Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 22 August 2024 1:22 am

  Market Drivers; US Session, August 21

  

  The US Dollar continued its downward trend, reaching levels last seen in late December 2023. This decline was primarily fueled by growing expectations for a September interest rate cut, as indicated by the Federal Open Market Committee (FOMC) minutes. Key Economic Events:Jackson Hole : This influential economic gathering kicks off …

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• 22 August 2024 12:50 am

  US Stocks Surge on Renewed Rate Cut Hopes after FOMC Minutes

  

  Wall Street closed modestly higher on Wednesday, with the S&P 500 and Nasdaq gaining over 0.4% and 0.5% respectively. The Dow Jones Industrial Average saw smaller gains of 0.14%. Advancing stocks outnumbered declining ones on both the NYSE and Nasdaq. The S&P 500 and Nasdaq set new 52-week highs, while …

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• 21 August 2024 10:42 pm

  EUR/USD surges to fresh 13-month high following FOMC Minutes

  

  On Wednesday, there was a sharp increase in the EUR/USD exchange rate, which culminated in fresh 13-month highs. Growing hopes that the Federal Reserve (Fed) would start a rate-cutting cycle in September are the main driver of this surge. These expectations were reinforced with the publication of the Fed meeting …

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• 21 August 2024 10:27 pm

  FOMC Minutes Showing Strong Consensus for September Rate Cut

  

  The latest Federal Reserve meeting minutes indicate a strong likelihood of a rate cut at the upcoming September meeting. The vast majority of FOMC participants expressed confidence that the recent economic data, including inflation and unemployment trends, support a reduction in interest rates. While caution was advised regarding the sustainability …

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• 21 August 2024 10:19 pm

  Gold Stabilizes Above $2,500 Following FOMC Minutes

  

  The recent minutes from the Federal Open Market Committee (FOMC) meeting indicate that the central bank is considering easing monetary policy in the near future. This sentiment has provided support to gold prices, which have remained relatively steady above the $2,500 level.Fed officials expressed increasing confidence in their ability to …

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• 21 August 2024 10:03 pm

  FOMC Minutes: Risk to inflation goal had eased

  

  According to the Minutes from the two-day session held on July 30-31, the vast majority of participants indicated it would likely be appropriate to ease policy at the next meeting if the data continued to align with expectations.Jerome Powell admits officials discussed a rate cut at July meeting The Fed …

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• 21 August 2024 8:41 pm

  Bitcoin climbs as analyst expect swinging performance until yearend

  

  Bitcoin climbed on Tuesday to nearly $61,000, mirroring gains in other risky assets. On Wednesday it surged further to the daily high of $61,782, and eventually stabilized around $61,100, up by around 3.4%. This rise is likely due to growing expectations of a Federal Reserve rate cut in September.However, Bitcoin …

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• 21 August 2024 7:38 pm

  What can markets expect from Jerome Powell’s Jackson Hole speech?

  

  The Fed is prepared to reduce key interest rates next month as a result of inflation getting closer to its 2% target, while officials at the Fed are now focusing on the state of the labour market because they are growing more optimistic about their ability to control inflation amid …

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• 21 August 2024 11:25 am

  Oil Prices Decline Amid Rising U.S. Crude Inventories and Easing Middle East Tensions

  

  Oil prices edged lower on Wednesday, influenced by growing U.S. crude inventories and indications that tensions in the Middle East may be easing after a diplomatic tour of the region by key mediators. Brent crude futures dipped by 11 cents, or 0.1%, to $77.09 a barrel by 0630 GMT, while …

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• 21 August 2024 10:25 am

  Dollar Hits Yearly Low Against Euro Amid Anticipation of U.S. Payrolls Revisions and Powell’s Speech

  

  The U.S. dollar slipped to its lowest level this year against the euro on Wednesday, as traders awaited crucial revisions to U.S. payrolls data later in the day and looked ahead to a significant speech by Federal Reserve Chair Jerome Powell at the end of the week. The dollar also …

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• 21 August 2024 9:38 am

  Gold Prices Steady After Record Highs as Rate Cut Bets Fuel Demand

  

  Gold prices stabilized in Asian trading on Wednesday, following a series of record highs earlier in the week. The yellow metal has been buoyed by increasing expectations of lower U.S. interest rates, which have weakened the dollar and driven more investment into gold. As of 00:51 ET (04:51 GMT), spot …

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• 21 August 2024 3:50 am

  Market Drivers; US Session, August 20

  

  The USD Index extended its decline and traded just pips away from the so-far yearly lows near 101.30. The weekly MBA Mortgage Applications are due on August 21 ahead of the publication of the FOMC Minutes and the weekly report on US crude oil inventories by the EIA. Sellers continued …

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• 21 August 2024 1:15 am

  US Dollar Under Pressure on Easing Market Bets

  

  The US Dollar, as measured by the DXY Index, has experienced a sharp decline, reaching its lowest point in seven months. This downturn is directly correlated with a parallel decrease in Treasury yields and an intensifying market expectation of substantial interest rate reductions by the Federal Reserve.Investor attention is currently …

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