Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 10 June 2024 9:36 pm

  Canadian Dollar flat against US counterpart head of US CPI, Fed decision

  

  On Monday, the Canadian dollar was largely unchanged vs the US dollar. This week, Canada is largely absent from the economic calendar. BoC Macklem’s speech is expected during the midweek trading session. As we begin a new trading week, the Canadian dollar is staying steady vs the US dollar because …

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• 10 June 2024 8:24 pm

  GBP/USD Consolidates After Hitting 7-Day Low

  

  GBP/USD slightly down for the second session in a row. Technical factors indicate losing buyer momentum as RSI approaches the 50-midline. A drop below 1.2700 could push GBP/USD towards key moving averages near 1.2686 and potentially lower.Upside seen above 1.2750, with buyers eyeing 1.2800.The British Pound extended its losses for …

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• 10 June 2024 7:32 pm

  Lagarde: ECB could wait several meetings between rate cuts

  

  ECB President Christine Lagarde stated that interest rates are not on a linear downwards path and that policymakers could wait more than one meeting before cutting them again. Markets now expect little more than one rate cut over the four remaining policy meetings this year and between 3 and 4 …

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• 10 June 2024 3:00 pm

  U.S. Stock Futures Dip Ahead of Fed Meeting and Key Inflation Data

  

  U.S. stock index futures retreated on Monday, June 10th, relinquishing some of the previous week’s strong gains as investors braced for the upcoming Federal Reserve meeting and the release of crucial inflation data. Market Overview Dow Jones Futures: Down 0.2%S&P 500 Futures: Down 2.1%Nasdaq 100 Futures: Down 0.1% The main …

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• 10 June 2024 1:18 pm

  Oil Prices Inch Up on Summer Demand Hopes, Yet Dollar Strength Limits Gains

  

  Oil prices saw a slight increase on Monday, June 10th, driven by optimism surrounding a potential surge in fuel demand during the upcoming summer months. However, the gains were tempered by a strengthening dollar, fueled by diminishing expectations of immediate U.S. interest rate cuts. Analyst Projections and Market Sentiment Goldman …

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• 10 June 2024 12:10 pm

  European Stocks Tumble as Election Results and Fed Meeting Loom

  

  European stock markets took a significant hit on Monday, June 10th, as investors reacted to the results of the European Parliament elections, which saw gains for nationalist and euro-skeptic parties. This surge in the right is expected to lead to a more polarized European Parliament, potentially hindering the passage of …

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• 10 June 2024 11:15 am

  Gold Prices Stagnate Amidst Fed Rate Hike Fears, Dollar Strengthens

  

  Gold prices remained largely flat in Asian trading on Monday, reeling from last week’s losses as concerns about high U.S. interest rates intensified ahead of a Federal Reserve meeting and crucial inflation data this week. The precious metal retreated from near-record highs following Friday’s stronger-than-expected nonfarm payrolls report, prompting traders …

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• 10 June 2024 6:04 am

  Financial Markets’ Weekly Recap: Fed Policy, Market Sentiment, Jobs Data

  

  The financial markets displayed a mixed performance this past week, as investors navigated a confluence of economic data, central bank policy updates, and ongoing geopolitical tensions. While some sectors thrived, others took a backseat, reflecting the underlying uncertainty about the future trajectory of the global economy. Equity Markets Take a …

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• 8 June 2024 1:08 am

  EUR/USD trims week’s earlier gains

  

  Surprisingly, the US NFP numbers were far higher than anticipated. It is improbable that an additional rate decrease will follow the ECB rate cut. The European Central Bank (ECB) President Christine Lagarde issued a warning that a follow-up rate drop to June’s quarter-point rate trim may not be in the …

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• 7 June 2024 11:47 pm

  USD/CHF gains amid stronger US jobs report

  

  The USD/CHF pair bounced back on Friday during the North American session, reaching as high as 0.8965 at the time of writing thanks to the US’s better-than-expected Nonfarm Payroll statistics. The yield on US Treasuries rose as the likelihood of a September Fed cut decreased. Following the announcement of revised …

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• 7 June 2024 10:39 pm

  US stocks waver after jobs report smashes expectations

  

  The US stock market had a wild session on Friday, falling at first as the Federal Reserve’s intentions to lower interest rates this year were called into question by a better-than-expected jobs report. Investors had been waiting for news that would suggest the economy was slowing down and would result …

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• 7 June 2024 8:58 pm

  US Dollar Soars After Stronger NFP, Wage Inflation Data

  

  USD maintains its momentum, rising by more than 0.70% on Friday. US Nonfarm Payrolls exceeded market expectations in May, showing a robust recovery in the labor market. September odds fall for a Fed rate cut as positive economic signals abound.On Friday, the US Dollar Index (DXY) expanded its winning streak …

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• 7 June 2024 7:10 pm

  Surprise NFP data could boost USD, US Shares, Gold

  

  Nonfarm Payrolls smashed estimates with 272K in May, way above 185K expected and the 120-235K range. Moreover, wages beat with 0.4% vs 0.3% MoM and 4.1% vs. 3.9% YoY. The only disappointment was the symbolic increase of the unemployment rate to 4%, but that was fully overshadowed by the other …

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