Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 16 October 2024 11:31 pm

  USD/CAD Gains as Fed Rate Cut Expectations Persist

  

  The US Dollar (USD) strengthened against the Canadian Dollar (CAD) on Thursday, with USD/CAD trading near 1.3755. The market is increasingly betting that the Federal Reserve (Fed) will implement a series of modest interest rate cuts in the coming months.The Fed’s dovish stance, coupled with geopolitical tensions and US election …

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• 16 October 2024 10:19 pm

  What is behind WTI’s Recent Price Decline

  

  The confluence of geopolitical, economic, and supply-demand factors has driven WTI prices to a two-week low. While the immediate catalyst was Israel’s pledge to avoid targeting Iran’s oil facilities, the broader context reveals a complex interplay of forces shaping the global crude oil market.Geopolitical TensionsIran’s Nuclear Program: The ongoing tensions …

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• 16 October 2024 9:39 pm

  The ECB’s Rate Cut and Global Economic Outlook

  

  The European Central Bank (ECB) is poised to deliver its third interest rate cut of the year at its meeting this Thursday, as policymakers signal that inflation risks are easing more rapidly than anticipated. Markets have already factored in a 25 basis point reduction and are even speculating about a …

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• 16 October 2024 8:34 pm

  Yen Weakens Following Bank of Japan Comments

  

  The Japanese yen continued its downward trend from the start of trading on Wednesday, influenced by statements from the Bank of Japan suggesting a tendency among Japanese monetary authorities to delay raising interest rates, which could add upward momentum to the Japanese currency.The dollar/yen pair rose to 149.67 compared to …

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• 16 October 2024 3:28 pm

  Oil Prices Steady Amid OPEC+ Cuts and Middle East Uncertainty

  

  Oil prices stabilized on Wednesday as OPEC+ production cuts and ongoing uncertainty in the Middle East balanced out a weakening demand outlook and expectations of ample supply in 2024. Brent crude oil futures inched up by 16 cents (0.2%) to $74.41 a barrel, while U.S. West Texas Intermediate (WTI) crude …

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• 16 October 2024 2:02 pm

  European Tech and Luxury Stocks Slump Amid Disappointing Earnings and ECB Caution

  

  European tech and luxury stocks took a hit on Wednesday following weak earnings reports from key players like ASML and LVMH, adding to market jitters ahead of the European Central Bank’s (ECB) upcoming policy decision. The STOXX 600 index fell by 0.3%, pulling back further from a recent two-week high. …

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• 16 October 2024 12:41 pm

  U.S. Dollar Strengthens on Expectations of Modest Fed Rate Cuts, While Sterling Weakens on Inflation Data

  

  The U.S. dollar advanced on Wednesday, hovering near two-month highs as market expectations of modest Federal Reserve rate cuts supported the currency. Meanwhile, the British pound saw a significant drop after inflation data suggested a softer economic outlook. Dollar Gains Amid Adjusted Rate Cut Expectations The Dollar Index, which measures …

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• 16 October 2024 10:05 am

  Bitcoin Surges Amid Hopes for U.S. Regulatory Reforms and Increased Inflows

  

  Bitcoin’s price climbed on Wednesday, nearing a 2-½ month high, fueled by optimism that the 2024 U.S. elections could bring more favorable regulations for cryptocurrencies. The digital asset has also benefited from improving capital inflows, adding momentum to its upward trend. The world’s largest cryptocurrency appears to have broken free …

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• 16 October 2024 10:04 am

  Gold Prices Steady Near Record Highs Amid Fed Rate Cut Speculation

  

  Gold prices remained steady near record highs during Asian trading on Wednesday, recovering some recent losses as traders continued to bet on further interest rate cuts by the U.S. Federal Reserve. After hitting record highs in September, gold has since traded within a narrow range of $2,600 per ounce, with …

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• 16 October 2024 2:42 am

  Is Bitcoin Eying Significant Breakout?

  

  Analysis indicates a lack of demand-side pressure within the current Bitcoin price range. The Binary CDD metric, which measures the expenditure of holding time, reveals that long-term investors remain relatively inactive. This suggests that investor attention and new demand inflows have not seen a significant resurgence year-to-date.The lack of demand …

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• 16 October 2024 1:48 am

  Market Drivers, US Session

  

  A mildly positive session left the US Dollar trading near recent levels. Amidst a global decline in yields, market participants remained focused on signals from Federal Reserve officials regarding the potential trajectory of interest rates.Key points for Wednesday, October 16:US Dollar Index (DXY): The DXY hovered near the upper end …

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• 16 October 2024 12:28 am

  Gold Price Surges Amidst US Yield Decline

  

  Gold prices experienced a significant uptick on Tuesday, October 15, 2024, as the yield on US 10-year Treasury notes retreated. This decline, coupled with a weaker US Dollar, made gold more attractive to investors seeking a safe-haven asset.The primary catalyst for gold’s surge was the decrease in US Treasury yields. …

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• 15 October 2024 11:40 pm

  Oil Prices retreat Amid Weaker Demand, Eased Iran Concerns

  

  Oil prices dropped over 4% on Tuesday due to a weaker demand outlook and reduced concerns about a potential Israeli strike on Iranian oil facilities. Both OPEC and the IEA have lowered their global oil demand growth forecasts for 2024.Hedge funds are unwinding their net long positions in oil futures.Crude …

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