Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 19 June 2024 12:23 pm

  U.K. Inflation Hits Central Bank Target, Raising Hopes for Rate Cuts

  

  In a significant development for the UK economy, inflation has finally fallen back to the Bank of England’s 2% target for the first time in nearly three years. This encouraging news has sparked hopes that the central bank may soon begin easing its monetary policy and cutting interest rates. The …

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• 19 June 2024 9:18 am

  Oil Markets in Flux: Balancing Geopolitical Tensions with Demand Concerns

  

  Oil prices maintained a delicate equilibrium on Wednesday, caught between escalating geopolitical tensions in Europe and the Middle East and growing apprehension over a surprising build in U.S. crude inventories. The market remained cautiously optimistic, with Brent crude futures edging up by a marginal 2 cents to $85.35 a barrel, …

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• 19 June 2024 3:17 am

  Data remains prerequisite for easing among cautiously optimistic Fed officials

  

  Six senior Federal Reserve officials from various regions made important statements today, Tuesday, adding to the ongoing discussion about future U.S. monetary policy. The economic agenda also featured presentations and discussions with Fed officials, including two voting members of the Federal Open Market Committee. The next Federal Open Market Committee …

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• 19 June 2024 1:32 am

  GBP/USD gears up ahead of UK CPI inflation reading

  

  The GBP/USD pair is currently trading around 1.2700 as markets prepare for a lopsided Wednesday session with a US holiday and a fresh update on UK CPI inflation. The Bank of England’s interest rate call is expected on Thursday, and another rate hold is expected. Market sentiment was broadly pinned …

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• 18 June 2024 9:41 pm

  Could OPEC lose its control over global oil prices?

  

  The International Energy Agency claims that efforts by the Organization of the Petroleum Exporting Countries and its partners, or OPEC+, to support prices by reducing production could be “upended” by an impending surplus in the world’s oil supply. The United States and other American nations are expected to lead the …

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• 18 June 2024 8:20 pm

  Gold prices decline despite positive central bank demand forecast

  

  Gold (XAU/USD) price has fallen over a quarter of a percent on Tuesday as the market shifts towards riskier assets over safe-havens. A World Gold Council survey indicates that central bank demand is expected to remain strong in 2024, adding a backwind to the gold price. The decline comes as …

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• 18 June 2024 7:07 pm

  US Dollar Trades With Loss Following Bad Retail Sales Data

  

  The US Dollar has been trading in the red after a disastrous US Retail Sales, which missed the 0.2% consensus and resulted in a contraction in retail sales without transportation. This has led to a second wave of US Dollar easing, with the Redbook Index for June now at 5.9% …

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• 18 June 2024 12:59 pm

  Forex Overview: Dollar Firms Ahead of Retail Sales Data and Fed Speeches

  

  The U.S. dollar gained ground on Tuesday, buoyed by anticipation of key retail sales data and speeches from Federal Reserve officials. Traders sought insights to better understand the potential timing and pace of future interest rate cuts. The Dollar Index, measuring the greenback against a basket of major currencies, rose …

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• 18 June 2024 4:54 am

  Market Drivers; US Session, June 17

  

  Even while US yields rose in reaction to an improvement in overall risk appetite trends and a modicum of relief from political unrest in Europe, the US dollar lost some of its recent gains. Amidst investor speculation of two Fed interest rate cuts in 2024, the USD Index (DXY) posted …

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• 18 June 2024 4:41 am

  Oil Prices: Driving Season Outlook Amid Initial Optimism

  

  Investors and traders are paying attention to oil prices ahead of the summer driving and travel season amid a mix of optimistic expectations, well-founded fears and high demand for fuel.Optimism about OPEC+ trendsOil recently achieved its first weekly gains in a month, supported by reports and data that injected more …

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• 17 June 2024 11:06 pm

  US stocks climb as rate cut hopes defy cautious Fed

  

  The Dow Jones Index has seen slight gains on Monday, climbing four-tenths of a percent as investors recover balance and resume the long wait for rate cuts from the Federal Reserve. The ‘bad news is good news’ sentiment has fueled investor sentiment seeking an accelerated pace of rate cuts from …

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• 17 June 2024 7:41 pm

  Gold prices continue to suffer from Fed’s rhetoric

  

  Gold prices have continued to decline since the beginning of trading on the first day of the new week’s trading, following in the footsteps of commodities that took a downward trend since the opening bell.Spot gold contracts fell to $2,318 per ounce, compared to the previous daily close, which recorded …

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• 17 June 2024 4:29 am

  Financial Markets’ Weekly Recap: Major central banks, inflation data in spotlight

  

  Investors and traders kept a close eye on the US inflation figures as well as the FOMC meeting in June. Due to the Fed’s aggressive approach, selling transactions took hold of gold prices immediately following the announcement that US interest rates would remain steady. Prior to the announcement of the …

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