Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 24 June 2024 5:11 am

  Financial Markets’ Weekly Recap: Markets will focus on inflation data next week

  

  Throughout the week ending June 21, the market’s attention fixated on the Federal Reserve’s future interest rate decisions. Investor focus centered on everything influencing interest rate expectations, including economic data releases, developments within the US economy, and statements from the Federal Reserve itself.Last week saw the release of several key …

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• 24 June 2024 12:22 am

  Does Sino-EU trade dispute threaten Eurozone?

  

  The dispute between the European Union and China over electric vehicles remains unresolved. Both sides face significant risks of escalation into a full-blown trade war. While China has publicly stated its opposition to such a war, analysts believe Europe wouldn’t fare well in one. Efforts are underway through diplomatic channels …

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• 22 June 2024 12:09 am

  Wall Street’s rally fatigued for the first time in a week

  

  US stocks remained near the flatline on Friday as a tech-led rally showed signs of fatigue for the first time in over a week. The benchmark S&P 500 shed nearly 0.2%, while the tech-heavy Nasdaq Composite lost 0.2%. The Dow Jones Industrial Average remained virtually unchanged. Nvidia, which briefly became …

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• 21 June 2024 7:12 pm

  Gold prices decline following higher than expected US data

  

  Gold has reversed earlier gains following the release of higher-than-expected US PMI data, which showed strong activity levels in US Manufacturing and Services in June. This indicates that inflation and interest rates will remain higher for longer, causing gold to drop off a cliff to trade in the $2,330s on …

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• 21 June 2024 3:56 pm

  Oil Prices Stabilize, Poised for Weekly Gains Amidst Rising Demand and Geopolitical Tensions

  

  Crude oil futures held steady on Friday, with Brent crude futures for August settlement experiencing a slight dip and U.S. West Texas Intermediate (WTI) crude futures for August delivery also edging lower. However, both benchmarks were set to achieve a second consecutive week of over 3% gains, reaching their highest …

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• 21 June 2024 1:58 pm

  Dollar Soars to New Highs as Fed Remains Hawkish, Sterling Retreats Further

  

  The U.S. dollar continued its upward trajectory on Friday, reaching new highs as the Federal Reserve’s hawkish stance contrasted with the more dovish policies of its European counterparts. Sterling, meanwhile, continued its decline amid expectations of a Bank of England rate cut in August. The Dollar Index, measuring the greenback …

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• 21 June 2024 12:44 pm

  European Stocks Dip on Tech Selloff and Carlsberg’s Failed Takeover Bid

  

  European shares opened lower on Friday, led by a decline in technology stocks and a sharp drop in Carlsberg Group shares following the rejection of its takeover bid for British soft drinks maker Britvic. The pan-European STOXX 600 index fell 0.2% in early trading, with the technology sector experiencing a …

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• 21 June 2024 4:11 am

  Market Drivers; US Session, June 20

  

  The dollar recovered strong upside traction and maintained the price action in the risk complex depressed amidst interest rate cuts speculation and soft US data releases. In addition, the BoE and the Norges Bank kept their policy rates unchanged vs. a surprising cut by the SNB.The DXY rose to four-day …

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• 21 June 2024 3:18 am

  Why are money market funds the preferred choice for some investors?

  

  After 25 basis-point rate cut decisions by the ECB and BoC, the Fed left rate unchanged (within 5.25%: 5.5% range) with one possible cut before yearend. This decision bodes well for holders of assets in money market funds that provide returns exceeding dividend stocks and REITs, while their performance is …

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• 21 June 2024 12:00 am

  EUR/USD Retreats Ahead of Key PMI Data in US, Eurozone

  

  EUR/USD has slumped to 1.07. The week’s gains were eroded by a miss in US economic figures, which bolstered the dollar. Markets prepare for Friday’s Purchasing Managers Index (PMI) figures for both the EU and the US.Germany’s Producer Price Index (PPI) fell to 0.0% on a month-over-month basis in May, …

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• 20 June 2024 11:40 pm

  S&P 500 retreats after briefly topping 5,500 for the first time ever

  

  The S&P 500 and Nasdaq Composite experienced a drop in volume on Thursday, with the broad market index falling 0.3% after briefly reaching the 5,500 level. Nvidia that temporarily unseated Microsoft as the most valuable public company, declined 3.4% after rising earlier in the session. Shares have climbed more than …

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• 20 June 2024 9:37 pm

  US Dollar climbs on rising treasury yields despite weak data

  

  US Dollar gets a boost from an increase in US Treasury yields on Thursday. Markets still show signs of caution as Fed officials express a conservative stance on embracing easing cycles.US Treasury yields saw a considerable rise, with gains exceeding 1%. The 2-year, 5-year and 10-year rates stood at 4.74%, …

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• 20 June 2024 7:57 pm

  Whales Drag Bitcoin 2.8% Lower After Nearing $66,400

  

  Bitcoin bulls’ hopes have been dashed once again as liquidity grabs erase the latest BTC price recovery. Bitcoin/USD was hitting $66,455 before the Wall Street open, but a slow grind beyond $66,000 evaporated before an abrupt about turn sent the pair a full $2,000 lower. Observers put the blame firmly …

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