Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 5 July 2024 1:28 pm

  Bitcoin Plummets to 4-Month Low Amid Mt Gox, Political Turmoil

  

  Bitcoin’s price took a nosedive on Friday, sinking to a four-month low as concerns over the impending distribution of stolen Bitcoin by the defunct crypto exchange Mt Gox intensified. The situation was further compounded by reports of German police moving $75 million of confiscated crypto onto exchanges, sparking fears of …

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• 5 July 2024 12:23 pm

  Gold Prices Continue Climb on Rate Cut Expectations, Awaiting Payrolls Data

  

  Gold prices continued their upward trajectory in Asian trading on Friday, building on recent gains as the dollar weakened ahead of crucial nonfarm payrolls data, which is expected to offer further insights into the future of interest rates. Key Points: Gold Gains Momentum: Spot gold rose 0.3% to $2,363.61 an …

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• 5 July 2024 11:39 am

  Asian Stocks Mixed Amid EU-China Trade Tensions, Samsung Boosts South Korea

  

  Asian stock markets presented a mixed picture on Friday. Chinese stocks declined due to new European Union tariffs on electric vehicle imports, escalating trade war concerns. Conversely, South Korean markets outperformed, driven by gains in Samsung Electronics, which reported a significant surge in Q2 profits, primarily attributed to increased demand …

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• 5 July 2024 3:56 am

  What do markets expect from US NFP data?

  

  The most important US labour data will be released later on Friday, amid expectations of a significant decline in job growth in the United States, with a stability in the unemployment rate, in addition to a limited decline in wage growth.On the first Friday of every month, the employment data …

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• 4 July 2024 10:15 pm

  DXY Declines On US Holiday

  

  The US dollar is facing further scrutiny in the wake of the depressing ADP and ISM Services PMI readings. Markets become more certain that the Fed will lower rates in September. Investor focus is now shifting to the June Nonfarm Payrolls data, which is due on Friday. The DXY Index, …

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• 4 July 2024 9:56 pm

  Sterling Surges ahead of UK elections, NFP data

  

  The Pound Sterling has strengthened against the US dollar as the US labour market loses momentum. Investors expect the Fed to begin lowering interest rates in September, and economists expect that the Starmer-led Labour Party will gain an absolute majority. The GBP/USD jumps higher amid growing speculation that the Fed …

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• 4 July 2024 8:46 pm

  Gold surges amid weaker US data, increased rate cut bets

  

  Gold has seen a significant increase in value as weak US data and a change in tone from Federal Reserve Chairman Jerome Powell have increased bets that the Fed will lower interest rates earlier than previously expected. Lower interest rates are positive for Gold as they reduce the opportunity cost …

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• 4 July 2024 2:16 pm

  Oil Prices Ease from Multi-Month Highs Amid Profit-Taking and Demand Concerns

  

  Oil prices dipped slightly on Thursday, retreating from their recent multi-month highs as investors took profits amid lingering demand concerns, despite a significant decline in U.S. inventories the previous week. Brent Crude and WTI Futures Decline Brent crude futures experienced a 0.49% decrease to $86.91 per barrel, while U.S. West …

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• 4 July 2024 12:48 pm

  Gold Steady at 10-Day High Amid Rate Cut Bets, Nonfarm Payrolls Awaited

  

  Gold prices held firm near a 10-day peak in Asian trading on Thursday, buoyed by increasing expectations of interest rate cuts by the Federal Reserve, which weakened the dollar and Treasury yields. However, the precious metal’s gains were tempered by hawkish signals from the Fed’s June meeting minutes and cautious …

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• 4 July 2024 11:19 am

  Bitcoin Plunges to Two-Month Low Amid Mt Gox Fears

  

  Bitcoin’s price plummeted to a two-month low on Thursday, breaching a crucial support level as traders remained cautious due to concerns over potential selling pressure, particularly from the defunct crypto exchange Mt Gox. Despite the weakening dollar, which usually supports Bitcoin, the world’s largest cryptocurrency saw a significant 3.2% drop …

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• 4 July 2024 10:03 am

  Dollar Struggles as Yen Nears 38-Year Low, Elections Grip Europe

  

  The dollar weakened on Thursday, pressured by recent signs of a slowing U.S. economy. This offered limited support to the embattled yen, which remained near a 38-year low against the dollar, raising concerns of potential government intervention. Meanwhile, the euro and sterling held near three-week highs against the dollar as …

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• 4 July 2024 9:24 am

  Asian Markets Rally on Fed Rate Cut Expectations, Japan Surges to Record Highs

  

  Asian stocks advanced on Thursday, fueled by Wall Street’s gains and mounting expectations that the Federal Reserve will reduce interest rates by September due to recent weak economic data. Japanese stocks led the charge, nearing record highs and recouping losses from the second quarter. Wall Street’s S&P 500 and NASDAQ …

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• 4 July 2024 7:05 am

  Market Driver; US Session, July 3

  

  The US dollar fell to multiday lows in the wake of another data-driven sell-off, which coincided with a general decline in US rates and the July 4 Independence Day holiday. The UK general elections are also anticipated to be actively watched by markets in the lead-up to the French second …

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