Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 16 October 2024 2:02 pm

  European Tech and Luxury Stocks Slump Amid Disappointing Earnings and ECB Caution

  

  European tech and luxury stocks took a hit on Wednesday following weak earnings reports from key players like ASML and LVMH, adding to market jitters ahead of the European Central Bank’s (ECB) upcoming policy decision. The STOXX 600 index fell by 0.3%, pulling back further from a recent two-week high. …

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• 16 October 2024 12:41 pm

  U.S. Dollar Strengthens on Expectations of Modest Fed Rate Cuts, While Sterling Weakens on Inflation Data

  

  The U.S. dollar advanced on Wednesday, hovering near two-month highs as market expectations of modest Federal Reserve rate cuts supported the currency. Meanwhile, the British pound saw a significant drop after inflation data suggested a softer economic outlook. Dollar Gains Amid Adjusted Rate Cut Expectations The Dollar Index, which measures …

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• 16 October 2024 10:05 am

  Bitcoin Surges Amid Hopes for U.S. Regulatory Reforms and Increased Inflows

  

  Bitcoin’s price climbed on Wednesday, nearing a 2-½ month high, fueled by optimism that the 2024 U.S. elections could bring more favorable regulations for cryptocurrencies. The digital asset has also benefited from improving capital inflows, adding momentum to its upward trend. The world’s largest cryptocurrency appears to have broken free …

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• 16 October 2024 10:04 am

  Gold Prices Steady Near Record Highs Amid Fed Rate Cut Speculation

  

  Gold prices remained steady near record highs during Asian trading on Wednesday, recovering some recent losses as traders continued to bet on further interest rate cuts by the U.S. Federal Reserve. After hitting record highs in September, gold has since traded within a narrow range of $2,600 per ounce, with …

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• 16 October 2024 2:42 am

  Is Bitcoin Eying Significant Breakout?

  

  Analysis indicates a lack of demand-side pressure within the current Bitcoin price range. The Binary CDD metric, which measures the expenditure of holding time, reveals that long-term investors remain relatively inactive. This suggests that investor attention and new demand inflows have not seen a significant resurgence year-to-date.The lack of demand …

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• 16 October 2024 1:48 am

  Market Drivers, US Session

  

  A mildly positive session left the US Dollar trading near recent levels. Amidst a global decline in yields, market participants remained focused on signals from Federal Reserve officials regarding the potential trajectory of interest rates.Key points for Wednesday, October 16:US Dollar Index (DXY): The DXY hovered near the upper end …

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• 16 October 2024 12:28 am

  Gold Price Surges Amidst US Yield Decline

  

  Gold prices experienced a significant uptick on Tuesday, October 15, 2024, as the yield on US 10-year Treasury notes retreated. This decline, coupled with a weaker US Dollar, made gold more attractive to investors seeking a safe-haven asset.The primary catalyst for gold’s surge was the decrease in US Treasury yields. …

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• 15 October 2024 11:40 pm

  Oil Prices retreat Amid Weaker Demand, Eased Iran Concerns

  

  Oil prices dropped over 4% on Tuesday due to a weaker demand outlook and reduced concerns about a potential Israeli strike on Iranian oil facilities. Both OPEC and the IEA have lowered their global oil demand growth forecasts for 2024.Hedge funds are unwinding their net long positions in oil futures.Crude …

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• 15 October 2024 10:34 pm

  U.S. Treasury Yields Dip Following Daly’s Comments

  

  U.S. Treasury yields have been on a downward trajectory, influenced by a combination of domestic economic data and recent statements from Federal Reserve officials, notably those suggesting a more aggressive pace of interest rate cuts in the coming period.The yield on the 10-year Treasury note declined to 4.032%, compared to …

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• 15 October 2024 9:39 pm

  Global slowdown fears drag US stocks lower despite positive earnings

  

  US stocks experienced a decline on Tuesday, October 15th, as investors digested a series of corporate earnings reports, particularly from the banking and semiconductor sectors. The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite all fell by significant margins.Among the notable developments, Walgreens Boots Alliance saw a substantial increase …

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• 15 October 2024 8:48 pm

  Investors advised to open Certificate of Deposit Accounts Before Fed’s Meeting

  

  The Federal Reserve, the central bank of the United States, plays a crucial role in managing the country’s money supply and interest rates. When interest rates rise, it becomes more expensive to borrow money, while when they lower, borrowing becomes cheaper. Certificates of Deposit (CDs) are savings accounts that offer …

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• 15 October 2024 7:47 pm

  GBP/USD Surging Following Strong UK Jobs Report

  

  The British Pound (GBP) rallied against the US Dollar (USD) on Tuesday, following a robust UK jobs report that exceeded expectations. The unemployment rate declined, and the economy added over 373,000 jobs, boosting the GBP/USD by 0.18%.The strong UK jobs report has provided a boost to the GBP/USD. While the …

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• 15 October 2024 6:45 pm

  USD/CAD Rallies on Weaker Canadian Inflation Data

  

  USD/CAD Surges as BoC Faces Pressure to Ease RatesThe Canadian Dollar (CAD) weakened against the US Dollar (USD) following the release of cooler-than-expected Canadian inflation data. The Consumer Price Index (CPI) declined to 1.6% annually in September, from 2.0% in August, and below estimates of 1.8%.Lower Inflation Signals Rate CutsThe …

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