Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 6 June 2024 12:26 pm

  Oil Prices Edge Higher on Rate Cut Expectations, Despite Supply and Inventory Concerns

  

  Oil prices rebounded for the second consecutive day on Thursday, driven by growing optimism that the Federal Reserve may cut interest rates as early as September. However, the potential for higher supply from OPEC+ and rising U.S. inventories kept the price gains in check. Brent crude futures rose 0.42% to …

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• 6 June 2024 11:42 am

  German Industrial Orders Decline Unexpectedly in April, But Signs of Recovery Emerge

  

  German industrial orders unexpectedly contracted for the fourth consecutive month in April, primarily due to a significant decrease in large-scale orders compared to the previous month. This decline, however, was partially offset by a rise in orders excluding large-scale projects, suggesting potential signs of recovery in the sector. According to …

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• 6 June 2024 10:42 am

  Euro Edges Up Ahead of ECB Rate Decision, Dollar Dips on Easing Labor Market

  

  The euro gained slightly on Thursday as traders awaited the European Central Bank’s (ECB) policy decision, where a rate cut is widely anticipated. Meanwhile, the dollar weakened due to renewed expectations of Federal Reserve easing later this year. The Canadian dollar also saw a modest increase, recovering from earlier losses, …

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• 6 June 2024 9:52 am

  Asian Chipmakers Ride the AI Wave, Propelled by Nvidia’s Soaring Valuation

  

  Asian chipmaking stocks experienced a significant boost on Thursday, mirroring the overnight rally of market darling Nvidia. This surge was fueled by renewed optimism surrounding artificial intelligence (AI) and its potential to drive demand for semiconductors. Nvidia, the leading manufacturer of advanced AI chips, achieved a historic milestone, surpassing a …

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• 6 June 2024 9:45 am

  Predicting the Next Big Disruption: Emerging Technologies and Trade

  

  Contemporary technologies are undoubtedly reshaping the financial assets and trading industry, and markets are undergoing major transformations due to emerging technologies. This report explores some of the key areas of influence of the most prominent technologies in today’s world.Blockchain and supply chain transparency: Blockchain technology ensures secure and transparent transactions …

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• 6 June 2024 4:35 am

  Market Drivers: US Session, June 5

  

  The US dollar continued its weekly recovery, gaining ground even as US yields displayed a mixed tone across the yield curve. Investors are now factoring in the possibility of two interest rate cuts by the Federal Reserve later this year. Meanwhile, market participants are fully anticipating a 25 basis point …

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• 6 June 2024 4:07 am

  What can markets expect from ECB’s rate decision?

  

  Based on recent signals from central bank officials that the economy qualifies monetary authorities for this option, the ECB is widely expected to cut rates at its meeting, on Thursday, June 6.If this forecast comes to pass, it will be the first European cut for lending interest since 2016 and …

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• 5 June 2024 11:19 pm

  ADP data drives US stocks higher

  

  US stocks rose on Wednesday due to the slowing of job gains in May, as private employers added 152,000 jobs last month, less than expected. This data suggests that the US labor market is cooling, boosting investor hopes that the Fed could cut interest rates later this year. Nvidia (NVDA) …

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• 5 June 2024 8:58 pm

  What can US ADP data tell about gold price outlook?

  

  The US ADP data, which has been a significant factor in gold traders’ predictions, has missed the forecast and has altered the outlook for the Fed. The US central bank’s strategy has led to a decline in the dollar index and a positive impact on the gold price. However, the …

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• 5 June 2024 8:48 pm

  USD/CAD spiked after BoC rate decision, US ISM Services PMI data

  

  The USD/CAD pair rallies after the Bank of Canada decides to cut its key interest rate at its June meeting. The decision was widely expected but still weighs on the Canadian Dollar, lifting the pair which also gets a second boost after US ISM Services PMIs surprise to the upside, …

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• 5 June 2024 6:53 pm

  Following First Rate Cut, BoC Governor Comments on inflation, Soft Landing

  

  At his press conference on Thursday, BoC’s Governor Tiff Macklem reiterated that decisions on interest rates will be on a meeting-by-meeting basis.The USD/CAD pair climbed to four-day tops past the 1.3700 mark as investors continue to assess the BoC’s rate decision, while Toronto stocks (TSX index) rose after the bank …

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• 5 June 2024 4:27 pm

  US Private Payrolls Slow Down, Fueling Rate Cut Speculation

  

  U.S. private payrolls grew at a slower pace than expected in May, signaling a potential cooling in the labor market. According to ADP, companies added 152,000 workers during the month, falling short of economists’ forecasts of 173,000 and lower than the downwardly revised figure of 188,000 for April. This report …

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• 5 June 2024 2:39 pm

  China’s Exports Poised for Growth, Boosting Economic Outlook Amidst Challenges

  

  China’s exports are expected to accelerate for the second consecutive month in May, driven by improving global demand and a favorable base of comparison. This positive development offers some comfort to officials grappling with various domestic challenges to sustain the nation’s uneven economic recovery. The trade data, scheduled for release …

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