Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 12 July 2024 2:09 am

  Market Drivers; US Session: Focus on US Data, Potential Rate Cuts

  

  US Dollar Dives on Soft US Inflation: The US Dollar Index (DXY) plunged to multi-week lows around 104.00 after disappointing Consumer Price Index (CPI) data and falling US yields. This data fueled speculation of the Federal Reserve cutting interest rates as early as September, sending the Dollar tumbling. Today (July …

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• 12 July 2024 1:38 am

  EUR/USD follows market-wide rally after US CPI

  

  The Euro strengthened against the US Dollar (USD) along with other currencies after US inflation data showed a slowdown. This pushed the EUR/USD pair to its highest level in five weeks. However, the gains weren’t sustained. The EUR/USD pulled back from its daily highs, suggesting a possible reversal and a …

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• 12 July 2024 12:16 am

  Gold, BTC, GBP: Analytical Look on Week’s Performance, Future Outlook

  

  The financial markets have been wildly volatile this week, with notable swings in the price of gold, Bitcoin, and the British pound (GBP) caused by a variety of circumstances. Let’s examine the main forces at work in their performance and look forward.Dynamic Interplay The complex interplay among economic data, expectations …

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• 11 July 2024 10:43 pm

  US bond yields decline on interest rate cut hopes

  

  US bond yields have continued to decline since the opening of trading on Wall Street, affected by the latest US inflation reading; the CPI data, that highlighted a continued decline in price growth in the United States last June.The data issued Thursday raised speculation that the Federal Reserve may seriously …

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• 11 July 2024 9:51 pm

  Fed’s Musalem: CPI data points to encouraging further progress

  

  Federal Reserve Bank of St. Louis President Alberto Musalem noted on Thursday that while the disinflation process is ongoing, the Fed policymaker would like to see more progress and highlighted that recession risks remain low.Key QuotesHigh interest rates are pressuring parts of the economy.The disinflation process is ongoing.I see the …

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• 11 July 2024 7:26 pm

  US inflation continues to retreat

  

  US inflation fell Thursday to levels below market expectations, according to data released by the US Bureau of Labour Census. The decline in inflation favors expectations of a rate cut, especially after Federal Reserve Chairman Jerome Powell’s testimony on economic conditions before the US Congress.The US consumer price index fell …

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• 11 July 2024 7:07 pm

  Fed’s Daly: One or two rate cuts this year would be more or less the appropriate path

  

  Federal Reserve Bank of San Francisco President Mary C. Daly acknowledged improving inflation figures on Thursday but warned that shelter inflation and labor remain sticking points, and that expectations of three rate cuts may be an overreaction.Key QuotesThe economy looks to be on a path where one or two rate …

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• 11 July 2024 3:46 pm

  Sterling Surges to 4-Month High on BoE Comments and Strong GDP Data

  

  The British pound reached a four-month high on Thursday, boosted by hawkish remarks from Bank of England policymakers and better-than-expected GDP figures. These developments prompted traders to reassess their expectations for an August rate cut, shifting focus towards upcoming U.S. inflation data. Key Points: Sterling Strength: The pound gained 0.25%, …

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• 11 July 2024 2:57 pm

  Bitcoin Price Slide Continues Amidst Mounting Selling Pressure and Bearish Indicators

  

  Bitcoin’s price has continued its downward trajectory, reaching a four-month low as multiple factors contribute to increased selling pressure and growing concerns about a potential bear market. The ongoing refund of tokens to clients affected by the 2014 Mt. Gox hack remains a significant factor driving Bitcoin’s decline. While the …

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• 11 July 2024 12:55 pm

  Gold Prices Climb as Powell’s Comments Fuel Rate Cut Speculation

  

  Gold prices continued their upward trend in Asian trading on Thursday, buoyed by a weaker dollar and declining Treasury yields as expectations of U.S. interest rate cuts gained momentum. The precious metal also benefited from reports of central banks in emerging markets increasing their gold reserves and dovish comments from …

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• 11 July 2024 12:02 pm

  German Inflation Eases to 2.5% in June, Confirming Preliminary Data

  

  Germany’s inflation rate cooled down to 2.5% in June, according to the federal statistics office’s final figures released on Thursday. This confirms the initial estimates and marks a decline from the 2.8% year-on-year increase in May. The harmonized consumer price index, which allows for comparison with other European Union countries, …

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• 11 July 2024 10:16 am

  Oil Prices Extend Gains Amid Weak Dollar and Tight Supply Bets

  

  Oil prices continued their upward trend in Asian trade on Thursday, bolstered by a weakening dollar ahead of key U.S. inflation data and expectations of tighter global supplies. Dollar Weakness and Rate Cut Bets The dollar experienced steep losses this week as investors focused on upcoming consumer price index (CPI) …

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• 11 July 2024 1:33 am

  Market Drivers; US Session, July 10

  

  Amid lower US Treasury yields, the USD Index (DXY) maintained the vacillating attitude just over the 105.00 level. The weekly Initial Jobless Claims report, lectures by Fed members Cook and Bostic, and the announcement of the US Inflation Rate take center stage on July 11. The EUR/USD pair somewhat recovered …

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