Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 27 August 2024 10:21 pm

  USD Continues to Decline After Consumer Confidence Data

  

  The US Dollar has been declining since the start of US trading on Tuesday, continuing the downward trend that began at the end of last week following the release of the Federal Reserve meeting minutes and Jerome Powell’s comments at the Jackson Hole symposium.These comments highlighted a potential interest rate …

  Read More »
• 27 August 2024 7:11 pm

  GBP/USD Records New Multi-Year High Above 1.3200

  

  The GBP/USD pair has reached a new multi-year high, trading above 1.3200. The uptrend remains intact as long as the pair stays above 1.3043. If buyers reclaim 1.3298, it could expose the March 2022 peak at 1.3437. Conversely, a dip below 1.3200 will reveal further support levels, such as 1.3130 …

  Read More »
• 27 August 2024 3:07 pm

  Bitcoin Drops as Geopolitical Tensions and Market Uncertainty Weigh on Sentiment

  

  Bitcoin’s price slipped on Tuesday, losing momentum after a weekend rally as escalating geopolitical tensions and anticipation of key economic cues dampened risk appetite. The world’s largest cryptocurrency fell 1.4% to $3,106.6 by 01:10 ET (05:10 GMT), following a broader decline in global stock markets. Geopolitical Concerns and Market Reactions …

  Read More »
• 27 August 2024 11:40 am

  German Economy Contracts by 0.1% in Q2 2024, Reversing Prior Growth

  

  The German economy experienced a slight contraction of 0.1% in the second quarter of 2024, reversing the modest growth seen in the first quarter, according to official data released by the Federal Statistical Office on Tuesday. Economic Performance Overview The quarter-on-quarter shrinkage follows a 0.2% expansion in Germany’s Gross Domestic …

  Read More »
• 27 August 2024 10:24 am

  Gold Prices Dip as Dollar Rebounds, but Rate Cut Bets and Safe Haven Demand Support

  

  Gold prices slipped in Asian trading on Tuesday, pressured by a strengthening dollar. However, the potential for lower interest rates and ongoing geopolitical tensions kept the precious metal close to its recent highs. Gold Market Performance Spot gold declined by 0.4% to $2,507.15 an ounce, while December gold futures fell …

  Read More »
• 27 August 2024 9:44 am

  Oil Prices Retreat After 7% Surge Amid Middle East and Libyan Supply Concerns

  

  Oil prices took a step back on Tuesday, following a sharp rally that saw them rise by more than 7% over the previous three sessions. The recent surge was driven by heightened concerns over potential supply disruptions in the Middle East and Libya, prompting traders to reassess the situation. Market …

  Read More »
• 27 August 2024 4:01 am

  Market Drivers; US Session, August 26

  

  The US Dollar Index (DXY) initially dipped to new lows near 100.50 on Monday but managed to reverse that decline later in the day, bouncing back toward the 101.00 barrier. Keep an eye on the Consumer Confidence gauge published by the Conference Board and the FHFA’s House Price Index on …

  Read More »
• 27 August 2024 1:57 am

  Gold surges on Fed rate-cut wagers after Powell’s signals

  

  Following Powell’s remarks at Jackson Hole about possible policy easing in September, gold prices surged. Powell mentions labour market-linked concerns as well as inflation management; while some Fed officials reiterate forecasts for rate cuts.US durable goods orders increased 9.9% in July, indicating a robust economy; tensions in the Middle East …

  Read More »
• 27 August 2024 12:53 am

  US dollar recovers on quiet trading week’s start

  

  The US dollar bounces back after falling on Friday as a result of Powell’s dovish comments. The market expects a 100 basis point ease by year-end and a 200 basis point ease overall over the next 12 months. Later this week, PCE figures will come into focus. The US Dollar …

  Read More »
• 27 August 2024 12:02 am

  Dow Jones Hits New Record High on Thin Volumes

  

  Dow Jones Industrial Average (DJIA) reached a new all-time high of 41,419.65 on Monday, despite a generally quiet trading day. This follows a significant surge last week after the Federal Reserve signaled a potential rate cut in September.Investors are still digesting the impact of the Federal Reserve’s comments, which indicated …

  Read More »
• 26 August 2024 10:48 pm

  T-Yields struggle to hold firm amid rate cut speculations

  

  US Treasury yields are attempting to hold firm in the face of expectations for interest rate cuts. Yields on US government bonds are trying to withstand the rising expectations of interest rate cuts next month, supported by optimism that has prevailed in the markets since the statements of Mary Daly, …

  Read More »
• 26 August 2024 9:50 pm

  WTI Oil Extends Recovery Amid Libya Production Halt

  

  WTI’s recovery above $76.50 reflects a delicate balance between supply risks and market dynamics. Geopolitical tensions in Libya, coupled with broader economic factors, continue to shape the oil landscape. As investors keep a close eye on developments, the WTI price remains susceptible to sudden shifts.West Texas Intermediate (WTI), a crucial …

  Read More »
• 26 August 2024 8:44 pm

  Top US General Warns of Broader Middle Eastern War

  

  US Air Force General C.Q. Brown, chairman of the Joint Chiefs of Staff, recently stated that the risk of a broader Middle East conflict has somewhat diminished after Israel and Lebanon’s Hezbollah engaged in an exchange of fire without further escalation. However, General Brown also warned that Iran still poses …

  Read More »