Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 10 June 2024 12:10 pm

  European Stocks Tumble as Election Results and Fed Meeting Loom

  

  European stock markets took a significant hit on Monday, June 10th, as investors reacted to the results of the European Parliament elections, which saw gains for nationalist and euro-skeptic parties. This surge in the right is expected to lead to a more polarized European Parliament, potentially hindering the passage of …

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• 10 June 2024 11:15 am

  Gold Prices Stagnate Amidst Fed Rate Hike Fears, Dollar Strengthens

  

  Gold prices remained largely flat in Asian trading on Monday, reeling from last week’s losses as concerns about high U.S. interest rates intensified ahead of a Federal Reserve meeting and crucial inflation data this week. The precious metal retreated from near-record highs following Friday’s stronger-than-expected nonfarm payrolls report, prompting traders …

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• 10 June 2024 6:04 am

  Financial Markets’ Weekly Recap: Fed Policy, Market Sentiment, Jobs Data

  

  The financial markets displayed a mixed performance this past week, as investors navigated a confluence of economic data, central bank policy updates, and ongoing geopolitical tensions. While some sectors thrived, others took a backseat, reflecting the underlying uncertainty about the future trajectory of the global economy. Equity Markets Take a …

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• 8 June 2024 1:08 am

  EUR/USD trims week’s earlier gains

  

  Surprisingly, the US NFP numbers were far higher than anticipated. It is improbable that an additional rate decrease will follow the ECB rate cut. The European Central Bank (ECB) President Christine Lagarde issued a warning that a follow-up rate drop to June’s quarter-point rate trim may not be in the …

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• 7 June 2024 11:47 pm

  USD/CHF gains amid stronger US jobs report

  

  The USD/CHF pair bounced back on Friday during the North American session, reaching as high as 0.8965 at the time of writing thanks to the US’s better-than-expected Nonfarm Payroll statistics. The yield on US Treasuries rose as the likelihood of a September Fed cut decreased. Following the announcement of revised …

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• 7 June 2024 10:39 pm

  US stocks waver after jobs report smashes expectations

  

  The US stock market had a wild session on Friday, falling at first as the Federal Reserve’s intentions to lower interest rates this year were called into question by a better-than-expected jobs report. Investors had been waiting for news that would suggest the economy was slowing down and would result …

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• 7 June 2024 8:58 pm

  US Dollar Soars After Stronger NFP, Wage Inflation Data

  

  USD maintains its momentum, rising by more than 0.70% on Friday. US Nonfarm Payrolls exceeded market expectations in May, showing a robust recovery in the labor market. September odds fall for a Fed rate cut as positive economic signals abound.On Friday, the US Dollar Index (DXY) expanded its winning streak …

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• 7 June 2024 7:10 pm

  Surprise NFP data could boost USD, US Shares, Gold

  

  Nonfarm Payrolls smashed estimates with 272K in May, way above 185K expected and the 120-235K range. Moreover, wages beat with 0.4% vs 0.3% MoM and 4.1% vs. 3.9% YoY. The only disappointment was the symbolic increase of the unemployment rate to 4%, but that was fully overshadowed by the other …

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• 7 June 2024 4:39 pm

  U.S. Economy Adds More Jobs Than Expected, Challenging Rate Cut Expectations

  

  The U.S. economy defied expectations in May, adding a robust 272,000 jobs, significantly exceeding forecasts of 182,000. This surprisingly strong job growth, coupled with a 0.4% increase in average hourly earnings and a slight uptick in the unemployment rate to 4.0%, suggests that the labor market remains resilient and may …

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• 7 June 2024 2:32 pm

  U.S. Stock Futures Await Jobs Report, Tech Sentiment Mixed as Nvidia Slips

  

  U.S. stock index futures remained relatively flat on Friday as investors awaited the release of the crucial May nonfarm payrolls report. This data is expected to provide insights into the labor market’s strength and potentially influence the Federal Reserve’s interest rate decisions. While the benchmark S&P 500 and Nasdaq closed …

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• 7 June 2024 1:09 pm

  Dollar Holds Steady, Euro Pauses After ECB Rate Cut as U.S. Jobs Data Looms

  

  The U.S. dollar remained stable in early European trading on Friday as traders awaited the release of crucial U.S. employment data, while the euro steadied following the European Central Bank’s (ECB) historic rate cut. At 05:00 ET, the Dollar Index, tracking the greenback against a basket of six other currencies, …

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• 7 June 2024 11:43 am

  Oil Prices Edge Up on Supply Reassurances, but Weekly Losses Loom

  

  Oil prices experienced a slight uptick on Friday as Saudi Arabia and Russia, key members of OPEC+, signaled their willingness to adjust output agreements if necessary. However, the market remains on track for its third consecutive weekly loss, primarily due to concerns about increased supply following the recent OPEC+ meeting. …

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• 7 June 2024 10:40 am

  Gold Prices Climb as Rate Cut Bets Strengthen, Focus Turns to U.S. Jobs Data

  

  Gold prices surged in Asian trading on Friday, approaching key highs as expectations of Federal Reserve interest rate cuts gained momentum in anticipation of crucial nonfarm payrolls data due later in the day. The precious metal was poised for weekly gains following a series of weak U.S. economic readings that …

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