Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 23 October 2024 1:30 am

  Market Drivers; US Session

  

  The US Dollar continued its upward trajectory, reaching new highs as investors weighed the potential impact of a “Trump trade,” further Fed easing, and upcoming US economic data. Key events for Wednesday, October 23, include the release of US mortgage applications, existing home sales, and the EIA’s crude oil inventory …

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• 23 October 2024 12:18 am

  Why Do Fed Officials Temper Expectations for Upcoming Rate Cuts?

  

  The Federal Reserve has signaled future interest rate cuts, but some members are urging caution as economic data continues to roll in. Investors are anticipating cuts at the next two Fed meetings, aligning with the central bank’s projections. However, comments from regional Fed presidents suggest the pace of cuts might …

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• 22 October 2024 11:08 pm

  Dow Jones Holds Ground After Early-Week Dip

  

  Dow Jones Industrial Average (DJIA) cautiously tested higher ground on Tuesday, following a slight pullback at the start of the week. Despite concerns about overbought conditions and rising interest rates, the index managed to maintain a positive trajectory.Key factors influencing the market include:Earnings Season: Strong earnings reports from companies like …

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• 22 October 2024 10:25 pm

  EUR/USD declines on high US yields, ECB officials’ comments

  

  The EUR/USD pair falls as climbing US Treasury yields and risk-off sentiment bolster the US Dollar. ECB members hint at potential rate cuts, with President Lagarde maintaining a cautious stance on inflation, targeting 2025 for stability. The US Dollar Index (DXY) rises to 104.06 as US 10-year Treasury yields remain …

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• 22 October 2024 9:58 pm

  XAU/USD Soars Amid Rising T-Yields

  

  Gold price surges on Tuesday as Treasury yields rise. Gold prices surged to new heights on Tuesday, driven by a combination of geopolitical tensions and rising U.S. Treasury yields. As investors seek safe-haven assets amid global uncertainty, XAU/USD has continued its upward trajectory, reaching a peak of $2,745.01.The market’s mood …

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• 22 October 2024 8:56 pm

  Bitcoin Market Analysis: A Sideways Trend with Upward Potential

  

  The Bitcoin market remains in a sideways trading range that began in February. Despite experiencing some volatility recently, the overall trend suggests a gradual upward movement.Key Technical Levels:Resistance: The $70,000 level is a crucial resistance point due to its psychological significance. Breaking above this level could signal a stronger uptrend, …

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• 22 October 2024 7:46 pm

  USD/JPY Price Forecast: Testing Key Technical Levels

  

  The USD/JPY pair is currently trading near the 151.00 level, influenced by rising US Treasury yields but facing resistance from the Ichimoku Cloud’s upper boundary. Bullish momentum persists, as indicated by the RSI hitting a new high, suggesting potential upside towards the 200-day moving average (DMA) at 151.36 and beyond.If …

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• 22 October 2024 3:43 pm

  UK Public Borrowing Exceeds Forecasts, Presenting Challenge for Finance Minister Rachel Reeves

  

  British public borrowing in the first six months of the tax year exceeded official forecasts, posing a challenge for Finance Minister Rachel Reeves ahead of her first budget next week. Borrowing totaled £79.6 billion ($103.5 billion) from April to September, nearly £7 billion higher than projections made by the Office …

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• 22 October 2024 2:08 pm

  Oil Prices Steady Near $74 Amid Middle East Ceasefire Efforts and Slowing Chinese Demand

  

  Oil prices hovered near $74 a barrel on Tuesday as geopolitical tensions in the Middle East and concerns over weakening demand growth in China, the world’s top oil importer, continued to influence the market. Brent crude futures for December delivery slipped 20 cents, or 0.27%, to $74.09 per barrel by …

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• 22 October 2024 1:53 pm

  European Stocks Slip Amid Geopolitical and Rate-Cut Uncertainties, SAP Boosts Tech Sector

  

  European stocks dipped on Tuesday as investors grappled with geopolitical tensions and uncertainties over global interest rate cuts. The pan-European STOXX 600 index edged down 0.3% by 0830 GMT, as lingering concerns about the European economy and Chinese demand weighed on market sentiment. The broader decline was softened by German …

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• 22 October 2024 12:55 pm

  Bitcoin Falls Amid U.S. Election Uncertainty and Slower Fed Rate Cut Expectations

  

  Bitcoin prices fell on Tuesday, retreating from recent three-month highs as broader market uncertainty ahead of the U.S. presidential election dampened risk appetite. Bitcoin dropped 2.4% to $67,412.5, pulling back from a recent peak of $69,000, failing to break through the key $70,000 level that many analysts viewed as a …

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• 22 October 2024 11:03 am

  Dollar Strength and Fed’s Approach to Rate Cuts

  

  The U.S. dollar remained strong on Tuesday, holding near a 2-1/2-month high due to expectations that the Federal Reserve will adopt a cautious approach to cutting interest rates. This strength, buoyed by rising U.S. Treasury yields, has put pressure on the yen, euro, and British pound. The dollar’s rally is …

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• 22 October 2024 10:03 am

  Gold Prices Steady Near Record Highs Amid Election Uncertainty and Middle East Tensions

  

  Gold prices gained in Asian trade on Tuesday, stabilizing just below their recent record highs as traders sought safe havens due to growing uncertainty surrounding the upcoming U.S. presidential election. The anticipation of a tight race between Donald Trump and Kamala Harris has pushed investors towards safer assets like gold, …

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