Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 9 October 2024 12:13 am

  Fed’s Collins Expects Other Rate Cuts As Long As Inflation Eases

  

  Boston Fed president Susan Collins said Tuesday that the central bank will likely need to cut interest rates further and that the next phase of monetary policy should focus on preserving the economy. Pointing to the consensus among her colleagues for two more 25 basis point rate cuts this year, …

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• 8 October 2024 11:00 pm

  Euro Attempts to Recover Following German Data

  

  The Euro is attempting to regain some of the ground it lost against the US Dollar in early morning trading on Tuesday, buoyed by positive economic data from Germany. This has managed to pull the Euro out of a six-day downward spiral. Germany’s industrial production index, a key indicator for …

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• 8 October 2024 9:43 pm

  Dollar recovers from Yen’s pressure

  

  The US dollar staged a modest recovery on Tuesday after facing pressure from the Japanese yen in the previous session. The greenback drew support from recent developments, including hawkish comments from Federal Reserve officials and improved economic data.St. Louis Federal Reserve President, Matthew Mosallam, stated that “the cost of premature …

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• 8 October 2024 8:35 pm

  Easing supply concerns drag crude oil price back

  

  Oil prices slumped by more than 4% early on Tuesday as traders have yet to see an actual supply disruption in the Middle East while focusing on China’s underwhelming demand again.Both benchmarks, WTI Crude and Brent Crude, were down by about 3% as of 9:30 a.m. EDT on Tuesday. The …

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• 8 October 2024 7:25 pm

  China’s disappointing stimulus size drags gold lower

  

  The (XAU/USD) Index exchanges hands in the $2,620s on Tuesday as the yellow metal reaches the floor of its familiar $50 range of recent weeks.Disappointment at the limited extent of fiscal stimulus announced by China on Tuesday is a headwind for Gold, since China is the world’s largest consumer of …

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• 8 October 2024 3:12 pm

  European Stocks Fall Amid Weak Wall Street Lead and Middle East Concerns

  

  European stock markets retreated on Tuesday, following the lead of Wall Street as investors reassessed U.S. interest rate expectations and grappled with ongoing tensions in the Middle East and regional economic concerns. By 03:05 ET (07:05 GMT), Germany’s DAX fell 0.7%, France’s CAC 40 dropped 1.2%, and the FTSE 100 …

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• 8 October 2024 1:20 pm

  Dollar Eases from Seven-Week Highs as Rate Cut Outlook Shifts

  

  The U.S. dollar eased slightly on Tuesday from near seven-week highs against major currencies, as investors reassessed the outlook for U.S. interest rate cuts. Geopolitical tensions in the Middle East, however, continued to support the dollar’s appeal as a safe-haven asset. The euro gained 0.2%, trading at $1.0992, after reaching …

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• 8 October 2024 10:57 am

  Asian Markets Decline Amid U.S. Rate Concerns, China Surges on Stimulus

  

  Most Asian markets fell on Tuesday, following Wall Street’s overnight weakness, as a strong U.S. labor market reinforced expectations that interest rates will remain high. However, Chinese markets bucked the trend, rallying sharply as trade resumed post-holiday and investors responded to Beijing’s stimulus measures. China Outperforms as Stimulus Boosts ConfidenceChinese …

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• 8 October 2024 10:02 am

  Gold Prices Hold Steady as Traders Await Fed Signals, Copper Falls on China Stimulus Concerns

  

  Gold prices remained stable in Asian trading on Tuesday after retreating from record highs, as investors reassessed the likelihood of smaller interest rate cuts by the Federal Reserve. Meanwhile, copper prices dropped sharply as Chinese markets reopened following a week-long holiday, with disappointment over Beijing’s implementation of its stimulus measures …

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• 8 October 2024 2:15 am

  Market Drivers; US Session

  

  The US Dollar Index (DXY) traded mixed on Monday as investors continued to grapple with rising geopolitical tensions in the Middle East and the implications of Friday’s strong jobs report. Despite higher US yields, the DXY remained near recent peaks above 102.00.Key Economic Events for Tuesday, October 8:US: NFIB Business …

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• 8 October 2024 1:05 am

  DXY Seen Softer Ahead of FOMC Minutes

  

  The US Dollar Index, which measures the value of the USD against a basket of currencies, witnessed a calm Monday session with mild losses, holding steady despite elevated levels near last week’s highs. Amidst ongoing Middle East tensions, market participants await key events this week, including the release of the …

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• 8 October 2024 12:02 am

  Dow Jones Hit By Risk Aversion

  

  The Dow Jones Industrial Average (DJIA) shed around 500 points on a shaky market Monday, with risk appetite shriveling on the back of decreased rate cut expectations and tensions in the Middle East running on the hot side. Markets expect less than 50 bps in further rate cuts from the …

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• 7 October 2024 10:59 pm

  CAD dragged lower on risk aversion

  

  The Canadian Dollar (CAD) backslid into long-term averages against the US Dollar on Monday, with markets opening up the new trading week notably on the back foot. Investors pulled back into the safety of the Greenback, sending the Canadian Dollar skidding into three-week lows. Meaningful economic data from Canada remains …

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