Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 8 October 2024 8:35 pm

  Easing supply concerns drag crude oil price back

  

  Oil prices slumped by more than 4% early on Tuesday as traders have yet to see an actual supply disruption in the Middle East while focusing on China’s underwhelming demand again.Both benchmarks, WTI Crude and Brent Crude, were down by about 3% as of 9:30 a.m. EDT on Tuesday. The …

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• 8 October 2024 7:25 pm

  China’s disappointing stimulus size drags gold lower

  

  The (XAU/USD) Index exchanges hands in the $2,620s on Tuesday as the yellow metal reaches the floor of its familiar $50 range of recent weeks.Disappointment at the limited extent of fiscal stimulus announced by China on Tuesday is a headwind for Gold, since China is the world’s largest consumer of …

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• 8 October 2024 3:12 pm

  European Stocks Fall Amid Weak Wall Street Lead and Middle East Concerns

  

  European stock markets retreated on Tuesday, following the lead of Wall Street as investors reassessed U.S. interest rate expectations and grappled with ongoing tensions in the Middle East and regional economic concerns. By 03:05 ET (07:05 GMT), Germany’s DAX fell 0.7%, France’s CAC 40 dropped 1.2%, and the FTSE 100 …

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• 8 October 2024 1:20 pm

  Dollar Eases from Seven-Week Highs as Rate Cut Outlook Shifts

  

  The U.S. dollar eased slightly on Tuesday from near seven-week highs against major currencies, as investors reassessed the outlook for U.S. interest rate cuts. Geopolitical tensions in the Middle East, however, continued to support the dollar’s appeal as a safe-haven asset. The euro gained 0.2%, trading at $1.0992, after reaching …

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• 8 October 2024 10:57 am

  Asian Markets Decline Amid U.S. Rate Concerns, China Surges on Stimulus

  

  Most Asian markets fell on Tuesday, following Wall Street’s overnight weakness, as a strong U.S. labor market reinforced expectations that interest rates will remain high. However, Chinese markets bucked the trend, rallying sharply as trade resumed post-holiday and investors responded to Beijing’s stimulus measures. China Outperforms as Stimulus Boosts ConfidenceChinese …

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• 8 October 2024 10:02 am

  Gold Prices Hold Steady as Traders Await Fed Signals, Copper Falls on China Stimulus Concerns

  

  Gold prices remained stable in Asian trading on Tuesday after retreating from record highs, as investors reassessed the likelihood of smaller interest rate cuts by the Federal Reserve. Meanwhile, copper prices dropped sharply as Chinese markets reopened following a week-long holiday, with disappointment over Beijing’s implementation of its stimulus measures …

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• 8 October 2024 2:15 am

  Market Drivers; US Session

  

  The US Dollar Index (DXY) traded mixed on Monday as investors continued to grapple with rising geopolitical tensions in the Middle East and the implications of Friday’s strong jobs report. Despite higher US yields, the DXY remained near recent peaks above 102.00.Key Economic Events for Tuesday, October 8:US: NFIB Business …

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• 8 October 2024 1:05 am

  DXY Seen Softer Ahead of FOMC Minutes

  

  The US Dollar Index, which measures the value of the USD against a basket of currencies, witnessed a calm Monday session with mild losses, holding steady despite elevated levels near last week’s highs. Amidst ongoing Middle East tensions, market participants await key events this week, including the release of the …

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• 8 October 2024 12:02 am

  Dow Jones Hit By Risk Aversion

  

  The Dow Jones Industrial Average (DJIA) shed around 500 points on a shaky market Monday, with risk appetite shriveling on the back of decreased rate cut expectations and tensions in the Middle East running on the hot side. Markets expect less than 50 bps in further rate cuts from the …

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• 7 October 2024 10:59 pm

  CAD dragged lower on risk aversion

  

  The Canadian Dollar (CAD) backslid into long-term averages against the US Dollar on Monday, with markets opening up the new trading week notably on the back foot. Investors pulled back into the safety of the Greenback, sending the Canadian Dollar skidding into three-week lows. Meaningful economic data from Canada remains …

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• 7 October 2024 10:20 pm

  Crypto investment hit record outflows amid Middle East tensions

  

  Bitcoin is trading around the $63,000 level on Monday as a CoinShares report reveals that crypto investment products recorded outflows totaling $147 million last week, breaking their three-week inflow streak.Crypto assets witness outflows stirred by negative flows in Bitcoin ETFsCrypto ETFs recorded outflows totaling $147 million last week, according to …

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• 7 October 2024 9:21 pm

  Will German Growth Make Use of Chinese Stimulus?

  

  For years, Chinese industrial orders helped create and support thousands of well-paid jobs in Germany. But the Asian giant’s economic slowdown has led to lower demand for German goods and dampened growth prospects.China has long been a key market for German industrial companies, especially in the automotive and machinery sectors.The …

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• 7 October 2024 7:46 pm

  Crypto investment records outflows of $147 million amid Middle East tension

  

  Digital asset investment products witnessed outflows totaling $147 million last week.Bitcoin ETFs were the center of focus, with $159 million in outflows after heightened Middle East war tension. Ethereum also saw outflows of $29 million, while Solana and multi-asset products recorded inflows.Bitcoin (BTC) is trading around the $63,000 level on …

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