Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 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 …

  Read More »
• 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%. …

  Read More »
• 24 May 2024 9:21 pm

  Forex Investors Focus on PCE, Statements by Fed Officials

  

  The improved sentiment in the dollar came in line with hawkish FOMC Minutes and another set of positive results from US fundamentals, all reinforcing the Fed’s tighter-for-longer narrative ahead of key PCE data and more statements by Fed officials.Despite Friday’s pullback, the dollar managed to reverse recent weakness and closed …

  Read More »
• 24 May 2024 8:16 pm

  Policymaker: ECB’s first rate cut can be in June, second in September

  

  Bundesbank President Joachim Nagel has advised the European Central Bank (ECB) to exercise caution in its interest rate decisions. He suggests that the ECB should wait until September for any subsequent rate cuts after implementing a reduction in borrowing costs in June. This warning comes ahead of a crucial meeting …

  Read More »
• 24 May 2024 7:01 pm

  G7 warns of China’s trade war risks

  

  European finance ministers from the Group of Seven major industrialized nations on Friday called on their countries to line up and adopt a unified stance in the face of China’s “unfair” industrial policies and also warned of the risks of a trade war in the wake of US sanctions and …

  Read More »
• 24 May 2024 12:45 pm

  Oil Prices Stabilize Amid Fed Comments and U.S. Fuel Demand

  

  Oil prices held steady on Friday as investors weighed the latest remarks from the U.S. Federal Reserve regarding interest rates amid persistent inflation, while signs of robust seasonal U.S. fuel demand provided support. Brent crude futures edged up 5 cents to $81.41 a barrel by 0640 GMT, while U.S. West …

  Read More »
• 24 May 2024 11:47 am

  European Stock Markets Dip Amid Interest Rate Concerns

  

  European stock markets declined on Friday, mirroring the global negative sentiment driven by worries over sustained high interest rates and their potential impact on economic activity. Market Performance At 03:10 ET (07:10 GMT), the DAX index in Germany traded 0.9% lower, the CAC 40 in France fell 0.6%, and the …

  Read More »
• 24 May 2024 10:25 am

  Gold Steadies Amid Rate Jitters; Copper Stabilizes After Record Highs

  

  Gold Prices Steady in Asian Trade Gold prices steadied in Asian trade on Friday, but the yellow metal was nursing steep weekly declines due to persistent concerns over prolonged high U.S. interest rates. Spot gold rose 0.2% to $2,332.77 an ounce, while gold futures for June delivery fell 0.1% to …

  Read More »
• 24 May 2024 9:17 am

  Asian Markets Tumble Amid U.S. Inflation Concerns and Escalating Middle East Tensions

  

  On Friday, most Asian stock markets declined, mirroring the negative sentiment from Wall Street as persistent concerns over U.S. inflation and high interest rates dampened investor appetite for riskier assets. Chinese Markets: Shanghai Shenzhen CSI 300: Fell 0.4%Shanghai Composite: Declined 0.2%Hang Seng Index: Dropped 1.5% Chinese markets continued their downward …

  Read More »
• 24 May 2024 4:02 am

  US stocks decline following US data, FOMC minutes

  

  US stocks are under pressure to decline as a result of the negative mood that pervaded the markets on Thursday after the most recent US data releases and the ongoing effects of the FOMC minutes from Wednesday, which included a strong recommendation for the central bank to keep raising interest …

  Read More »
• 24 May 2024 1:55 am

  Market Drivers; US Session, May 22

  

  The US Dollar (USD) surged to multi-day highs due to reduced expectations of a rate cut in September, positive data from US business activity in May, and a hawkish stance from the Federal Open Market Committee (FOMC).Currency Pairs: EUR/USD: Experienced its fourth consecutive session of losses, testing the 1.0800 support. …

  Read More »
• 23 May 2024 11:59 pm

  Oil prices decline for fourth session ahead of busy travel plans

  

  Thursday marked the fourth straight session of declines in crude oil prices ahead of the hectic Memorial Day weekend travel period. This week, U.S. crude oil has dropped 3%, while the global standard, Brent, has dropped almost 4%.WTI’s July contract price is $76.87 per barrel, a decrease of 70 cents …

  Read More »
• 23 May 2024 10:09 pm

  Dow accelerates loss on diminishing rate cut hopes

  

  The Dow Jones Index retreated on Thursday, losing -527 points and tumbling below 39,150.00 as investors pulled back in the face of declining hopes for a September interest rate cut from the Fed.On the US data front; S&P Global Services Purchasing Managers Index (PMI) rose to a 12-month high of …

  Read More »