Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 15 May 2024 4:24 am

  Market Drivers; US Session, May 14

  

  Ahead of the release of US CPI on Wednesday, market players were analysing sticky US producer prices and Chair Powell’s lukewarm stance, which caused the US dollar to continue its dismal start to the week and retreat to multi-day lows. The USD Index (DXY) continued to fall on Monday, breaking …

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• 15 May 2024 4:16 am

  GBP/USD consolidates ahead of CPI data

  

  The GBP/USD pair has consolidated its gains above 1.2580 during the early Asian session, with the major pair holding above the key 100-day Exponential Moving Average (EMA) but still capped under the 1.2600 hurdle. The US Consumer Price Index and Retail Sales report for April will be in the spotlight, …

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• 15 May 2024 3:07 am

  CPI Preview: How Will US Inflation Data Influence Major Currencies?

  

  The looming CPI data for April 2024 is practically intriguing and warrants close analysis. Its potential impact on major currency performance in the forex market is significant. In this report, we will look closely into the background of this crucial inflation data and explore its implications for currency price action, …

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• 14 May 2024 10:33 pm

  Dow declines following US PPI data

  

  The Dow Jones Industrial Average slipped back to 39,320.00 on Tuesday after US Producer Price Index (PPI) inflation came in higher than expected. Market sentiment recovered and dragged the DJIA back to even. However, a double-header of US Consumer Price Index (CPI) inflation and Retail Sales are still loaded for …

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• 14 May 2024 9:25 pm

  Gold surges amid stronger safe haven appeal

  

  Because of its continued appeal as a safe haven to central banks and investors, gold continues to find support in the face of geopolitical risk aversion. Tuesday sees a stabilization of the gold price in the $2,350s, trading at $2,352.14, up +0.69% at the time of writing, as demand for …

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• 14 May 2024 7:54 pm

  EUR/USD rises as Powell emphasizes higher for longer rate policy

  

  Despite resolute US PPI data that heightens doubts about September Fed rate cuts, the EUR/USD pair rises just above 1.0800. April’s US annual PPI beat forecasts and monthly data exceeded expectations. With service inflation moderating to 3.7%, the Eurozone Price Index is expected to reach 2% again soon. In the …

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• 14 May 2024 6:59 pm

  Powell: PPI reading was quite mixed

  

  Federal Reserve Chairman Jerome Powell speaks at a moderated discussion with De Nederlandsche Bank (DNB) President Klaas Knot at the Foreign Bankers’ Association’s Annual General Meeting in Amsterdam. US Dollar stays under modest bearish pressure following these comments. At the time of press, the US Dollar Index was down 0.2% …

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• 14 May 2024 4:43 pm

  US PPI: April Records Yearly Increase

  

  The latest data from the US Bureau of Labor Statistics revealed that the Producer Price Index (PPI) for final demand in the United States witnessed a 2.2% rise yearly in April. This figure closely follows March’s increase of 1.8% (revised from 2.1%), aligning precisely with market expectations. The annual core …

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• 14 May 2024 2:41 pm

  Market Insights: Currency Moves Await U.S. Inflation Data

  

  Key Factors Driving Dollar Index The U.S. dollar steadied Tuesday, largely drifting ahead of the release of key inflation data that are likely to factor into the outlook for interest rates. At 03:30 ET (08:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, …

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• 14 May 2024 12:00 pm

  European Stock Markets Retreat Amid Corporate Earnings and Awaited US Inflation Reports

  

  European stock markets saw a modest retreat on Tuesday as investors absorbed corporate earnings updates and awaited the release of the latest US inflation reports. At 03:15 ET (07:15 GMT), Germany’s DAX index traded 0.1% lower, and France’s CAC 40 slipped 0.1%, while the UK’s FTSE 100 gained 0.1%. Despite …

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• 14 May 2024 10:49 am

  Gold Prices Rebound Slightly in Asian Trading Amid Focus on US Inflation Data

  

  Gold prices inched up in Asian trading on Tuesday, recovering from recent losses as market attention remained fixed on the impending release of US inflation data, which could provide further insights into the trajectory of interest rates. Despite showing some strength last week, gold remained below its record levels reached …

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• 14 May 2024 9:38 am

  Asia’s Stock Markets Tread Water Ahead of U.S. Inflation Figures

  

  Asian markets treaded cautiously on Tuesday, with most stocks maintaining a narrow range as investors awaited key U.S. inflation data, while Chinese markets faced pressure as another major property developer defaulted on bond payments. Reflecting a lack of decisive movements on Wall Street, regional markets exhibited subdued activity as traders …

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• 14 May 2024 3:33 am

  Q1 Financial Insights: A Global Market Overview

  

  In defiance of prevailing concerns over escalating interest rates and anticipated delays in their mitigation until mid-year, US stocks have orchestrated a resolute ascent since the dawn of 2024. Amidst a landscape where inflation remains static, yet optimism for its eventual ebb extends, the stock market has burgeoned, boasting a …

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