Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 29 August 2024 8:40 pm

  BTC Rebounds as Bulls Aim for $62,000 Ahead of Hoped PCE’s Relief

  

  Bitcoin price surged by 3% as US economic data aligned with expectations, boosting investor confidence. Amid a market environment characterized by thin liquidity and a potential for predatory behavior, Bitcoin bulls are targeting a price level of $62,000. The recent surge of 3% in BTC price, fueled by US macro …

  Read More »
• 29 August 2024 7:30 pm

  USD/JPY recovers ahead of PCE Inflation Data

  

  The USD/JPY pair recovered and is trading 0.44%, at 145.21 at the time of writing. Earlier on Thursday’s trading, the pair remains confined below the crucial resistance level of 145.00, reflecting a cautious stance from investors ahead of the highly anticipated US Personal Consumption Expenditure (PCE) inflation report for July. …

  Read More »
• 29 August 2024 1:58 pm

  U.S. Dollar Edges Higher Ahead of Key Economic Data; Euro Retreats on Cooling German Inflation

  

  The U.S. dollar gained ground on Thursday, recovering from recent lows as investors awaited key economic data releases that could provide insights into the Federal Reserve’s next moves. Meanwhile, the euro weakened due to signs of cooling inflation in Germany. Dollar Recovers from Recent Lows At 04:10 ET (09:10 GMT), …

  Read More »
• 29 August 2024 12:07 pm

  European Shares Edge Higher as Media and Tech Stocks Offset Global Dip

  

  European shares edged up slightly on Thursday, driven by gains in media and technology stocks, which helped the market buck a global downtrend following underwhelming results from Nvidia. STOXX 600 Index Rises Amid Mixed Sector Performance The pan-European STOXX 600 index gained 0.2% by 0712 GMT, buoyed by a 0.5% …

  Read More »
• 29 August 2024 11:21 am

  Bitcoin Steadies Amid Market Jitters as Traders Eye Key Economic Data

  

  Bitcoin’s price stabilized on Thursday after experiencing sharp declines earlier in the week. The world’s largest cryptocurrency remained in a narrow trading range as investors awaited critical economic data that could influence the Federal Reserve’s next interest rate decision. Bitcoin Holds Steady After Recent Declines After falling sharply on Tuesday …

  Read More »
• 29 August 2024 10:08 am

  Asian Shares Slide as Nvidia’s Earnings Disappoint, Dollar Steadies Ahead of U.S. Data

  

  Asian shares followed Wall Street futures lower on Thursday, with investor sentiment dented by Nvidia’s (NASDAQ: NVDA) less-than-anticipated earnings results. The tech-heavy index’s slip sent ripples through global markets, causing a broader selloff in Asian equities. Meanwhile, the U.S. dollar steadied, and the Treasury yield curve approached a positive turn, …

  Read More »
• 29 August 2024 9:27 am

  Gold Prices Climb in Asian Trade, Near Record Highs as Inflation Data Looms

  

  Gold prices rose in Asian trading on Thursday, edging closer to record highs as the U.S. dollar’s rebound cooled ahead of key inflation data. The yellow metal also benefited from safe haven demand, which was bolstered by disappointing earnings from NVIDIA Corporation (NASDAQ:NVDA) that shook global equity markets. Gold Holds …

  Read More »
• 29 August 2024 1:24 am

  Oil Prices Decline on Smaller-Than-Expected Drop in US Inventories

  

  Oil futures concluded Wednesday’s trading session in the red, influenced by a decline in U.S. oil inventories that was smaller than market expectations. Concerns over Chinese demand also weighed on prices, despite worries about potential supply shortages due to potential reductions in output from the Middle East and Libya.West Texas …

  Read More »
• 29 August 2024 12:19 am

  Nvidia: Q2 earnings exceed Wall Street expectations

  

  Nvidia has announced a significant $50 billion stock buyback. This decision was made by the company’s board of directors and was announced alongside the company’s fiscal second-quarter earnings, which exceeded Wall Street expectations.Nvidia has already returned $15.4 billion to shareholders through share repurchases and cash dividends during the first half …

  Read More »
• 28 August 2024 11:47 pm

  Fed’s Bostic: Inflation has more room to decline

  

  Federal Reserve Bank of Atlanta President Bostic has stated that inflation still has further to fall. He emphasized the need for the central bank to wait for additional data before considering interest rate cuts.Bostic expressed confidence in the solid state of employment, despite the historical context. He stressed the importance …

  Read More »
• 28 August 2024 9:58 pm

  BTC declines, ETH dashes hopes for a long-term upswing

  

  Ethereum’s recent price plunge has shattered hopes of a sustained uptrend. The cryptocurrency has fallen below its rising trendline, indicating a reversal of bullish momentum. Ethereum’s current price of approximately $2,400 is dangerously low for the second-largest cryptocurrency by market capitalization. This breakdown has pushed the asset below the critical …

  Read More »
• 28 August 2024 8:47 pm

  Oil Prices Remain Range-Bound Amidst Libyan Uncertainty

  

  Despite the potential for significant disruptions in Libyan oil supplies and heightened tensions in the Middle East, oil prices have remained relatively stable. Traders have largely discounted the threat of supply shortages, focusing instead on factors such as weak demand from China, the risk of a broader economic slowdown, and …

  Read More »
• 28 August 2024 7:37 pm

  EUR/USD: Rate Cuts, Economic Uncertainty in Volatile Dance

  

  The Euro has faced a tumultuous week, with its value against the US Dollar fluctuating significantly. This volatility can be attributed to a confluence of factors, including the European Central Bank’s (ECB) monetary policy stance, economic indicators, and market sentiment. The EUR/USD pair is trading at 1.1128 at the time …

  Read More »