Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 14 October 2024 9:53 am

  Gold prices muted; copper weakens

  

  Gold prices steadied in Asian trade on Monday as traders awaited more cues on U.S. interest rates from upcoming Federal Reserve speakers this week, while expectations of a November rate cut remained in focus. In the industrial metals market, copper prices dipped due to underwhelming signals on fiscal stimulus from …

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• 14 October 2024 5:29 am

  Weekly Wrap: ECB, Earnings Reports in Focus

  

  Global financial markets closed the week ending on Friday, October 11, with risk assets advancing over safe haven assets after US inflation data that highlighted a decline in price growth that would weigh heavily on interest rate cuts in the coming period. Markets are also awaiting developments in monetary policy …

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• 14 October 2024 3:37 am

  What markets can expect after a volatile week

  

  The second week of October trading began with optimism in North American equity markets despite increased Middle East tensions, ongoing war in Ukraine, a stronger than expected American economy, and weaker than expected numbers from China. China: The National Development & Reform Commission (NDRC), China’s state planner, stated that the …

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• 12 October 2024 12:06 am

  USD/JPY Consolidation Continues

  

  The USD/JPY pair is currently trading within a narrow range of 148.00 to 149.50, indicating a period of consolidation. While there is a slight upward bias, the pair has not yet broken out of this range. From a technical perspective, the momentum is currently bullish, but the Relative Strength Index …

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• 11 October 2024 11:21 pm

  Explainer: How Bank Earnings Boost Market Sentiment

  

  The S&P 500 and the Dow Jones Industrial Average reached new all-time highs on Friday, driven by a confluence of factors, including strong financial sector earnings, expectations of a Federal Reserve interest rate cut, and a generally positive economic outlook. Strong Bank Earnings: JPMorgan Chase and Wells Fargo: These two …

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• 11 October 2024 10:34 pm

  DXY remains unchanged following consumer sentiment data

  

  Dollar Remains Resilient Amidst Mixed Economic SignalsThe US Dollar continued to exhibit remarkable strength on Friday, even as mixed economic data emerged. While the Producer Price Index (PPI) for September came in slightly hotter than anticipated, suggesting persistent inflationary pressures, the preliminary reading of the University of Michigan Consumer Sentiment …

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• 11 October 2024 8:47 pm

  Middle East Conflict, OPEC+linked Hopes Prevent Sharp Oil Correction

  

  Notwithstanding concerns surrounding a wider Middle East war, which could disrupt oil flows from the region, China stimulus disappointment and OPEC+ producer plans to bring barrels back in the coming months have put the crude oil market at risk of a sharp correction. The pending surplus in early-2025, stemming from …

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• 11 October 2024 7:17 pm

  XAU/USD rallies after weak US economic indicators

  

  Gold (XAU/USD) extends its rally, trading in the $2,650s on Friday, after the release the the preliminary Michigan Consumer Sentiment Index showed a slide in sentiment in October. The Michigan Consumer Sentiment Index fell to 68.9 in October from 70.1 in the previous month and was below estimates of 70.8, …

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• 11 October 2024 3:16 pm

  U.S. Stock Futures Slip as Investors Await Bank Earnings and Inflation Data

  

  U.S. stock index futures edged lower on Friday as investors braced for the release of key bank earnings reports and another inflation reading, with potential implications for the Federal Reserve’s monetary policy. As of 05:40 ET (09:40 GMT), Dow Jones Futures dropped 95 points (0.2%), S&P 500 Futures fell 17 …

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• 11 October 2024 11:22 am

  European Markets Edge Lower Amid Mixed Economic Data and U.S. Earnings Season

  

  European stock markets traded slightly lower on Friday, as investors digested disappointing British growth data while awaiting key U.S. bank earnings and an anticipated fiscal policy briefing from China. As of 03:10 ET (07:10 GMT), Germany’s DAX index fell 0.1%, France’s CAC 40 dropped 0.1%, and the FTSE 100 in …

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• 11 October 2024 10:41 am

  Gold Extends Gains Amid Mixed U.S. Economic Data, Dollar Weakness Supports Broader Metal Prices

  

  Gold prices continued to rise in Asian trade on Friday, building on overnight gains as stronger-than-expected U.S. inflation data was balanced by weaker labor market figures. This dynamic helped boost broader metal markets, with copper and other industrial metals benefiting from the softer dollar and anticipation of fiscal stimulus cues …

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• 11 October 2024 10:40 am

  U.S. Dollar Dips Amid Mixed Economic Signals, But Stays on Track for Weekly Gains

  

  The U.S. dollar retreated from its recent two-month highs against major currencies on Friday, as signs of weakness in the labor market increased the likelihood of quicker Federal Reserve rate cuts. Despite this dip, the dollar is set to post its second consecutive weekly gain, bolstered by strong payroll figures …

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• 11 October 2024 1:30 am

  American Session’s Market Drivers: US Inflation Remains in Focus

  

  The US Dollar continued its upward trajectory, driven by sticky inflation data and hawkish comments from Federal Reserve officials. Investors are closely watching upcoming inflation metrics, including Producer Prices and Consumer Sentiment, for clues about the Fed’s future monetary policy.Key Points:US Dollar Strength: The US Dollar Index (DXY) reached new …

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