Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 26 July 2024 3:34 am

  Market Drivers; US Session, July 25

  

  The US Dollar Index held near 104, influenced by yen movements and rate cut speculation. The release of PCE data, personal income, personal spending, and the final Michigan Consumer Sentiment is expected to impact the dollar.The euro recovered recent losses, trading near 1.0870 against the dollar. The ECB’s Consumer Inflation …

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• 26 July 2024 2:47 am

  Will PCE Be A Green Light for Rate Cut In September?

  

  The economic landscape is shifting as evidence of cooling inflation becomes increasingly apparent. The June Personal Consumption Expenditures (PCE) Price Index report, a key metric closely watched by the Federal Reserve, is anticipated to reflect continued moderation in price growth. This positive trend, driven by factors such as declining gas …

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• 25 July 2024 11:29 pm

  What Could Make the Trump Presidency Mostly Bearish for Crude Oil?

  

  Analysts predict that a second Donald Trump presidency after the election on November 5th would be generally negative for the oil market, albeit it would probably have a limited impact. Even while Trump seems to have a more pro-oil and gas agenda than a Democratic contender, it would take a …

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• 25 July 2024 10:27 pm

  Gold Loses Shine As Investors Eye US Data

  

  Gold prices tumbled on Thursday, dropping over 1.67% to reach their lowest point in two weeks. This decline comes as investors shift their focus from safe-haven assets to upcoming US economic data, particularly the Personal Consumption Expenditure (PCE) data due on Friday. The precious metal is trading at $ 2,357.5 …

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• 25 July 2024 9:14 pm

  DXY Losses Curbed Following Encouraging GDP Figures

  

  US Dollar DXY reduced losses on strong Q2 GDP data. The US economy seems to be holding up, but dovish bets on the Fed are still in place. The Fed continues to take a data-dependent approach in the interim and holds off on making any cuts very soon. Following a …

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• 25 July 2024 7:02 pm

  ‘Sales plan’ pushes American Airlines to slash earnings forecast

  

  American Airlines has slashed its profit forecast for the year due to a backfired sales plan and an industry-wide glut of flights. The carrier’s profit fell 46% during the second quarter, even though revenues rose. The company expects to earn an adjusted 70 cents to $1.30 per share this year, …

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• 25 July 2024 2:48 pm

  Dollar Weakens Ahead of GDP Data, Yen Strengthens on BOJ Speculation

  

  The U.S. dollar continued to weaken on Thursday, with the Dollar Index, which measures the greenback against a basket of six other currencies, dropping 0.2% to 103.950 as of 05:25 ET (09:25 GMT). This decline extended the dollar’s losses from the previous session. Dollar Retreats Ahead of Key Economic Data …

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• 25 July 2024 12:09 pm

  Nissan Motor’s Q1 Profit Plummets and Annual Outlook Slashed

  

  Nissan Motor’s first-quarter financial results took a significant hit on Thursday, with nearly all of its profit wiped out due to aggressive discounting strategies in the United States. The company’s results fell well below analyst expectations, causing its shares to drop 7%. For the April-June period, Nissan reported an operating …

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• 25 July 2024 11:32 am

  Oil Prices Dip Amid Concerns Over China Demand and Middle East Ceasefire Prospects

  

  Oil prices edged lower on Thursday as concerns over weak demand in China, the world’s largest crude importer, and expectations of a possible ceasefire deal in the Middle East outweighed the previous session’s gains. The gains had been driven by larger-than-expected declines in U.S. crude inventories. Brent crude futures for …

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• 25 July 2024 3:37 am

  Market Drivers; US Session, July 24

  

  The USD Index (DXY) retreated slightly as the Japanese yen strengthened and US Treasury yields displayed mixed movement. The upcoming release of Q2 Growth Rate data, Durable Goods Orders, and Initial Jobless Claims on July 25 will be closely watched. Forex Space The Japanese yen’s continued appreciation pressured the US …

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• 25 July 2024 3:29 am

  Chinese, Australian Economic Woes Drag Australian Dollar Lower

  

  The Australian dollar went through additional losses against the US dollar on Wednesday, reaching 0.6580. Worsening concerns over China’s economic health and commodity prices were the primary contributors to the AUD’s slide. Australia reported weak Judo PMIs during the Asian session, which could potentially restrict any further weakening of the …

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• 25 July 2024 2:47 am

  What Recent Housing Data Reveal About the US Economy

  

  The US housing market is undergoing significant transformations, with implications for the broader economy. A decline in foreign buyer activity, coupled with persistent inventory shortages and price fluctuations, is shaping the market’s trajectory. This article delves into recent data to explore these trends and their potential impact on the US …

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• 25 July 2024 1:21 am

  US Stock Market Reels Following Disappointing Earnings

  

  Nasdaq has been taken by a storm. The tech-heavy Nasdaq Composite is going through a major direction change. On Wednesday, the Index saw its worst day since December 2022 as a perfect storm of worsening economic indicators and Megacap Tech companies’ disappointing reports sent shockwaves across the market. The Dow …

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