Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 2 May 2024 12:50 pm

  European Shares Slip at Market Open Amid Earnings Tide and Fed Decision

  

  European shares started on a subdued note on Thursday as investors resumed trading after a mid-week holiday to analyze a flurry of significant earnings reports and the Federal Reserve’s indication of a delay in interest rate cuts. The pan-European STOXX 600 edged down by 0.2% as of 0715 GMT, following …

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• 2 May 2024 12:38 pm

  Eurozone Factory Activity Deteriorates in April, Reveals PMI Data

  

  In April, the persistent downturn in euro zone manufacturing activity intensified due to weakening demand, despite factories slashing prices. This compelled businesses to further trim their workforce, according to a survey released on Thursday. The final euro zone Manufacturing Purchasing Managers’ Index (PMI) by HCOB, compiled by S&P Global, dropped …

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• 2 May 2024 11:58 am

  Maersk raises full-year profit guidance after strong quarter

  

  Shipping giant Maersk raised its annual profit forecast after reporting stronger-than-expected quarterly earnings on Thursday, attributing the performance to robust container shipping demand and strategic vessel diversions around Africa to bypass the Red Sea. The Copenhagen-based company, considered a bellwether for global trade, noted that ocean container shipping demand growth …

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• 2 May 2024 11:21 am

  Yen Falls Following Rapid Surge, Attributed to Authorities’ Intervention

  

  On Thursday, the yen depreciated against the dollar, reversing its trajectory following a sudden surge on Wednesday night, which market participants and analysts promptly linked to intervention by Japanese authorities. The yen declined by 0.80 percent to 155.73 against the dollar by 0537 GMT, retracing nearly half of its ascent …

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• 2 May 2024 10:15 am

  Oil Prices Surge Amid Potential Replenishment of US Strategic Reserve

  

  Oil prices climbed on Thursday as the United States is anticipated to initiate crude purchases to replenish its reserves, following a slump to a seven-week low. This comes alongside optimism for a ceasefire in the Gaza Strip, increasing American stockpiles, and uncertainty regarding a potential interest rate cut by the …

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• 2 May 2024 9:03 am

  Gold rises after the US Central Bank fixed interest rates

  

  Gold prices continued their upward trend for the second consecutive session on Thursday following indications from the Federal Reserve (US central bank) suggesting a potential future interest rate cut. Gold edged up by 0.3 percent to $2,325.02 per ounce by 0218 GMT, building upon its more than one percent gain …

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• 2 May 2024 3:40 am

  What is behind oil price’s recent decline?

  

  Since mid-April 2024, the global oil market has been in a tug of war mode, with remarkable fluctuations, as prices continued to swing and reacted to upward and downward pressures. In order to understand this volatility, it is essential to refer to reliable data and stay informed on global developments …

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• 2 May 2024 1:54 am

  Market Drivers; US Session, May 1

  

  After the Fed kept interest rates constant as expected and Chief Powell ruled out an interest rate hike as the Fed’s next move, the US dollar gave up its gains on Tuesday with falling US yields across the curve.As US rates reversed following the FOMC meeting, the USD Index (DXY) …

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• 2 May 2024 12:06 am

  Gold prices surge, US dollar slides following FOMC decision

  

  Gold prices surged following the Federal Reserve’s decision to hold interest rates at 5.25-5.50% and Chair Powell’s cautious comments. The US economy, despite facing inflationary pressures and a tightening labor market, maintains robust domestic demand, according to Powell’s observations. However, inflation remains high, leading to the Fed’s cautious stance on …

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• 1 May 2024 11:13 pm

  Powell speaks on policy outlook after FOMC decision

  

  Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference.In its policy statement, the Fed said that there has recently been a lack of further progress toward the 2% …

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• 1 May 2024 10:41 pm

  Powell still seeks assurance that further progress on inflation is achieved

  

  In the post-FOMC meeting news conference, Federal Reserve Chairman Jerome Powell explained the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions.Key Quotes“The economy has made considerable progress toward dual goals.”“Inflation eased substantially over the past year but it’s still …

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• 1 May 2024 10:03 pm

  Federal Reserve Keeps US Interest Rates Unchanged

  

  The Federal Open Market Committee decided to keep interest rates unchanged at its meeting that concluded today, Wednesday, and investors and observers are awaiting the press conference held by Federal Reserve Chairman Jerome Powell in an attempt to obtain guidance on the future interest rate path and the central bank’s …

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• 1 May 2024 9:51 pm

  Gold stabilized below $2,300 ahead of Fed decision

  

  Earlier on Wednesday, the XAU/USD Index was trading with gains of 0.84% at $2,304 amid falling US Treasury yields and a weak US Dollar. At the time of writing, it trading at $2299.20 per ounce.Manufacturing activity expanded in April, according to S&P Global. However, the Institute for Supply Management (ISM) …

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