Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 31 July 2024 10:08 am

  Gold prices rise past $2,400 with Fed, Middle East tensions in focus

  

  Gold prices climbed in Asian trade on Wednesday, buoyed by a softer dollar as traders keenly awaited signals from the Federal Reserve on potential interest rate cuts. The precious metal also drew strength from safe haven buying amid escalating geopolitical tensions. Spot gold edged up 0.3% to $2,419.11 an ounce, …

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• 31 July 2024 5:23 am

  Will FOMC cut interest rate in July or just warm up for September meeting?

  

  FOMC meeting began on Tuesday amid hopes that Jerome Powell, Fed Chairman, could hint the timing or number of rate cuts at least until the end of 2024, this comes amid accelerating expectations that the Federal Open Market Committee will begin cutting rates in its meeting next September.These expectations are …

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• 30 July 2024 11:29 pm

  Bitcoin retreats, stoops to conquer selling pressure

  

  Bitcoin price started a downside correction taking it below $66,000. BTC is now correcting gains and might extend losses. Bitcoin struggled close to $70,000 and started a downside correction. The price is trading at $65,673; down 1.66%. There was a break below a key bullish trend line with support at …

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• 30 July 2024 10:15 pm

  US Dollar Holds Recent Gain Amid Promising Data, Ahead of FOMC Meeting

  

  US Dollar maintains momentum ahead of Fed decision and labor market update. US JOLTs and CB Consumer Confidence figures exceed expectations. Fed is expected to stay data-dependent and keep possibilities open for a September cut.The US Dollar, measured by the DXY index, is trying to continue its upward trend, but …

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• 30 July 2024 9:03 pm

  Tax cut sharply pushes gold demand in India higher

  

  Commodity researcher Carsten Fritsch reports that there is currently a noticeable upsurge in the demand for gold in India. The desire for gold intensifies. The demand for gold in India has significantly increased as a result of the removal of the import tax on the metal and the subsequent drop …

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• 30 July 2024 7:46 pm

  Pfizer Shares Leap Following Q1 Earnings

  

  Pfizer India reported a strong performance in the first quarter, with revenue and profit climbing significantly. Total revenue surged 7% to approximately $73.4 million USD while operating earnings before interest, tax, depreciation, and amortization (EBITDA) soared by 60.31% to $21.4 million USD. Consequently, net profit for the quarter skyrocketed by …

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• 30 July 2024 4:13 pm

  Eurozone Economic Growth Surprises, but Challenges Persist

  

  The Eurozone’s economy experienced a slight uptick in the second quarter, growing by 0.3%, as reported by Eurostat on Tuesday. This growth exceeded economists’ expectations and matched the growth rate from the previous quarter. However, underlying issues and a slew of pessimistic surveys suggest a challenging outlook for the remainder …

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• 30 July 2024 2:09 pm

  European Shares Remain Flat as Investors Await Key Economic Data

  

  European shares showed muted movement on Tuesday as investors held back, awaiting the outcome of the Federal Reserve’s monetary policy meeting and upcoming Eurozone inflation data. Despite the overall cautious sentiment, technology and oil stocks provided some support to the market. STOXX 600 IndexThe pan-European STOXX 600 index inched up …

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• 30 July 2024 11:40 am

  Dollar and Yen Trade Within Tight Ranges as Central Bank Meetings Loom

  

  The dollar and yen remained in narrow trading ranges on Tuesday as investors awaited crucial monetary policy decisions from the Bank of Japan (BOJ) and the Federal Reserve, which are expected to set the market tone for the coming weeks. Yen PerformanceThe Japanese yen paused its recent rally, which saw …

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• 30 July 2024 3:10 am

  Market Drivers; US Session, July 29

  

  The US dollar strengthened significantly on Monday, reaching its highest level in several days as investors adopted a cautious stance. Anticipation for upcoming central bank decisions and key economic data is driving market sentiment.Key Economic Indicators Today’s focus is on consumer confidence, alongside job openings data, house price index, and …

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• 30 July 2024 2:38 am

  Markets Struggle Amid Geopolitical Risks, FOMC Decision Outlook

  

  Global financial markets concluded the first trading day of the new week under the sway of mounting geopolitical tensions in the Middle East, which dampened risk appetite. This led to a decline in several risky assets by the end of Monday’s trading session. However, another factor intervened to balance investor …

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• 30 July 2024 2:00 am

  Gold Retreats From Recent Highs On Stronger US Dollar

  

  Following mixed economic data and the stronger US dollar which is in the green territory, up 0.23% and trades in the 104.569 neighborhood, the price of gold is finding it difficult to gain momentum. The dollar increased 0.2% ahead of this week’s pivotal Federal Open Market Committee’s meeting, and on …

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• 29 July 2024 11:36 pm

  Canadian Dollar softens on first day of trading week

  

  To begin the new week, the Canadian dollar weakened versus the major rival currencies. This week, Canada has a small presence on the economic calendar. The Canadian dollar is dependent on significant central bank appearances based on mid-tier statistics. Amidst market positioning in anticipation of the Federal Reserve’s anticipated rate …

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