Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 24 June 2024 1:10 pm

  Yen Under Pressure as Dollar Remains Strong, Global Markets Await US Inflation Data

  

  The Japanese yen continued to struggle against a resilient US dollar, flirting with the psychologically significant 160 level. This renewed weakness has prompted warnings from Japanese authorities, raising concerns about potential intervention to prop up the currency. The yen’s decline has been fueled by the Bank of Japan’s decision to …

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• 24 June 2024 12:13 pm

  Bank of Japan on the Cusp of Policy Shift: Rate Hike Looms as Inflation Surges

  

  A sense of urgency is building within the halls of the Bank of Japan (BOJ) as the nation grapples with surging inflation and a weakening yen. The once-unthinkable prospect of raising interest rates is now at the forefront of policy discussions, with recent meeting summaries revealing a growing consensus among …

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• 24 June 2024 11:41 am

  European Markets Hold Steady Amidst Political and Industry Shifts

  

  A cautious mood settled over European markets on Monday, with the pan-European STOXX 600 index maintaining its position at 515.06 points. The flat opening was largely attributed to a decline in mining stocks, dragged down by weaker metal prices. However, the automotive sector provided a glimmer of hope, accelerating with …

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• 24 June 2024 11:20 am

  Asian Stocks Slide as China Trade War Fears Escalate, US Inflation Data Looms

  

  Asian stock markets experienced a downturn on Monday, with Chinese markets bearing the brunt of the losses amid escalating concerns of a potential trade war with the European Union. The prospect of a prolonged period of high interest rates in the U.S. further dampened investor sentiment. Wall Street provided a …

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• 24 June 2024 5:11 am

  Financial Markets’ Weekly Recap: Markets will focus on inflation data next week

  

  Throughout the week ending June 21, the market’s attention fixated on the Federal Reserve’s future interest rate decisions. Investor focus centered on everything influencing interest rate expectations, including economic data releases, developments within the US economy, and statements from the Federal Reserve itself.Last week saw the release of several key …

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• 24 June 2024 12:22 am

  Does Sino-EU trade dispute threaten Eurozone?

  

  The dispute between the European Union and China over electric vehicles remains unresolved. Both sides face significant risks of escalation into a full-blown trade war. While China has publicly stated its opposition to such a war, analysts believe Europe wouldn’t fare well in one. Efforts are underway through diplomatic channels …

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• 22 June 2024 12:09 am

  Wall Street’s rally fatigued for the first time in a week

  

  US stocks remained near the flatline on Friday as a tech-led rally showed signs of fatigue for the first time in over a week. The benchmark S&P 500 shed nearly 0.2%, while the tech-heavy Nasdaq Composite lost 0.2%. The Dow Jones Industrial Average remained virtually unchanged. Nvidia, which briefly became …

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• 21 June 2024 7:12 pm

  Gold prices decline following higher than expected US data

  

  Gold has reversed earlier gains following the release of higher-than-expected US PMI data, which showed strong activity levels in US Manufacturing and Services in June. This indicates that inflation and interest rates will remain higher for longer, causing gold to drop off a cliff to trade in the $2,330s on …

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• 21 June 2024 3:56 pm

  Oil Prices Stabilize, Poised for Weekly Gains Amidst Rising Demand and Geopolitical Tensions

  

  Crude oil futures held steady on Friday, with Brent crude futures for August settlement experiencing a slight dip and U.S. West Texas Intermediate (WTI) crude futures for August delivery also edging lower. However, both benchmarks were set to achieve a second consecutive week of over 3% gains, reaching their highest …

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• 21 June 2024 1:58 pm

  Dollar Soars to New Highs as Fed Remains Hawkish, Sterling Retreats Further

  

  The U.S. dollar continued its upward trajectory on Friday, reaching new highs as the Federal Reserve’s hawkish stance contrasted with the more dovish policies of its European counterparts. Sterling, meanwhile, continued its decline amid expectations of a Bank of England rate cut in August. The Dollar Index, measuring the greenback …

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• 21 June 2024 12:44 pm

  European Stocks Dip on Tech Selloff and Carlsberg’s Failed Takeover Bid

  

  European shares opened lower on Friday, led by a decline in technology stocks and a sharp drop in Carlsberg Group shares following the rejection of its takeover bid for British soft drinks maker Britvic. The pan-European STOXX 600 index fell 0.2% in early trading, with the technology sector experiencing a …

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• 21 June 2024 4:11 am

  Market Drivers; US Session, June 20

  

  The dollar recovered strong upside traction and maintained the price action in the risk complex depressed amidst interest rate cuts speculation and soft US data releases. In addition, the BoE and the Norges Bank kept their policy rates unchanged vs. a surprising cut by the SNB.The DXY rose to four-day …

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• 21 June 2024 3:18 am

  Why are money market funds the preferred choice for some investors?

  

  After 25 basis-point rate cut decisions by the ECB and BoC, the Fed left rate unchanged (within 5.25%: 5.5% range) with one possible cut before yearend. This decision bodes well for holders of assets in money market funds that provide returns exceeding dividend stocks and REITs, while their performance is …

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