Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 27 June 2024 11:58 am

  European Stocks Flat as Investors Await Key Economic Data and French Elections

  

  European markets opened cautiously on Thursday, with the pan-European STOXX 600 index holding steady. Investors are refraining from significant moves ahead of critical U.S. inflation (PCE) data due on Friday, which could influence the Federal Reserve’s interest rate decisions. Consumer price data from France, Spain, and Italy this week, as …

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• 27 June 2024 10:47 am

  Bitcoin Slides Amid Mt. Gox Liquidation Fears and Looming Inflation Data

  

  Bitcoin’s price continued its downward spiral on Thursday, largely unmoved by reports that the U.S. Securities and Exchange Commission (SEC) might soon approve Ethereum-based exchange-traded funds (ETFs). Instead, fears of a massive sell-off stemming from the defunct exchange Mt. Gox, coupled with a strengthening dollar amid inflation concerns, weighed heavily …

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• 27 June 2024 9:41 am

  Asian Markets Tumble as Micron’s Guidance Casts Shadow on Tech Sector

  

  A wave of selling swept across Asian markets on Thursday, driven by a disappointing outlook from chipmaking giant Micron and renewed concerns about China’s economic health. The ripple effects were felt in tech-heavy sectors and beyond, with investors seeking refuge amid growing uncertainty. Micron’s Guidance Sparks Tech Rout Micron Technology …

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• 27 June 2024 3:48 am

  GBP/JPY touches fresh 16-year high for fourth day in a row

  

  The Yen’s decline continues, as the GBP/JPY pair rises to all-time highs. Japanese policymakers issue more pointed warnings in response to the collapsing JPY. Given the continued huge rate differential, market flows are unlikely to change. Wednesday saw the GBP/JPY pair achieve a record 16-year high, the fourth day in …

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• 27 June 2024 2:50 am

  Bank Stress Test: US Banks well positioned for severe recession

  

  The biggest US banks have enough capital to survive an economic disaster, according to the Fed’s annual bank stress test, but their position is weaker than it was a year ago. The purpose of the tests, which gained additional significance following the failure of three US banks last year, was …

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• 26 June 2024 9:34 pm

  Why is USD/JPY flashing Red warning lights?

  

  Japanese Yen nosedives after Kanda’s bleak response. Masato Kanda, the Japanese Ministry of Finance’s Vice Minister of Finance for International Affairs, stated at 13:15 GMT that the government is closely monitoring the foreign exchange markets and will take necessary action as necessary.Earlier during the US trading session, the Japanese Yen …

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• 26 June 2024 9:01 pm

  Dollar aims high on the back of T-yields

  

  The US Dollar extended recovery to Wednesday, reaching 106.00, its highest level since early May. Rising US Treasury yields lent support to the US currency. Week’s highlight remains June’s PCE inflation data due on Friday.Wednesday’s session witnessed the US Dollar, as represented by the Dollar Index (DXY), climb to 106.00, …

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• 26 June 2024 7:19 pm

  GBP/USD declines on stronger US dollar

  

  After battling at 1.2700, the GBP/USD pair drops as a result of the strong US dollar and poor US housing data. The technical picture is gloomy, with a “evening star” pattern and an RSI pointing to more decline. The 50-DMA at 1.2636, the 200-DMA at 1.2555, and the 1.2600 are …

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• 26 June 2024 3:50 pm

  Wall Street Futures Rise, Driven by Tech Rebound and Upbeat Corporate Outlook

  

  U.S. stock index futures climbed on Wednesday, continuing a recovery in the tech sector, led by a surge in Nvidia shares and an optimistic outlook from delivery giant FedEx. Dow Jones Futures held steady, while S&P 500 Futures gained 0.2% and Nasdaq 100 Futures jumped 0.3%, indicating a positive start …

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• 26 June 2024 2:25 pm

  Oil Prices Edge Higher on Supply Concerns and Strong Demand Outlook

  

  Oil prices continued their upward trajectory on Wednesday, approaching a two-month high, driven by expectations of dwindling inventories during the peak summer demand season and heightened geopolitical tensions in the Middle East. Market Dynamics Brent crude oil futures rose 0.7% to $85.64 a barrel, while U.S. West Texas Intermediate crude …

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• 26 June 2024 1:11 pm

  European Stocks Climb Amidst Anticipation for U.S. Inflation Data and French Elections

  

  European shares advanced on Wednesday, fueled by gains in mining and technology stocks, as investors eagerly awaited the release of crucial U.S. inflation data and the outcome of the French elections later in the week. The pan-European STOXX 600 index rose 0.4% by mid-morning, with the technology sector leading the …

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• 26 June 2024 12:06 pm

  Asian Stocks Waver as U.S. Inflation Data Looms and Yen Nears Critical Level

  

  Asian stock markets experienced a choppy trading session on Wednesday, as investors braced for a pivotal U.S. inflation report and kept a watchful eye on the yen, which hovered near the psychologically significant 160-per-dollar level, raising concerns about potential intervention by Japanese authorities. Market Sentiment and U.S. Rate Expectations Risk …

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• 26 June 2024 1:06 am

  Will the Australian dollar resume its uptrend?

  

  A report, by Credit Agricole Bank, contains expectations for the price movement of the Australian dollar in light of the monetary policy rhetoric that has been adopted by the interest rate statement by RBA and the statements of the central bank’s Chair following the announcement of keeping rates unchanged last …

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