Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 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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• 27 June 2024 7:40 pm

  Walgreens earnings miss market expectations

  

  Walgreens reported fiscal earnings that fell short of expectations and slashed its full-year adjusted profit outlook due to a “challenging” environment for pharmacies and US consumers. The company topped revenue estimates for the quarter on strong performance in its health-care segment, as the results come as Walgreens works to slash …

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• 27 June 2024 3:31 pm

  Toyota Motor Corp. Reports Fourth Consecutive Decline in Global Sales Amidst Challenges

  

  In a press release issued today, Toyota Motor Corp., the world’s leading automaker by sales volume, announced a 2.0% year-on-year decline in global sales for the month of May. This marks the fourth consecutive month of declining sales for the company. Key Figures: Global Sales: Decreased by 2.0% to 888,491 …

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• 27 June 2024 2:40 pm

  Oil Prices Rise Amid Middle East Tensions, Despite Unexpected US Inventory Build

  

  Oil prices rebounded on Thursday, defying concerns over a surprise increase in U.S. crude stockpiles, as escalating geopolitical tensions in the Middle East raised concerns about potential supply disruptions. Brent crude futures, the international benchmark, climbed 0.9% to $86.01 a barrel, while U.S. West Texas Intermediate crude futures also rose …

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• 27 June 2024 1:24 pm

  Dollar Dips, Yen Weakened to Intervention Territory as Focus Shifts to Economic Data and Political Events

  

  The U.S. dollar retreated slightly in early European trading Thursday, relinquishing some of the previous session’s gains, while the Japanese yen continued its downward trajectory, reaching levels that could prompt intervention from authorities. Key Takeaways: Dollar Eases: The Dollar Index, which measures the greenback against a basket of six major …

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• 27 June 2024 11:58 am

  European Stocks Flat as Investors Await Key Economic Data and French Elections

  

  European markets opened cautiously on Thursday, with the pan-European STOXX 600 index holding steady. Investors are refraining from significant moves ahead of critical U.S. inflation (PCE) data due on Friday, which could influence the Federal Reserve’s interest rate decisions. Consumer price data from France, Spain, and Italy this week, as …

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• 27 June 2024 10:47 am

  Bitcoin Slides Amid Mt. Gox Liquidation Fears and Looming Inflation Data

  

  Bitcoin’s price continued its downward spiral on Thursday, largely unmoved by reports that the U.S. Securities and Exchange Commission (SEC) might soon approve Ethereum-based exchange-traded funds (ETFs). Instead, fears of a massive sell-off stemming from the defunct exchange Mt. Gox, coupled with a strengthening dollar amid inflation concerns, weighed heavily …

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• 27 June 2024 9:41 am

  Asian Markets Tumble as Micron’s Guidance Casts Shadow on Tech Sector

  

  A wave of selling swept across Asian markets on Thursday, driven by a disappointing outlook from chipmaking giant Micron and renewed concerns about China’s economic health. The ripple effects were felt in tech-heavy sectors and beyond, with investors seeking refuge amid growing uncertainty. Micron’s Guidance Sparks Tech Rout Micron Technology …

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• 27 June 2024 3:48 am

  GBP/JPY touches fresh 16-year high for fourth day in a row

  

  The Yen’s decline continues, as the GBP/JPY pair rises to all-time highs. Japanese policymakers issue more pointed warnings in response to the collapsing JPY. Given the continued huge rate differential, market flows are unlikely to change. Wednesday saw the GBP/JPY pair achieve a record 16-year high, the fourth day in …

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