Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 17 July 2024 9:09 pm

  Canadian dollar retreats as markets reassess BoC rate decision

  

  Investors are re-evaluating recent Canadian inflation data, causing the Canadian dollar to weaken ahead of the Bank of Canada’s crucial interest rate decision next week. While headline inflation dipped slightly, core inflation – a more reliable indicator of underlying price pressures – remained steady, raising concerns about a potential resurgence.BoC’s …

  Read More »
• 17 July 2024 8:04 pm

  GBP/USD Surges After UK Inflation Data

  

  The British Pound (GBP) surged in value during Wednesday’s trading session in New York. This jump came after the UK’s statistics office (ONS) released inflation data for June that was higher than expected. The report showed that overall inflation and inflation excluding certain items (core inflation) both went up in …

  Read More »
• 17 July 2024 7:31 pm

  Should Investors Buy Tesla Now, or Wait to See?

  

  Tesla’s stock defies typical analysis. While most companies see their value tied to financial performance, Tesla’s price is heavily influenced by excitement for its future prospects and the bold pronouncements of its CEO, Elon Musk. This has resulted in a stock price as volatile as a California wildfire, though it …

  Read More »
• 17 July 2024 2:57 pm

  Nasdaq Futures Dive Over 1% as Investors Dump Tech Stocks, Turn to Small-Caps

  

  U.S. stock index futures tumbled on Wednesday, with the Nasdaq 100 leading the decline, as investors offloaded megacap tech and chip stocks and shifted their focus to previously underperforming areas of the market, such as small-cap stocks. Major tech companies like Apple, Microsoft, and Alphabet all saw their shares drop …

  Read More »
• 17 July 2024 12:45 pm

  European Stocks Dip on ASML’s Dim Outlook and US Trade Restriction Concerns

  

  European shares opened lower for the third consecutive day on Wednesday, primarily dragged down by Dutch semiconductor firm ASML’s disappointing forecast and apprehensions over potential stricter trade rules from the United States. Key Points: STOXX 600 Declines: The pan-European STOXX 600 index experienced a 0.3% drop, with the technology sub-index …

  Read More »
• 17 July 2024 11:22 am

  Oil Prices Edge Lower on China Demand Concerns Despite U.S. Stockpile Drawdown

  

  Oil prices experienced a slight decline on Wednesday, with Brent crude hovering near a one-month low due to persistent worries about weakening demand in China. However, the losses were somewhat mitigated by a reported decline in U.S. oil inventories. Key Points: Brent and WTI Decline: Brent crude oil futures fell …

  Read More »
• 17 July 2024 10:51 am

  UK Inflation Holds Steady, Challenging Rate Cut Expectations

  

  In a surprising turn of events, UK inflation defied expectations and remained at 2.0% in June, raising doubts about the Bank of England’s (BoE) plans for an interest rate cut. Economists had predicted a slight decline to 1.9%, but the latest figures released on Wednesday revealed a stubborn persistence of …

  Read More »
• 17 July 2024 9:46 am

  Gold Prices Hit Record Highs on Renewed Rate Cut Optimism

  

  Gold prices soared to unprecedented levels in Asian trade on Wednesday, continuing a remarkable rally fueled by growing optimism that the Federal Reserve will implement interest rate cuts as early as September. This surge reflects a significant shift in market sentiment, driven by recent economic data and dovish signals from …

  Read More »
• 17 July 2024 2:37 am

  Gold Sets New Record High on US Rate Cut Hopes

  

  Gold prices soared by more than 1.93% on Tuesday, fueled by intensifying expectations for a US interest rate cut in September. This sentiment gained momentum following the release of the latest US inflation data, which came in weaker than anticipated. The attempted assassination of former US President and Republican candidate …

  Read More »
• 17 July 2024 1:26 am

  Market Drivers; US Session, July 16

  

  The US Dollar and the majority of riskier assets were essentially steady from Monday’s closing levels, despite the indecisive price action in the Forex market on Tuesday due to persistent anticipation of a rate cuts by the Fed in September.As Tuesday’s trading day came to a finish, the positive impact …

  Read More »
• 16 July 2024 11:18 pm

  Fed’s Kugler: It will be appropriate to cut rate on cooling labour

  

  Dr. Adriana Kugler, member of the Fed Board of Governors, pointed out on Tuesday that although inflationary pressures have undoubtedly decreased, the Fed still needs to complete some parts of the rate-cutting puzzle before it can move on rates.Key QuotesIf incoming data does not provide confidence that inflation is moving …

  Read More »
• 16 July 2024 10:51 pm

  Dow Jones Gains 680 Points After Retail Sales Data

  

  Dow Jones surged 1.7% in a single trading day as rate cut hopes accelerate. Easing US Retail Sales data reignited market bets of a September rate cut. Dow Jones sets a new record high for a second day in a row.Dow Jones surged to a second record-setting day in a …

  Read More »
• 16 July 2024 10:05 pm

  Dollar Strengthens Against Yen Despite Yentervention Concerns

  

  The US dollar has gained significant ground against the Japanese yen, even amidst fears of intervention by the Bank of Japan. During yesterday’s trading session, the USD/JPY pair reached 158.30, following an earlier low of 157.97. Tokyo data reveals that approximately 2.14 trillion Japanese yen (equivalent to 13.5 billion US …

  Read More »