Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 18 July 2024 3:56 am

  Explainer: Why oil recovers gain 2% after three declining days

  

  A larger-than-expected weekly decline in US crude stockpiles and a weaker US currency overcame hints of slower Chinese economic growth as oil prices rose by almost 2% on Wednesday. By 1:33 p.m. EDT (1733 GMT), Brent futures had increased by $1.35, or 1.6%, to $85.08 per barrel, while US West …

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• 18 July 2024 2:45 am

  GBP/JPY drops as rumors amid continued BoJ’s Yenterventions

  

  A return to 203.00 was seen in the GBP/JPY as markets began to expect further market intervention. On Wednesday, the Yen surged against the Pound Sterling by a whole percentage. This comes after a sharp 2% decrease and spike in BoJ spending last week. The GBP/JPY pair resumed its recent …

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• 18 July 2024 12:12 am

  XAU/USD retreats despite Fed rate cut expectations

  

  Gold prices have fallen to $2,457 after reaching an all-time high of $2,483 because of profit-taking. Fed officials, led by Governor Christopher Waller, signal potential rate cuts, suggesting a downward trend for the Fed funds rate. The US Dollar Index drops to 103.72, its lowest level since March 2024, while …

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• 17 July 2024 11:26 pm

  No ECB’s surprise rate cut in July as focus shifts to September

  

  In July, there won’t be any surprise rate cut, and all eyes are now on September. Following the June rate cut, the European Central Bank (ECB) is expected to keep interest rates unchanged during its July meeting. Policymakers emphasize that the June cut does not imply a linear reduction in …

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• 17 July 2024 10:18 pm

  Despite positive housing data, dovish Fed bets, US dollar retreats

  

  The US dollar saw a decline, falling to its lowest level since March. Federal Reserve wagers are still skewed toward a dovish position, which affects the USD. Robust housing data was unable to stop this trend.On Thursday, the US Dollar measured by the DXY index saw an extension in its …

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• 17 July 2024 9:09 pm

  Canadian dollar retreats as markets reassess BoC rate decision

  

  Investors are re-evaluating recent Canadian inflation data, causing the Canadian dollar to weaken ahead of the Bank of Canada’s crucial interest rate decision next week. While headline inflation dipped slightly, core inflation – a more reliable indicator of underlying price pressures – remained steady, raising concerns about a potential resurgence.BoC’s …

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• 17 July 2024 8:04 pm

  GBP/USD Surges After UK Inflation Data

  

  The British Pound (GBP) surged in value during Wednesday’s trading session in New York. This jump came after the UK’s statistics office (ONS) released inflation data for June that was higher than expected. The report showed that overall inflation and inflation excluding certain items (core inflation) both went up in …

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• 17 July 2024 7:31 pm

  Should Investors Buy Tesla Now, or Wait to See?

  

  Tesla’s stock defies typical analysis. While most companies see their value tied to financial performance, Tesla’s price is heavily influenced by excitement for its future prospects and the bold pronouncements of its CEO, Elon Musk. This has resulted in a stock price as volatile as a California wildfire, though it …

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• 17 July 2024 2:57 pm

  Nasdaq Futures Dive Over 1% as Investors Dump Tech Stocks, Turn to Small-Caps

  

  U.S. stock index futures tumbled on Wednesday, with the Nasdaq 100 leading the decline, as investors offloaded megacap tech and chip stocks and shifted their focus to previously underperforming areas of the market, such as small-cap stocks. Major tech companies like Apple, Microsoft, and Alphabet all saw their shares drop …

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• 17 July 2024 12:45 pm

  European Stocks Dip on ASML’s Dim Outlook and US Trade Restriction Concerns

  

  European shares opened lower for the third consecutive day on Wednesday, primarily dragged down by Dutch semiconductor firm ASML’s disappointing forecast and apprehensions over potential stricter trade rules from the United States. Key Points: STOXX 600 Declines: The pan-European STOXX 600 index experienced a 0.3% drop, with the technology sub-index …

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• 17 July 2024 11:22 am

  Oil Prices Edge Lower on China Demand Concerns Despite U.S. Stockpile Drawdown

  

  Oil prices experienced a slight decline on Wednesday, with Brent crude hovering near a one-month low due to persistent worries about weakening demand in China. However, the losses were somewhat mitigated by a reported decline in U.S. oil inventories. Key Points: Brent and WTI Decline: Brent crude oil futures fell …

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• 17 July 2024 10:51 am

  UK Inflation Holds Steady, Challenging Rate Cut Expectations

  

  In a surprising turn of events, UK inflation defied expectations and remained at 2.0% in June, raising doubts about the Bank of England’s (BoE) plans for an interest rate cut. Economists had predicted a slight decline to 1.9%, but the latest figures released on Wednesday revealed a stubborn persistence of …

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• 17 July 2024 9:46 am

  Gold Prices Hit Record Highs on Renewed Rate Cut Optimism

  

  Gold prices soared to unprecedented levels in Asian trade on Wednesday, continuing a remarkable rally fueled by growing optimism that the Federal Reserve will implement interest rate cuts as early as September. This surge reflects a significant shift in market sentiment, driven by recent economic data and dovish signals from …

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