Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 21 May 2024 1:31 am

  What’s Behind Bitcoin’s Recent Rally?

  

  Bitcoin price has rallied to the $70,000 mark, indicating a potential bull market. Analysts believe that the majority of on-chain indicators point to a nascent bull market, despite some showing topping patterns. The recent support bounce near $60,000 has sparked increased interest, with Farside Investors reporting approximately $950 million in …

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• 21 May 2024 12:59 am

  Canadian Dollar fluctuates ahead of BoC’s CPI

  

  The Canadian dollar is mostly higher but flat against its US counterpart again. Canada brings BoC CPI inflation to the table on Tuesday. The Canadian dollar was broadly higher on Monday before a moderating pullback halfway through the North American trading session. Momentum remains limited with Canadian markets shuttered for …

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• 20 May 2024 11:44 pm

  Market Drivers; US Session, May 20

  

  On Monday, the spotlight was on metals, particularly Gold and Copper. Both traded at record highs early in the day. However, they later retreated during a quiet European morning due to most local markets being closed for Whit Monday celebrations.During the American session, the macroeconomic calendar featured various Federal Reserve …

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• 20 May 2024 10:34 pm

  Nasdaq touches new record, Dow attempts to surpass 40,000

  

  US stocks have seen a surge as the Nasdaq Composite (NXIC) reached new intraday highs and the Dow Jones Industrial Average (DJI) fell below 40,000 after closing above the landmark level for the first time on Friday. The S&P 500 (GSPC) rose 0.3%, while the Dow wavered around the flatline …

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• 20 May 2024 9:07 pm

  Rate differential between Eurozone, Japan boosts EUR/JPY

  

  EUR/JPY continues to rise, up 0.23% at the time of writing, due to a wide interest-rate differential between the Eurozone and Japan, which favours the Euro over the Japanese Yen. The absence of direct intervention by Japanese authorities to strengthen the Yen in early May has led to the pair …

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• 20 May 2024 8:15 pm

  EUR/USD slides amid uncertainty over ECB rate cut

  

  Due to several tailwinds, the EUR/USD pair had earlier stayed stable near 1.0900 throughout Monday’s New York session. However, as of this writing, it had dropped to 1.0859. Because of the increased risk appetite of investors, the major currency pair is still in bullish zone. Although policymakers remain split on …

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• 20 May 2024 7:10 pm

  Officials still cautious on Fed’s policy after April inflation report

  

  Fed policymakers’ comments will be watched closely by investors this week. Markets see a waning probability of a Fed policy hold in September. Fed rate outlook could influence the risk mood and the US Dollar’s valuation.Fed policymakers are scheduled to deliver speeches this week as investors reassess the interest rate …

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• 20 May 2024 2:18 pm

  USD/JPY Analysis: Market Trends Indicate Potential Rally

  

  On Monday, market dynamics suggest a potential rally in the USD/JPY pair. Throughout May, the US dollar exhibited weakness, while risk sentiment strengthened due to expectations of monetary policy easing by the Federal Reserve. Despite this trend, markets are seeking a new catalyst, aside from economic data, to drive significant …

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• 20 May 2024 11:06 am

  Forex: Dollar Holds Steady as Investors Eye Fed Signals Amid Cooling Inflation

  

  The dollar remained broadly stable on Monday as investors awaited further indications from Federal Reserve officials to clarify the future path of U.S. interest rates. This anticipation follows a series of cautious statements from Fed officials, even as recent data points to cooling inflation. The Japanese yen started the week …

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• 20 May 2024 9:45 am

  Gold Prices Hit Record High Amid Middle East Tensions and Metal Market Rally

  

  Gold prices surged to a record high in Asian trade on Monday, driven by heightened geopolitical tensions in the Middle East and a broader rally across metal markets. The increased demand for safe haven assets reflected growing concerns over regional stability and potential escalation of conflicts. Spot gold climbed nearly …

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• 20 May 2024 9:18 am

  Asian Stocks Rise as Markets Cheer Chinese Stimulus and Tech Advances

  

  Most Asian stocks climbed on Monday, buoyed by stimulus measures from China and a robust performance in tech-heavy indexes as investors positioned themselves ahead of key earnings reports this week. Wall Street Influence and Fed Expectations Regional markets largely built on gains from last week, driven by softer U.S. inflation …

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• 20 May 2024 4:36 am

  Financial Markets Weekly Recap: Gold prices, US stocks surge amid rate speculations

  

  In the face of geopolitical events and macroeconomic variables, the financial scene is nevertheless dynamic. Wall Street’s risk appetite persisted despite high rates, as evidenced by the performance of the Dow Jones Index and gold. While Bitcoin saw brief fluctuations, oil prices stayed steady. The US Dollar Index had a …

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• 18 May 2024 12:31 am

  Walmart’s Strong Earnings and High-End Customer Base

  

  Walmart recently revealed first-quarter fiscal earnings that were higher than anticipated. During the quarter, Walmart saw an astounding 22% increase in internet sales. High-end consumers who resorted to internet shopping—households making over $100,000 annually—were a major factor in this growth. This particular customer category was drawn to Walmart due in …

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