Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 24 May 2024 12:45 pm

  Oil Prices Stabilize Amid Fed Comments and U.S. Fuel Demand

  

  Oil prices held steady on Friday as investors weighed the latest remarks from the U.S. Federal Reserve regarding interest rates amid persistent inflation, while signs of robust seasonal U.S. fuel demand provided support. Brent crude futures edged up 5 cents to $81.41 a barrel by 0640 GMT, while U.S. West …

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• 24 May 2024 11:47 am

  European Stock Markets Dip Amid Interest Rate Concerns

  

  European stock markets declined on Friday, mirroring the global negative sentiment driven by worries over sustained high interest rates and their potential impact on economic activity. Market Performance At 03:10 ET (07:10 GMT), the DAX index in Germany traded 0.9% lower, the CAC 40 in France fell 0.6%, and the …

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• 24 May 2024 10:25 am

  Gold Steadies Amid Rate Jitters; Copper Stabilizes After Record Highs

  

  Gold Prices Steady in Asian Trade Gold prices steadied in Asian trade on Friday, but the yellow metal was nursing steep weekly declines due to persistent concerns over prolonged high U.S. interest rates. Spot gold rose 0.2% to $2,332.77 an ounce, while gold futures for June delivery fell 0.1% to …

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• 24 May 2024 9:17 am

  Asian Markets Tumble Amid U.S. Inflation Concerns and Escalating Middle East Tensions

  

  On Friday, most Asian stock markets declined, mirroring the negative sentiment from Wall Street as persistent concerns over U.S. inflation and high interest rates dampened investor appetite for riskier assets. Chinese Markets: Shanghai Shenzhen CSI 300: Fell 0.4%Shanghai Composite: Declined 0.2%Hang Seng Index: Dropped 1.5% Chinese markets continued their downward …

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• 24 May 2024 4:02 am

  US stocks decline following US data, FOMC minutes

  

  US stocks are under pressure to decline as a result of the negative mood that pervaded the markets on Thursday after the most recent US data releases and the ongoing effects of the FOMC minutes from Wednesday, which included a strong recommendation for the central bank to keep raising interest …

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• 24 May 2024 1:55 am

  Market Drivers; US Session, May 22

  

  The US Dollar (USD) surged to multi-day highs due to reduced expectations of a rate cut in September, positive data from US business activity in May, and a hawkish stance from the Federal Open Market Committee (FOMC).Currency Pairs: EUR/USD: Experienced its fourth consecutive session of losses, testing the 1.0800 support. …

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• 23 May 2024 11:59 pm

  Oil prices decline for fourth session ahead of busy travel plans

  

  Thursday marked the fourth straight session of declines in crude oil prices ahead of the hectic Memorial Day weekend travel period. This week, U.S. crude oil has dropped 3%, while the global standard, Brent, has dropped almost 4%.WTI’s July contract price is $76.87 per barrel, a decrease of 70 cents …

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• 23 May 2024 10:09 pm

  Dow accelerates loss on diminishing rate cut hopes

  

  The Dow Jones Index retreated on Thursday, losing -527 points and tumbling below 39,150.00 as investors pulled back in the face of declining hopes for a September interest rate cut from the Fed.On the US data front; S&P Global Services Purchasing Managers Index (PMI) rose to a 12-month high of …

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• 23 May 2024 8:37 pm

  Gold Faces Threat Below Major Trendline After US Data Release

  

  With the release of US Purchasing Manager Index (PMI) data, the XAU/USD Index is at a key juncture, threatening to fall below a significant trendline. According to the most recent figures, the US manufacturing and services sectors both experienced greater growth in May than anticipated. At the time of writing, …

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• 23 May 2024 7:47 pm

  US dollar continues to benefit from FOMC minutes

  

  The US dollar has been on the rise since the start of US trading on Thursday, fueled by signals from the Federal Reserve’s previous meeting. Additionally, weekly jobless claims continue to decline.The dollar index, which measures the performance of the US currency against major currencies, reached 104.97 points compared to …

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• 23 May 2024 6:25 pm

  Will US House’s FIT21 Bill boost cryptocurrencies?

  

  The FIT21 Bill is frequently cited by analysts as a critical step towards cryptocurrency regulation. A big bill that is presently passing the US House of Representatives is called the Financial Innovation and Technology for the 21st Century Act (FIT21). Why it matters is as follows:Regulatory Framework for Digital Assets:In …

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• 23 May 2024 2:55 pm

  U.S. Dollar Eases Slightly but Remains Near One-Week High Post-Fed Minutes

  

  The U.S. dollar handed back some of the previous session’s gains on Thursday but remained near a one-week high following the release of hawkish minutes from the last Federal Reserve meeting. The minutes suggested that U.S. interest rates could remain elevated for an extended period. As of 04:20 ET (08:20 …

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• 23 May 2024 12:45 pm

  Gold Prices Retreat Amid Rising Rate Concerns and Dollar Strength

  

  Gold prices experienced extended losses in Asian trade on Thursday, further retreating from recent record highs as renewed worries about high interest rates and diminished safe haven demand weighed on the yellow metal. Industrial Metals Follow Suit Industrial metals, including copper, also faced losses, with copper prices sharply declining from …

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