Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 29 July 2024 8:47 pm

  GBP/USD Slides ahead BoE’s decision

  

  GBP/USD retreats 1.70% from its year-to-date high of 1.3043, trading at 1.2826. Technical outlook shows bearish momentum, with key support at 1.2800 and potential further losses to 1.2612-1.2622 area. Buyers need to push past 1.2893 to challenge 1.2900 and higher resistance levels.The GBP/USD begins the week on the back foot …

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• 29 July 2024 7:43 pm

  Dallas Fed Manufacturing Index Misses Expectations

  

  The Federal Reserve Bank of Dallas released Dallas Fed Manufacturing Index report. The report indicated that Dallas Fed Manufacturing Index declined from -15.1 in June to -17.5, compared to analyst forecast of -12.Production Index declined from 0.7 in June to -1.3 in July, while New Orders Index decreased from -1.3 …

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• 29 July 2024 12:57 pm

  European Shares Rise as Oil Sector Gains on Middle East Tensions and Positive Earnings Reports

  

  European stock markets opened the week on a positive note, driven by gains in the oil sector amid concerns of a potential escalation in the Middle East and supported by a series of encouraging corporate earnings. Market OverviewThe pan-European STOXX 600 index rose 0.4% by 0713 GMT on Monday, continuing …

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• 29 July 2024 11:20 am

  Oil Prices Rise Amid Middle East Tensions and Market Uncertainties

  

  Oil prices rose on Monday, recovering some of the losses from the previous week, due to concerns about a potential escalation in the Middle East following a rocket strike in the Israeli-occupied Golan Heights. This strike, which Israel and the United States attributed to the Lebanese armed group Hezbollah, resulted …

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• 29 July 2024 10:38 am

  Yen Edges Higher Amid Safe Haven Demand and Policy Speculation

  

  The Japanese yen edged higher on Monday, recovering from early losses as sentiment remained fragile following a significant rally last week. This rally was driven by a tech-led stock rout in the U.S., which increased demand for safe haven assets like the yen. Market Focus on Upcoming Policy Decisions Traders …

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• 29 July 2024 9:42 am

  Gold Prices Rise in Asian Trade, Buoyed by Fed Rate Cut Expectations

  

  Gold prices climbed in Asian trade on Monday, regaining some of the ground lost throughout most of July. This recovery is largely attributed to growing expectations of interest rate cuts by the Federal Reserve, as well as a weaker dollar following recent U.S. inflation data. Spot and Futures Prices Spot …

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• 29 July 2024 1:08 am

  Weekly Recap: US dollar remains stagnant amid significant economic, political, and geopolitical changes

  

  Several factors dominated market activity throughout last week, including economic data, developments in the US political landscape ahead of the 2024 presidential election, escalating geopolitical tensions in the Middle East amid the ongoing war in Gaza, and updates on the monetary policies of central banks in major economies. Economic Data …

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• 27 July 2024 1:48 am

  OPEC Under Pressure Due To Falling Oil Prices

  

  In the days leading up to the important OPEC meeting on August 1, oil prices are collapsing. The drop this week, which was caused by worries over China’s slowing consumption, puts the oil cartel in a risky position as it navigates a volatile market. At the time of writing WTI …

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• 27 July 2024 1:25 am

  Canada’s Corporate Earnings Reveal National Economy’s Pulse

  

  Canada’s corporate earnings season is set to kick off with a bang, as key players from diverse sectors prepare to unveil their financial performance. From the energy giants Topaz Energy and Gibson Energy to the consumer-focused Tilray Brands, the week of July 29th promises a wealth of data that will …

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• 26 July 2024 8:59 pm

  Gold surges on sliding T-yields after US data

  

  Gold prices surged 1.01% on Friday, supported by lower US Treasury yields amid growing optimism for an interest rate cut by the Fed in September after data showed US prices rose modestly in June.Spot gold was up about 1.01% to $2,389.71 per ounce, after hitting its lowest since July 9 …

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• 26 July 2024 7:02 pm

  US Dollar Index edges lower following US PCE Inflation

  

  As stable US core PCE inflation growth seems insufficient to affect firm Fed rate-cut expectations, the US dollar declines. It is largely expected that the Fed will hold interest rates steady the following week. The confidence of Fed policymakers on the return of inflation to a 2% path has increased. …

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• 26 July 2024 1:03 pm

  European Shares Flat, Poised for Modest Weekly Loss Amid Mixed Earnings

  

  European stocks exhibited a flat performance on Friday, reflecting a lack of clear direction as investors digested a diverse range of corporate earnings reports. The pan-European STOXX 600 index remained steady at 508.9 points by 0710 GMT, heading towards its second consecutive week of losses after hitting a two-month low …

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• 26 July 2024 12:32 pm

  Oil Prices Edge Up, Still Set for Third Consecutive Weekly Decline

  

  Oil prices saw a slight uptick on Friday but remained on course for a third consecutive week of declines, influenced by weak demand from China and evolving geopolitical developments in the Middle East. Marginal Gains on Friday Brent crude futures for September inched up by 12 cents, or 0.2%, to …

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