Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 27 May 2024 1:15 pm

  Dollar Holds Steady Amid Global Inflation Watch, ‘Carry’ Trade Dominates FX

  

  The dollar maintained its position on Monday, despite being on track for its first monthly loss this year. This pause comes as investors keenly await inflation data from the U.S., Europe, and Japan, which will shape the global interest rate outlook. In recent months, foreign exchange trading has been driven …

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• 27 May 2024 11:32 am

  European Markets Tread Cautiously Ahead of Inflation Data

  

  European stock markets opened the week on a subdued note, with many major markets closed for the holiday. Investors exercised caution ahead of crucial inflation data releases from both the U.S. and Europe, scheduled for later this week. The pan-European STOXX 600 index dipped slightly by 0.02% as of early …

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• 27 May 2024 10:25 am

  Asian Stocks Rebound, but U.S. Inflation Data Looms Large

  

  Asian stock markets staged a comeback on Monday, recovering some lost ground from the previous week. This upswing was fueled by a strong finish on Wall Street last Friday, particularly driven by gains in technology stocks that propelled the NASDAQ Composite to a record-high close. However, the anticipation of crucial …

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• 27 May 2024 9:19 am

  Gold Glitters Again, But Inflation Data Holds the Key

  

  After a week of losses, gold prices found their footing in Asian markets on Monday, sparking a glimmer of optimism amongst traders. This modest recovery comes as investors tread cautiously ahead of the crucial U.S. inflation data release this week. Market activity was relatively muted due to holidays in the …

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• 27 May 2024 7:47 am

  Financial Markets’ Weekly Recap: FOMC Minutes, Inflation Attract Most Attention

  

  The minutes of the latest Federal Reserve’s monetary policy meeting as well as inflation data attrac1ted most attention across trading markets for the week. The US dollar closed last week’s trading in an upward direction on the back of signals as well as messages included in FOMC Minutes for May’s …

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• 25 May 2024 12:18 am

  Oil Prices Recover Amid Improved Market Sentiment

  

  Amid broad market sentiment rebound, WTI crude oil bounced back above $77.55 per barrel, up 1.11%. Crude Oil markets are recovering despite ongoing concerns over US oversupply. Fed rate cut bets continue to get hammered by sticky inflation fears. US Crude Oil rebounded on Friday, recovering from a fresh 12-week …

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• 24 May 2024 10:23 pm

  Canadian Dollar Recovers Following Dismal Retail Sales

  

  The Canadian dollar has recovered some losses but remains down for the week. The data shows a further decline in Canada’s Retail Sales, limiting the recovery. Broad market risk appetite recovers after US inflation expectations ease. Canadian Retail Sales slid -0.2% MoM in March, missing the forecasted recovery to 0.0%. …

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• 24 May 2024 9:21 pm

  Forex Investors Focus on PCE, Statements by Fed Officials

  

  The improved sentiment in the dollar came in line with hawkish FOMC Minutes and another set of positive results from US fundamentals, all reinforcing the Fed’s tighter-for-longer narrative ahead of key PCE data and more statements by Fed officials.Despite Friday’s pullback, the dollar managed to reverse recent weakness and closed …

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• 24 May 2024 8:16 pm

  Policymaker: ECB’s first rate cut can be in June, second in September

  

  Bundesbank President Joachim Nagel has advised the European Central Bank (ECB) to exercise caution in its interest rate decisions. He suggests that the ECB should wait until September for any subsequent rate cuts after implementing a reduction in borrowing costs in June. This warning comes ahead of a crucial meeting …

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• 24 May 2024 7:01 pm

  G7 warns of China’s trade war risks

  

  European finance ministers from the Group of Seven major industrialized nations on Friday called on their countries to line up and adopt a unified stance in the face of China’s “unfair” industrial policies and also warned of the risks of a trade war in the wake of US sanctions and …

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• 24 May 2024 12:45 pm

  Oil Prices Stabilize Amid Fed Comments and U.S. Fuel Demand

  

  Oil prices held steady on Friday as investors weighed the latest remarks from the U.S. Federal Reserve regarding interest rates amid persistent inflation, while signs of robust seasonal U.S. fuel demand provided support. Brent crude futures edged up 5 cents to $81.41 a barrel by 0640 GMT, while U.S. West …

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• 24 May 2024 11:47 am

  European Stock Markets Dip Amid Interest Rate Concerns

  

  European stock markets declined on Friday, mirroring the global negative sentiment driven by worries over sustained high interest rates and their potential impact on economic activity. Market Performance At 03:10 ET (07:10 GMT), the DAX index in Germany traded 0.9% lower, the CAC 40 in France fell 0.6%, and the …

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• 24 May 2024 10:25 am

  Gold Steadies Amid Rate Jitters; Copper Stabilizes After Record Highs

  

  Gold Prices Steady in Asian Trade Gold prices steadied in Asian trade on Friday, but the yellow metal was nursing steep weekly declines due to persistent concerns over prolonged high U.S. interest rates. Spot gold rose 0.2% to $2,332.77 an ounce, while gold futures for June delivery fell 0.1% to …

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