Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 10 May 2024 1:15 pm

  Dollar Steadies as Labour Market Cools, Pound Rises on UK Economic Growth

  

  On Friday, the dollar found its footing after experiencing overnight losses fueled by U.S. data signaling a cooling labour market. Meanwhile, the British pound edged higher following robust first-quarter economic performance in the UK. Dollar Performance Against the Japanese yen, the dollar regained some ground, trading at 155.68 yen, marking …

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• 10 May 2024 12:06 pm

  Gold Prices Rally as Dollar Weakens Amid Cooling Labor Market and Geopolitical Tensions

  

  In the realm of precious metals, gold emerged as the shining star in Asian trade on Friday, extending its overnight gains amidst a backdrop of significant market shifts. A notable weakening of the U.S. dollar and Treasury yields provided a robust tailwind for the yellow metal, sending its prices soaring. …

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• 10 May 2024 10:36 am

  Turkish Central Bank revises inflation forecasts upward, vows to maintain containment efforts

  

  On Thursday, the Turkish Central Bank revised its inflation forecast for the end of the year, projecting it to reach 38 percent. Governor Fatih Kara Khan emphasized the bank’s commitment to taking decisive measures to prevent further deterioration in inflation, reaffirming its stance on tightening monetary policy. Presenting the quarterly …

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• 10 May 2024 9:41 am

  Nikkei gives up early gains after chip industry-related stocks decline

  

  On Thursday, the Japanese Nikkei index struggled to maintain its early gains and ultimately closed lower, primarily due to a decline in shares of companies associated with the chip industry. Tokyo Electron shares, in particular, faced selling pressure following disappointing annual revenue estimates from British chip design company Arm Holdings, …

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• 10 May 2024 5:34 am

  Will Ethereum and Bitcoin quietly gain fresh momentum?

  

  The previous few weeks have seen a turbulent ride for cryptocurrencies, with unexpected lows and tremendous highs. Nevertheless, new information indicates that Ethereum and Bitcoin may be quietly making a comeback, even though their ascent may not be as high as initially anticipated. Bitcoin Price Performance in a month to …

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• 10 May 2024 2:54 am

  Market Drivers; US Session, May 9

  

  The USD Index (DXY) gave up some of its recent gain amid lower yields across the curve due to a data-driven sell-off. The BoE furthered the policy divide between the Fed and its G10 counterparts by holding rates steady and paving the way for a rate cut earlier than expected. …

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• 10 May 2024 1:36 am

  Japan’s Suzuki: Appropriate actions will be taken on Foreign Exchange if needed

  

  Shunichi Suzuki, the finance minister of Japan, stated on Friday that he will be closely monitoring the foreign currency (FX) move and that, if necessary, he will take the appropriate action. The Japanese Yen (JPY) shows little to no market reaction to the verbal intervention. As of this writing, the …

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• 9 May 2024 11:40 pm

  Sterling retreats after BoE paved way for rate cut

  

  On Thursday, the British blue-chip stock index set a record as the Bank of England moved closer to reducing interest rates, with a second official endorsing the move. Meanwhile, the pound sterling and UK bond yields declined. Sterling hit a two-week low of $1.2446, down as much as 0.4% vs …

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• 9 May 2024 9:17 pm

  BoE’s Pill: British central bank to think about rate cuts over next few meetings

  

  Chief Economist of the Bank of England, Huw Pill, signaled to markets that the UK’s central bank will be considering rate cuts over the next few meetings, provided there are no “big disturbances” in the economy. BoE’s Pill spoke during a virtual question and answer period regarding the BoE’s Monetary …

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• 9 May 2024 7:29 pm

  Key semiconductor stock declines despite upbeat earnings

  

  Despite a spike in earnings, Arm Holdings, a significant semiconductor firm, has seen a decline in value. Nvidia made a bid of $40 billion to acquire Arm from Softbank in 2020, but European and American regulators vetoed the transaction. In September 2023, the business underwent a spin-off through an IPO, …

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• 9 May 2024 2:07 pm

  European stocks slip as investors await the Bank of England’s verdict

  

  European stocks experienced a slight downturn on Thursday as investors took a moment to pause following recent gains and awaited the upcoming decision from the Bank of England regarding monetary policy. The European STOXX 600 index edged down by 0.1 percent as markets digested the latest developments. Among the sectors, …

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• 9 May 2024 1:01 pm

  Nikkei gives up early gains after chip industry-related stocks decline

  

  The Japanese Nikkei index struggled to maintain its early gains and ultimately closed lower on Thursday, with chip-related companies bearing the brunt of the decline. This downturn was notably influenced by the subdued annual revenue estimates reported by the British chip design company, Arm Holdings, which fell short of market …

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• 9 May 2024 11:42 am

  Gold is locked in a narrow range ahead of data

  

  Gold prices remained relatively stable on Thursday as investors redirected their attention towards upcoming US economic data, which could offer insights into the Federal Reserve’s stance on interest rate adjustments. At 0456 GMT, spot gold edged up by 0.2 percent to $2,314.26 per ounce, while US gold futures dipped slightly …

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