Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 9 July 2024 10:14 pm

  Political uncertainty boosts case for ECB’s September interest rate cut

  

  Following the relatively data-insensitive June rate cut, European Central Bank (ECB) speakers have stood firm on the message of data-dependency. Next week’s ECB meeting likely to take stock of the available data and compare it to the latest forecast.Possible rate cut in September Following the relatively data-insensitive June rate cut, …

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• 9 July 2024 9:28 pm

  Canadian Dollar Struggles Following Powell’s Speech

  

  The Canadian dollar struggled to develop momentum with little of note on the docket. Canada is largely absent from the economic calendar this week. Fed Chair Powell stuck close to the usual script, giving investors little to work with.The Canadian dollar found little reason to move in any particular direction …

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• 9 July 2024 7:57 pm

  Powell comments on job creation status in US economy

  

  Fed Chair Jerome Powell is speaking Tuesday before the Senate Banking Committee as part of his semiannual address to Congress on monetary policy.With the Fed still on hold regarding interest rates, Powell’s remarks are closely monitored for hints about what it will take to start easing. At the Fed’s June …

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• 9 July 2024 2:08 pm

  U.S. Stock Futures Rise as Rate Cut Anticipation Grows Ahead of Powell Testimony

  

  U.S. stock index futures climbed on Tuesday as market optimism regarding a potential interest rate cut in September continued to build, ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress. In early morning trading, Dow Jones Futures rose, S&P 500 Futures gained, and Nasdaq 100 Futures advanced. The S&P …

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• 9 July 2024 1:16 pm

  Oil Prices Stabilize as Hurricane Beryl Impact Less Severe Than Anticipated

  

  Oil prices remained relatively stable on Tuesday as the impact of Hurricane Beryl on a major U.S. oil-producing hub in Texas proved less severe than initially feared. The storm, which weakened into a tropical storm after making landfall, caused minimal disruption to major refineries along the U.S. Gulf Coast. Brent …

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• 9 July 2024 12:24 pm

  Gold Prices Rebound as Traders Anticipate Dovish Signals from Powell Testimony

  

  Gold prices climbed in Asian trade on Tuesday, recovering from overnight losses as investors eagerly awaited Federal Reserve Chair Jerome Powell’s upcoming testimony before Congress, hoping for indications of a potential interest rate cut. Gold’s Recent Gains and Rate Cut Expectations: The precious metal saw a notable increase last week, …

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• 9 July 2024 11:40 am

  Asian Stocks Mostly Climb on US Rate Cut Bets

  

  Asian stock markets experienced a mixed day on Tuesday, with most indices rising on growing expectations of lower U.S. interest rates. Japan’s Nikkei 225 index stole the spotlight, surging to a record high fueled by tech stock gains and a weakening yen. However, Chinese markets lagged behind due to persistent …

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• 9 July 2024 5:31 am

  Market Drivers; US Session, July 8

  

  The new trading week began with some respectable gains for the dollar, which shed some of its NFP-related weakness and gained some new momentum in reaction to the risk complex’s widespread knee-jerk. While this was going on, investors were processing the results of the French snap elections and progressively turned …

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• 9 July 2024 5:15 am

  How Have Key Assets react to France’s Elections?

  

  The French legislative elections drew mixed reactions from European fundamentalists, despite the fact that the results suggested the far right would not win power and therefore lower the risks associated with the political trend’s renowned economic ideas.By the end of the new trading week’s first day, the euro was up …

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• 9 July 2024 3:24 am

  Will China’s economic strategy address demographic challenges?

  

  The third plenum of the 18th Central Committee of the Chinese Communist Party in November 2013 marked a turning point in China’s population policy. The policy blueprint ended the country’s one-child policy, allowing couples to have a second child if either parent was an only child. This marked a watershed …

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• 9 July 2024 12:41 am

  Will bitcoin’s sharp selloff stop this week?

  

  The Bitcoin price is expected to skyrocket this week, as it struggles to sustain dominance at critical support levels. The selloff rally was gaining momentum, and the broader market sentiment has been fearful. However, some hope of a bullish reversal is starting to light up with lower price rejections and …

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• 8 July 2024 11:54 pm

  Exxon: Higher Oil Prices Consolidating Upstream Earnings

  

  In a preview of its Q2 results, the U.S. supermajor ExxonMobil said on Monday that it expects greater upstream profitability for the second quarter of the year compared to the first quarter of the year, perhaps reaching $700 million.Although there could be an additional $700 million in upstream earnings due …

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• 8 July 2024 10:51 pm

  How will gold price react if inflation hits 2%?

  

  Inflation has been a significant factor for the price of gold, with the Federal Reserve raising interest rates to combat it and keeping rates higher for longer for the same purpose. Gold prices have been strong, reaching a record high of over $2,400 in May, and have since fallen slightly …

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