Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 22 October 2024 3:43 pm

  UK Public Borrowing Exceeds Forecasts, Presenting Challenge for Finance Minister Rachel Reeves

  

  British public borrowing in the first six months of the tax year exceeded official forecasts, posing a challenge for Finance Minister Rachel Reeves ahead of her first budget next week. Borrowing totaled £79.6 billion ($103.5 billion) from April to September, nearly £7 billion higher than projections made by the Office …

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• 22 October 2024 2:08 pm

  Oil Prices Steady Near $74 Amid Middle East Ceasefire Efforts and Slowing Chinese Demand

  

  Oil prices hovered near $74 a barrel on Tuesday as geopolitical tensions in the Middle East and concerns over weakening demand growth in China, the world’s top oil importer, continued to influence the market. Brent crude futures for December delivery slipped 20 cents, or 0.27%, to $74.09 per barrel by …

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• 22 October 2024 1:53 pm

  European Stocks Slip Amid Geopolitical and Rate-Cut Uncertainties, SAP Boosts Tech Sector

  

  European stocks dipped on Tuesday as investors grappled with geopolitical tensions and uncertainties over global interest rate cuts. The pan-European STOXX 600 index edged down 0.3% by 0830 GMT, as lingering concerns about the European economy and Chinese demand weighed on market sentiment. The broader decline was softened by German …

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• 22 October 2024 12:55 pm

  Bitcoin Falls Amid U.S. Election Uncertainty and Slower Fed Rate Cut Expectations

  

  Bitcoin prices fell on Tuesday, retreating from recent three-month highs as broader market uncertainty ahead of the U.S. presidential election dampened risk appetite. Bitcoin dropped 2.4% to $67,412.5, pulling back from a recent peak of $69,000, failing to break through the key $70,000 level that many analysts viewed as a …

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• 22 October 2024 11:03 am

  Dollar Strength and Fed’s Approach to Rate Cuts

  

  The U.S. dollar remained strong on Tuesday, holding near a 2-1/2-month high due to expectations that the Federal Reserve will adopt a cautious approach to cutting interest rates. This strength, buoyed by rising U.S. Treasury yields, has put pressure on the yen, euro, and British pound. The dollar’s rally is …

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• 22 October 2024 10:03 am

  Gold Prices Steady Near Record Highs Amid Election Uncertainty and Middle East Tensions

  

  Gold prices gained in Asian trade on Tuesday, stabilizing just below their recent record highs as traders sought safe havens due to growing uncertainty surrounding the upcoming U.S. presidential election. The anticipation of a tight race between Donald Trump and Kamala Harris has pushed investors towards safer assets like gold, …

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• 22 October 2024 1:39 am

  Treasury Yields Resume Upward Trend Following Fed Remarks

  

  US Treasury yields initiated an upward climb at the start of the new trading week, fueled by statements from the Federal Reserve that highlighted a preference for a gradual approach to interest rate cuts in the coming period.The yield on 10-year US Treasury bonds rose to 4.182%, compared to the …

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• 22 October 2024 12:24 am

  Gold Halts Climb After Record Highs

  

  The price of gold stopped increasing after reaching record highs due to statements from the Federal Reserve. The Fed suggested a potential gradual reduction in interest rates, which could affect the appeal of gold as a safe-haven asset. This news, along with concerns about the U.S. labor market, has led …

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• 21 October 2024 11:20 pm

  Market Drivers; US Session

  

  Dollar Strengthens Amid Rising Yields, Renewed “Trump Trade”The US Dollar Index (DXY) continued its upward trajectory on Tuesday, October 22, approaching three-month highs as investors responded to higher interest rates and a resurgence of the “Trump trade.” Key economic events and speeches from Federal Reserve officials will shape the market’s …

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• 21 October 2024 10:44 pm

  Dow Jones Sheds 330 Points as Bullish Momentum Pauses

  

  Dow Jones Industrial Average (DJIA) experienced a setback on Monday, declining by 330 points (0.8%) as equity markets retreated from recent record highs.The decline was primarily attributed to a pause in bullish momentum, with the Dow Jones bearing the brunt of the sell-off. Investors grappled with conflicting factors: the anticipation …

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• 21 October 2024 9:01 pm

  Dollar Holds Steady Amid Geopolitical Tensions, Fed Comments

  

  The US Dollar maintained its strength on Monday, buoyed by escalating tensions in the Middle East and supportive remarks from Federal Reserve officials. However, profit-taking activity tempered the Greenback’s gains, as investors digested positive economic news from China and its government’s stimulus measures.Geopolitical Tensions: The ongoing tensions in the Middle …

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• 21 October 2024 8:25 pm

  EUR/USD could resume declining as ECB considers further cut rates

  

  The EUR/USD exchange rate is likely to continue falling as the European Central Bank is expected to lower interest rates again. The value of the EUR/USD pair is currently at 1.0800, but its future direction is uncertain due to expectations that the ECB will adopt a more lenient monetary policy. …

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• 21 October 2024 7:15 pm

  Fed’s Logan Hints at Gradual Rate Cuts

  

  Federal Reserve Bank of Dallas President Lorie Logan suggested on Monday that the Fed may gradually lower interest rates in the future, provided the economy continues to perform as expected. She also indicated that the Fed plans to continue reducing its balance sheet.Logan highlighted the following key points:Economic Stability: The …

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