Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2024

• 5 September 2024 7:39 pm

  Euro Loses Ground, Hits 1.1100 After Positive US ISM Services PMIs

  

  The euro has lost ground against the US dollar after reaching a high above 1.1100 earlier in the day. However, it’s still slightly up due to expectations of a Federal Reserve interest rate cut. The US dollar’s next major catalyst will be the August US Non-Farm Payroll report on Friday. …

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• 5 September 2024 1:51 pm

  U.S. Dollar Falls as Economic Concerns Fuel Expectations of Fed Rate Cut

  

  The U.S. dollar dropped to a one-month low against the yen and faced pressure from other major currencies on Thursday as concerns about the U.S. economic outlook fueled expectations of a substantial interest rate cut from the Federal Reserve in the coming week. The yen reached a one-month high earlier, …

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• 5 September 2024 11:58 am

  European Shares Dip Amid Caution Ahead of U.S. Labor Data

  

  European stocks continued their downward trend for the fourth consecutive session on Thursday, as investors remained cautious, awaiting key economic data from the eurozone and tracking U.S. labor market figures to assess the Federal Reserve’s future interest rate decisions. As of 0715 GMT, the pan-European STOXX 600 index dipped by …

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• 5 September 2024 2:44 am

  Market Drivers; US Session, September 4

  

  As markets anticipate a larger-than-expected rate cut by the Federal Reserve later this month, recent economic data suggests a slowdown in the US labor market, supporting the rate cut expectations. The Euro strengthened against the dollar as the US dollar’s value declined. Key economic indicators for the Eurozone, including factory …

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• 5 September 2024 1:46 am

  US equities face a downturn as September concerns materialize

  

  US stocks experienced a mixed session on Wednesday, with the S&P 500 and Nasdaq Composite slipping while the Dow Jones Industrial Average held steady. This comes amid ongoing concerns about economic growth and a sluggish start to September, a historically challenging month for markets.Nvidia’s recent market value plunge has reignited …

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• 5 September 2024 12:52 am

  USD/JPY Dives Deeper On Declining T-Yields

  

  The USD/JPY pair experienced a significant decline during the recent North American trading session, falling below the crucial 144.00 level, at 143.61 as of this writing This downward movement was primarily driven by a combination of factors, including weaker-than-expected US job market data, increased expectations of a potential interest rate …

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• 4 September 2024 11:39 pm

  XAU/USD Rises Following Weak US JOLTS Data

  

  Gold prices pushed higher during the North American session as the likelihood of a 50 basis point (bps) rate decrease by the Federal Reserve increased due to the US’s weaker-than-expected jobs statistics. In addition, the yield on US Treasury bonds decreased, which hurt the US dollar, which has an inverse …

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• 4 September 2024 10:58 pm

  Fed Beige Book: US Economy Shows Slowdown, But Hope Remains

  

  The Federal Reserve’s latest Beige Book paints a picture of a sluggish US economy. Released on Wednesday, the report found that economic activity stagnated or even declined in most regions. While job losses were uncommon, businesses are being cautious. Hiring slowed, with some companies opting for shorter shifts, leaving positions …

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• 4 September 2024 8:55 pm

  EUR/GBP Recovers As Technical Indicators Remain Cautious

  

  The EUR/GBP exchange rate has seen a rebound from its recent lows, with technical indicators suggesting a potential improvement. However, mixed signals from the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicate that the overall outlook remains neutral. The pair is likely to continue trading sideways in …

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• 4 September 2024 7:59 pm

  Job Openings Plummet to 3½-Year Low

  

  In a further indication of a weakening labor market, the U.S. Department of Labor reported on Wednesday that job openings declined to their lowest level in three and a half years. The closely watched Job Openings and Labor Turnover Survey (JOLTS) revealed that available positions fell to 7.67 million in …

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• 4 September 2024 6:45 pm

  BoC Governor Macklem: A 25 bps Rate Cut Was Appropriate

  

  Bank of Canada Governor Tiff Macklem held a press conference following the central bank’s third consecutive 25-basis point rate cut. Inflation may rise later in 2024, with potential for stronger-than-expected upward pressures. However, the overall weakness in the Canadian economy continues to drive inflation down. Recent data indicate some downside …

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• 4 September 2024 4:17 pm

  U.S. Oil Futures Rise Amid Hopes for OPEC+ Supply Limits Despite Demand Concerns

  

  U.S. oil futures edged higher on Wednesday, buoyed by expectations that OPEC+ may delay a planned output increase to support the market, which has been weighed down by concerns over sluggish demand growth. Oil Prices Climb As of 07:55 EST (11:55 GMT), West Texas Intermediate (WTI) crude oil futures rose …

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• 4 September 2024 2:27 pm

  Bitcoin Slips as U.S. Economic Data Fuels Concerns Over Potential Federal Reserve Rate Cut

  

  Bitcoin’s price declined on Wednesday as investors assessed the implications of weaker U.S. manufacturing data and anticipated key labor market reports that could influence the Federal Reserve’s upcoming interest rate decision. Investor sentiment was dampened by the latest results from the Institute for Supply Management (ISM), which showed a decline …

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