Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 27 May 2024 11:20 pm

  US Dollar stays in red territory ahead of GDP, PCE data

  

  Data on US income, spending, consumer confidence, and Q1 GDP will likely shape the US Dollar Index’s trajectory this week.Fed’s Beige Book report on Wednesday is expected to suggest a balanced economic backdrop. Investors anticipate less than 80% odds of November rate cut and 50% chance of cut in September. …

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• 27 May 2024 9:25 pm

  Why does Billionaire Palihapitiya See US Economy in Recession?

  

  In an episode of the All-In Podcast, billionaire Palihapitiya discusses why over half of Americans believe the US economy is in a recession despite a 1.6% GDP rise last quarter. He suggests that the negative sentiment may be due to the components used to measure the GDP, which may give …

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• 27 May 2024 8:43 pm

  Canadian Dollar gains momentum versus the weaker US counterpart

  

  The Canadian dollar surpasses the US dollar on Monday, but its success is inconsistent. Up until Friday’s GDP data, Canada doesn’t add much of importance to the economic calendar. The US markets are closed on Memorial Day, with low trading turnover. Due to a calm US market session, the Canadian …

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• 27 May 2024 7:56 pm

  Yellen warns higher rates make it harder to manage deficit

  

  Treasury Secretary Janet Yellen has warned that the outlook for higher interest rates over the long haul makes it harder to contain US borrowing needs, heightening the importance of boosting revenue in negotiations with Republican lawmakers.The White House sees the inflation-adjusted interest payments compared with GDP as stabilizing at about …

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• 27 May 2024 4:22 pm

  German Business Sentiment Stalls, Hinting at Gradual Economic Recovery

  

  German business confidence unexpectedly stagnated in May, defying forecasts of improvement. This suggests that the nation’s economic recovery this year will likely be a slow and gradual process. The Ifo institute’s business climate index held steady at 89.3 in May, falling short of analysts’ expectations of a reading of 90.4. …

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• 27 May 2024 3:18 pm

  Oil Prices Steady Amid Holiday Lull, Inflation Concerns Remain

  

  Oil prices remained largely unchanged on Monday, experiencing only minor gains due to public holidays in Britain and the United States. The subdued trading followed a week marked by concerns about the trajectory of U.S. interest rates in the face of persistent inflation. Brent crude for July delivery saw a …

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• 27 May 2024 1:15 pm

  Dollar Holds Steady Amid Global Inflation Watch, ‘Carry’ Trade Dominates FX

  

  The dollar maintained its position on Monday, despite being on track for its first monthly loss this year. This pause comes as investors keenly await inflation data from the U.S., Europe, and Japan, which will shape the global interest rate outlook. In recent months, foreign exchange trading has been driven …

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• 27 May 2024 11:32 am

  European Markets Tread Cautiously Ahead of Inflation Data

  

  European stock markets opened the week on a subdued note, with many major markets closed for the holiday. Investors exercised caution ahead of crucial inflation data releases from both the U.S. and Europe, scheduled for later this week. The pan-European STOXX 600 index dipped slightly by 0.02% as of early …

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• 27 May 2024 10:25 am

  Asian Stocks Rebound, but U.S. Inflation Data Looms Large

  

  Asian stock markets staged a comeback on Monday, recovering some lost ground from the previous week. This upswing was fueled by a strong finish on Wall Street last Friday, particularly driven by gains in technology stocks that propelled the NASDAQ Composite to a record-high close. However, the anticipation of crucial …

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• 27 May 2024 9:19 am

  Gold Glitters Again, But Inflation Data Holds the Key

  

  After a week of losses, gold prices found their footing in Asian markets on Monday, sparking a glimmer of optimism amongst traders. This modest recovery comes as investors tread cautiously ahead of the crucial U.S. inflation data release this week. Market activity was relatively muted due to holidays in the …

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• 27 May 2024 7:47 am

  Financial Markets’ Weekly Recap: FOMC Minutes, Inflation Attract Most Attention

  

  The minutes of the latest Federal Reserve’s monetary policy meeting as well as inflation data attrac1ted most attention across trading markets for the week. The US dollar closed last week’s trading in an upward direction on the back of signals as well as messages included in FOMC Minutes for May’s …

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• 25 May 2024 12:18 am

  Oil Prices Recover Amid Improved Market Sentiment

  

  Amid broad market sentiment rebound, WTI crude oil bounced back above $77.55 per barrel, up 1.11%. Crude Oil markets are recovering despite ongoing concerns over US oversupply. Fed rate cut bets continue to get hammered by sticky inflation fears. US Crude Oil rebounded on Friday, recovering from a fresh 12-week …

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• 24 May 2024 10:23 pm

  Canadian Dollar Recovers Following Dismal Retail Sales

  

  The Canadian dollar has recovered some losses but remains down for the week. The data shows a further decline in Canada’s Retail Sales, limiting the recovery. Broad market risk appetite recovers after US inflation expectations ease. Canadian Retail Sales slid -0.2% MoM in March, missing the forecasted recovery to 0.0%. …

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