Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 24 June 2024 9:05 pm

  The Dollar Takes a Break After a Week’s Rally

  

  The US dollar gained ground last week but stumbled at the start of this one. The Federal Reserve is urging caution on loosening its grip on interest rates too soon.Mixed economic data, like spending figures and revised GDP numbers, are on investors’ radar. On Monday, the US dollar, according to …

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• 24 June 2024 7:48 pm

  Official Suggests ECB’s Policy Divergence from Fed Temporary

  

  European Central Bank Executive Board member Isabel Schnabel downplayed the likelihood that interest rates in the euro zone will take a significantly different path from those in the US. “So far this hasn’t really played out that much,” Schnabel told a panel discussion Monday in Berlin. “The macro economy is …

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• 24 June 2024 4:15 pm

  Oil Prices Edge Higher Amidst Summer Driving Optimism, Geopolitical Concerns

  

  Oil Prices Edge Higher Amidst Summer Driving Optimism, Geopolitical Concerns Oil prices continued their upward trend on Monday, buoyed by expectations of increased demand during the summer driving season, particularly in the crucial U.S. market. As of 08:25 ET, Brent oil futures rose 0.5% to $84.78 a barrel, while West …

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• 24 June 2024 2:55 pm

  Bitcoin Miners’ Struggles Drive Crypto Sell

  

  Bitcoin’s downward spiral continues, plummeting to the $62,300 range as the new week begins. This latest sell-off is attributed to the financial strain on Bitcoin miners, who have offloaded over $2 billion worth of Bitcoin this month to offset dwindling revenues. The root of the miners’ woes lies in the …

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• 24 June 2024 2:23 pm

  U.S. Stock Futures Nudge Higher Amidst Anticipation for Key Inflation Data

  

  U.S. stock index futures saw a slight uptick on Monday, hovering near record highs as investors eagerly awaited this week’s crucial inflation data for insights into the future trajectory of interest rates. Early morning trading saw Dow Jones Futures rise 0.3%, S&P 500 Futures climb 0.1%, and Nasdaq 100 Futures …

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• 24 June 2024 1:10 pm

  Yen Under Pressure as Dollar Remains Strong, Global Markets Await US Inflation Data

  

  The Japanese yen continued to struggle against a resilient US dollar, flirting with the psychologically significant 160 level. This renewed weakness has prompted warnings from Japanese authorities, raising concerns about potential intervention to prop up the currency. The yen’s decline has been fueled by the Bank of Japan’s decision to …

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• 24 June 2024 12:13 pm

  Bank of Japan on the Cusp of Policy Shift: Rate Hike Looms as Inflation Surges

  

  A sense of urgency is building within the halls of the Bank of Japan (BOJ) as the nation grapples with surging inflation and a weakening yen. The once-unthinkable prospect of raising interest rates is now at the forefront of policy discussions, with recent meeting summaries revealing a growing consensus among …

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• 24 June 2024 11:41 am

  European Markets Hold Steady Amidst Political and Industry Shifts

  

  A cautious mood settled over European markets on Monday, with the pan-European STOXX 600 index maintaining its position at 515.06 points. The flat opening was largely attributed to a decline in mining stocks, dragged down by weaker metal prices. However, the automotive sector provided a glimmer of hope, accelerating with …

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• 24 June 2024 11:20 am

  Asian Stocks Slide as China Trade War Fears Escalate, US Inflation Data Looms

  

  Asian stock markets experienced a downturn on Monday, with Chinese markets bearing the brunt of the losses amid escalating concerns of a potential trade war with the European Union. The prospect of a prolonged period of high interest rates in the U.S. further dampened investor sentiment. Wall Street provided a …

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• 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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