Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 21 August 2024 1:15 am

  US Dollar Under Pressure on Easing Market Bets

  

  The US Dollar, as measured by the DXY Index, has experienced a sharp decline, reaching its lowest point in seven months. This downturn is directly correlated with a parallel decrease in Treasury yields and an intensifying market expectation of substantial interest rate reductions by the Federal Reserve.Investor attention is currently …

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• 20 August 2024 11:17 pm

  US stocks edge lower after 8-day winning streak ahead of Powell’s Speech

  

  Tuesday’s market lull came after the longest gain of the year, with traders hoping Jerome Powell would indicate that the Federal Reserve is willing to slash interest rates further when it begins to do so. After eight straight days of daily gains for the benchmark index, the S&P 500 saw …

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• 20 August 2024 10:15 pm

  Market Eyes FOMC Minutes for Rate Cut Clues

  

  The U.S. dollar continued its downward trajectory on August 21, 2024, as investors anticipated a dovish message from Federal Reserve Chair Jerome Powell at the upcoming Jackson Hole symposium. This expectation, coupled with a generally improved risk sentiment, drove the dollar index (DXY) to near its 2024 lows. Several key …

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• 20 August 2024 8:40 pm

  Gold’s Rally Continues Ahead of FOMC Minutes

  

  Gold prices have been on a remarkable rally, recently reaching fresh all-time and historical highs. A confluence of technical indicators and fundamental factors suggests that this bullish trend may persist. Technical Analysis: A Strong FoundationThe recent price action has been characterized by a series of higher highs and higher lows, …

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• 20 August 2024 7:23 pm

  GBP/USD Surges Towards July Highs Amid Bullish Momentum

  

  GBP/USD’s bullish run shows no signs of abating. The pair continued its upward trajectory on Tuesday, gaining 0.32% to reach 1.3030, inching closer to mid-July highs. This sustained upward momentum is evident in the recent trading sessions. The next hurdle for GBP/USD lies at 1.3100. If the pair can break …

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• 20 August 2024 6:47 pm

  Analyzing Goldman Sachs’ Revised US Recession Outlook

  

  Goldman Sachs, a leading investment bank, has recently revised its forecast for a U.S. recession, decreasing the probability to 20%. This adjustment follows a brief uptick in the likelihood after a weaker-than-expected July jobs report. However, subsequent economic indicators, including retail sales and jobless claims, have mitigated concerns about an …

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• 20 August 2024 1:41 pm

  U.S. Dollar Slips to Near Seven-Month Lows Amid Rate Cut Speculation

  

  The U.S. dollar continued its downward trend on Tuesday, edging closer to seven-month lows as growing expectations of a Federal Reserve interest rate cut in September weighed on the currency. As of 04:00 ET (09:00 GMT), the Dollar Index, which measures the greenback against a basket of six major currencies, …

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• 20 August 2024 12:30 pm

  European Shares Steady Ahead of Key Data, Energy Stocks Lead Declines

  

  European shares were mostly flat on Tuesday as investors held back from making significant bets ahead of crucial euro zone data. The pan-European STOXX 600 index remained stable at 514.87 points as of 0710 GMT, after reaching a three-week high in the previous session. Sector Highlights: Energy Stocks Fall: The …

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• 20 August 2024 11:24 am

  Bitcoin Rises as Fed Rate Cut Bets Fuel Broader Market Gains

  

  Bitcoin surged on Tuesday, rising 4.5% to $61,176.1 by 01:29 ET (05:29 GMT), as optimism about potential interest rate cuts by the Federal Reserve bolstered risk-driven markets. This growth mirrors broader market gains, reflecting increased investor confidence that the Fed may reduce rates in September. Key Factors Driving Bitcoin’s Rise: …

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• 20 August 2024 10:47 am

  Oil Prices Decline as Israel Accepts Proposal to Resolve Ceasefire Disagreements

  

  Oil prices fell on Tuesday as Israel accepted a proposal to address disagreements that were hindering a ceasefire deal in Gaza, reducing concerns over potential supply disruptions in the Middle East. By 0600 GMT, Brent crude dropped 67 cents, or 0.86%, to $76.99 per barrel. U.S. West Texas Intermediate (WTI) …

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• 20 August 2024 10:00 am

  Gold Prices Ease Slightly, Remain Near Record Highs on Fed Rate Cut Speculation

  

  Gold prices dipped slightly in Asian trading on Tuesday but remained close to their record highs as traders increasingly believe that the Federal Reserve will begin cutting interest rates in September, leading to a weaker dollar. Spot gold edged down 0.1% to $2,501.06 an ounce, while December gold futures also …

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• 20 August 2024 3:09 am

  Market Drivers; US Session, August 19

  

  Selling pressure on the US Dollar persisted as investor risk appetite strengthened ahead of crucial economic events. The release of the FOMC minutes and Federal Reserve Chair Powell’s speech at Jackson Hole loomed large.The USD Index plunged to its lowest point in several months, nearing 101.80, as positive sentiment dominated …

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• 20 August 2024 1:54 am

  Is Bitcoin Encountering Consolidation or Collapse?

  

  Bitcoin’s recent price behavior has ignited a fervent debate among investors and analysts. After a brief flirtation with the $60,000 level, the world’s largest cryptocurrency has retreated, leaving market participants grappling with uncertainty. Is this a temporary consolidation phase, or a harbinger of a more protracted downturn?The Macroeconomic UndercurrentTo fully …

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