Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 28 May 2024 11:04 am

  Gold Stabilizes as Inflation Data Takes Center Stage

  

  Gold prices found their footing in Asian markets on Tuesday, buoyed by a slightly weaker dollar. Traders were on edge, awaiting a series of crucial inflation readings this week, particularly the U.S. Personal Consumption Expenditures (PCE) index. The precious metal managed to recover some of its losses from the previous …

  Read More »
• 28 May 2024 5:14 am

  Market Drivers – US Session, May 28

  

  Bitcoin closed on an upward trajectory, driven by news of collaboration between Argentina’s Securities and Exchange Commission and El Salvador. The two countries are exploring further adoption of cryptocurrencies. BTC’s global spread closed at $69,528 per unit, slightly higher than the previous day’s closing price of $68,489. However, the larger-cap …

  Read More »
• 28 May 2024 4:50 am

  3 Drivers Behind Euro’s Uptrend

  

  The euro closed Monday’s trading higher rise, driven by an improvement in risk appetite cross financial markets, fresh German economic data, in addition to some other factors related to monetary policy. Wall Street has seen intensive stock buying since the beginning of morning trading in the markets on the first …

  Read More »
• 28 May 2024 1:57 am

  Pound Sterling consolidates its uptrend as fresh catalysts awaited

  

  Early on Tuesday’s the Asian session, the GBP/USD pair is trading slightly in the green near 1.2770. In response to the Fed’s hawkish remarks and the positive US statistics, traders reduce their bets on interest rate reductions by the Fed. The GBP could rise if the BoE decides to hold …

  Read More »
• 28 May 2024 12:51 am

  EU and US Stocks Close Higher on Rate Outlook, Dollar’s Decline

  

  In sparse trading, European stocks rose after an ECB official hinted that rate reduction could be considered gradually beginning next month. With US markets closed, Nasdaq 100 futures increased 0.4% to a record high. A little increase was led by automakers and utilities in the Stoxx Europe 600 index. Due …

  Read More »
• 27 May 2024 11:20 pm

  US Dollar stays in red territory ahead of GDP, PCE data

  

  Data on US income, spending, consumer confidence, and Q1 GDP will likely shape the US Dollar Index’s trajectory this week.Fed’s Beige Book report on Wednesday is expected to suggest a balanced economic backdrop. Investors anticipate less than 80% odds of November rate cut and 50% chance of cut in September. …

  Read More »
• 27 May 2024 9:25 pm

  Why does Billionaire Palihapitiya See US Economy in Recession?

  

  In an episode of the All-In Podcast, billionaire Palihapitiya discusses why over half of Americans believe the US economy is in a recession despite a 1.6% GDP rise last quarter. He suggests that the negative sentiment may be due to the components used to measure the GDP, which may give …

  Read More »
• 27 May 2024 8:43 pm

  Canadian Dollar gains momentum versus the weaker US counterpart

  

  The Canadian dollar surpasses the US dollar on Monday, but its success is inconsistent. Up until Friday’s GDP data, Canada doesn’t add much of importance to the economic calendar. The US markets are closed on Memorial Day, with low trading turnover. Due to a calm US market session, the Canadian …

  Read More »
• 27 May 2024 7:56 pm

  Yellen warns higher rates make it harder to manage deficit

  

  Treasury Secretary Janet Yellen has warned that the outlook for higher interest rates over the long haul makes it harder to contain US borrowing needs, heightening the importance of boosting revenue in negotiations with Republican lawmakers.The White House sees the inflation-adjusted interest payments compared with GDP as stabilizing at about …

  Read More »
• 27 May 2024 4:22 pm

  German Business Sentiment Stalls, Hinting at Gradual Economic Recovery

  

  German business confidence unexpectedly stagnated in May, defying forecasts of improvement. This suggests that the nation’s economic recovery this year will likely be a slow and gradual process. The Ifo institute’s business climate index held steady at 89.3 in May, falling short of analysts’ expectations of a reading of 90.4. …

  Read More »
• 27 May 2024 3:18 pm

  Oil Prices Steady Amid Holiday Lull, Inflation Concerns Remain

  

  Oil prices remained largely unchanged on Monday, experiencing only minor gains due to public holidays in Britain and the United States. The subdued trading followed a week marked by concerns about the trajectory of U.S. interest rates in the face of persistent inflation. Brent crude for July delivery saw a …

  Read More »
• 27 May 2024 1:15 pm

  Dollar Holds Steady Amid Global Inflation Watch, ‘Carry’ Trade Dominates FX

  

  The dollar maintained its position on Monday, despite being on track for its first monthly loss this year. This pause comes as investors keenly await inflation data from the U.S., Europe, and Japan, which will shape the global interest rate outlook. In recent months, foreign exchange trading has been driven …

  Read More »
• 27 May 2024 11:32 am

  European Markets Tread Cautiously Ahead of Inflation Data

  

  European stock markets opened the week on a subdued note, with many major markets closed for the holiday. Investors exercised caution ahead of crucial inflation data releases from both the U.S. and Europe, scheduled for later this week. The pan-European STOXX 600 index dipped slightly by 0.02% as of early …

  Read More »