Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 6 May 2024 10:44 am

  Gold rises, affected by tensions in the Middle East and hopes of a US interest rate cut

  

  Gold prices rose on Monday, May 6, as continued tensions in the Middle East and expectations that the US Federal Reserve will begin lowering interest rates later in the year increased the appeal of the precious metal. Gold rose in instant transactions 0.3% to $2,309.24 per ounce by 0427 GMT. …

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• 6 May 2024 9:48 am

  Oil Futures Rise Amid Saudi Price Hike and Gaza Tensions

  

  Oil futures saw an uptick on Monday, May 6, following Saudi Arabia’s decision to raise crude prices for most regions in June, coupled with escalating concerns over the conflict between Israel and Hamas, which could potentially impact oil production. At 0119 GMT, Brent crude futures climbed 28 cents, or 0.3%, …

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• 6 May 2024 3:44 am

  Weekly Recap: Dollar Weakness Yields to Gold and Risk Asset Gains

  

  US Dollar Index (DXY) Slips on Weak Employment Data Significant losses were incurred by the US Dollar Index (DXY), closing the North American session on Friday around the 105 mark, in contrast to the week’s opening reading of 106.093. This decline followed the release of US employment data for April, …

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• 4 May 2024 4:11 am

  Wall Street Rallies on Softer US Data, Giants’ Results

  

  On Friday, the stock market rallied, continuing its upward trajectory for a third week. Despite a weaker-than-expected jobs data for April that heightened investor expectations for a rate decrease by the Federal Reserve later this year, this bullish feeling persisted.What is driving the US stock market?Wall Street is generally cheering …

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• 3 May 2024 10:29 pm

  Shell exceeds expectations with upbeat Q1 profits

  

  Amid difficulties in Russian refining and shipping across the Red Sea, Shell reported a $7.7 billion profit for the first quarter, exceeding estimates and driving higher oil trading and liquefied natural gas production. Over the following three months, Shell intends to repurchase $3.5 billion worth of shares, continuing at the …

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• 3 May 2024 9:10 pm

  Bitcoin Successfully Passes Nonfarm Payrolls Test

  

  As of this writing, Bitcoin has gained 4.42% and is trading at 61,739 following the release of the NFP data, while the US Dollar Index is declining and has dropped 0.26% to 105.074. In light of this, the US jobs report serves as a crucial event for markets, putting further …

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• 3 May 2024 8:21 pm

  Fed’s Bowman: Willing to raise rates if inflation persists

  

  Michelle W. Bowman, a member of the Federal Reserve Board of Governors, issued a warning, stating that there is a serious chance that inflation may stay high for a lot longer than most people think. Fed Board member Bowman gave a lecture at the Massachusetts Bankers Association Annual Convention in …

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• 3 May 2024 7:06 pm

  Fed’s Goolsbee: Current employment numbers are very solid

  

  President of the Federal Reserve Bank of Chicago Austan Goolsbee commented, Friday, on the labour market data for April, saying that it is good, with 175,000 new jobs created.Following these remarks, the US Dollar Index bounced back from daily lows and was last noted down 0.25% at 105.06.Nonfarm Payrolls in …

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• 3 May 2024 4:37 pm

  US Nonfarm Payrolls Surge by 175,000 in April

  

  The latest report from the US Bureau of Labor Statistics (BLS) revealed that Nonfarm Payrolls (NFP) in the US increased by 175,000 in April. This figure marks a slight slowdown compared to the revised increase of 315,000 (originally reported as 303,000) recorded in March and fell short of the market’s …

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• 3 May 2024 4:09 pm

  Inflation in Türkiye rose near 70%, recording the highest level since 2022

  

  Official data released on Friday revealed that annual consumer price inflation in Turkey surged to 69.8 percent in April, marking the highest level since late 2022. This figure, while slightly below expectations, was primarily driven by significant increases in education, restaurant, and hotel prices. According to the Turkish Statistical Institute, …

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• 3 May 2024 2:33 pm

  European stocks rise thanks to banking results and technology sector gains

  

  European stocks opened higher on Friday amid a state of joy among investors with a group of strong results from French banks, including Société Générale and Credit Agricole, while the technology sector received support thanks to strong results announced by Apple in addition to an unprecedented share buyback. The European …

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• 3 May 2024 1:02 pm

  JPY poised to record best weekly performance in more than a year, USD declines

  

  The yen is poised to achieve its most impressive weekly performance in over a year on Friday, propelled by suspected intervention from Tokyo earlier in the week to prevent the Japanese currency from reaching its lowest levels in 34 years. This move has led to a general decline in the …

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• 3 May 2024 11:00 am

  Gold heading lower for the second week ahead of US jobs data

  

  Gold prices are heading to decline for the second week in a row, despite the stability of prices on Friday, as investors await non-farm payrolls data in the United States, which may provide indications of the position that the Federal Reserve (the US central bank) will adopt regarding monetary policy. …

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