Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 20 June 2024 12:02 pm

  Asian Markets Hold Steady, Awaiting U.S. Policy Signals and Key Central Bank Decisions

  

  Asian stocks maintained their position near a two-year peak on Thursday, as traders eagerly awaited further guidance on U.S. monetary policy. The Bank of England (BoE), Swiss National Bank (SNB), and Norges Bank (Norway’s central bank) were all set to announce their policy decisions, further shaping the global interest rate …

  Read More »
• 20 June 2024 3:06 am

  Market Drivers; US Session, June 19

  

  On Wednesday, investors remained mainly focused on the timing of Fed rate cuts. Attention will, next, shift to the BoE meeting as well as the flash PMIs readings.CurrenciesEUR/USD advanced marginally and managed to retest the 1.0750 zone amidst the irresolute price action in the US Dollar. On June 20, the …

  Read More »
• 20 June 2024 1:57 am

  Bitcoin steadies after selloff amid overall pressure on crypto assets

  

  Early on Wednesday, Bitcoin and other cryptocurrencies were gaining, recovering some of the losses from the selloff the day before. Over the last 24 hours, Bitcoin has increased by 0.2% to $65,505. The biggest cryptocurrency’s price has fallen since it reached a record high of around $74,000 in mid-March due …

  Read More »
• 20 June 2024 1:34 am

  Sterling rises as UK CPI interacts ahead of BoE decision

  

  As expected, UK inflation continues to fall following the release of economic data on Wednesday. This data pushed the pound sterling above 1.2700. However, steady growth in the UK services sector may lead the Bank of England to hold interest rates steady at its meeting today, June 20. Disappointing retail …

  Read More »
• 19 June 2024 11:41 pm

  WTI touches $81.00 amid holiday-thinned trading

  

  Despite US exchanges being closed on Juneteenth, WTI crude tested into new highs on Wednesday on light trade, trimming $81.00 per barrel as commodities drifted higher. As Crude Oil recovers from a recent swing low, WTI reached a new seven-week high and is expected to continue rising for a second …

  Read More »
• 19 June 2024 10:38 pm

  By Free Pass, Ethereum Survives Further Regulatory Scrutiny

  

  Ethereum has received a free pass from the US Securities and Exchange Commission (SEC) as the regulator decided to drop its investigation into the altcoin for allegedly selling the token as a security. SEC’s enforcement division has notified Ethereum developers that the investigation into Ethereum 2.0 is being closed. Thid …

  Read More »
• 19 June 2024 9:17 pm

  US Dollar consolidates gains amid remarks by Fed officials

  

  US Dollar pauses as investors dissect recent comments from Federal Reserve officials. Markets appear skeptical about the Fed’s guidance and continue to anticipate potential cuts in September. Fed officials’ cautious remarks limit downside in the US Dollar.On Wednesday, the US Dollar as measured by the DXY Index (DXY) remained relatively …

  Read More »
• 19 June 2024 8:09 pm

  Gold prices stabilize amid thin holiday trading

  

  Gold (XAU/USD) trades in a tight range in the $2,320s in quiet markets on Wednesday. A lack of risk sentiment and low holiday volume caps volatility in the safe-haven asset. The USD – to which Gold is negatively correlated – trades broadly unchanged and since US bond markets are closed …

  Read More »
• 19 June 2024 1:45 pm

  European Stocks Ease Despite UK Inflation Hitting Target; Nvidia Takes Crown as Most Valuable Company

  

  European stock markets experienced a slight decline on Wednesday, even as UK inflation returned to the Bank of England’s target, with trading activity subdued due to a U.S. holiday. The DAX index in Germany dipped 0.2%, the CAC 40 in France also fell 0.2%, and the FTSE 100 in the …

  Read More »
• 19 June 2024 12:23 pm

  U.K. Inflation Hits Central Bank Target, Raising Hopes for Rate Cuts

  

  In a significant development for the UK economy, inflation has finally fallen back to the Bank of England’s 2% target for the first time in nearly three years. This encouraging news has sparked hopes that the central bank may soon begin easing its monetary policy and cutting interest rates. The …

  Read More »
• 19 June 2024 9:18 am

  Oil Markets in Flux: Balancing Geopolitical Tensions with Demand Concerns

  

  Oil prices maintained a delicate equilibrium on Wednesday, caught between escalating geopolitical tensions in Europe and the Middle East and growing apprehension over a surprising build in U.S. crude inventories. The market remained cautiously optimistic, with Brent crude futures edging up by a marginal 2 cents to $85.35 a barrel, …

  Read More »
• 19 June 2024 3:17 am

  Data remains prerequisite for easing among cautiously optimistic Fed officials

  

  Six senior Federal Reserve officials from various regions made important statements today, Tuesday, adding to the ongoing discussion about future U.S. monetary policy. The economic agenda also featured presentations and discussions with Fed officials, including two voting members of the Federal Open Market Committee. The next Federal Open Market Committee …

  Read More »
• 19 June 2024 1:32 am

  GBP/USD gears up ahead of UK CPI inflation reading

  

  The GBP/USD pair is currently trading around 1.2700 as markets prepare for a lopsided Wednesday session with a US holiday and a fresh update on UK CPI inflation. The Bank of England’s interest rate call is expected on Thursday, and another rate hold is expected. Market sentiment was broadly pinned …

  Read More »