Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 9 July 2024 1:16 pm

  Oil Prices Stabilize as Hurricane Beryl Impact Less Severe Than Anticipated

  

  Oil prices remained relatively stable on Tuesday as the impact of Hurricane Beryl on a major U.S. oil-producing hub in Texas proved less severe than initially feared. The storm, which weakened into a tropical storm after making landfall, caused minimal disruption to major refineries along the U.S. Gulf Coast. Brent …

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• 9 July 2024 12:24 pm

  Gold Prices Rebound as Traders Anticipate Dovish Signals from Powell Testimony

  

  Gold prices climbed in Asian trade on Tuesday, recovering from overnight losses as investors eagerly awaited Federal Reserve Chair Jerome Powell’s upcoming testimony before Congress, hoping for indications of a potential interest rate cut. Gold’s Recent Gains and Rate Cut Expectations: The precious metal saw a notable increase last week, …

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• 9 July 2024 11:40 am

  Asian Stocks Mostly Climb on US Rate Cut Bets

  

  Asian stock markets experienced a mixed day on Tuesday, with most indices rising on growing expectations of lower U.S. interest rates. Japan’s Nikkei 225 index stole the spotlight, surging to a record high fueled by tech stock gains and a weakening yen. However, Chinese markets lagged behind due to persistent …

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• 9 July 2024 5:31 am

  Market Drivers; US Session, July 8

  

  The new trading week began with some respectable gains for the dollar, which shed some of its NFP-related weakness and gained some new momentum in reaction to the risk complex’s widespread knee-jerk. While this was going on, investors were processing the results of the French snap elections and progressively turned …

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• 9 July 2024 5:15 am

  How Have Key Assets react to France’s Elections?

  

  The French legislative elections drew mixed reactions from European fundamentalists, despite the fact that the results suggested the far right would not win power and therefore lower the risks associated with the political trend’s renowned economic ideas.By the end of the new trading week’s first day, the euro was up …

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• 9 July 2024 3:24 am

  Will China’s economic strategy address demographic challenges?

  

  The third plenum of the 18th Central Committee of the Chinese Communist Party in November 2013 marked a turning point in China’s population policy. The policy blueprint ended the country’s one-child policy, allowing couples to have a second child if either parent was an only child. This marked a watershed …

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• 9 July 2024 12:41 am

  Will bitcoin’s sharp selloff stop this week?

  

  The Bitcoin price is expected to skyrocket this week, as it struggles to sustain dominance at critical support levels. The selloff rally was gaining momentum, and the broader market sentiment has been fearful. However, some hope of a bullish reversal is starting to light up with lower price rejections and …

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• 8 July 2024 11:54 pm

  Exxon: Higher Oil Prices Consolidating Upstream Earnings

  

  In a preview of its Q2 results, the U.S. supermajor ExxonMobil said on Monday that it expects greater upstream profitability for the second quarter of the year compared to the first quarter of the year, perhaps reaching $700 million.Although there could be an additional $700 million in upstream earnings due …

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• 8 July 2024 10:51 pm

  How will gold price react if inflation hits 2%?

  

  Inflation has been a significant factor for the price of gold, with the Federal Reserve raising interest rates to combat it and keeping rates higher for longer for the same purpose. Gold prices have been strong, reaching a record high of over $2,400 in May, and have since fallen slightly …

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• 8 July 2024 10:29 pm

  Euro advances on French election results

  

  By the end of the first day of the new trading week, the euro was up because of the French election results, which revealed that the economy was moving away from the extreme right’s grip.The far right, which had won the first round, was content with third place, while the …

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• 8 July 2024 9:36 pm

  Fresh US Plan Targeting Russian Oil Revenues

  

  Treasury officials in President Biden’s Treasury Department have proposed new actions to cripple a fleet of aging oil tankers that are helping deliver Russian oil to buyers around the world in defiance of Western sanctions. The effort is aimed at punishing Russia but has stalled amid White House concerns over …

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• 8 July 2024 8:34 pm

  US Dollar looks for catalysts ahead of CPI data, Powell’s testimony

  

  the US Dollar was down 0.80% last week, now at lowest level since mid-June. Anticipation builds with the upcoming release of the June inflation figures and Fed talks.Market is pricing in less than 10% odds of a cut in July and around 80% in September. The US Dollar continues to …

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• 8 July 2024 7:42 pm

  BoE seen to hold Interest rates in August

  

  Interest rates in the UK are expected to be held again next month, rather than cut for the first time in over four years, according to Jonathan Haskel, a member of the Bank of England’s Monetary Policy Committee (MPC). The UK central bank has kept interest rates at a 16-year …

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