer and industrial demand. Brent crude futures declined by 64 cents, or 0.7%, to $83.07 a barrel by 0845 GMT. Concurrently, U.S. West Texas Intermediate (WTI) crude dropped by 64 …

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• 21 May 2024 10:48 am

  German Producer Prices Decline Sharply in April

  

  The federal statistics office reported on Tuesday that German producer prices fell more than anticipated in April, driven primarily by a significant drop in energy prices. Producer prices decreased by 3.3% year-on-year, exceeding analysts’ expectations of a 3.1% decline, according to a Reuters poll. Energy Prices Lead the Decline Energy …

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• 21 May 2024 9:34 am

  Asian Stocks Dip as Chinese Stimulus Rally Fades and Interest Rate Worries Persist

  

  Most Asian stocks edged lower on Tuesday as the stimulus-driven rally in Chinese markets lost momentum. Additionally, concerns about sustained high interest rates continued to weigh on investor sentiment. Hong Kong’s Hang Seng Suffers Hong Kong’s Hang Seng index was the day’s worst performer, hit hard by a significant drop …

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• 21 May 2024 2:37 am

  Title: Will Inflation ease in the Eurozone this year?

  

  The Eurozone will shortly release its inflation data. This information holds significant importance as it directly influences price movements in financial markets. Additionally, it plays a crucial role in shaping the trajectory of the Euro (the unified European currency) and impacts price actions in European stocks during the upcoming session.According …

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