Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 29 May 2024 1:11 am

  Gold rises sharply despite Fed’s hawkishness

  

  Despite pressure from high US Treasury yields, gold gains more than 0.30%. Governor Michelle Bowman and other Fed officials’ pessimistic comments restrain Gold’s ascent. The release of US core PCE inflation data is of interest to traders of XAU/USD. Late in the North American session, the price of gold saw …

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• 28 May 2024 11:52 pm

  IMF Raises China’s Economic Growth Target to 5% in 2024

  

  China’s 2024 economic growth target was raised by the International Monetary Fund from 4.6% to 5%. This upward revision is a result of China’s efforts to support its real estate sector and follows a robust first quarter performance1. Key Quotes, Insights Robust Q1: China’s proactive efforts to boost its real …

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• 28 May 2024 9:25 pm

  Canadian dollar weakened amid light data releases

  

  US markets return after a long weekend, with Fedspeak dominating headlines. The Canadian Dollar is softer on Tuesday, reflecting some gains from the start of the trading week. The Canadian Dollar is softer as investors await the US Gross Domestic Product (GDP) and Personal Consumption Expenditure (PCE) inflation due on …

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• 28 May 2024 8:48 pm

  US dollar finds no significant catalysts ahead of key GDP, PCE data

  

  The strong Consumer Confidence and Housing sector data was not enough to trigger big movements in the US dollar. Next highlight will be Wednesday’s Fed’s Beige Book report where markets will get a clearer outlook on the US economy’s health.PCE and GDP revisions are the week’s highlights. The US Dollar …

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• 28 May 2024 7:14 pm

  Fed’s Kashkari does not rule out interest rate hikes

  

  Speaking before the Barclays-CEPR International Monetary Policy Forum, Federal Reserve Bank of Minneapolis President Neel Kashkari said the US central bank’s policy stance is restrictive, but policymakers haven’t entirely ruled out additional interest-rate increases.“I don’t think anybody has totally taken rate increases off the table,” Kashkari said Tuesday at an …

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• 28 May 2024 3:07 pm

  U.S. Stock Market Embraces Faster Settlement, But Initial Challenges Loom

  

  The U.S. stock market is transitioning to a shorter settlement cycle on Tuesday, a move regulators hope will reduce risk and enhance efficiency in the world’s largest financial market. However, this shift is expected to temporarily increase transaction failures for investors as they adapt to the accelerated timeline. Under the …

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• 28 May 2024 12:41 pm

  Dollar Dips Amid Risk Sentiment, Awaits Inflation Data

  

  The U.S. dollar experienced a slight dip in early European trading on Tuesday, attributed to a minor uptick in risk sentiment. However, trading ranges remained narrow as investors eagerly awaited the release of crucial inflation data. As of 04:25 ET (08:25 GMT), the Dollar Index, which measures the greenback against …

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• 28 May 2024 11:50 am

  European Stocks Mixed as Investors Await Inflation Cues

  

  European stock markets displayed a mixed performance on Tuesday, with the return of U.K. markets after a holiday break. Investors eagerly anticipated key inflation data from both Europe and the United States, seeking insights into the future direction of monetary policy. Early in the trading day, Germany’s DAX index edged …

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• 28 May 2024 11:04 am

  Gold Stabilizes as Inflation Data Takes Center Stage

  

  Gold prices found their footing in Asian markets on Tuesday, buoyed by a slightly weaker dollar. Traders were on edge, awaiting a series of crucial inflation readings this week, particularly the U.S. Personal Consumption Expenditures (PCE) index. The precious metal managed to recover some of its losses from the previous …

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• 28 May 2024 5:14 am

  Market Drivers – US Session, May 28

  

  Bitcoin closed on an upward trajectory, driven by news of collaboration between Argentina’s Securities and Exchange Commission and El Salvador. The two countries are exploring further adoption of cryptocurrencies. BTC’s global spread closed at $69,528 per unit, slightly higher than the previous day’s closing price of $68,489. However, the larger-cap …

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• 28 May 2024 4:50 am

  3 Drivers Behind Euro’s Uptrend

  

  The euro closed Monday’s trading higher rise, driven by an improvement in risk appetite cross financial markets, fresh German economic data, in addition to some other factors related to monetary policy. Wall Street has seen intensive stock buying since the beginning of morning trading in the markets on the first …

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• 28 May 2024 1:57 am

  Pound Sterling consolidates its uptrend as fresh catalysts awaited

  

  Early on Tuesday’s the Asian session, the GBP/USD pair is trading slightly in the green near 1.2770. In response to the Fed’s hawkish remarks and the positive US statistics, traders reduce their bets on interest rate reductions by the Fed. The GBP could rise if the BoE decides to hold …

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• 28 May 2024 12:51 am

  EU and US Stocks Close Higher on Rate Outlook, Dollar’s Decline

  

  In sparse trading, European stocks rose after an ECB official hinted that rate reduction could be considered gradually beginning next month. With US markets closed, Nasdaq 100 futures increased 0.4% to a record high. A little increase was led by automakers and utilities in the Stoxx Europe 600 index. Due …

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