Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 3 July 2024 12:47 am

  Oil stabilizes after briefly touching new highs amid steep API drawdown

  

  Crude Oil prices briefly reached new highs on Tuesday, with West Texas Intermediate crude testing above $83.50 per barrel before easing back to $82.50. The American Petroleum Institute (API) reported a steeper-than-expected drawdown in US Crude Oil supplies, with API barrel counts showing a weekly decline of -9.163 million, far …

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• 2 July 2024 11:18 pm

  Will BTC price rebound from current levels?

  

  Bitcoin price is currently trading down -1.24% at $62,047, with a drop of over 2.25% over the last 24 hours and 16% below its all-time high of $73,835. The price has fallen 8.75% over the last 30 days and 5.5% over the last three months, leaving market analysts wondering if …

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• 2 July 2024 10:36 pm

  Gold declines after Powell’s remarks amid retreating T-yields

  

  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 …

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• 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. …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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. …

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• 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 …

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• 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 …

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• 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 …

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