Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 21 June 2024 3:56 pm

  Oil Prices Stabilize, Poised for Weekly Gains Amidst Rising Demand and Geopolitical Tensions

  

  Crude oil futures held steady on Friday, with Brent crude futures for August settlement experiencing a slight dip and U.S. West Texas Intermediate (WTI) crude futures for August delivery also edging lower. However, both benchmarks were set to achieve a second consecutive week of over 3% gains, reaching their highest …

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• 21 June 2024 1:58 pm

  Dollar Soars to New Highs as Fed Remains Hawkish, Sterling Retreats Further

  

  The U.S. dollar continued its upward trajectory on Friday, reaching new highs as the Federal Reserve’s hawkish stance contrasted with the more dovish policies of its European counterparts. Sterling, meanwhile, continued its decline amid expectations of a Bank of England rate cut in August. The Dollar Index, measuring the greenback …

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• 21 June 2024 12:44 pm

  European Stocks Dip on Tech Selloff and Carlsberg’s Failed Takeover Bid

  

  European shares opened lower on Friday, led by a decline in technology stocks and a sharp drop in Carlsberg Group shares following the rejection of its takeover bid for British soft drinks maker Britvic. The pan-European STOXX 600 index fell 0.2% in early trading, with the technology sector experiencing a …

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• 21 June 2024 4:11 am

  Market Drivers; US Session, June 20

  

  The dollar recovered strong upside traction and maintained the price action in the risk complex depressed amidst interest rate cuts speculation and soft US data releases. In addition, the BoE and the Norges Bank kept their policy rates unchanged vs. a surprising cut by the SNB.The DXY rose to four-day …

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• 21 June 2024 3:18 am

  Why are money market funds the preferred choice for some investors?

  

  After 25 basis-point rate cut decisions by the ECB and BoC, the Fed left rate unchanged (within 5.25%: 5.5% range) with one possible cut before yearend. This decision bodes well for holders of assets in money market funds that provide returns exceeding dividend stocks and REITs, while their performance is …

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• 21 June 2024 12:00 am

  EUR/USD Retreats Ahead of Key PMI Data in US, Eurozone

  

  EUR/USD has slumped to 1.07. The week’s gains were eroded by a miss in US economic figures, which bolstered the dollar. Markets prepare for Friday’s Purchasing Managers Index (PMI) figures for both the EU and the US.Germany’s Producer Price Index (PPI) fell to 0.0% on a month-over-month basis in May, …

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• 20 June 2024 11:40 pm

  S&P 500 retreats after briefly topping 5,500 for the first time ever

  

  The S&P 500 and Nasdaq Composite experienced a drop in volume on Thursday, with the broad market index falling 0.3% after briefly reaching the 5,500 level. Nvidia that temporarily unseated Microsoft as the most valuable public company, declined 3.4% after rising earlier in the session. Shares have climbed more than …

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• 20 June 2024 9:37 pm

  US Dollar climbs on rising treasury yields despite weak data

  

  US Dollar gets a boost from an increase in US Treasury yields on Thursday. Markets still show signs of caution as Fed officials express a conservative stance on embracing easing cycles.US Treasury yields saw a considerable rise, with gains exceeding 1%. The 2-year, 5-year and 10-year rates stood at 4.74%, …

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• 20 June 2024 7:57 pm

  Whales Drag Bitcoin 2.8% Lower After Nearing $66,400

  

  Bitcoin bulls’ hopes have been dashed once again as liquidity grabs erase the latest BTC price recovery. Bitcoin/USD was hitting $66,455 before the Wall Street open, but a slow grind beyond $66,000 evaporated before an abrupt about turn sent the pair a full $2,000 lower. Observers put the blame firmly …

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• 20 June 2024 3:39 pm

  Bank of England Holds Interest Rates Steady Despite Easing Inflation

  

  The Bank of England (BoE) maintained its benchmark interest rate at 5.25% on Thursday, despite a recent slowdown in inflation. This decision reflects the central bank’s cautious approach, as it continues to monitor underlying price pressures and robust wage growth. The Monetary Policy Committee (MPC) voted 7-2 to keep the …

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• 20 June 2024 1:48 pm

  Swiss National Bank Leads Global Policy Easing with Rate Cut, Signaling Confidence in Inflation Outlook

  

  The Swiss National Bank (SNB) reduced interest rates for the second consecutive time on Thursday, highlighting its confidence in easing price pressures and solidifying its position at the forefront of the global policy easing cycle. The central bank’s decision to cut its policy rate by 25 basis points to 1.25% …

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• 20 June 2024 12:59 pm

  European Stocks Rise on Tech and Real Estate Gains, Swiss Market Boosted by Rate Cut

  

  European shares experienced a positive trading session on Thursday, propelled by a surge in technology and real estate stocks. The pan-European STOXX 600 index rose 0.4% by mid-morning, with ASMI, a semiconductor equipment manufacturer, leading the charge in the tech sector after receiving an upgrade from Morgan Stanley. Switzerland’s benchmark …

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• 20 June 2024 12:02 pm

  Asian Markets Hold Steady, Awaiting U.S. Policy Signals and Key Central Bank Decisions

  

  Asian stocks maintained their position near a two-year peak on Thursday, as traders eagerly awaited further guidance on U.S. monetary policy. The Bank of England (BoE), Swiss National Bank (SNB), and Norges Bank (Norway’s central bank) were all set to announce their policy decisions, further shaping the global interest rate …

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