Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 20 July 2024 2:47 am

  Behind the Curtains: Likely Bidenexit Matters for US Economy

  

  About 29 Democrats in the House are calling for US President Joe Biden to step down. However, some top Democrats privately believe that the rising pressure of party congressional leaders and close friends will persuade Biden to quit the presidential race as soon as this weekend. The 81-year-old president remains …

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• 20 July 2024 12:25 am

  US dollar strengthens, celebrates a winning week

  

  Long-term gains are seen in the US Dollar DXY, which approaches 104.365 as sellers retreat. The USD may still be burdened by worries about the US labor situation. By the conclusion of the week, the US was benefiting from risk aversion.Notwithstanding ongoing concerns over the job market, the US dollar …

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• 19 July 2024 11:11 pm

  Stock Market Struggles Ahead of Looming Huge Earnings

  

  The tech industry is experiencing a severe decline, which has been negatively impacting the stock market. In the upcoming week, GE Aerospace, Tesla, ServiceNow, and Alphabet, the parent company of Google, will all be releasing their earnings results. Amid issues with chips, the CrowdStrike IT failure, and other issues, the …

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• 19 July 2024 10:11 pm

  USD/JPY Consolidates Ahead of the weekend

  

  The USD/JPY pair rises up 0.06%, but fails to break above 158.00. Key supports at 157.00, 156.00, and bottom of the Kumo at 155.50/60; further support at 155.37 and 155.00. Potential resistance at 157.50 and July 16 peak at 158.85 if buyers push the pair higher.The USD/JPY edged up during …

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• 19 July 2024 10:04 pm

  Why Has Gold Dropped Below $2,400 after All-Time Peak?

  

  Gold hits a peak of $2,447 before falling 1.90% to $2,398. Fears over Trump’s chances of winning the election and China’s economic expansion strengthen the US dollar. US Treasury yields rise, with the 10-year note at 4.233%; the US Dollar Index rises to 104.34, up 0.18%. The statistics released this …

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• 19 July 2024 3:49 pm

  Global Computer Systems Meltdown: CrowdStrike Software Update Triggers Widespread Chaos

  

  A seemingly routine software update from cybersecurity firm CrowdStrike unleashed a wave of chaos on Friday, causing widespread disruptions to critical computer systems worldwide. The malfunctioning update impacted a multitude of industries and services, from grounding flights and silencing broadcasters to disrupting banking and healthcare operations. The culprit behind the …

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• 19 July 2024 1:38 pm

  Dollar Rebounds Amidst Uncertainty, Sterling Slips on Weak Retail Sales Data

  

  The U.S. dollar gained slightly on Friday, setting the stage for a positive week, while the British pound retreated following the release of disappointing retail sales figures. Dollar Finds Support: The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.2% to 104.065, recovering from …

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• 19 July 2024 12:24 pm

  July’s FOMC Meeting: Holding Steady or Rate Cut?

  

  The July meeting is likely to see continued stable rates. However, a future rate cut depends on inflation and the overall health of the economy. The Fed will be monitoring data closely and adjusting policy as needed. The Federal Reserve’s next policy meeting is coming up on July 30-31, 2024. …

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• 19 July 2024 12:23 pm

  European Stocks Slump on Commodity and Tech Weakness, Mixed Earnings Add to Uncertainty

  

  European shares faced a challenging day on Friday, extending their weekly losses as a combination of factors weighed on investor sentiment. The pan-European STOXX 600 index experienced a significant decline of 0.6%, reaching a two-week low, amid a widespread sell-off across various sectors. The travel and leisure sector suffered the …

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• 19 July 2024 11:42 am

  Gold Prices Tumble from Record Highs Amid Profit-Taking and Dollar Strength

  

  Gold prices experienced a sharp decline in Asian trading on Friday, retreating from recent record highs due to a combination of profit-taking and a strengthening dollar fueled by speculation over a potential second term for Donald Trump and stricter U.S. trade policies. The spot gold price plummeted 0.9% to $2,423.89 …

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• 19 July 2024 11:11 am

  Asian Stocks Slide Amid US-China Trade War Concerns

  

  Asian stock markets experienced a broad decline on Friday, fueled by persistent worries over a potential trade war between the U.S. and China. The technology sector led the losses, despite positive earnings from TSMC, as investors continued to rotate out of tech stocks and into economically sensitive sectors. Key Takeaways: …

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• 19 July 2024 4:25 am

  Market Drivers: US Session – July 19

  

  ECB Policy Decision, USD Gains Momentum: The European Central Bank (ECB) adhered to market expectations by leaving its policy rates unchanged. President Christine Lagarde’s remarks also failed to surprise investors. However, the US dollar (USD) regained strength, fueled by rising yields ahead of key Federal Reserve (Fed) speakers scheduled for …

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• 19 July 2024 4:11 am

  How have US stocks reacted to rate bets, statements by Fed officials?”

  

  On Thursday, US stocks experienced significant losses after profit-taking triggered by the desire to benefit from the recent gains they had achieved over the past few days. This came in the wake of increasing expectations of an interest rate cut by the Fed in September. The recent surge in stock …

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