Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2024

• 5 September 2024 2:44 am

  Market Drivers; US Session, September 4

  

  As markets anticipate a larger-than-expected rate cut by the Federal Reserve later this month, recent economic data suggests a slowdown in the US labor market, supporting the rate cut expectations. The Euro strengthened against the dollar as the US dollar’s value declined. Key economic indicators for the Eurozone, including factory …

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• 5 September 2024 1:46 am

  US equities face a downturn as September concerns materialize

  

  US stocks experienced a mixed session on Wednesday, with the S&P 500 and Nasdaq Composite slipping while the Dow Jones Industrial Average held steady. This comes amid ongoing concerns about economic growth and a sluggish start to September, a historically challenging month for markets.Nvidia’s recent market value plunge has reignited …

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• 5 September 2024 12:52 am

  USD/JPY Dives Deeper On Declining T-Yields

  

  The USD/JPY pair experienced a significant decline during the recent North American trading session, falling below the crucial 144.00 level, at 143.61 as of this writing This downward movement was primarily driven by a combination of factors, including weaker-than-expected US job market data, increased expectations of a potential interest rate …

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• 4 September 2024 11:39 pm

  XAU/USD Rises Following Weak US JOLTS Data

  

  Gold prices pushed higher during the North American session as the likelihood of a 50 basis point (bps) rate decrease by the Federal Reserve increased due to the US’s weaker-than-expected jobs statistics. In addition, the yield on US Treasury bonds decreased, which hurt the US dollar, which has an inverse …

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• 4 September 2024 10:58 pm

  Fed Beige Book: US Economy Shows Slowdown, But Hope Remains

  

  The Federal Reserve’s latest Beige Book paints a picture of a sluggish US economy. Released on Wednesday, the report found that economic activity stagnated or even declined in most regions. While job losses were uncommon, businesses are being cautious. Hiring slowed, with some companies opting for shorter shifts, leaving positions …

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• 4 September 2024 8:55 pm

  EUR/GBP Recovers As Technical Indicators Remain Cautious

  

  The EUR/GBP exchange rate has seen a rebound from its recent lows, with technical indicators suggesting a potential improvement. However, mixed signals from the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicate that the overall outlook remains neutral. The pair is likely to continue trading sideways in …

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• 4 September 2024 7:59 pm

  Job Openings Plummet to 3½-Year Low

  

  In a further indication of a weakening labor market, the U.S. Department of Labor reported on Wednesday that job openings declined to their lowest level in three and a half years. The closely watched Job Openings and Labor Turnover Survey (JOLTS) revealed that available positions fell to 7.67 million in …

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• 4 September 2024 6:45 pm

  BoC Governor Macklem: A 25 bps Rate Cut Was Appropriate

  

  Bank of Canada Governor Tiff Macklem held a press conference following the central bank’s third consecutive 25-basis point rate cut. Inflation may rise later in 2024, with potential for stronger-than-expected upward pressures. However, the overall weakness in the Canadian economy continues to drive inflation down. Recent data indicate some downside …

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• 4 September 2024 4:17 pm

  U.S. Oil Futures Rise Amid Hopes for OPEC+ Supply Limits Despite Demand Concerns

  

  U.S. oil futures edged higher on Wednesday, buoyed by expectations that OPEC+ may delay a planned output increase to support the market, which has been weighed down by concerns over sluggish demand growth. Oil Prices Climb As of 07:55 EST (11:55 GMT), West Texas Intermediate (WTI) crude oil futures rose …

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• 4 September 2024 2:27 pm

  Bitcoin Slips as U.S. Economic Data Fuels Concerns Over Potential Federal Reserve Rate Cut

  

  Bitcoin’s price declined on Wednesday as investors assessed the implications of weaker U.S. manufacturing data and anticipated key labor market reports that could influence the Federal Reserve’s upcoming interest rate decision. Investor sentiment was dampened by the latest results from the Institute for Supply Management (ISM), which showed a decline …

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• 4 September 2024 12:23 pm

  Germany’s Services Sector Growth Slows for Third Consecutive Month in August

  

  Germany’s services sector continued to lose momentum in August, marking the third consecutive month of slowing growth, according to a survey released on Wednesday. This trend adds to growing concerns about the overall health of Europe’s largest economy. The HCOB final services Purchasing Managers’ Index (PMI) dropped to 51.2 in …

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• 4 September 2024 11:56 am

  European Stocks Drop Amid U.S. Slowdown Fears and Euro Zone Economic Data

  

  European stocks opened sharply lower on Wednesday as concerns over a potential economic slowdown in the United States sent ripples through global markets. Investors also turned their focus to upcoming economic data from the euro zone, adding to the bearish sentiment. Market Overview By 07:10 GMT, the pan-European STOXX 600 …

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• 4 September 2024 11:15 am

  Oil Prices Extend Decline Amid Libya Dispute Resolution and Global Demand Concerns

  

  Oil prices continued their downward trend on Wednesday, extending the more than 4% drop seen in the previous session. The market remains under pressure, hovering at its lowest levels since December, driven by expectations of a potential resolution to the political dispute in Libya that has halted oil exports, along …

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