Noor Trends News, Technical Analysis, Educational Tools and Recommendations
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 …
Read More »Market Analysis
May, 2024
-
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 …
Read More » -
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 …
Read More » -
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 …
Read More » -
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 …
Read More » -
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 …
Read More » -
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 …
Read More » -
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 …
Read More » -
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 …
Read More » -
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 …
Read More » -
21 May 2024 1:31 am
What’s Behind Bitcoin’s Recent Rally?
Bitcoin price has rallied to the $70,000 mark, indicating a potential bull market. Analysts believe that the majority of on-chain indicators point to a nascent bull market, despite some showing topping patterns. The recent support bounce near $60,000 has sparked increased interest, with Farside Investors reporting approximately $950 million in …
Read More » -
21 May 2024 12:59 am
Canadian Dollar fluctuates ahead of BoC’s CPI
The Canadian dollar is mostly higher but flat against its US counterpart again. Canada brings BoC CPI inflation to the table on Tuesday. The Canadian dollar was broadly higher on Monday before a moderating pullback halfway through the North American trading session. Momentum remains limited with Canadian markets shuttered for …
Read More » -
20 May 2024 11:44 pm
Market Drivers; US Session, May 20
On Monday, the spotlight was on metals, particularly Gold and Copper. Both traded at record highs early in the day. However, they later retreated during a quiet European morning due to most local markets being closed for Whit Monday celebrations.During the American session, the macroeconomic calendar featured various Federal Reserve …
Read More »