Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 18 October 2024 12:35 am

  DXY Strengthens on Positive Economic Data and Easing Fed Expectations

  

  The US Dollar continued its winning streak, gaining for the fifth consecutive day, as markets digested recent economic data and adjusted their expectations for Federal Reserve interest rate cuts. The US Dollar Index (DXY) climbed to near 104.00, buoyed by a combination of factors. First, the European Central Bank’s (ECB) …

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• 17 October 2024 11:50 pm

  Oil Prices Edge Higher Amidst Middle East Tensions, US Inventory Decline

  

  Oil prices edged higher on Thursday, balancing the impact of falling US crude inventories against escalating geopolitical tensions in the Middle East and underwhelming economic stimulus measures from China.West Texas Intermediate (WTI) and Brent crude both settled slightly higher, with WTI closing at $70.67 a barrel and Brent at $74.45 …

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• 17 October 2024 10:41 pm

  Euro retreats following ECB rate cut

  

  The ECB’s Rate Cut: A Balancing ActThe European Central Bank’s (ECB) decision to reduce interest rates by 25 basis points is a calculated move that reflects the delicate balance between combating inflation and supporting economic growth. While the Eurozone has seen a notable decline in inflation, the ECB remains cautious, …

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• 17 October 2024 8:52 pm

  Why these earnings grabbed investors’ attention

  

  Several major tech companies recently released their earnings reports, providing insights into their financial performance and future prospects. Netflix, TSMC, and Nvidia all reported strong results, driven by factors such as increased demand for their products and services.Netflix’s third-quarter earnings exceeded expectations, with both revenue and earnings per share surpassing …

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• 17 October 2024 7:23 pm

  Pound Sterling Faces Headwinds Amid US Economic Strength and Rising Trump Expectations

  

  The Pound Sterling (GBP) continued its downward trajectory on Thursday, struggling to maintain its position above the 1.3000 level against the US Dollar (USD). This decline was primarily driven by a combination of factors, including stronger-than-expected US economic data and growing optimism about a Donald Trump victory in the upcoming …

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• 17 October 2024 6:18 pm

  U.S. Jobless Claims Decline, But Storms and Strikes Cloud Labor Market Outlook

  

  The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting that the labor market remains resilient despite recent challenges. However, the broader employment picture remains unclear, with the ongoing effects of recent hurricanes and industrial strikes potentially distorting the data in the coming …

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• 17 October 2024 5:10 pm

  U.S. Retail Sales Exceed Expectations in September, Strengthening Growth Outlook

  

  Retail sales in the U.S. increased by 0.4% in September, surpassing expectations and signaling continued economic resilience in the third quarter. This follows a modest 0.1% gain in August, according to the Commerce Department. Economists had anticipated a 0.3% rise, with estimates ranging from no change to an 0.8% increase. …

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• 17 October 2024 5:01 pm

  ECB Cuts Rates for Second Straight Meeting to Combat Inflation and Economic Slowdown

  

  The European Central Bank (ECB) reduced interest rates by a quarter point at its second consecutive meeting on Thursday, aiming to address sluggish inflation and weak economic growth. This marks the first back-to-back rate cut in 13 years, signaling a shift in the ECB’s policy focus from controlling inflation to …

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• 17 October 2024 1:48 pm

  Euro Drops to Two-Month Low as ECB Rate Cut Approaches

  

  The euro fell to a more than two-month low on Thursday ahead of an anticipated European Central Bank rate cut, while the dollar surged to its highest level in 11 weeks due to expectations that Donald Trump, whose policies are viewed as favorable by the market, will win the upcoming …

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• 17 October 2024 12:56 pm

  European Stocks Edge Up as Investors Eye ECB Rate Cut and Mixed Earnings

  

  European stocks edged higher on Thursday, as investors anticipated a dovish tone from the European Central Bank (ECB) following its widely expected interest rate cut. The continent-wide STOXX 600 index inched up 0.1% at 0713 GMT, recovering slightly after a two-day decline. Key Gainers and Earnings Highlights Finnish bank Nordea …

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• 17 October 2024 12:06 pm

  Oil Prices Flat as Investors Watch Middle East Developments and U.S. Inventory Data

  

  Oil prices traded flat on Thursday as investors remained cautious about geopolitical tensions in the Middle East and awaited more information on China’s economic stimulus plans. Traders were also looking ahead to the release of U.S. oil inventory data for further market direction. Brent crude futures dipped by 4 cents …

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• 17 October 2024 11:44 am

  Gold Near Record Highs as Softer Yields, Central Bank Rate Cuts Support Prices

  

  Gold prices rose slightly in Asian trading on Thursday, staying close to record highs despite a strong U.S. dollar fueled by speculation of a second Trump presidency. The rise in gold was supported by lower Treasury yields and expectations of interest rate cuts from major central banks. Spot gold climbed …

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• 17 October 2024 2:51 am

  Market Drivers; US Session

  

  Gold prices rallied during the mid-North American session on Wednesday, bolstered by a decline in US Treasury yields and a disregard for recent US Dollar strength. Anticipations of interest rate cuts by major central banks, fueled by soft inflation data, weighed on bond yields and propelled the non-yielding metal. As …

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