Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 16 October 2024 1:48 am

  Market Drivers, US Session

  

  A mildly positive session left the US Dollar trading near recent levels. Amidst a global decline in yields, market participants remained focused on signals from Federal Reserve officials regarding the potential trajectory of interest rates.Key points for Wednesday, October 16:US Dollar Index (DXY): The DXY hovered near the upper end …

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• 16 October 2024 12:28 am

  Gold Price Surges Amidst US Yield Decline

  

  Gold prices experienced a significant uptick on Tuesday, October 15, 2024, as the yield on US 10-year Treasury notes retreated. This decline, coupled with a weaker US Dollar, made gold more attractive to investors seeking a safe-haven asset.The primary catalyst for gold’s surge was the decrease in US Treasury yields. …

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• 15 October 2024 11:40 pm

  Oil Prices retreat Amid Weaker Demand, Eased Iran Concerns

  

  Oil prices dropped over 4% on Tuesday due to a weaker demand outlook and reduced concerns about a potential Israeli strike on Iranian oil facilities. Both OPEC and the IEA have lowered their global oil demand growth forecasts for 2024.Hedge funds are unwinding their net long positions in oil futures.Crude …

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• 15 October 2024 10:34 pm

  U.S. Treasury Yields Dip Following Daly’s Comments

  

  U.S. Treasury yields have been on a downward trajectory, influenced by a combination of domestic economic data and recent statements from Federal Reserve officials, notably those suggesting a more aggressive pace of interest rate cuts in the coming period.The yield on the 10-year Treasury note declined to 4.032%, compared to …

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• 15 October 2024 9:39 pm

  Global slowdown fears drag US stocks lower despite positive earnings

  

  US stocks experienced a decline on Tuesday, October 15th, as investors digested a series of corporate earnings reports, particularly from the banking and semiconductor sectors. The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite all fell by significant margins.Among the notable developments, Walgreens Boots Alliance saw a substantial increase …

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• 15 October 2024 8:48 pm

  Investors advised to open Certificate of Deposit Accounts Before Fed’s Meeting

  

  The Federal Reserve, the central bank of the United States, plays a crucial role in managing the country’s money supply and interest rates. When interest rates rise, it becomes more expensive to borrow money, while when they lower, borrowing becomes cheaper. Certificates of Deposit (CDs) are savings accounts that offer …

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• 15 October 2024 7:47 pm

  GBP/USD Surging Following Strong UK Jobs Report

  

  The British Pound (GBP) rallied against the US Dollar (USD) on Tuesday, following a robust UK jobs report that exceeded expectations. The unemployment rate declined, and the economy added over 373,000 jobs, boosting the GBP/USD by 0.18%.The strong UK jobs report has provided a boost to the GBP/USD. While the …

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• 15 October 2024 6:45 pm

  USD/CAD Rallies on Weaker Canadian Inflation Data

  

  USD/CAD Surges as BoC Faces Pressure to Ease RatesThe Canadian Dollar (CAD) weakened against the US Dollar (USD) following the release of cooler-than-expected Canadian inflation data. The Consumer Price Index (CPI) declined to 1.6% annually in September, from 2.0% in August, and below estimates of 1.8%.Lower Inflation Signals Rate CutsThe …

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• 15 October 2024 3:36 pm

  U.S. Stock Futures Hold Steady as Earnings Season Heats Up

  

  U.S. stock index futures remained steady on Tuesday after a strong rally in technology shares pushed major Wall Street indices to record highs in the previous session. As investors prepare for key corporate earnings reports, market sentiment remains cautious but optimistic. By early morning trading, Dow Jones Futures inched up …

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• 15 October 2024 1:58 pm

  Oil Prices Plunge 4% on Weaker Demand Outlook and Easing Middle East Tensions

  

  Oil prices tumbled more than 4% on Tuesday, reaching their lowest levels in nearly two weeks due to a weaker global demand outlook and a report suggesting that Israel may refrain from striking Iranian oil infrastructure. This development eased concerns over potential supply disruptions in the Middle East, which had …

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• 15 October 2024 1:00 pm

  U.S. Dollar Near Two-Month High as Fed Repricing Boosts Optimism

  

  The U.S. dollar held close to its highest levels in over two months on Tuesday, buoyed by expectations that the Federal Reserve will adopt a more cautious approach to rate cuts in the near term. Traders have dialed back predictions of large rate cuts following a series of robust U.S. …

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• 15 October 2024 10:02 am

  Asian Stocks Rise on Wall Street Gains, Chinese Stocks Lag Amid Weak Data

  

  Most Asian stocks climbed on Tuesday, tracking Wall Street’s record highs as the third-quarter earnings season approached. However, Chinese markets lagged due to disappointing economic data and fading optimism over fiscal stimulus measures from Beijing. Regional markets benefited from Wall Street’s strong performance, with the S&P 500 and Dow Jones …

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• 15 October 2024 3:05 am

  Market Drivers; US Session

  

  Dollar Index (DXY) Soars, Dragging Down Major Pairs The US Dollar Index (DXY) continued its upward trajectory, breaching the 103.00 mark, driven by risk-off sentiment in the global market. Key economic indicators and speeches from Federal Reserve officials are scheduled for the day. The Euro (EUR/USD) weakened further, falling below …

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