Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 11 May 2024 2:29 am

  Gold advances, ignores stronger US Dollar following soft US data

  

  Gold advances on weaker than expected US data despite strong US Dollar Gold rebounds from daily lows, with the assistance of a significant push by a sharp drop in US consumer sentiment and future economic outlook. High US Treasury yields weren’t an excuse for Gold’s advance. US consumers expect inflation …

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• 11 May 2024 12:51 am

  Why is Boeing Attracting Investors’ Attention?

  

  Recently, Boeing has drawn attention from investors and is regularly included in lists of the most-searched stocks. Taking into account both historical and current data, let’s examine the main variables influencing Boeing’s stock performance.Stock Performance in FocusBoeing’s stock has done better than the market as a whole this month, rising …

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• 10 May 2024 9:51 pm

  US Dollar closes the week slightly higher as focus shifts to CPI data

  

  With modest gains on Friday, the US Dollar Index, DXY, closed the week marginally higher. In order to assess the state of the US economy and any potential changes to Fed projections, markets are expecting additional economic data. While investors anticipate the next Federal Reserve’s decisions, the value of the …

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• 10 May 2024 5:59 pm

  USD/CAD sharply declines on strong Canadian jobs data

  

  Following solid Canadian employment figures, the USD/CAD pair plunges impulsively to 1.3636, down -0.30%. On the Canadian front, the number of new payrolls increased by 90.4K, but the rate of annual wage growth decreased to 4.8%. According to Fed’s Bostic, the central bank is unsure about the best time and …

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• 10 May 2024 4:00 pm

  U.S. Futures Rise as Investors Eye Fed Speeches and Data

  

  U.S. stock index futures climbed on Friday, driven by investor anticipation of speeches from Federal Reserve officials and awaited economic data, amidst a backdrop of increased bets on U.S. interest rate cuts. Market Overview After recent economic data bolstered expectations of U.S. interest rate cuts, U.S. stock index futures pointed …

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• 10 May 2024 1:15 pm

  Dollar Steadies as Labour Market Cools, Pound Rises on UK Economic Growth

  

  On Friday, the dollar found its footing after experiencing overnight losses fueled by U.S. data signaling a cooling labour market. Meanwhile, the British pound edged higher following robust first-quarter economic performance in the UK. Dollar Performance Against the Japanese yen, the dollar regained some ground, trading at 155.68 yen, marking …

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• 10 May 2024 12:06 pm

  Gold Prices Rally as Dollar Weakens Amid Cooling Labor Market and Geopolitical Tensions

  

  In the realm of precious metals, gold emerged as the shining star in Asian trade on Friday, extending its overnight gains amidst a backdrop of significant market shifts. A notable weakening of the U.S. dollar and Treasury yields provided a robust tailwind for the yellow metal, sending its prices soaring. …

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• 10 May 2024 10:36 am

  Turkish Central Bank revises inflation forecasts upward, vows to maintain containment efforts

  

  On Thursday, the Turkish Central Bank revised its inflation forecast for the end of the year, projecting it to reach 38 percent. Governor Fatih Kara Khan emphasized the bank’s commitment to taking decisive measures to prevent further deterioration in inflation, reaffirming its stance on tightening monetary policy. Presenting the quarterly …

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• 10 May 2024 9:41 am

  Nikkei gives up early gains after chip industry-related stocks decline

  

  On Thursday, the Japanese Nikkei index struggled to maintain its early gains and ultimately closed lower, primarily due to a decline in shares of companies associated with the chip industry. Tokyo Electron shares, in particular, faced selling pressure following disappointing annual revenue estimates from British chip design company Arm Holdings, …

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• 10 May 2024 5:34 am

  Will Ethereum and Bitcoin quietly gain fresh momentum?

  

  The previous few weeks have seen a turbulent ride for cryptocurrencies, with unexpected lows and tremendous highs. Nevertheless, new information indicates that Ethereum and Bitcoin may be quietly making a comeback, even though their ascent may not be as high as initially anticipated. Bitcoin Price Performance in a month to …

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• 10 May 2024 2:54 am

  Market Drivers; US Session, May 9

  

  The USD Index (DXY) gave up some of its recent gain amid lower yields across the curve due to a data-driven sell-off. The BoE furthered the policy divide between the Fed and its G10 counterparts by holding rates steady and paving the way for a rate cut earlier than expected. …

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• 10 May 2024 1:36 am

  Japan’s Suzuki: Appropriate actions will be taken on Foreign Exchange if needed

  

  Shunichi Suzuki, the finance minister of Japan, stated on Friday that he will be closely monitoring the foreign currency (FX) move and that, if necessary, he will take the appropriate action. The Japanese Yen (JPY) shows little to no market reaction to the verbal intervention. As of this writing, the …

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• 9 May 2024 11:40 pm

  Sterling retreats after BoE paved way for rate cut

  

  On Thursday, the British blue-chip stock index set a record as the Bank of England moved closer to reducing interest rates, with a second official endorsing the move. Meanwhile, the pound sterling and UK bond yields declined. Sterling hit a two-week low of $1.2446, down as much as 0.4% vs …

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