Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 10 May 2024 1:36 am

  Japan’s Suzuki: Appropriate actions will be taken on Foreign Exchange if needed

  

  Shunichi Suzuki, the finance minister of Japan, stated on Friday that he will be closely monitoring the foreign currency (FX) move and that, if necessary, he will take the appropriate action. The Japanese Yen (JPY) shows little to no market reaction to the verbal intervention. As of this writing, the …

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• 9 May 2024 11:40 pm

  Sterling retreats after BoE paved way for rate cut

  

  On Thursday, the British blue-chip stock index set a record as the Bank of England moved closer to reducing interest rates, with a second official endorsing the move. Meanwhile, the pound sterling and UK bond yields declined. Sterling hit a two-week low of $1.2446, down as much as 0.4% vs …

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• 9 May 2024 9:17 pm

  BoE’s Pill: British central bank to think about rate cuts over next few meetings

  

  Chief Economist of the Bank of England, Huw Pill, signaled to markets that the UK’s central bank will be considering rate cuts over the next few meetings, provided there are no “big disturbances” in the economy. BoE’s Pill spoke during a virtual question and answer period regarding the BoE’s Monetary …

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• 9 May 2024 7:29 pm

  Key semiconductor stock declines despite upbeat earnings

  

  Despite a spike in earnings, Arm Holdings, a significant semiconductor firm, has seen a decline in value. Nvidia made a bid of $40 billion to acquire Arm from Softbank in 2020, but European and American regulators vetoed the transaction. In September 2023, the business underwent a spin-off through an IPO, …

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• 9 May 2024 2:07 pm

  European stocks slip as investors await the Bank of England’s verdict

  

  European stocks experienced a slight downturn on Thursday as investors took a moment to pause following recent gains and awaited the upcoming decision from the Bank of England regarding monetary policy. The European STOXX 600 index edged down by 0.1 percent as markets digested the latest developments. Among the sectors, …

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• 9 May 2024 1:01 pm

  Nikkei gives up early gains after chip industry-related stocks decline

  

  The Japanese Nikkei index struggled to maintain its early gains and ultimately closed lower on Thursday, with chip-related companies bearing the brunt of the decline. This downturn was notably influenced by the subdued annual revenue estimates reported by the British chip design company, Arm Holdings, which fell short of market …

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• 9 May 2024 11:42 am

  Gold is locked in a narrow range ahead of data

  

  Gold prices remained relatively stable on Thursday as investors redirected their attention towards upcoming US economic data, which could offer insights into the Federal Reserve’s stance on interest rate adjustments. At 0456 GMT, spot gold edged up by 0.2 percent to $2,314.26 per ounce, while US gold futures dipped slightly …

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• 9 May 2024 10:24 am

  Dollar rises slightly ahead of key inflation data

  

  The dollar maintained a steady stance against most major currencies on Thursday, with traders awaiting crucial US inflation data for insights into the Federal Reserve’s policy direction. Meanwhile, the substantial interest rate differential between Japan and the United States provided some support for the US dollar against the yen. Following …

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• 9 May 2024 10:02 am

  Oil prices climb amid decreasing US crude inventories

  

  Oil prices experienced a boost in early trading on Thursday, driven by multiple factors including a decrease in US crude inventories, which suggests a tightening of supply. Brent crude futures for July delivery climbed 23 cents to reach $83.81 per barrel, while US West Texas Intermediate crude futures for June …

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• 9 May 2024 2:40 am

  Market Drivers; US Session, May 8

  

  Ahead of the Bank of England’s interest rate decision on Thursday, the GBP/USD pair managed to recover from multi-session lows around 1.2470. Despite this, the pair remained cautious. On May 9, it is generally anticipated that the BoE would maintain its policy rate. BoE’s Bailey and Pill are also scheduled …

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• 9 May 2024 2:18 am

  Bitcoin Declines On Interest Rate, Regulatory Concerns

  

  Bitcoin price declined on Wednesday, reversing a rebound seen over the weekend due to persistent concerns over more regulatory scrutiny against the cryptocurrency industry. The dollar rebounded from recent losses after Federal Reserve officials signaled that the central bank was more likely to keep rates unchanged in 2024. Bitcoin fell …

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• 9 May 2024 1:21 am

  USD/JPY rises towards 156.00.

  

  This week’s US economic data schedule is somewhat low; up to Friday’s University of Michigan Consumer Sentiment Index, the only available data is of a moderate quality. In May, the UoM’s indexed poll of consumer economic expectations is predicted to decline slightly from 77.2 to 76.0 MoM. In March, the …

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• 9 May 2024 12:35 am

  Oil prices erase intraday loss following reserves draw down

  

  Oil prices have erased all intraday losses after the Energy Information Administration (EIA) release, with WTI crude prices reaching their lowest levels in almost two months. The US benchmark crude is +0.12% up trading at $78.10 and Brent is trading is also +0.16% up trading at $82.91 per barrel, at …

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