Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 17 June 2024 7:41 pm

  Gold prices continue to suffer from Fed’s rhetoric

  

  Gold prices have continued to decline since the beginning of trading on the first day of the new week’s trading, following in the footsteps of commodities that took a downward trend since the opening bell.Spot gold contracts fell to $2,318 per ounce, compared to the previous daily close, which recorded …

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• 17 June 2024 4:29 am

  Financial Markets’ Weekly Recap: Major central banks, inflation data in spotlight

  

  Investors and traders kept a close eye on the US inflation figures as well as the FOMC meeting in June. Due to the Fed’s aggressive approach, selling transactions took hold of gold prices immediately following the announcement that US interest rates would remain steady. Prior to the announcement of the …

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• 14 June 2024 2:38 am

  US Economy: From Recession Fears to Growth, What’s Next?

  

  The US economy surprised many analysts and investors in 2024 by shifting from early fears of a potential recession into a period of resilience and growth. The Federal Reserve, which initially expected to cut rates multiple times this year, has revised its stance to just one cut. So, what does …

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• 14 June 2024 12:56 am

  Moscow Exchange Halts Trading Euro, USD on Fresh US Sanctions

  

  The recent escalation in the US-Russian standoff has had a major impact on the Russian financial system. This comes after the US decided to impose a new batch of sanctions on June 12, targeting the Moscow Stock Exchange, the National Clearing Center and the National Settlement Depository, key players in …

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• 13 June 2024 11:21 pm

  USD/JPY edges up slightly despite falling US bond yields

  

  The USD/JPY recovered some ground during Thursday’s North American session yet is virtually unchanged, up by a minimal 0.08%, weighed by a fall in US Treasury bond yields. US economic data from the United States (US) shows that inflation is getting lower, yet the Federal Reserve remains skeptical that the …

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• 13 June 2024 9:52 pm

  Treasury yields decline following Powell’s comments on inflation

  

  US bond yields have been declining since the beginning of daily trading on Thursday, affected by expectations of a rate cut, which highlighted the possibility of limiting the rate cut to only once this year.Ten-year US Treasury bond yields fell to 4.232% compared to the last daily close, which recorded …

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• 13 June 2024 8:39 pm

  Official: BoC to end quantitative tightening in 2025

  

  Bank of Canada’s Deputy Governor Sharon Kozicki noted on Thursday that the BoC is set to end its quantitative easing program and that future applications of QE will have a very high bar to pass before accessing additional monetary policy mechanisms.The Canadian Dollar pared back recent gains against the US …

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• 13 June 2024 7:03 pm

  Producer inflation data drags Dow Jones lower

  

  The Dow Jones Industrial Average tumbled another 150-plus points on Thursday after US data hinted at a further contraction of the overall economy, briefly sparking risk-off bids into the US dollar and forcing Treasury yields lower alongside equity indexes. The Dow Jones backslides over 150 points on Thursday. Treasury yields …

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• 13 June 2024 4:56 pm

  U.S. Jobless Claims Rise Unexpectedly, Signaling Cooling Labor Market

  

  The number of Americans filing for initial unemployment benefits unexpectedly rose last week, indicating a potential slowdown in the labor market’s momentum. Initial jobless claims reached 242,000 for the week ending June 8th, surpassing the consensus forecast of 225,000 and exceeding the previous week’s total of 229,000. The four-week moving …

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• 13 June 2024 1:29 pm

  Oil Prices Dip as Fed Delays Rate Cut and Supply Concerns Linger

  

  Oil prices experienced a slight decline in early Thursday trading, reacting to the U.S. Federal Reserve’s decision to postpone interest rate cuts and growing concerns over ample U.S. crude and fuel stocks. Brent crude futures dipped 0.5% to $82.23 per barrel, while U.S. West Texas Intermediate (WTI) crude futures fell …

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• 13 June 2024 12:36 pm

  Dollar Dips as Traders Weigh Fed’s Hawkish Tone Against Benign Inflation

  

  The U.S. dollar retreated on Thursday, as market participants wrestled with the contrasting signals of subdued U.S. inflation and a more hawkish stance from the Federal Reserve. The Dollar Index, measuring the greenback against a basket of major currencies, dipped 0.3% to 104.340, easing from its recent mid-May peak. This …

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• 13 June 2024 11:39 am

  Europe’s Stock Markets Stumble: Hawkish Fed Casts Shadow on Global Monetary Policy

  

  European stock markets took a hit on Thursday as the aftershocks of the U.S. Federal Reserve’s hawkish stance sent ripples across the financial landscape. Investors were left to grapple with the prospect of fewer U.S. rate cuts than anticipated, casting a shadow over global monetary policy easing. At the heart …

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• 13 June 2024 5:58 am

  USD/JPY climbs cautiously ahead of BoJ meeting

  

  On early Thursday, dollar bulls tested the USD/JPY market, but their excitement quickly faded. This cautious attitude reflects the nervousness of investors as they anxiously await the Bank of Japan’s policy announcement. The US Federal Reserve’s hawkish turn eclipsed the less-than-expected US inflation numbers, giving the dollar a little boost.Due …

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