Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 1 May 2024 5:38 am

  AstraZeneca’s Fresh Drug Updates Counteract Vaccine Impact

  

  AstraZeneca is beating the odds this week. The COVID-19 vaccination is still controversial, but it doesn’t stop the company’s stock price rising. With the 1.3% increase today, the share price has recently surged over 8% within only five days, building on the enthusiasm from the strong Q1 results announced last …

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• 1 May 2024 5:09 am

  Market Drivers; US Session, April 30

  

  In the face of ongoing caution, the US dollar appreciated sharply ahead of Wednesday’s FOMC meeting. Weekly mortgage applications are due in the first turn on May 1. This is followed by the ISM Manufacturing PMI, the final S&P Global Manufacturing PMI, the ADP Employment Change, and construction spending. Ultimately, …

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• 1 May 2024 4:02 am

  Fed poised to keep rates unchanged despite expected rhetoric change

  

  Markets expect the Fed rate to remain unchanged at the end of the Federal Open Market Committee meeting today, Wednesday, May 1, as inflation data for early 2024 has raised concerns that the transition to a 2.00% annual inflation rate may take longer than previously expected.Markets are awaiting the Fed’s …

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• 1 May 2024 2:15 am

  Amazon Surges following Strong Q1 earnings amid challenges

  

  Beyond forecasts, Amazon’s performance during Q1 was a remarkable success, with continued dominance in both cloud computing and e-commerce. The path ahead is not free from challenges, though. To sustain development trajectory, Amazon needs to strategically manage issues including consumer spending patterns, address intensifying competition, and economic concerns. The massively …

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• 1 May 2024 1:15 am

  Gold price dips ahead of FOMC decision

  

  XAU/USD trades at $2,292, down by over 1.50% on Tuesday. The US Bureau of Labour Statistics reported a jump in the Employment Cost Index (ECI) for April, and American consumer sentiment deteriorated further. Gold prices dropped below the $2,300 threshold on Tuesday due to rising employment costs in the US, …

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April, 2024

• 30 April 2024 9:57 pm

  US dollar consolidates gains ahead of FOMC decision

  

  The US Dollar Index is currently trading higher at 105.95, with markets expecting a hawkish hold by the Federal Reserve (Fed) on Tuesday. The US economy is experiencing resilience and persistent inflation, making a case for a hawkish hold by the FOMC. Mid-tier data supports the dollar, with the Conference …

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• 30 April 2024 9:04 pm

  US dollar benefits from US employment data

  

  The US dollar continues to rise since the beginning of daily trading on Tuesday amid speculations concerning the looming Federal Reserve’s decision on the US interest rate as well as the recent US employment data in a trading week that is busy with key economic events.The US currency benefited from …

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• 30 April 2024 8:00 pm

  Canadian dollar declines on higher risk-off worries

  

  The Canadian GDP print came below forecast, further weakening the Canadian currency. US wage growth picks up speed once more, dash hopes for rate cuts. Tuesday saw a weakening of the Canadian currency relative to the US dollar following a risk-off surge in the US market session that followed above-average …

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• 30 April 2024 7:19 pm

  GBP/USD Retreats Ahead of FOMC Decision

  

  The GBP/USD pair declines 0.36% from its daily peak, under pressure from indications of rising US inflation. The pair struggles above the 200-day moving average at 1.2564, hinting at potential further declines.Support levels are seen at: November 14, 2023, high of 1.2506; breaching this could lead to further support tests …

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• 30 April 2024 3:43 pm

  German economy avoids recession in Q1

  

  Preliminary data from the Federal Statistical Office released on Tuesday indicated that the German economy narrowly avoided a recession at the outset of this year, experiencing slight but better-than-expected growth, propelled by exports and investments in the construction sector. In the first quarter, the economy saw a modest expansion, with …

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• 30 April 2024 2:17 pm

  In April, Inflation in the Euro Zone Reached a Stable Point

  

  In April, the inflation rate in the euro zone remained stable in line with analysts’ expectations, while the core inflation rate showed a slight slowdown. Data released today, Tuesday, April 30, revealed that the consumer price index in the euro zone increased by approximately 2.4% this month, matching both analysts’ …

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• 30 April 2024 1:50 pm

  Gold declines with the rise of dollar and anticipation of Fed meeting

  

  Gold is on track for its third consecutive month of gains despite experiencing a price decline on Tuesday. This was driven by a strengthening dollar ahead of the Federal Reserve’s monetary policy meeting. Spot gold fell by 0.6 percent to $2,320.54 per ounce by 06:32 GMT, while US gold futures …

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• 30 April 2024 1:46 pm

  Yen declines after reports of interference by Japanese authorities, focus turns to Fed

  

  On Tuesday, the yen retraced some of its substantial gains from Monday, attributed to potential intervention by Japanese authorities. The Japanese currency declined by 0.40 percent to 157.00 against the dollar, moving away from its 34-year low of 160.245 recorded on Monday. Traders speculated that Tokyo intervened by purchasing yen, …

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