Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2024

• 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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• 4 September 2024 4:01 am

  Market Drivers; US Session, September 3

  

  The US dollar has gained momentum, reaching two-week highs against a backdrop of weakening risk-linked assets. This surge follows an inconclusive price action on Monday due to the Labor Day holiday. Dollar Strengthens Amidst Rising Recession Fears The US Dollar Index (DXY) has advanced further, approaching the crucial 102.00 level. …

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• 4 September 2024 2:29 am

  BoC’s Looming Rate Decision Expectations

  

  The upcoming interest rate decision by the Bank of Canada is a highly awaited event that will significantly impact the Canadian economy. As the central bank prepares to announce its monetary policy stance, investors and analysts are closely watching for clues about the future direction of interest rates and their …

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• 4 September 2024 1:36 am

  What’s Behind Gold’s Recent Dizzying Decline?

  

  Gold traded below 2,500 per ounce on Tuesday, as the precious metal, which was formerly associated with stability and prosperity, has been steadily declining. Recent weeks have seen a sharp decline in gold prices, mostly due to the US dollar’s steadfast growth. In the financial markets, the inverse relationship between …

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• 3 September 2024 11:40 pm

  Dollar-Yen Faces Headwinds as US Treasury Yields Slide

  

  The dollar-yen pair has been under pressure in recent weeks, driven primarily by the decline in US Treasury yields. This inverse relationship between the two assets is a well-established dynamic in the global foreign exchange market, influenced by factors such as interest rate differentials and safe-haven demand. As US Treasury …

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• 3 September 2024 10:49 pm

  Solana Declines Amid Surging US Dollar

  

  Solana cryptocurrency has faced downward pressure due to a strengthening US dollar. The greenback has been buoyed by positive economic data released over the past week and anticipation of the highly anticipated monthly employment report, due out next Friday. The US dollar has been on an upward trajectory since the …

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• 3 September 2024 9:52 pm

  Stocks Market Meltdown: Economic Fears and Stock Market Collapse

  

  The stock market collapsed catastrophically at the beginning of September, with the Dow Jones Industrial Average dropping by an incredible 400 points. The main causes of this sharp decline were growing economic anxieties, which were made worse by shaky manufacturing data and generalized misgivings about the technology industry.The latest market …

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