Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 4 July 2024 2:16 pm

  Oil Prices Ease from Multi-Month Highs Amid Profit-Taking and Demand Concerns

  

  Oil prices dipped slightly on Thursday, retreating from their recent multi-month highs as investors took profits amid lingering demand concerns, despite a significant decline in U.S. inventories the previous week. Brent Crude and WTI Futures Decline Brent crude futures experienced a 0.49% decrease to $86.91 per barrel, while U.S. West …

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• 4 July 2024 12:48 pm

  Gold Steady at 10-Day High Amid Rate Cut Bets, Nonfarm Payrolls Awaited

  

  Gold prices held firm near a 10-day peak in Asian trading on Thursday, buoyed by increasing expectations of interest rate cuts by the Federal Reserve, which weakened the dollar and Treasury yields. However, the precious metal’s gains were tempered by hawkish signals from the Fed’s June meeting minutes and cautious …

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• 4 July 2024 11:19 am

  Bitcoin Plunges to Two-Month Low Amid Mt Gox Fears

  

  Bitcoin’s price plummeted to a two-month low on Thursday, breaching a crucial support level as traders remained cautious due to concerns over potential selling pressure, particularly from the defunct crypto exchange Mt Gox. Despite the weakening dollar, which usually supports Bitcoin, the world’s largest cryptocurrency saw a significant 3.2% drop …

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• 4 July 2024 10:03 am

  Dollar Struggles as Yen Nears 38-Year Low, Elections Grip Europe

  

  The dollar weakened on Thursday, pressured by recent signs of a slowing U.S. economy. This offered limited support to the embattled yen, which remained near a 38-year low against the dollar, raising concerns of potential government intervention. Meanwhile, the euro and sterling held near three-week highs against the dollar as …

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• 4 July 2024 9:24 am

  Asian Markets Rally on Fed Rate Cut Expectations, Japan Surges to Record Highs

  

  Asian stocks advanced on Thursday, fueled by Wall Street’s gains and mounting expectations that the Federal Reserve will reduce interest rates by September due to recent weak economic data. Japanese stocks led the charge, nearing record highs and recouping losses from the second quarter. Wall Street’s S&P 500 and NASDAQ …

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• 4 July 2024 7:05 am

  Market Driver; US Session, July 3

  

  The US dollar fell to multiday lows in the wake of another data-driven sell-off, which coincided with a general decline in US rates and the July 4 Independence Day holiday. The UK general elections are also anticipated to be actively watched by markets in the lead-up to the French second …

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• 4 July 2024 3:16 am

  How Have Markets Reacted to FOMC Minutes?

  

  The minutes of the Fed’s June meeting were made public, and they contained a plethora of signals that the markets interpreted differently with regard to the factors influencing the federal rate’s future trajectory. “Most monetary policymakers in the meeting of the Central Bank’s Board of Governors on June 11 and …

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• 4 July 2024 1:08 am

  US Treasury yields fall after FOMC minutes, weak data

  

  Weak US economic statistics is the reason behind an eight basis point decline in the US 10-year Treasury yield. FOMC minutes mention the downturn in the economy and leave room for rate decreases should inflation get close to the 2% target. A decline in ADP Employment Change and a notable …

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• 3 July 2024 11:45 pm

  FOMC Minutes: US Consumer Prices Favour Declining Inflation

  

  The minutes of the latest FOMC meeting issued on Wednesday indicated that members of the committee are convinced that the US consumer price index readings (CPI) last May provided evidence that there is progress in terms of lowering inflation while meeting the central bank’s goal.A number of policymakers also suggested …

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• 3 July 2024 11:25 pm

  Gold Prices Soar Following Soft US Data

  

  Gold prices surged over 1% on Wednesday due to weak US economic data and rising Fed rate cut expectations. The latest FOMC meeting minutes showed that “several participants” were ready to lift rates if inflation remained elevated. The Institute for Supply Management (ISM) shows contracting US services activity, while labor …

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• 3 July 2024 9:08 pm

  Could Earnings Season Delay Overdue Pullback for S&P 500?

  

  The stock market’s impressive July debut is carrying over the energy from 2024’s promising first half. Although strong earnings are anticipated for the upcoming quarter, several analysts believe notable growth predictions for the remainder of the year are unrealistic. This could signal a postponement of the probable decline in the …

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• 3 July 2024 8:22 pm

  FOMC Minutes Awaited For Rate Policy Clues Amid Inflation-linked Concerns

  

  The US Federal Reserve will release its June 11-12 policy meeting minutes on Wednesday at 18:00 GMT. Investors will scrutinize the Fed’s hawkish hold and inflation outlook to gauge the timing of the expected interest rate cut this year. The Fed maintained its monetary policy settings for the seventh consecutive …

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• 3 July 2024 11:54 am

  European Stocks Rise on Fed Optimism and Political Developments

  

  European stocks enjoyed a boost on Wednesday, buoyed by Federal Reserve Chair Jerome Powell’s encouraging remarks and anticipation surrounding key political events in France and the UK. The pan-European STOXX 600 index rose 0.3%, marking its second gain in seven sessions. Investor sentiment was lifted by Powell’s comments regarding “significant …

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