Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 25 June 2024 11:34 pm

  Market Drivers; US Session, June 25

  

  Along with a respectable increase in US rates, the US dollar recovered some of the ground it had lost during Monday’s dismal session, and investors’ forecasts of a September and December rate drop remained unchanged. A modest increase in US rates helped the USD Index (DXY) overcome its Monday decline …

  Read More »
• 25 June 2024 10:54 pm

  US Stocks Mixed as Nvidia Rebounds, Tech Leads Gains

  

  Mixed performance was the expression that best describes Tuesday’s US stock market. The S&P 500 had a little increase, but the tech-heavy Nasdaq Composite saw a roughly 1% increase. Still, the Dow Jones Industrial Average dropped by almost 1%. This uneven performance came after the IT industry, especially Nvidia, a …

  Read More »
• 25 June 2024 9:56 pm

  Fed Leans Hawkish, Rate Cuts in 2024 Uncertain

  

  In 2024, the Federal Reserve changed its position on interest rates dramatically. The salient features are as follows: Rate-cut hopes are dampened by persistent inflation. Due to the ongoing high pace of inflation, initial expectations of three rate decreases this year have been drastically reduced. Fed officials who have previously …

  Read More »
• 25 June 2024 7:29 pm

  Tesla Tops Industry In Profit Per Vehicle Despite Faulty Cybertrucks

  

  Tesla has topped the auto industry in profit per vehicle for the year through March, with Tesla’s net profit being the highest among top automakers. Nine of 12 top global automakers made more money per vehicle in the year ended March than the previous year due to recovering supply chains …

  Read More »
• 25 June 2024 6:10 pm

  Gold prices in red territory ahead of PCE data

  

  Gold CFDs are -0.40% down, trading at $2323.40 and spot gold is -0.45% down, trading at $2323.97 at the time of writing. As traders await additional information and news before taking positions, the gold market is experiencing a muted sentiment. Further hints regarding the direction of US interest rates—which are …

  Read More »
• 25 June 2024 4:31 pm

  Dollar’s Yen Advance Halted by Intervention Fears

  

  The dollar’s relentless ascent against the yen faced a speed bump on Tuesday, as traders cautiously avoided breaching the 160 yen threshold due to growing concerns about potential intervention by Japanese authorities. Meanwhile, Bitcoin, the leading cryptocurrency, experienced a partial rebound after suffering its worst single-day loss in over two …

  Read More »
• 25 June 2024 1:50 pm

  Bitcoin Price Dips Further Amidst Regulatory Concerns and Inflation Fears

  

  Bitcoin’s downward trajectory continued on Tuesday, as the cryptocurrency grappled with a confluence of negative factors, including regulatory concerns, particularly surrounding U.S. actions and German government sales, coupled with broader risk aversion in the market. The world’s largest cryptocurrency slid 2.4% in the past 24 hours, reaching $61,332.0 by 01:22 …

  Read More »
• 25 June 2024 11:55 am

  Gold Prices Dip Amid Dollar Strength and Inflation Watch

  

  Gold prices retreated in Asian trade on Tuesday, remaining within a narrow band around the low $2,300s as a resilient dollar and anticipation of key U.S. inflation data dampened investor appetite for the precious metal. Despite a slight overnight dip in the dollar, the greenback held its ground, buoyed by …

  Read More »
• 25 June 2024 11:22 am

  Oil Prices Stabilize Amid Cautious Market Sentiment and Strong Summer Demand

  

  Oil prices remained largely unchanged on Tuesday, following a rise in the previous session. Investors are cautiously awaiting the release of U.S. consumer price data, which could influence interest rate decisions and subsequently impact oil demand. However, expectations of increased consumption during the peak summer driving season in the U.S. …

  Read More »
• 25 June 2024 10:49 am

  Asian Markets Recover Amidst Trade War Jitters and Inflation Watch

  

  Asian stocks bounced back on Tuesday, regaining some lost ground as investors cautiously awaited further developments in the potential trade war between China and the West. Upcoming inflation data also remained in focus, as it could provide clues about the future trajectory of interest rates. China’s Markets Stabilize, Trade Tensions …

  Read More »
• 25 June 2024 2:35 am

  Market Drivers; US Session, June 24

  

  The recent price surge in crude oil is a result of a combination of factors, including positive demand signals from the US and escalating geopolitical tensions in the Middle East and Ukraine. Unexpected draws in U.S. oil inventories and improved gasoline demand have painted a brighter picture for crude, while …

  Read More »
• 25 June 2024 1:27 am

  High Interest Rates Still Needed to Lower Inflation, Fed official Hints

  

  According to Fed official Mary Daly, higher interest rates are still required to reduce inflation and demand in the US economy. Though it’s unclear which scenario is more plausible, Daly thinks the Fed is prepared to act in response to both a deteriorating labour market and inflation staying above its …

  Read More »
• 25 June 2024 12:08 am

  Canada ponders fresh tariffs on imports of Chinese EVs

  

  Canada is considering imposing new import tariffs on electric vehicles from China. This move aligns with Canada’s efforts to secure a significant role in the global electric car supply chain. Deputy Prime Minister Chrystia Freeland cited concerns about China’s excess production of electric vehicles, which Canada argues creates unfair competition …

  Read More »