Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 28 June 2024 5:05 pm

  May Inflation Cools, Raising Hopes for Fed Rate Cuts

  

  U.S. inflation eased in May, matching economists’ expectations and potentially bolstering the case for the Federal Reserve to implement interest rate cuts in 2024. The headline personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, remained flat month-over-month, a significant slowdown from April’s 0.3% increase. The annual rate …

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• 28 June 2024 4:24 pm

  Britain’s Economy Rebounds in Q1, But Long-Term Growth Woes Cloud Election Outlook

  

  Key Points: Stronger Rebound: Britain’s GDP grew by 0.7% in Q1 2024, exceeding initial estimates, signaling a faster recovery from the previous recession.Weak Long-Term Growth: Despite the rebound, GDP is only marginally higher than a year earlier, highlighting persistent challenges to sustained economic growth.Election Impact: The weak economic outlook is …

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• 28 June 2024 3:09 pm

  U.S. Stock Futures Rise, Capping Strong First Half, Ahead of Key Inflation Data

  

  U.S. stock index futures climbed on Friday, marking a robust first half of the year, as investors awaited the release of crucial inflation data that could influence the Federal Reserve’s interest rate decisions. Key Points: Market Performance: Dow Jones Futures rose 0.1%, S&P 500 Futures gained 0.4%, and Nasdaq 100 …

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• 28 June 2024 12:20 pm

  Gold Prices Tread Water Ahead of Crucial U.S. Inflation Data

  

  Gold prices experienced a slight dip in Asian trading on Friday, remaining within a tight range as traders favored the U.S. dollar in anticipation of key inflation data that could influence interest rates. Despite recovering from a dip below the $2,300 an ounce support level earlier in the week, gold …

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• 28 June 2024 10:30 am

  Oil Prices Climb on Supply Fears Despite U.S. Inventory Build, Strong Dollar

  

  Oil prices continued their upward trajectory in Asian trading on Friday, poised for substantial gains in June. This ascent was fueled by growing concerns over potential supply disruptions stemming from escalating geopolitical tensions in Russia and the Middle East, overshadowing fears of slowing demand despite a surprising increase in U.S. …

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• 28 June 2024 9:33 am

  Asian Stocks Shine in June, Buoyed by Fed Hopes and Tech Boom

  

  Asian markets concluded June on a high note, driven by optimism surrounding potential interest rate cuts by the Federal Reserve later this year due to a cooling U.S. economy. South Korea’s KOSPI index led the charge with an impressive 5.9% gain, boosted by the surging chipmaking sector and the growing …

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• 28 June 2024 4:27 am

  Market Drivers; US Session, June 27

  

  USD Retreats on Eve of PCE Data The US Dollar Index (DXY) pared back gains from its recent surge above 106.00, as cautious investors awaited the release of crucial US inflation data (PCE). The PCE figures, due on June 28th, will be the main focus, along with Personal Income, Spending, …

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• 28 June 2024 4:15 am

  What can markets expect from the PCE print?

  

  Market expectations are pointing toward a fresh decline in both headline and core Personal Consumption Expenditures (PCE) figures for the United States, set for release on Friday. Current projections suggest a possible drop in the headline PCE index to 2.6% for May, down from the previous month’s reading of 2.7%. …

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• 28 June 2024 3:10 am

  US Dollar Under Pressure Following Fresh Data

  

  The US dollar has been under downward pressure since the open of trading on Wall Street following the release of a batch of data that aligns with the Federal Reserve’s preferred trajectory.DXY PerformanceThe Dollar Index, which measures the performance of the US dollar against a basket of major currencies, fell …

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• 28 June 2024 12:30 am

  BlackBerry stock surges on positive earnings report

  

  BlackBerry stock has surged after its Q1 earnings report, surprising Wall Street by beating revenue expectations. The company’s revenue beat expectations, with a share revenue of 100 and 33 million, which was a narrower than expected quarterly loss. Companies are on track to be both profitable on a non-gap basis …

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• 27 June 2024 10:47 pm

  Gold climbs as USD falls, Treasury yields dip

  

  The XAU/USD Index has rebounded from a two-week low following inflation data from Canada and Australia. The Dollar Index (DXY) dropped 0.12% to 105.91, off a monthly high of 106.13. The Federal Reserve’s preferred gauge for inflation, the May PCE, is expected to decrease from 2.7% to 2.6% YoY, with …

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• 27 June 2024 9:49 pm

  CAD’s performance mixed as traders await GDP data

  

  The Canadian dollar experienced mixed performance on Thursday due to mixed US data. Canada is absent from the economic calendar until Friday’s GDP update for April, leaving CAD traders to shuffle. However, Friday’s US PCE Price Index inflation is set to eclipse Canadian GDP figures entirely, as a key reading …

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• 27 June 2024 9:22 pm

  Fed official: Rate cut likely in Q4

  

  Federal Reserve President Raphael Bostic expects to begin lowering interest rates later in 2024, stating that inflation doesn’t have to fall all the way to 2% for him to favor a cut. Bostic is currently monitoring progress toward the annual target of lowering interest rates, and sees plausible scenarios in …

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