Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 17 May 2024 7:46 pm

  GBP/USD Rallies as bulls aim for YTD high

  

  During the North American session on Friday, the GBP/USD pair recovered from its losses on Thursday and reached a new weekly high. The 100-DMA and important resistance at 1.2631/34 have been breached, according to the technical forecast.A decline below 1.2630 may expose 1.2500 and the 200-DMA at 1.2539, while buyers …

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• 17 May 2024 7:15 pm

  Weaker Canadian Dollar May Not Stop BoC’s Divergence From Fed’s Path

  

  In order to prevent a falling currency that could jeopardize the outlook for inflation, the Bank of Canada is prepared to lower interest rates three times before the Federal Reserve takes its initial action. Investors are debating whether or not the Bank of Canada would deviate from its American counterpart …

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• 17 May 2024 1:42 pm

  Bitcoin Reverses Gains Amid Fed Warnings on Interest Rates

  

  Bitcoin prices dipped slightly on Friday, erasing some of the gains seen in the past two days as caution prevailed following warnings from Federal Reserve officials about the possibility of interest rate cuts this year. The world’s largest cryptocurrency remained firmly within a tight trading range of $60,000 to $70,000 …

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• 17 May 2024 11:38 am

  European Stocks Edge Lower Ahead of Key Inflation Data

  

  European stock markets retreated slightly on Friday, as investors awaited crucial inflation data amidst ongoing uncertainty over future interest rate decisions. At 03:10 ET (07:10 GMT), Germany’s DAX index traded 0.2% lower, France’s CAC 40 slipped 0.1%, and the UK’s FTSE 100 dropped 0.1%. Anticipation Builds for Eurozone CPI Release …

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• 17 May 2024 10:33 am

  Dollar Faces Largest Weekly Drop Against Euro in Over Two Months Amid Cooling U.S. Inflation and Economic Slowdown

  

  The dollar is on track for its biggest weekly decline against the euro in two and a half months, as signs of cooling U.S. inflation and a softening economy have raised the likelihood of upcoming rate cuts by the Federal Reserve. Euro Gains on Dollar Weakness The euro has surged …

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• 17 May 2024 9:59 am

  Gold Prices Dip Amid Fed Officials’ Cautious Stance, but Weekly Gains Persist

  

  Gold prices saw a slight decline on Friday, trimming some of the week’s gains, as Federal Reserve officials provided a more cautious outlook on potential interest rate cuts. Gold Retreats Amid Fed Caution Gold had surged close to $2,400 an ounce earlier in the week following softer U.S. economic data. …

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• 17 May 2024 9:30 am

  Asian Markets Retreat Amid Fed Warnings and Mixed Chinese Data

  

  Asian stock markets faced declines on Friday as a series of warnings from Federal Reserve officials caused investors to reassess expectations of interest rate cuts, coupled with mixed economic data from China that heightened caution. Asian markets took a cue from Wall Street, where U.S. stock benchmarks closed lower after …

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• 17 May 2024 4:51 am

  WTI rallies near $78.90 in US data boosting rate cut bets

  

  WTI prices gains traction near $78.90 on early Friday trading. The softer US April inflation data, Fed rate cut expectations, and a drop in US crude inventories boost the black gold. The ongoing geopolitical risks in the Middle East might cap the downside of WTI prices. The latest US Consumer …

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• 17 May 2024 3:12 am

  Market Drivers; US Session, May 16

  

  The US Dollar regained some stability and partially reversed its recent significant decline, especially in response to the US Consumer Price Index (CPI). Meanwhile, Federal Reserve officials expressed caution about inflation and the possibility of future interest rate cuts later this year. USD Index Rebound: The USD Index (DXY) experienced …

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• 17 May 2024 12:29 am

  Fed officials stick to cautious language, but rate cut seems likely

  

  Federal Reserve Bank of Atlanta President Raphael Bostic appeared late Thursday alluding towards the possibility of late-2024 rate cuts, but cautioned the need for patience on interest rates.Key Remarks By Bostic I am pleased with inflation progress in April but the Fed is not yet there. The Fed has to …

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• 16 May 2024 11:03 pm

  Dow stabilizes after topping 40,000 for the first time ever

  

  The Dow Jones Industrial Average soared above 40,000 for the first time ever, marking the beginning of a bull market that began in October 2022. The index had reached the 40,000 mark earlier this year, but a slight April pullback due to high interest rates knocked it back down. The …

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• 16 May 2024 8:21 pm

  Fed officials still need further conviction regarding inflation

  

  On Thursday, Loretta Mester, President of the Federal Reserve Bank of Cleveland, emphasized that maintaining the current levels of Fed policy will aid in returning still-elevated inflation to the 2% target.Key Quotes Current restrictive policy will help lower inflation.Monetary policy well positioned as fed reviews more data.It will take longer …

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• 16 May 2024 6:05 pm

  Exploring Performance of USD, US Stocks Amid Rate Outlook in Eventful Week

  

  The number of Jobless Claims increased to almost 1.8 million for this week on Thursday’s data, and this is not exactly encouraging. Yet, the US Dollar Index is 0.32% up, above the 104.60 mark at the time of writing. Following a sharp decline, the dollar is maintaining modest gains on …

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