Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 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 …

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• 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 …

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• 23 May 2024 8:37 pm

  Gold Faces Threat Below Major Trendline After US Data Release

  

  With the release of US Purchasing Manager Index (PMI) data, the XAU/USD Index is at a key juncture, threatening to fall below a significant trendline. According to the most recent figures, the US manufacturing and services sectors both experienced greater growth in May than anticipated. At the time of writing, …

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• 23 May 2024 7:47 pm

  US dollar continues to benefit from FOMC minutes

  

  The US dollar has been on the rise since the start of US trading on Thursday, fueled by signals from the Federal Reserve’s previous meeting. Additionally, weekly jobless claims continue to decline.The dollar index, which measures the performance of the US currency against major currencies, reached 104.97 points compared to …

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• 23 May 2024 6:25 pm

  Will US House’s FIT21 Bill boost cryptocurrencies?

  

  The FIT21 Bill is frequently cited by analysts as a critical step towards cryptocurrency regulation. A big bill that is presently passing the US House of Representatives is called the Financial Innovation and Technology for the 21st Century Act (FIT21). Why it matters is as follows:Regulatory Framework for Digital Assets:In …

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• 23 May 2024 2:55 pm

  U.S. Dollar Eases Slightly but Remains Near One-Week High Post-Fed Minutes

  

  The U.S. dollar handed back some of the previous session’s gains on Thursday but remained near a one-week high following the release of hawkish minutes from the last Federal Reserve meeting. The minutes suggested that U.S. interest rates could remain elevated for an extended period. As of 04:20 ET (08:20 …

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• 23 May 2024 12:45 pm

  Gold Prices Retreat Amid Rising Rate Concerns and Dollar Strength

  

  Gold prices experienced extended losses in Asian trade on Thursday, further retreating from recent record highs as renewed worries about high interest rates and diminished safe haven demand weighed on the yellow metal. Industrial Metals Follow Suit Industrial metals, including copper, also faced losses, with copper prices sharply declining from …

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• 23 May 2024 12:06 pm

  European Stocks Rise on Nvidia Forecast, Await Business Surveys

  

  European stocks edged higher on Thursday following upbeat forecasts from AI giant Nvidia, boosting global chipmakers. Investors awaited the latest business surveys to assess the euro zone economy’s outlook and interest rate trajectory. The pan-European STOXX 600 index rose 0.2%, with the tech index leading sectoral gains with a 1.2% …

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• 23 May 2024 11:24 am

  Asian Markets React to Policy Patience and Geopolitical Tensions

  

  Several Asian share benchmarks experienced declines on Thursday as investors grappled with the implications of policymakers adopting a patient approach to monetary easing amidst persistent inflationary pressures. Geopolitical tensions, particularly in the Taiwan Strait, added to market concerns. Market Movements Chinese blue chips and Hong Kong’s Hang Seng Index faced …

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• 23 May 2024 5:17 am

  How have financial markets reacted to latest FOMC minutes?

  

  On Wednesday, the Fed issued the minutes of its last meeting held on April 30 and May 1, which sheds light on monetary policy trends and overall economic conditions. The minutes also answer important questions related to the challenges facing financial markets in America and the world. Let’s have a …

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• 23 May 2024 12:24 am

  Nvidia’s Profit Soars, Underscoring Dominance in AI Chips

  

  Nvidia reported Q1 earnings, which were impressive, with net income rising more than sevenfold compared to the previous year. The company’s revenue also experienced remarkable growth, more than tripling from $7.19 billion to $26.04 billion during the same period. Analysts had high expectations, and NVIDIA exceeded them. Earnings per share …

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• 22 May 2024 11:38 pm

  GBP/USD slides after FOMC minutes, surprise UK election news

  

  The GBP/USD pair is easing back from Wednesday’s early gains after FOMC showing. UK PM Sunak calls for general election July 4 in a bid to hold power. A rate cut in June 2024 look less likely, the GBP/USD pair is pulling back from Wednesday’s early gains after the FOMC …

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• 22 May 2024 10:32 pm

  FOMC minutes support a probable rate cut in September

  

  Despite expressing disappointment over recent inflation readings, Federal Reserve officials at their last policy meeting indicated they still believed that price pressures would gradually ease. This sentiment was reflected in the minutes of the Fed’s April 30-May 1 session.Although the current policy response would “involve maintaining” the central bank’s benchmark …

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