Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 18 July 2024 7:00 pm

  Fed’s Goolsbee: Inflation fight is not done but I feel a lot better

  

  In an interview with Yahoo Finance on Thursday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted that they have had multiple months of better inflation data. Goolsbee noted that he feels a lot better on inflation but added that the fight is not done yet.The US Dollar Index …

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• 18 July 2024 3:56 pm

  The Pound’s Ascent: A Year-Long High Amid Global Rate Shifts, But Can It Last?

  

  The British pound has soared to its highest point in a year, propelled by investors seeking attractive returns as global interest rates decline. However, financial experts warn that sustaining this momentum may require more than just elevated interest rates. Recent data reveals that UK inflation remains stubbornly high, prompting traders …

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• 18 July 2024 1:41 pm

  European Shares Rise on Energy Gains, ECB Decision Looms

  

  European shares experienced a modest rebound on Thursday, driven by gains in the energy sector, which offset declines in technology stocks. However, investor attention remained firmly fixed on the European Central Bank’s (ECB) impending interest rate decision. The pan-European STOXX 600 index edged 0.3% higher, breaking a three-day losing streak. …

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• 18 July 2024 12:58 pm

  Oil Prices Rise on Larger-Than-Expected Decline in U.S. Crude Stocks

  

  Oil prices continued to rise on Thursday, supported by a larger-than-expected decline in U.S. crude inventories, signaling strong demand from the world’s largest oil consumer. Brent crude futures rose 0.5% to $85.49 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 0.8% to $83.54, both building on gains from …

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• 18 July 2024 11:40 am

  Gold Prices Surge to New Heights Amid Rate Cut Optimism and Trade War Fears

  

  Gold prices continued their upward trajectory, hitting fresh record highs in Asian trading on Thursday. This surge was driven by a weakening dollar, fueled by growing expectations of U.S. interest rate cuts, as well as increasing safe-haven demand due to escalating trade tensions between the U.S. and China. Spot gold …

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• 18 July 2024 4:10 am

  Market Drivers; US Session, July 17

  

  The US Dollar declined to new four-month lows due to additional foreign exchange (FX) intervention by the Bank of Japan (BoJ), stronger expectations of rate cuts, and improved sentiment in risk-related assets.On Thursday, the European Central Bank (ECB) is likely to keep its policy rates unchanged, with investors closely monitoring …

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• 18 July 2024 3:56 am

  Explainer: Why oil recovers gain 2% after three declining days

  

  A larger-than-expected weekly decline in US crude stockpiles and a weaker US currency overcame hints of slower Chinese economic growth as oil prices rose by almost 2% on Wednesday. By 1:33 p.m. EDT (1733 GMT), Brent futures had increased by $1.35, or 1.6%, to $85.08 per barrel, while US West …

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• 18 July 2024 2:45 am

  GBP/JPY drops as rumors amid continued BoJ’s Yenterventions

  

  A return to 203.00 was seen in the GBP/JPY as markets began to expect further market intervention. On Wednesday, the Yen surged against the Pound Sterling by a whole percentage. This comes after a sharp 2% decrease and spike in BoJ spending last week. The GBP/JPY pair resumed its recent …

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• 18 July 2024 12:12 am

  XAU/USD retreats despite Fed rate cut expectations

  

  Gold prices have fallen to $2,457 after reaching an all-time high of $2,483 because of profit-taking. Fed officials, led by Governor Christopher Waller, signal potential rate cuts, suggesting a downward trend for the Fed funds rate. The US Dollar Index drops to 103.72, its lowest level since March 2024, while …

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• 17 July 2024 11:26 pm

  No ECB’s surprise rate cut in July as focus shifts to September

  

  In July, there won’t be any surprise rate cut, and all eyes are now on September. Following the June rate cut, the European Central Bank (ECB) is expected to keep interest rates unchanged during its July meeting. Policymakers emphasize that the June cut does not imply a linear reduction in …

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• 17 July 2024 10:18 pm

  Despite positive housing data, dovish Fed bets, US dollar retreats

  

  The US dollar saw a decline, falling to its lowest level since March. Federal Reserve wagers are still skewed toward a dovish position, which affects the USD. Robust housing data was unable to stop this trend.On Thursday, the US Dollar measured by the DXY index saw an extension in its …

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• 17 July 2024 9:09 pm

  Canadian dollar retreats as markets reassess BoC rate decision

  

  Investors are re-evaluating recent Canadian inflation data, causing the Canadian dollar to weaken ahead of the Bank of Canada’s crucial interest rate decision next week. While headline inflation dipped slightly, core inflation – a more reliable indicator of underlying price pressures – remained steady, raising concerns about a potential resurgence.BoC’s …

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• 17 July 2024 8:04 pm

  GBP/USD Surges After UK Inflation Data

  

  The British Pound (GBP) surged in value during Wednesday’s trading session in New York. This jump came after the UK’s statistics office (ONS) released inflation data for June that was higher than expected. The report showed that overall inflation and inflation excluding certain items (core inflation) both went up in …

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