Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 11 July 2024 10:16 am

  Oil Prices Extend Gains Amid Weak Dollar and Tight Supply Bets

  

  Oil prices continued their upward trend in Asian trade on Thursday, bolstered by a weakening dollar ahead of key U.S. inflation data and expectations of tighter global supplies. Dollar Weakness and Rate Cut Bets The dollar experienced steep losses this week as investors focused on upcoming consumer price index (CPI) …

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• 11 July 2024 1:33 am

  Market Drivers; US Session, July 10

  

  Amid lower US Treasury yields, the USD Index (DXY) maintained the vacillating attitude just over the 105.00 level. The weekly Initial Jobless Claims report, lectures by Fed members Cook and Bostic, and the announcement of the US Inflation Rate take center stage on July 11. The EUR/USD pair somewhat recovered …

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• 11 July 2024 12:26 am

  Gold surges on retreating T-yields ahead of US inflation reading

  

  Gold surges amid growing expectations of Fed rate cuts in September. US 10-year Treasury yield drops to 4.288%, while US Dollar Index falls below 105.00. Inflows into Gold ETFs support the metal, with eyes now on US June inflation data and economic indicators.Gold price escalated on Wednesday for back-to-back days …

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• 11 July 2024 12:16 am

  S&P 500 shares climb to a fresh record

  

  The S&P 500 climbed to a fresh record on Wednesday, breaking above 5,600 for the first time due to a sharp rise in semiconductor stocks. The broad market index jumped 1.02%, closing at 5,633.91 and notching a seventh straight day of gains. The Nasdaq Composite advanced 1.18%, also hitting an …

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• 10 July 2024 11:06 pm

  How Could France’s Debts Trigger a Serious Eurozone Crisis?

  

  The Eurozone debt crisis, which began in 2009, was triggered by high levels of public debt, particularly in countries grouped under the acronym “PIIGS” (Portugal, Ireland, Italy, Greece, and Spain). The crisis followed the global financial downturn that started in 2008. When the US housing bubble burst, banks worldwide faced …

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• 10 July 2024 10:31 pm

  Reading Between the Lines in Jerome Powell’s Recent Testimony

  

  Federal Reserve Chair Jerome Powell’s recent testimony before the House Financial Services Committee and the Senate Banking Committee was closely watched by investors, economists, and policymakers. As the U.S. economy faces a delicate balancing act between inflation, employment, and financial stability, Powell’s remarks offer critical insights. In this comprehensive article, …

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• 10 July 2024 9:02 pm

  Are Commodities Soaring Amid Inflation-Linked Concerns?

  

  As inflationary pressures persist worldwide, commodities have emerged as a focal point for investors seeking stability and growth. Among the trio of silver, oil, and gold, each commodity tells a unique story of resilience and opportunity.Industrial DynamoSilver, often dubbed the “poor man’s gold,” has surged approximately 22.5% in the first …

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• 10 July 2024 8:19 pm

  Fed’s Powell: We see current policy as restrictive

  

  Jerome Powell, Chairman of the US Federal Reserve (Fed), delivers the Semi-Annual Monetary Policy Report and responds to questions before the House Financial Services Committee on the second day of his Congressional testimony. Key Quotes:“We see current Fed policy as restrictive.”“The neutral interest rate must have moved up at least …

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• 10 July 2024 7:08 pm

  China’s CPI rises for fifth consecutive month

  

  China’s consumer inflation remained tepid last month, with factory-gate prices continuing to fall, indicating a lackluster demand despite Beijing’s efforts to boost consumption.The National Bureau of Statistics reported that the consumer-price index rose for a fifth consecutive month in June, slightly up 0.2% from a year earlier. Factory-gate prices remained …

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• 10 July 2024 3:02 pm

  European Shares Rally Amidst Corporate Earnings

  

  European stocks saw a modest rise on Wednesday, driven by positive corporate earnings reports. However, gains were tempered by weakness in oil and metal prices, and investors remained cautious ahead of Federal Reserve Chair Jerome Powell’s second day of testimony, seeking further clues on interest rate policy. Market Performance and …

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• 10 July 2024 2:05 pm

  Dollar Hovers Near Three-Week Lows Amid Powell’s Cautious Tone

  

  The US dollar remained near three-week lows as Federal Reserve Chair Jerome Powell adopted a cautious stance during his testimony to Congress, highlighting the need for “greater confidence” in declining inflation before considering a rate cut. Powell acknowledged the cooling labor market, but the upcoming Consumer Price Index (CPI) report …

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• 10 July 2024 1:10 pm

  Asian Stocks Muted Amid Mixed Inflation Data and Fed Uncertainty

  

  Asian stock markets remained largely rangebound on Wednesday, as investors digested mixed inflation figures from China and Japan, while closely monitoring Federal Reserve Chair Jerome Powell’s testimony for clues on potential interest rate cuts. Key Takeaways: Mixed Inflation Data: Japanese producer price index (PPI) inflation rose slightly in June, but …

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• 10 July 2024 10:24 am

  Dollar Stabilizes Near 3-Week Low as Powell Testimony Impacts Market Sentiment

  

  The U.S. dollar remained near a three-week low on Wednesday, despite slight gains, as Federal Reserve Chair Jerome Powell’s cautious tone in his testimony to Congress tempered risk sentiment. Meanwhile, the New Zealand dollar weakened on the prospect of a rate cut. Powell’s Testimony and Market Reaction In his first …

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