Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 12 July 2024 8:18 pm

  Big Bank Stocks Dip Following Lower Than Expected Earnings

  

  The largest US bank stocks have been crushing the overall market, but investor disappointment with the results put a stop to the rally. Following its net interest income miss, Wells Fargo is expected to see its largest earnings-day decline in over three years. Even though Citigroup’s market revenue exceeded forecasts, …

  Read More »
• 12 July 2024 1:28 pm

  Tesla Pushes Back Robotaxi Launch to October for Design Refinements

  

  Tesla has postponed the launch of its highly anticipated robotaxi by approximately two months to October, according to a Bloomberg News report. This delay stems from a directive for the design team to rework certain elements of the vehicle. Following the news, Tesla’s shares experienced an 8% decline, closing at …

  Read More »
• 12 July 2024 1:04 pm

  Bitcoin’s Bear Trap: Is the Recent Price Plunge a Buying Opportunity?

  

  Bitcoin’s price has been on a downward spiral, hitting a four-month low as concerns mount over increased selling pressure from various sources, including Mt. Gox refunds and actions by the German government. However, some experts believe this might be a “bear trap,” luring investors into selling prematurely before a potential …

  Read More »
• 12 July 2024 12:21 pm

  Dollar Stabilizes Following CPI-Induced Slide, Yen Volatility Sparks Intervention Speculation

  

  The U.S. dollar found its footing on Friday after a sharp decline to a one-month low, triggered by softer-than-expected inflation data that fueled expectations of a September rate cut by the Federal Reserve. However, the broader foreign exchange markets remained cautious due to volatility in the Japanese yen, which strengthened …

  Read More »
• 12 July 2024 11:28 am

  Gold Prices Ease Slightly After Rallying on Rate Cut Expectations

  

  Gold prices experienced a minor dip in Asian trading on Friday, but still held strong gains from the previous session, bolstered by softer-than-expected U.S. inflation data that fueled expectations of a September interest rate cut. Gold’s Strong Performance: The yellow metal surpassed the significant $2,400 an ounce level on Thursday, …

  Read More »
• 12 July 2024 4:48 am

  Fed’s Goolsbee: CPI data indicate inflation on 2% path

  

  Federal Reserve Bank of Chicago President Austan Goolsbee on Friday marked the latest inflation report as “excellent.” Goolsbee further stated that the reports prove that the central bank is on track to meet its 2% target.The US Dollar Index (DXY) is trading unchanged on the day at 104.45, as of …

  Read More »
• 12 July 2024 3:54 am

  Japan’s Kanda: Recent Japanese Yen moves are somewhat rapid

  

  Japan’s top currency diplomat, Masato Kanda, who will instruct the BoJ to intervene, when he judges it necessary, said on Friday that the recent move of the Japanese Yen (JPY) is somewhat rapid and he will take appropriate measures on foreign exchange (FX) if needed. At the time of writing, …

  Read More »
• 12 July 2024 2:09 am

  Market Drivers; US Session: Focus on US Data, Potential Rate Cuts

  

  US Dollar Dives on Soft US Inflation: The US Dollar Index (DXY) plunged to multi-week lows around 104.00 after disappointing Consumer Price Index (CPI) data and falling US yields. This data fueled speculation of the Federal Reserve cutting interest rates as early as September, sending the Dollar tumbling. Today (July …

  Read More »
• 12 July 2024 1:38 am

  EUR/USD follows market-wide rally after US CPI

  

  The Euro strengthened against the US Dollar (USD) along with other currencies after US inflation data showed a slowdown. This pushed the EUR/USD pair to its highest level in five weeks. However, the gains weren’t sustained. The EUR/USD pulled back from its daily highs, suggesting a possible reversal and a …

  Read More »
• 12 July 2024 12:16 am

  Gold, BTC, GBP: Analytical Look on Week’s Performance, Future Outlook

  

  The financial markets have been wildly volatile this week, with notable swings in the price of gold, Bitcoin, and the British pound (GBP) caused by a variety of circumstances. Let’s examine the main forces at work in their performance and look forward.Dynamic Interplay The complex interplay among economic data, expectations …

  Read More »
• 11 July 2024 10:43 pm

  US bond yields decline on interest rate cut hopes

  

  US bond yields have continued to decline since the opening of trading on Wall Street, affected by the latest US inflation reading; the CPI data, that highlighted a continued decline in price growth in the United States last June.The data issued Thursday raised speculation that the Federal Reserve may seriously …

  Read More »
• 11 July 2024 9:51 pm

  Fed’s Musalem: CPI data points to encouraging further progress

  

  Federal Reserve Bank of St. Louis President Alberto Musalem noted on Thursday that while the disinflation process is ongoing, the Fed policymaker would like to see more progress and highlighted that recession risks remain low.Key QuotesHigh interest rates are pressuring parts of the economy.The disinflation process is ongoing.I see the …

  Read More »
• 11 July 2024 7:26 pm

  US inflation continues to retreat

  

  US inflation fell Thursday to levels below market expectations, according to data released by the US Bureau of Labour Census. The decline in inflation favors expectations of a rate cut, especially after Federal Reserve Chairman Jerome Powell’s testimony on economic conditions before the US Congress.The US consumer price index fell …

  Read More »