Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 13 June 2024 7:03 pm

  Producer inflation data drags Dow Jones lower

  

  The Dow Jones Industrial Average tumbled another 150-plus points on Thursday after US data hinted at a further contraction of the overall economy, briefly sparking risk-off bids into the US dollar and forcing Treasury yields lower alongside equity indexes. The Dow Jones backslides over 150 points on Thursday. Treasury yields …

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• 13 June 2024 4:56 pm

  U.S. Jobless Claims Rise Unexpectedly, Signaling Cooling Labor Market

  

  The number of Americans filing for initial unemployment benefits unexpectedly rose last week, indicating a potential slowdown in the labor market’s momentum. Initial jobless claims reached 242,000 for the week ending June 8th, surpassing the consensus forecast of 225,000 and exceeding the previous week’s total of 229,000. The four-week moving …

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• 13 June 2024 1:29 pm

  Oil Prices Dip as Fed Delays Rate Cut and Supply Concerns Linger

  

  Oil prices experienced a slight decline in early Thursday trading, reacting to the U.S. Federal Reserve’s decision to postpone interest rate cuts and growing concerns over ample U.S. crude and fuel stocks. Brent crude futures dipped 0.5% to $82.23 per barrel, while U.S. West Texas Intermediate (WTI) crude futures fell …

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• 13 June 2024 12:36 pm

  Dollar Dips as Traders Weigh Fed’s Hawkish Tone Against Benign Inflation

  

  The U.S. dollar retreated on Thursday, as market participants wrestled with the contrasting signals of subdued U.S. inflation and a more hawkish stance from the Federal Reserve. The Dollar Index, measuring the greenback against a basket of major currencies, dipped 0.3% to 104.340, easing from its recent mid-May peak. This …

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• 13 June 2024 11:39 am

  Europe’s Stock Markets Stumble: Hawkish Fed Casts Shadow on Global Monetary Policy

  

  European stock markets took a hit on Thursday as the aftershocks of the U.S. Federal Reserve’s hawkish stance sent ripples across the financial landscape. Investors were left to grapple with the prospect of fewer U.S. rate cuts than anticipated, casting a shadow over global monetary policy easing. At the heart …

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• 13 June 2024 5:58 am

  USD/JPY climbs cautiously ahead of BoJ meeting

  

  On early Thursday, dollar bulls tested the USD/JPY market, but their excitement quickly faded. This cautious attitude reflects the nervousness of investors as they anxiously await the Bank of Japan’s policy announcement. The US Federal Reserve’s hawkish turn eclipsed the less-than-expected US inflation numbers, giving the dollar a little boost.Due …

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• 13 June 2024 5:39 am

  Market Drivers; US Session, June 12

  

  Recent economic news and headlines have been dominated by data and concerns related to US inflation. The negative surprise of the US CPI in May caused the US dollar to rapidly revert its recent positive trend, although the hawkish stance taken by the Federal Reserve helped the USD Index (DXY) …

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• 13 June 2024 4:59 am

  Fed does not rule out two rate cuts in 2024

  

  Fed Chairman Jerome Powell noted that the revised forecast is a conservative approach and left open the possibility of additional rate reduction. Federal Reserve officials released a startling change to their estimates for the number of interest rate cuts this year.Following the two-day monetary policy meeting in Washington on Wednesday, …

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• 13 June 2024 2:04 am

  Dollar struggles to trim losses after Powell’s press conference

  

  Following the Federal Open Market Committee’s (FOMC) modification of its interest rate estimates, which were more hawkish than anticipated, the US Dollar Index observed an upward trend on Wednesday. After the Consumer Price Index (CPI) fell to a low of 104.30 in May due to lower-than-expected data, the dollar recovered …

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• 13 June 2024 12:27 am

  US Stocks Close With Gains After CPI, FOMC Decision

  

  The S&P 500 and Nasdaq reached record closing highs for a third consecutive day on Wednesday, following softer inflation data. However, the indexes ended off the day’s highs as the Federal Reserve projected only one interest rate cut this year. Fed’s March projections included three quarter-percentage-point reductions. Stocks were choppy …

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• 12 June 2024 11:37 pm

  Oil Prices Rise, Then Fall Back on Fed Rate Cut Comments

  

  On Wednesday, WTI started to rise and peaked at about $79 per barrel. This came after May’s consumer price increases were less rapid than anticipated, according to positive inflation data. This raised expectations that the Federal Reserve (Fed) will lower interest rates in September.Those expectations were short-lived, though, as Fed …

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• 12 June 2024 10:06 pm

  Fed leaves policy rate unchanged at 5.25%-5.5% as expected

  

  The US Federal Reserve (Fed) announced on Wednesday that it left the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% following the June policy meeting. This decision came in line with the market expectation. Fed will release the revised Summary of Economic Projections (SEP), the so-called dot …

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• 12 June 2024 8:07 pm

  Fed cools Gold, stocks, buoys US Dollar

  

  The Federal Reserve is split on the path for rates, and this uncertainty cools the enthusiasm after the soft CPI which triggered a big rally. Interest rates have a critical role in moving financial markets, and the US Federal Reserve (Fed) is the most influential central bank. The Fed announces …

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