Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 20 August 2024 7:23 pm

  GBP/USD Surges Towards July Highs Amid Bullish Momentum

  

  GBP/USD’s bullish run shows no signs of abating. The pair continued its upward trajectory on Tuesday, gaining 0.32% to reach 1.3030, inching closer to mid-July highs. This sustained upward momentum is evident in the recent trading sessions. The next hurdle for GBP/USD lies at 1.3100. If the pair can break …

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• 20 August 2024 6:47 pm

  Analyzing Goldman Sachs’ Revised US Recession Outlook

  

  Goldman Sachs, a leading investment bank, has recently revised its forecast for a U.S. recession, decreasing the probability to 20%. This adjustment follows a brief uptick in the likelihood after a weaker-than-expected July jobs report. However, subsequent economic indicators, including retail sales and jobless claims, have mitigated concerns about an …

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• 20 August 2024 1:41 pm

  U.S. Dollar Slips to Near Seven-Month Lows Amid Rate Cut Speculation

  

  The U.S. dollar continued its downward trend on Tuesday, edging closer to seven-month lows as growing expectations of a Federal Reserve interest rate cut in September weighed on the currency. As of 04:00 ET (09:00 GMT), the Dollar Index, which measures the greenback against a basket of six major currencies, …

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• 20 August 2024 12:30 pm

  European Shares Steady Ahead of Key Data, Energy Stocks Lead Declines

  

  European shares were mostly flat on Tuesday as investors held back from making significant bets ahead of crucial euro zone data. The pan-European STOXX 600 index remained stable at 514.87 points as of 0710 GMT, after reaching a three-week high in the previous session. Sector Highlights: Energy Stocks Fall: The …

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• 20 August 2024 11:24 am

  Bitcoin Rises as Fed Rate Cut Bets Fuel Broader Market Gains

  

  Bitcoin surged on Tuesday, rising 4.5% to $61,176.1 by 01:29 ET (05:29 GMT), as optimism about potential interest rate cuts by the Federal Reserve bolstered risk-driven markets. This growth mirrors broader market gains, reflecting increased investor confidence that the Fed may reduce rates in September. Key Factors Driving Bitcoin’s Rise: …

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• 20 August 2024 10:47 am

  Oil Prices Decline as Israel Accepts Proposal to Resolve Ceasefire Disagreements

  

  Oil prices fell on Tuesday as Israel accepted a proposal to address disagreements that were hindering a ceasefire deal in Gaza, reducing concerns over potential supply disruptions in the Middle East. By 0600 GMT, Brent crude dropped 67 cents, or 0.86%, to $76.99 per barrel. U.S. West Texas Intermediate (WTI) …

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• 20 August 2024 10:00 am

  Gold Prices Ease Slightly, Remain Near Record Highs on Fed Rate Cut Speculation

  

  Gold prices dipped slightly in Asian trading on Tuesday but remained close to their record highs as traders increasingly believe that the Federal Reserve will begin cutting interest rates in September, leading to a weaker dollar. Spot gold edged down 0.1% to $2,501.06 an ounce, while December gold futures also …

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• 20 August 2024 3:09 am

  Market Drivers; US Session, August 19

  

  Selling pressure on the US Dollar persisted as investor risk appetite strengthened ahead of crucial economic events. The release of the FOMC minutes and Federal Reserve Chair Powell’s speech at Jackson Hole loomed large.The USD Index plunged to its lowest point in several months, nearing 101.80, as positive sentiment dominated …

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• 20 August 2024 1:54 am

  Is Bitcoin Encountering Consolidation or Collapse?

  

  Bitcoin’s recent price behavior has ignited a fervent debate among investors and analysts. After a brief flirtation with the $60,000 level, the world’s largest cryptocurrency has retreated, leaving market participants grappling with uncertainty. Is this a temporary consolidation phase, or a harbinger of a more protracted downturn?The Macroeconomic UndercurrentTo fully …

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• 20 August 2024 12:58 am

  Canadian Dollar Finds Limited Support Amid Inflation Data, Rate Cut Expectations

  

  The Canadian Dollar exhibited a mixed performance on Monday, appreciating against its US counterpart while depreciating against other major currencies. This divergence comes as investors await crucial economic data releases and navigate a complex interest rate environment.Canada is poised to unveil its latest Consumer Price Index (CPI) figures on Tuesday, …

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• 19 August 2024 11:54 pm

  Dow Jones continues to climb

  

  On Monday, the Dow Jones Industrial Average increased by more than 150 points. As market sentiment rises, stocks are gaining ground. Fears of a recession have subsided in the wake of positive US data.As US market indices often gain ground, the Dow Jones Industrial Average (DJIA) increased by more than …

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• 19 August 2024 10:26 pm

  EUR/USD Surges on Dovish Fed Outlook, Softer Dollar

  

  Despite trading 1.1084, at the time of writing, the EUR/USD currency pair climbed higher on Monday, reaching levels near 1.1030, driven by growing expectations of a potential interest rate cut by the Federal Reserve as early as September.Recent economic data in the United States has painted a mixed picture. While …

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• 19 August 2024 9:24 pm

  The China Hangover: A Global Economic Headache

  

  China’s rapid ascent from a developing nation to a global economic powerhouse in the early 21st century was nothing short of astonishing. Fueled by massive investments and a seemingly insatiable appetite for commodities, the country became the world’s factory and a key driver of global growth. This era witnessed a …

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