Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 22 August 2024 11:57 am

  German Business Activity Contracts Sharply in August, Deepening Economic Concerns

  

  Germany’s business activity continued to shrink in August, marking the second consecutive month of contraction and signaling deepening challenges for the eurozone’s largest economy. A preliminary survey released on Thursday revealed that the downturn was more severe than economists had anticipated. PMI Index Highlights Economic Struggles The HCOB German flash …

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• 22 August 2024 11:32 am

  Oil Prices Drop for Fifth Consecutive Session Amid Global Demand Concerns

  

  Oil prices continued their downward trend on Thursday, marking the fifth consecutive session of declines as investors grew increasingly concerned about the global demand outlook, despite a recent decline in U.S. fuel inventories. Price Movements and Statistics Brent crude futures slipped by 10 cents to $75.95 per barrel, while U.S. …

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• 22 August 2024 10:59 am

  Bitcoin Price Rises Amid Rate Cut Bets, but Mt Gox Concerns and Recession Fears Loom

  

  Bitcoin prices edged higher on Thursday, benefiting from a broader rally in risk-driven markets as traders increasingly bet on a September interest rate cut by the Federal Reserve. However, gains were limited by concerns over potential new token distributions from the defunct crypto exchange Mt Gox, which kept the cryptocurrency …

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• 22 August 2024 10:28 am

  Gold Prices Retreat from Record Highs Amid Profit-Taking and Dollar Rebound

  

  Gold prices pulled back from record highs in Asian trade on Thursday, as the yellow metal’s rally cooled. The market remains focused on potential U.S. interest rate cuts and rising recession fears, which have created a volatile environment for precious metals. After surging to unprecedented levels earlier in the week …

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• 22 August 2024 1:22 am

  Market Drivers; US Session, August 21

  

  The US Dollar continued its downward trend, reaching levels last seen in late December 2023. This decline was primarily fueled by growing expectations for a September interest rate cut, as indicated by the Federal Open Market Committee (FOMC) minutes. Key Economic Events:Jackson Hole : This influential economic gathering kicks off …

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• 22 August 2024 12:50 am

  US Stocks Surge on Renewed Rate Cut Hopes after FOMC Minutes

  

  Wall Street closed modestly higher on Wednesday, with the S&P 500 and Nasdaq gaining over 0.4% and 0.5% respectively. The Dow Jones Industrial Average saw smaller gains of 0.14%. Advancing stocks outnumbered declining ones on both the NYSE and Nasdaq. The S&P 500 and Nasdaq set new 52-week highs, while …

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• 21 August 2024 10:42 pm

  EUR/USD surges to fresh 13-month high following FOMC Minutes

  

  On Wednesday, there was a sharp increase in the EUR/USD exchange rate, which culminated in fresh 13-month highs. Growing hopes that the Federal Reserve (Fed) would start a rate-cutting cycle in September are the main driver of this surge. These expectations were reinforced with the publication of the Fed meeting …

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• 21 August 2024 10:27 pm

  FOMC Minutes Showing Strong Consensus for September Rate Cut

  

  The latest Federal Reserve meeting minutes indicate a strong likelihood of a rate cut at the upcoming September meeting. The vast majority of FOMC participants expressed confidence that the recent economic data, including inflation and unemployment trends, support a reduction in interest rates. While caution was advised regarding the sustainability …

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• 21 August 2024 10:19 pm

  Gold Stabilizes Above $2,500 Following FOMC Minutes

  

  The recent minutes from the Federal Open Market Committee (FOMC) meeting indicate that the central bank is considering easing monetary policy in the near future. This sentiment has provided support to gold prices, which have remained relatively steady above the $2,500 level.Fed officials expressed increasing confidence in their ability to …

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• 21 August 2024 10:03 pm

  FOMC Minutes: Risk to inflation goal had eased

  

  According to the Minutes from the two-day session held on July 30-31, the vast majority of participants indicated it would likely be appropriate to ease policy at the next meeting if the data continued to align with expectations.Jerome Powell admits officials discussed a rate cut at July meeting The Fed …

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• 21 August 2024 8:41 pm

  Bitcoin climbs as analyst expect swinging performance until yearend

  

  Bitcoin climbed on Tuesday to nearly $61,000, mirroring gains in other risky assets. On Wednesday it surged further to the daily high of $61,782, and eventually stabilized around $61,100, up by around 3.4%. This rise is likely due to growing expectations of a Federal Reserve rate cut in September.However, Bitcoin …

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• 21 August 2024 7:38 pm

  What can markets expect from Jerome Powell’s Jackson Hole speech?

  

  The Fed is prepared to reduce key interest rates next month as a result of inflation getting closer to its 2% target, while officials at the Fed are now focusing on the state of the labour market because they are growing more optimistic about their ability to control inflation amid …

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• 21 August 2024 11:25 am

  Oil Prices Decline Amid Rising U.S. Crude Inventories and Easing Middle East Tensions

  

  Oil prices edged lower on Wednesday, influenced by growing U.S. crude inventories and indications that tensions in the Middle East may be easing after a diplomatic tour of the region by key mediators. Brent crude futures dipped by 11 cents, or 0.1%, to $77.09 a barrel by 0630 GMT, while …

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