Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 3 June 2024 10:19 pm

  Dow Jones retreats following ISM PMI

  

  Investors’ growing concerns regarding weakening US data have caused the Dow Jones to reverse. Bets on a November Fed rate drop have taken over in the markets. With a steep decline in stocks on Monday, NFP week officially begins. Investors pulled back after the US ISM Manufacturing Purchasing Managers Index …

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• 3 June 2024 8:02 pm

  Gold rebounds after US Manufacturing ISM data

  

  Gold recovers from three-week lows after negative US ISM Manufacturing data and fall in US yields. Asian demand and cooling inflation expectations further support Gold’s bounce. Technicals remain bearish after a breakout from a Bear Flag. Gold (XAU/USD) recovers to trade in the $2,340s on Monday after the release of …

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• 3 June 2024 7:17 pm

  New York Stock Exchange Faces Technical Issue Impacting Tens of Stocks

  

  The New York Stock Exchange said that technical issue is related to a mechanism designed to prevent stock prices from swinging wildly.On Monday, the New York Stock Exchange said Monday’s technical issue is related to a mechanism designed to prevent stock prices from swinging wildly as Berkshire Hathaway and dozens …

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• 3 June 2024 3:24 pm

  Dollar Stabilizes on Easing Inflation, Rate Cut Prospects in Focus

  

  The U.S. dollar remained stable on Monday as investors grew increasingly confident about the possibility of the Federal Reserve cutting interest rates in 2024 due to signs of easing inflation. Meanwhile, the euro remained calm ahead of an expected rate cut by the European Central Bank this week. Emerging market …

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• 3 June 2024 1:59 pm

  European Stocks Rise on ECB Rate Cut Anticipation, Focus on US Jobs Data

  

  European stock markets rebounded on Monday, driven by investor optimism surrounding an expected interest rate cut from the European Central Bank (ECB). Simultaneously, government bond yields decreased, while attention shifted to U.S. jobs data as a key indicator of inflation trends. The pan-European STOXX index experienced a 0.6% increase by …

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• 3 June 2024 1:07 pm

  Eurozone Manufacturing Downturn Shows Signs of Easing

  

  The prolonged downturn in eurozone manufacturing activity may be nearing its end, according to a recent survey revealing a slower pace of decline in new orders compared to the past two years. This positive development has led to improved business confidence within the sector. HCOB’s final euro zone manufacturing Purchasing …

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• 3 June 2024 10:50 am

  Gold Dips as Risk-On Sentiment and Easing Geopolitical Tensions Outweigh Rate Cut Hopes

  

  Gold prices retreated in Asian trading on Monday, despite a weaker dollar and increased expectations of rate cuts. A surge in risk-driven assets, fueled by optimism over cooling U.S. inflation and potential easing of geopolitical tensions in the Middle East, overshadowed the allure of the yellow metal. Spot gold declined …

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• 3 June 2024 3:36 am

  Weekly Recap: Global Markets Navigate Inflation Concerns, Policy Shifts, and Oil Uncertainty

  

  As May draws to a close and June begins, financial markets worldwide find themselves at a critical juncture. Economic data reveals a mixed picture, with signs of easing inflation tempered by ongoing concerns about growth and the potential for further policy tightening. Central banks grapple with diverging paths, while oil …

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• 1 June 2024 3:05 am

  White House Advisor Comments on PCE Data

  

  Interviewed by Bloomberg TV, White House Advisor Jared Bernstein commented on the US economic scene post the key inflation released on Friday. Asked whether Americans are back to soft landing talk? Bernstein said that the consensus among many was that the kind of stall and disinflation in Q1 of this …

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• 1 June 2024 12:09 am

  Why have gold prices retreated following PCE data?

  

  Both spot gold and gold futures are down about -0.70 following the US PCE data released on 31/05/2024, the persistent question now is: “What factors and market drivers have recently impacted the performance of the precious metal?”Before we dive into the factors affecting their performance, let’s briefly understand the differences …

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May, 2024

• 31 May 2024 11:13 pm

  Dow Jones rebounds after a heavy week of losses

  

  Dow Jones rebounds from lows near 38,000.00 after heavy backslide. Market sentiment recovering as rate cut hopes rise once again. US PCE Price Index inflation cools faster than expected. The Dow Jones Industrial Average (DJIA) rebounded nearly 580 points on Friday as investor sentiment turned higher after US Personal Consumption …

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• 31 May 2024 8:26 pm

  Oil falls back in red territory following PCE figures

  

  Crude prices gave up on previous attempts to avert losses and ultimately lost -0.69%, trading at $76.85 per barrel, the low of the North American session, while Brent dropped to $81.03 earlier in the day. At the time of writing, Crude Oil (WTI) trades at $77.31 and Brent Crude at …

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• 31 May 2024 5:04 pm

  U.S. Inflation Stalls, Raising Concerns for Fed and Rate Cut Timeline

  

  U.S. inflation remained unchanged in April, raising concerns for the Federal Reserve that the high pace of price increases might persist longer than expected. This development casts doubt on the timeline for potential interest rate cuts. The personal consumption expenditures (PCE) price index, a key inflation gauge closely monitored by …

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