Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 8 July 2024 11:54 pm

  Exxon: Higher Oil Prices Consolidating Upstream Earnings

  

  In a preview of its Q2 results, the U.S. supermajor ExxonMobil said on Monday that it expects greater upstream profitability for the second quarter of the year compared to the first quarter of the year, perhaps reaching $700 million.Although there could be an additional $700 million in upstream earnings due …

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• 8 July 2024 10:51 pm

  How will gold price react if inflation hits 2%?

  

  Inflation has been a significant factor for the price of gold, with the Federal Reserve raising interest rates to combat it and keeping rates higher for longer for the same purpose. Gold prices have been strong, reaching a record high of over $2,400 in May, and have since fallen slightly …

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• 8 July 2024 10:29 pm

  Euro advances on French election results

  

  By the end of the first day of the new trading week, the euro was up because of the French election results, which revealed that the economy was moving away from the extreme right’s grip.The far right, which had won the first round, was content with third place, while the …

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• 8 July 2024 9:36 pm

  Fresh US Plan Targeting Russian Oil Revenues

  

  Treasury officials in President Biden’s Treasury Department have proposed new actions to cripple a fleet of aging oil tankers that are helping deliver Russian oil to buyers around the world in defiance of Western sanctions. The effort is aimed at punishing Russia but has stalled amid White House concerns over …

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• 8 July 2024 8:34 pm

  US Dollar looks for catalysts ahead of CPI data, Powell’s testimony

  

  the US Dollar was down 0.80% last week, now at lowest level since mid-June. Anticipation builds with the upcoming release of the June inflation figures and Fed talks.Market is pricing in less than 10% odds of a cut in July and around 80% in September. The US Dollar continues to …

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• 8 July 2024 7:42 pm

  BoE seen to hold Interest rates in August

  

  Interest rates in the UK are expected to be held again next month, rather than cut for the first time in over four years, according to Jonathan Haskel, a member of the Bank of England’s Monetary Policy Committee (MPC). The UK central bank has kept interest rates at a 16-year …

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• 8 July 2024 2:54 pm

  US Stock Futures Hold Steady Ahead of Pivotal Week

  

  U.S. stock index futures remained largely unchanged on Monday morning, as investors braced for a critical week packed with market-moving events. With the release of key inflation data, Federal Reserve Chair Jerome Powell’s testimony, and the commencement of the second-quarter earnings season, market participants are treading cautiously while assessing potential …

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• 8 July 2024 12:46 pm

  China’s Car Sales Decline for Third Consecutive Month Despite Government Incentives

  

  China’s car sales continued to decline in June, marking the third straight month of falling figures. This trend persists despite government incentives aimed at boosting consumer demand amid a sluggish economic recovery. Key Points: June Sales Decline: Passenger vehicle sales in June totaled 1.78 million, a 6.9% decrease compared to …

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• 8 July 2024 11:34 am

  Oil Prices Slip as Gaza Ceasefire Talks Progress and Tropical Storm Beryl Threatens US Supplies

  

  Oil prices edged lower on Monday, following a four-week upward trend, due to the prospect of a ceasefire in Gaza easing geopolitical tensions. Investors are also monitoring Tropical Storm Beryl, which threatens to disrupt U.S. energy supplies. Brent crude futures dipped 0.4% to $86.18 a barrel, while U.S. West Texas …

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• 8 July 2024 10:43 am

  German Exports Slump in May Amid Weak Global Demand

  

  German exports experienced a sharper-than-expected decline in May, as weak demand from major trading partners such as China, the U.S., and other European countries weighed on the nation’s economic performance. According to data released by the federal statistics office, exports fell by 3.6% in May compared to the previous month, …

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• 8 July 2024 9:59 am

  Gold Dips Slightly, but Holds Near One-Month Highs Amid Rate Cut Anticipation

  

  Gold prices experienced a minor retreat in Asian trading on Monday, as investors paused to assess the upcoming testimony by Federal Reserve Chair Jerome Powell and key inflation data due later in the week. Despite the slight dip, gold remains close to one-month highs, fueled by growing expectations of an …

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• 8 July 2024 1:21 am

  Markets’ Weekly Recap: Bets continue on a US rate cut sooner than expected

  

  The financial markets witnessed many developments during the trading week ending on Friday, July 5, 2024, in terms of major currencies, American and international stocks, commodities, and other most prominent traded assets, and in this weekly report we attempt to monitor the most important developments.Markets were mixed this week, with …

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• 6 July 2024 1:36 am

  Explainer: Why Are Wall Street Discussions Recalling Sahm Rule?

  

  Wall Street is buzzing about the Sahm Rule after the latest US Bureau of Labour Statistics data release showed an unexpected rise in the unemployment rate. While the headline number of 206,000 new jobs created in June exceeded the 190,000 expectations, economists are concerned about several underlying factors.What is the …

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