Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 23 May 2024 6:25 pm

  Will US House’s FIT21 Bill boost cryptocurrencies?

  

  The FIT21 Bill is frequently cited by analysts as a critical step towards cryptocurrency regulation. A big bill that is presently passing the US House of Representatives is called the Financial Innovation and Technology for the 21st Century Act (FIT21). Why it matters is as follows:Regulatory Framework for Digital Assets:In …

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• 23 May 2024 2:55 pm

  U.S. Dollar Eases Slightly but Remains Near One-Week High Post-Fed Minutes

  

  The U.S. dollar handed back some of the previous session’s gains on Thursday but remained near a one-week high following the release of hawkish minutes from the last Federal Reserve meeting. The minutes suggested that U.S. interest rates could remain elevated for an extended period. As of 04:20 ET (08:20 …

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• 23 May 2024 12:45 pm

  Gold Prices Retreat Amid Rising Rate Concerns and Dollar Strength

  

  Gold prices experienced extended losses in Asian trade on Thursday, further retreating from recent record highs as renewed worries about high interest rates and diminished safe haven demand weighed on the yellow metal. Industrial Metals Follow Suit Industrial metals, including copper, also faced losses, with copper prices sharply declining from …

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• 23 May 2024 12:06 pm

  European Stocks Rise on Nvidia Forecast, Await Business Surveys

  

  European stocks edged higher on Thursday following upbeat forecasts from AI giant Nvidia, boosting global chipmakers. Investors awaited the latest business surveys to assess the euro zone economy’s outlook and interest rate trajectory. The pan-European STOXX 600 index rose 0.2%, with the tech index leading sectoral gains with a 1.2% …

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• 23 May 2024 11:24 am

  Asian Markets React to Policy Patience and Geopolitical Tensions

  

  Several Asian share benchmarks experienced declines on Thursday as investors grappled with the implications of policymakers adopting a patient approach to monetary easing amidst persistent inflationary pressures. Geopolitical tensions, particularly in the Taiwan Strait, added to market concerns. Market Movements Chinese blue chips and Hong Kong’s Hang Seng Index faced …

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• 23 May 2024 5:17 am

  How have financial markets reacted to latest FOMC minutes?

  

  On Wednesday, the Fed issued the minutes of its last meeting held on April 30 and May 1, which sheds light on monetary policy trends and overall economic conditions. The minutes also answer important questions related to the challenges facing financial markets in America and the world. Let’s have a …

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• 23 May 2024 12:24 am

  Nvidia’s Profit Soars, Underscoring Dominance in AI Chips

  

  Nvidia reported Q1 earnings, which were impressive, with net income rising more than sevenfold compared to the previous year. The company’s revenue also experienced remarkable growth, more than tripling from $7.19 billion to $26.04 billion during the same period. Analysts had high expectations, and NVIDIA exceeded them. Earnings per share …

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• 22 May 2024 11:38 pm

  GBP/USD slides after FOMC minutes, surprise UK election news

  

  The GBP/USD pair is easing back from Wednesday’s early gains after FOMC showing. UK PM Sunak calls for general election July 4 in a bid to hold power. A rate cut in June 2024 look less likely, the GBP/USD pair is pulling back from Wednesday’s early gains after the FOMC …

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• 22 May 2024 10:32 pm

  FOMC minutes support a probable rate cut in September

  

  Despite expressing disappointment over recent inflation readings, Federal Reserve officials at their last policy meeting indicated they still believed that price pressures would gradually ease. This sentiment was reflected in the minutes of the Fed’s April 30-May 1 session.Although the current policy response would “involve maintaining” the central bank’s benchmark …

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• 22 May 2024 9:46 pm

  US stocks continue quiet trading ahead of FOMC minutes

  

  US stock indexes are drifting around their records, with the S&P 500 remaining virtually unchanged. Target tumbled 7.4% after reporting profit for the latest quarter that fell short of analysts’ expectations, and forecasted ranges for upcoming profit fell below analysts’ estimates. Nvidia’s headline profit report will come after trading closes …

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• 22 May 2024 9:17 pm

  US Dollar Slightly Higher Ahead of May’s FOMC Minutes

  

  The US Dollar Index (DXY) is currently trading near 104.80, showing minor gains during Wednesday’s American session. Despite soft inflation data reported last week, the Greenback remains resilient, thanks to cautious statements from Federal Reserve (Fed) officials.The upcoming release of the FOMC Minutes is crucial for investors seeking insights into …

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• 22 May 2024 7:04 pm

  Gold retreats below $2,400 ahead of FOMC minutes

  

  The price of gold declines for the second day in a row due to a dismal interest-rate outlook and higher-than-expected expectations for interest rates. Fed’s Policymakers are hesitant to cut interest rates until they have made greater headway in combating inflation. Their opinions are shared by people all across the …

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• 22 May 2024 2:34 pm

  British Inflation Data Eases Pressure on Rate Cut Expectations

  

  Inflation in Britain saw a less-than-expected decline in April, with a key core measure showing resilience, prompting investors to reconsider their bets on a rate cut next month. This development could potentially bolster embattled Prime Minister Rishi Sunak ahead of anticipated elections later this year. Consumer prices rose by an …

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