Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 15 May 2024 2:28 pm

  Oil Prices Rise on Weakening Dollar, Inventory Declines, and Inflation Outlook

  

  Boosted by Multiple FactorsOil prices climbed on Wednesday, propelled by a combination of factors including a weakening U.S. dollar, inventory declines, and optimistic inflation data. Brent crude futures surged by 0.5% to reach $82.77 a barrel, while U.S. West Texas Intermediate crude futures (WTI) also rose by 0.5% to $78.44 …

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• 15 May 2024 2:26 pm

  European Stocks Hit Record High on Upbeat Earnings, Await U.S. Inflation Data

  

  Record High for European StocksEurope’s benchmark index surged to a record high on Wednesday, propelled by optimistic earnings reports in the industrial and healthcare sectors. The pan-European STOXX 600 climbed 0.4%, building on its previous record close. Earnings BoostShares of credit data firm Experian soared 7.8% after announcing an optimistic …

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• 15 May 2024 11:54 am

  Bitcoin Falls Amidst Dollar Weakness and Regulatory Concerns, Altcoins Extend Losses Ahead of U.S. CPI Data

  

  Bitcoin’s DownturnBitcoin experienced a slight decline on Wednesday, failing to capitalize on a weakened dollar as traders adopted a cautious stance ahead of key U.S. consumer inflation data. The world’s largest cryptocurrency dipped by 0.9% to $61,974.9, signaling subdued market sentiment. Fed’s Cautionary RemarksBitcoin’s lackluster performance persisted despite the dollar’s …

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• 15 May 2024 10:32 am

  Gold Steadies, Copper Hits Two-Year Highs as Markets Brace for U.S. Inflation Data

  

  Gold’s Resilience:Gold prices stabilized in Asian trading on Wednesday, benefiting from a weaker dollar as investors awaited key U.S. consumer inflation data. Federal Reserve Chair Jerome Powell’s remarks suggesting a pause in U.S. rate hikes contributed to the dollar’s decline, supporting gold’s overnight gains. Anticipation of CPI Data:Market focus shifted …

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• 15 May 2024 9:52 am

  Asian Stocks Rise as Investors Await U.S. Inflation Data, Chinese Markets Weaken on Tariff Hike

  

  Amid anticipation of key U.S. consumer inflation figures, most Asian stocks saw slight gains on Wednesday, although Chinese markets faced a downturn following the imposition of heightened tariffs by the Biden administration. U.S. Inflation Data Anticipation:Wall Street’s resilience to a hotter-than-expected producer price index reading provided a positive backdrop for …

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• 15 May 2024 4:24 am

  Market Drivers; US Session, May 14

  

  Ahead of the release of US CPI on Wednesday, market players were analysing sticky US producer prices and Chair Powell’s lukewarm stance, which caused the US dollar to continue its dismal start to the week and retreat to multi-day lows. The USD Index (DXY) continued to fall on Monday, breaking …

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• 15 May 2024 4:16 am

  GBP/USD consolidates ahead of CPI data

  

  The GBP/USD pair has consolidated its gains above 1.2580 during the early Asian session, with the major pair holding above the key 100-day Exponential Moving Average (EMA) but still capped under the 1.2600 hurdle. The US Consumer Price Index and Retail Sales report for April will be in the spotlight, …

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• 15 May 2024 3:07 am

  CPI Preview: How Will US Inflation Data Influence Major Currencies?

  

  The looming CPI data for April 2024 is practically intriguing and warrants close analysis. Its potential impact on major currency performance in the forex market is significant. In this report, we will look closely into the background of this crucial inflation data and explore its implications for currency price action, …

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• 14 May 2024 10:33 pm

  Dow declines following US PPI data

  

  The Dow Jones Industrial Average slipped back to 39,320.00 on Tuesday after US Producer Price Index (PPI) inflation came in higher than expected. Market sentiment recovered and dragged the DJIA back to even. However, a double-header of US Consumer Price Index (CPI) inflation and Retail Sales are still loaded for …

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• 14 May 2024 9:25 pm

  Gold surges amid stronger safe haven appeal

  

  Because of its continued appeal as a safe haven to central banks and investors, gold continues to find support in the face of geopolitical risk aversion. Tuesday sees a stabilization of the gold price in the $2,350s, trading at $2,352.14, up +0.69% at the time of writing, as demand for …

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• 14 May 2024 7:54 pm

  EUR/USD rises as Powell emphasizes higher for longer rate policy

  

  Despite resolute US PPI data that heightens doubts about September Fed rate cuts, the EUR/USD pair rises just above 1.0800. April’s US annual PPI beat forecasts and monthly data exceeded expectations. With service inflation moderating to 3.7%, the Eurozone Price Index is expected to reach 2% again soon. In the …

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• 14 May 2024 6:59 pm

  Powell: PPI reading was quite mixed

  

  Federal Reserve Chairman Jerome Powell speaks at a moderated discussion with De Nederlandsche Bank (DNB) President Klaas Knot at the Foreign Bankers’ Association’s Annual General Meeting in Amsterdam. US Dollar stays under modest bearish pressure following these comments. At the time of press, the US Dollar Index was down 0.2% …

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• 14 May 2024 4:43 pm

  US PPI: April Records Yearly Increase

  

  The latest data from the US Bureau of Labor Statistics revealed that the Producer Price Index (PPI) for final demand in the United States witnessed a 2.2% rise yearly in April. This figure closely follows March’s increase of 1.8% (revised from 2.1%), aligning precisely with market expectations. The annual core …

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