Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 1 July 2024 5:11 pm

  Bitcoin Price Rebounds Amidst Market Uncertainty and Mt. Gox Liquidation Concerns

  

  Bitcoin’s price saw a modest recovery on Monday, rising more than 2% to $62,838.9 by 08:59 ET. This rebound came amidst broader market uncertainty and concerns surrounding the impending distribution of stolen Bitcoin from the now-defunct exchange Mt. Gox. Mt. Gox Liquidation and Potential Selling Pressure The liquidators of Mt. …

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• 1 July 2024 12:24 pm

  Eurozone Manufacturing Sector Contracts Further in June as Demand Slumps

  

  The eurozone’s manufacturing sector experienced a deeper contraction in June, as demand plummeted despite factories continuing to lower prices, according to a recent survey. HCOB’s final eurozone manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, dropped to 45.8 in June from 47.3 in May, slightly exceeding the preliminary estimate …

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• 1 July 2024 10:33 am

  Gold Prices Wobble as Fed Signals and Mixed Economic Data Create Uncertainty

  

  Gold prices experienced a slight dip in Asian trading on Monday, hovering within a narrow range as traders cautiously await key signals from the Federal Reserve and further economic data. Despite increased expectations of a U.S. interest rate cut, the yellow metal struggled to capitalize on the weakening dollar, maintaining …

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• 1 July 2024 10:04 am

  Asian Stocks Waver as Chinese PMIs Clash and U.S. Rate Uncertainty Lingers

  

  Asian stocks experienced a mixed session on Monday, with most indices hovering within a flat-to-low range. Investors grappled with conflicting signals from Chinese business activity surveys and lingering uncertainty surrounding the future of U.S. interest rates. Key Takeaways: Mixed Chinese PMIs: Government data revealed a second consecutive month of contraction …

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• 1 July 2024 4:18 am

  Financial Markets’ Weekly Recap: Traders closely watch Fed’s signals

  

  In this report, we take a look back at the latest five trading days with a focus on the market news, economic data and headlines that had the most impact on key financial assets; including oil and gold prices as well as the key correlated assets. It is an opportunity …

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June, 2024

• 28 June 2024 7:35 pm

  US Dollar below 106.00 after PCE data

  

  The US dollar is preparing for French elections risk over the weekend, with early recovery thanks to recent statements by Trump and Suzuki. The PCE data is in line with expectations, with the index hovering around 106.00, back to Wednesday’s levels. Traders are still digesting the Trump-Biden debate, where many …

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• 28 June 2024 6:13 pm

  Nike stock declines following earnings report

  

  Nike shares declined in early Friday trading, setting up the stock for a loss of around $21 billion. The world’s biggest sportswear group issued gloomy near-term sales forecasts that could test investor patience for its ongoing turnaround strategy. Nike launched a $2 billion cost-cutting plan last year under CEO John …

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• 28 June 2024 5:05 pm

  May Inflation Cools, Raising Hopes for Fed Rate Cuts

  

  U.S. inflation eased in May, matching economists’ expectations and potentially bolstering the case for the Federal Reserve to implement interest rate cuts in 2024. The headline personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, remained flat month-over-month, a significant slowdown from April’s 0.3% increase. The annual rate …

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• 28 June 2024 4:24 pm

  Britain’s Economy Rebounds in Q1, But Long-Term Growth Woes Cloud Election Outlook

  

  Key Points: Stronger Rebound: Britain’s GDP grew by 0.7% in Q1 2024, exceeding initial estimates, signaling a faster recovery from the previous recession.Weak Long-Term Growth: Despite the rebound, GDP is only marginally higher than a year earlier, highlighting persistent challenges to sustained economic growth.Election Impact: The weak economic outlook is …

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• 28 June 2024 3:09 pm

  U.S. Stock Futures Rise, Capping Strong First Half, Ahead of Key Inflation Data

  

  U.S. stock index futures climbed on Friday, marking a robust first half of the year, as investors awaited the release of crucial inflation data that could influence the Federal Reserve’s interest rate decisions. Key Points: Market Performance: Dow Jones Futures rose 0.1%, S&P 500 Futures gained 0.4%, and Nasdaq 100 …

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• 28 June 2024 12:20 pm

  Gold Prices Tread Water Ahead of Crucial U.S. Inflation Data

  

  Gold prices experienced a slight dip in Asian trading on Friday, remaining within a tight range as traders favored the U.S. dollar in anticipation of key inflation data that could influence interest rates. Despite recovering from a dip below the $2,300 an ounce support level earlier in the week, gold …

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• 28 June 2024 10:30 am

  Oil Prices Climb on Supply Fears Despite U.S. Inventory Build, Strong Dollar

  

  Oil prices continued their upward trajectory in Asian trading on Friday, poised for substantial gains in June. This ascent was fueled by growing concerns over potential supply disruptions stemming from escalating geopolitical tensions in Russia and the Middle East, overshadowing fears of slowing demand despite a surprising increase in U.S. …

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• 28 June 2024 9:33 am

  Asian Stocks Shine in June, Buoyed by Fed Hopes and Tech Boom

  

  Asian markets concluded June on a high note, driven by optimism surrounding potential interest rate cuts by the Federal Reserve later this year due to a cooling U.S. economy. South Korea’s KOSPI index led the charge with an impressive 5.9% gain, boosted by the surging chipmaking sector and the growing …

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