Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 17 July 2024 2:37 am

  Gold Sets New Record High on US Rate Cut Hopes

  

  Gold prices soared by more than 1.93% on Tuesday, fueled by intensifying expectations for a US interest rate cut in September. This sentiment gained momentum following the release of the latest US inflation data, which came in weaker than anticipated. The attempted assassination of former US President and Republican candidate …

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• 17 July 2024 1:26 am

  Market Drivers; US Session, July 16

  

  The US Dollar and the majority of riskier assets were essentially steady from Monday’s closing levels, despite the indecisive price action in the Forex market on Tuesday due to persistent anticipation of a rate cuts by the Fed in September.As Tuesday’s trading day came to a finish, the positive impact …

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• 16 July 2024 11:18 pm

  Fed’s Kugler: It will be appropriate to cut rate on cooling labour

  

  Dr. Adriana Kugler, member of the Fed Board of Governors, pointed out on Tuesday that although inflationary pressures have undoubtedly decreased, the Fed still needs to complete some parts of the rate-cutting puzzle before it can move on rates.Key QuotesIf incoming data does not provide confidence that inflation is moving …

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• 16 July 2024 10:51 pm

  Dow Jones Gains 680 Points After Retail Sales Data

  

  Dow Jones surged 1.7% in a single trading day as rate cut hopes accelerate. Easing US Retail Sales data reignited market bets of a September rate cut. Dow Jones sets a new record high for a second day in a row.Dow Jones surged to a second record-setting day in a …

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• 16 July 2024 10:05 pm

  Dollar Strengthens Against Yen Despite Yentervention Concerns

  

  The US dollar has gained significant ground against the Japanese yen, even amidst fears of intervention by the Bank of Japan. During yesterday’s trading session, the USD/JPY pair reached 158.30, following an earlier low of 157.97. Tokyo data reveals that approximately 2.14 trillion Japanese yen (equivalent to 13.5 billion US …

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• 16 July 2024 8:38 pm

  Crude oil further declines on Chinese demand concerns

  

  West Texas Intermediate (WTI) crude oil prices dropped below $80.00 per barrel due to weakening Chinese demand. The market decline is persisting, and bids are approaching long-term averages, leading to a slowdown in the WTI bull run.Tuesday saw a decline in WTI oil as investors were increasingly concerned about the …

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• 16 July 2024 7:41 pm

  Bank of America Stock leaps post Q2 results

  

  Higher consumer interest rates continued to hurt profitability in the US banking sector, as Bank of America said on Tuesday that its Q2 profit decreased 6.8% from the same period last year. Nonetheless, as total earnings exceeded analysts’ projections, the stock surged more than 4%, surpassing the S&P 500’s 0.2% …

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• 16 July 2024 6:41 pm

  Explainer: Why Morgan Stanley’s Earnings Represent “A Tale of Two Businesses”

  

  For most investors, Morgan Stanley’s Q2 earnings release painted a mixed image. Despite the bank’s total performance exceeding forecasts, a critical area of concern kept Wall Street’s response subdued.Investment Banking SoarsMorgan Stanley’s investment banking segment was its strong point. Due to an increase in dealmaking activity, this segment—which assists businesses …

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• 16 July 2024 2:56 pm

  Japan Keeps Markets on Edge as Yen Intervention Remains a Possibility

  

  Japanese authorities are keeping markets on high alert as they reaffirm their commitment to take necessary measures against excessive volatility in the yen. The recent sharp decline of the currency to 38-year lows has sparked speculation about potential government intervention, and recent statements by Chief Cabinet Secretary Yoshimasa Hayashi have …

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• 16 July 2024 12:57 pm

  Oil Prices Fall on China’s Economic Slowdown Concerns Despite Expected Fed Rate Cuts

  

  Oil prices experienced a decline on Tuesday due to worries about a slowing Chinese economy potentially reducing oil demand. This occurred despite a growing consensus that the U.S. Federal Reserve might begin cutting interest rates as early as September. Key Points: Chinese Economic Slowdown: China’s weaker-than-expected economic growth in the …

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• 16 July 2024 7:24 am

  How have markets reacted to the Trump assassination attempt?

  

  The assassination attempt on US President and 2024 presidential candidate Donald Trump put the financial markets to a difficult test as a new week of trading began.The markets showed slight confusion at the beginning of trading on Monday, but risk appetite quickly took control of the price movement in the …

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• 15 July 2024 9:11 pm

  Powell: Decisions to be made on a meeting-by-meeting basis

  

  Fed Chairman Jerome Powell noted that the US economy has performed remarkably well in recent years while giving a nod of the head to recent inflation readings. The head of the Fed also reaffirmed that the Fed won’t be waiting until inflation reaches the 2% annual target.Key QuotesEconomy performed remarkably …

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• 15 July 2024 8:31 pm

  Gold surges above $2,430 on back of rate-cut bets

  

  Gold price gains above $2,430, driven by growing speculation for Fed rate cuts in September. Softer-than-expected US inflation for June indicated that price pressures are on course to return to 2%.Investors await Fed Powell’s speech and the US Retail Sales data for June. The XAU/USD Index resumes its upside journey …

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