Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 20 June 2024 11:40 pm

  S&P 500 retreats after briefly topping 5,500 for the first time ever

  

  The S&P 500 and Nasdaq Composite experienced a drop in volume on Thursday, with the broad market index falling 0.3% after briefly reaching the 5,500 level. Nvidia that temporarily unseated Microsoft as the most valuable public company, declined 3.4% after rising earlier in the session. Shares have climbed more than …

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• 20 June 2024 9:37 pm

  US Dollar climbs on rising treasury yields despite weak data

  

  US Dollar gets a boost from an increase in US Treasury yields on Thursday. Markets still show signs of caution as Fed officials express a conservative stance on embracing easing cycles.US Treasury yields saw a considerable rise, with gains exceeding 1%. The 2-year, 5-year and 10-year rates stood at 4.74%, …

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• 20 June 2024 7:57 pm

  Whales Drag Bitcoin 2.8% Lower After Nearing $66,400

  

  Bitcoin bulls’ hopes have been dashed once again as liquidity grabs erase the latest BTC price recovery. Bitcoin/USD was hitting $66,455 before the Wall Street open, but a slow grind beyond $66,000 evaporated before an abrupt about turn sent the pair a full $2,000 lower. Observers put the blame firmly …

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• 20 June 2024 3:39 pm

  Bank of England Holds Interest Rates Steady Despite Easing Inflation

  

  The Bank of England (BoE) maintained its benchmark interest rate at 5.25% on Thursday, despite a recent slowdown in inflation. This decision reflects the central bank’s cautious approach, as it continues to monitor underlying price pressures and robust wage growth. The Monetary Policy Committee (MPC) voted 7-2 to keep the …

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• 20 June 2024 1:48 pm

  Swiss National Bank Leads Global Policy Easing with Rate Cut, Signaling Confidence in Inflation Outlook

  

  The Swiss National Bank (SNB) reduced interest rates for the second consecutive time on Thursday, highlighting its confidence in easing price pressures and solidifying its position at the forefront of the global policy easing cycle. The central bank’s decision to cut its policy rate by 25 basis points to 1.25% …

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• 20 June 2024 12:59 pm

  European Stocks Rise on Tech and Real Estate Gains, Swiss Market Boosted by Rate Cut

  

  European shares experienced a positive trading session on Thursday, propelled by a surge in technology and real estate stocks. The pan-European STOXX 600 index rose 0.4% by mid-morning, with ASMI, a semiconductor equipment manufacturer, leading the charge in the tech sector after receiving an upgrade from Morgan Stanley. Switzerland’s benchmark …

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• 20 June 2024 12:02 pm

  Asian Markets Hold Steady, Awaiting U.S. Policy Signals and Key Central Bank Decisions

  

  Asian stocks maintained their position near a two-year peak on Thursday, as traders eagerly awaited further guidance on U.S. monetary policy. The Bank of England (BoE), Swiss National Bank (SNB), and Norges Bank (Norway’s central bank) were all set to announce their policy decisions, further shaping the global interest rate …

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• 20 June 2024 3:06 am

  Market Drivers; US Session, June 19

  

  On Wednesday, investors remained mainly focused on the timing of Fed rate cuts. Attention will, next, shift to the BoE meeting as well as the flash PMIs readings.CurrenciesEUR/USD advanced marginally and managed to retest the 1.0750 zone amidst the irresolute price action in the US Dollar. On June 20, the …

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• 20 June 2024 1:57 am

  Bitcoin steadies after selloff amid overall pressure on crypto assets

  

  Early on Wednesday, Bitcoin and other cryptocurrencies were gaining, recovering some of the losses from the selloff the day before. Over the last 24 hours, Bitcoin has increased by 0.2% to $65,505. The biggest cryptocurrency’s price has fallen since it reached a record high of around $74,000 in mid-March due …

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• 20 June 2024 1:34 am

  Sterling rises as UK CPI interacts ahead of BoE decision

  

  As expected, UK inflation continues to fall following the release of economic data on Wednesday. This data pushed the pound sterling above 1.2700. However, steady growth in the UK services sector may lead the Bank of England to hold interest rates steady at its meeting today, June 20. Disappointing retail …

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• 19 June 2024 11:41 pm

  WTI touches $81.00 amid holiday-thinned trading

  

  Despite US exchanges being closed on Juneteenth, WTI crude tested into new highs on Wednesday on light trade, trimming $81.00 per barrel as commodities drifted higher. As Crude Oil recovers from a recent swing low, WTI reached a new seven-week high and is expected to continue rising for a second …

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• 19 June 2024 10:38 pm

  By Free Pass, Ethereum Survives Further Regulatory Scrutiny

  

  Ethereum has received a free pass from the US Securities and Exchange Commission (SEC) as the regulator decided to drop its investigation into the altcoin for allegedly selling the token as a security. SEC’s enforcement division has notified Ethereum developers that the investigation into Ethereum 2.0 is being closed. Thid …

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• 19 June 2024 9:17 pm

  US Dollar consolidates gains amid remarks by Fed officials

  

  US Dollar pauses as investors dissect recent comments from Federal Reserve officials. Markets appear skeptical about the Fed’s guidance and continue to anticipate potential cuts in September. Fed officials’ cautious remarks limit downside in the US Dollar.On Wednesday, the US Dollar as measured by the DXY Index (DXY) remained relatively …

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