Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 1 May 2024 1:53 pm

  USD Approaches Yearly Highs Following Strong Economic Data, While JPY Declines

  

  On Wednesday, the dollar edged closer to its highest level since November in anticipation of the Federal Reserve’s interest rate decision later in the day. This move followed Tuesday’s data indicating persistent inflationary pressures in the American economy. Meanwhile, the yen dropped to its lowest level since concerns emerged about …

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• 1 May 2024 12:35 pm

  Gold Prices Decline to Lowest Point in 4 Weeks

  

  Gold prices dipped on Wednesday to their lowest level in nearly four weeks as investors awaited the Federal Reserve’s decision, which could shed light on the timeline for interest rate cuts. In spot transactions, gold edged down 0.1 percent to $2,284.44 per ounce by 0436 GMT, marking its lowest level …

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• 1 May 2024 11:40 am

  Nikkei index closed lower as investors awaited the Fed’s decision

  

  Japan’s Nikkei index experienced a downturn on Wednesday as traders exercised caution ahead of the Federal Reserve’s monetary policy decision. Despite some recovery from early losses, the Nikkei concluded the day with a 0.3 percent decline, settling at 38,274.05 points. The broader Topix index also saw a 0.5 percent decrease, …

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• 1 May 2024 5:38 am

  AstraZeneca’s Fresh Drug Updates Counteract Vaccine Impact

  

  AstraZeneca is beating the odds this week. The COVID-19 vaccination is still controversial, but it doesn’t stop the company’s stock price rising. With the 1.3% increase today, the share price has recently surged over 8% within only five days, building on the enthusiasm from the strong Q1 results announced last …

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• 1 May 2024 5:09 am

  Market Drivers; US Session, April 30

  

  In the face of ongoing caution, the US dollar appreciated sharply ahead of Wednesday’s FOMC meeting. Weekly mortgage applications are due in the first turn on May 1. This is followed by the ISM Manufacturing PMI, the final S&P Global Manufacturing PMI, the ADP Employment Change, and construction spending. Ultimately, …

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• 1 May 2024 4:02 am

  Fed poised to keep rates unchanged despite expected rhetoric change

  

  Markets expect the Fed rate to remain unchanged at the end of the Federal Open Market Committee meeting today, Wednesday, May 1, as inflation data for early 2024 has raised concerns that the transition to a 2.00% annual inflation rate may take longer than previously expected.Markets are awaiting the Fed’s …

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• 1 May 2024 2:15 am

  Amazon Surges following Strong Q1 earnings amid challenges

  

  Beyond forecasts, Amazon’s performance during Q1 was a remarkable success, with continued dominance in both cloud computing and e-commerce. The path ahead is not free from challenges, though. To sustain development trajectory, Amazon needs to strategically manage issues including consumer spending patterns, address intensifying competition, and economic concerns. The massively …

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• 1 May 2024 1:15 am

  Gold price dips ahead of FOMC decision

  

  XAU/USD trades at $2,292, down by over 1.50% on Tuesday. The US Bureau of Labour Statistics reported a jump in the Employment Cost Index (ECI) for April, and American consumer sentiment deteriorated further. Gold prices dropped below the $2,300 threshold on Tuesday due to rising employment costs in the US, …

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April, 2024

• 30 April 2024 9:57 pm

  US dollar consolidates gains ahead of FOMC decision

  

  The US Dollar Index is currently trading higher at 105.95, with markets expecting a hawkish hold by the Federal Reserve (Fed) on Tuesday. The US economy is experiencing resilience and persistent inflation, making a case for a hawkish hold by the FOMC. Mid-tier data supports the dollar, with the Conference …

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• 30 April 2024 9:04 pm

  US dollar benefits from US employment data

  

  The US dollar continues to rise since the beginning of daily trading on Tuesday amid speculations concerning the looming Federal Reserve’s decision on the US interest rate as well as the recent US employment data in a trading week that is busy with key economic events.The US currency benefited from …

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• 30 April 2024 8:00 pm

  Canadian dollar declines on higher risk-off worries

  

  The Canadian GDP print came below forecast, further weakening the Canadian currency. US wage growth picks up speed once more, dash hopes for rate cuts. Tuesday saw a weakening of the Canadian currency relative to the US dollar following a risk-off surge in the US market session that followed above-average …

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• 30 April 2024 7:19 pm

  GBP/USD Retreats Ahead of FOMC Decision

  

  The GBP/USD pair declines 0.36% from its daily peak, under pressure from indications of rising US inflation. The pair struggles above the 200-day moving average at 1.2564, hinting at potential further declines.Support levels are seen at: November 14, 2023, high of 1.2506; breaching this could lead to further support tests …

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• 30 April 2024 3:43 pm

  German economy avoids recession in Q1

  

  Preliminary data from the Federal Statistical Office released on Tuesday indicated that the German economy narrowly avoided a recession at the outset of this year, experiencing slight but better-than-expected growth, propelled by exports and investments in the construction sector. In the first quarter, the economy saw a modest expansion, with …

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