Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 19 July 2024 1:38 pm

  Dollar Rebounds Amidst Uncertainty, Sterling Slips on Weak Retail Sales Data

  

  The U.S. dollar gained slightly on Friday, setting the stage for a positive week, while the British pound retreated following the release of disappointing retail sales figures. Dollar Finds Support: The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.2% to 104.065, recovering from …

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• 19 July 2024 12:24 pm

  July’s FOMC Meeting: Holding Steady or Rate Cut?

  

  The July meeting is likely to see continued stable rates. However, a future rate cut depends on inflation and the overall health of the economy. The Fed will be monitoring data closely and adjusting policy as needed. The Federal Reserve’s next policy meeting is coming up on July 30-31, 2024. …

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• 19 July 2024 12:23 pm

  European Stocks Slump on Commodity and Tech Weakness, Mixed Earnings Add to Uncertainty

  

  European shares faced a challenging day on Friday, extending their weekly losses as a combination of factors weighed on investor sentiment. The pan-European STOXX 600 index experienced a significant decline of 0.6%, reaching a two-week low, amid a widespread sell-off across various sectors. The travel and leisure sector suffered the …

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• 19 July 2024 11:42 am

  Gold Prices Tumble from Record Highs Amid Profit-Taking and Dollar Strength

  

  Gold prices experienced a sharp decline in Asian trading on Friday, retreating from recent record highs due to a combination of profit-taking and a strengthening dollar fueled by speculation over a potential second term for Donald Trump and stricter U.S. trade policies. The spot gold price plummeted 0.9% to $2,423.89 …

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• 19 July 2024 11:11 am

  Asian Stocks Slide Amid US-China Trade War Concerns

  

  Asian stock markets experienced a broad decline on Friday, fueled by persistent worries over a potential trade war between the U.S. and China. The technology sector led the losses, despite positive earnings from TSMC, as investors continued to rotate out of tech stocks and into economically sensitive sectors. Key Takeaways: …

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• 19 July 2024 4:25 am

  Market Drivers: US Session – July 19

  

  ECB Policy Decision, USD Gains Momentum: The European Central Bank (ECB) adhered to market expectations by leaving its policy rates unchanged. President Christine Lagarde’s remarks also failed to surprise investors. However, the US dollar (USD) regained strength, fueled by rising yields ahead of key Federal Reserve (Fed) speakers scheduled for …

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• 19 July 2024 4:11 am

  How have US stocks reacted to rate bets, statements by Fed officials?”

  

  On Thursday, US stocks experienced significant losses after profit-taking triggered by the desire to benefit from the recent gains they had achieved over the past few days. This came in the wake of increasing expectations of an interest rate cut by the Fed in September. The recent surge in stock …

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• 18 July 2024 11:14 pm

  Euro Continues to Slide After ECB’s Policy Meeting

  

  The euro has been on a downward trend since the European Central Bank (ECB) decided to keep interest rates unchanged last Thursday. The euro/dollar pair fell to 1.0900 from its previous close of 1.0935. ECB Policy DecisionThe ECB’s decision to maintain the deposit rate at 3.75% was in line with …

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• 18 July 2024 8:45 pm

  Bitcoin Stalls Despite Positive Signs

  

  Bitcoin’s price encountered resistance around $65,000 on Thursday, despite positive on-chain data indicating increased holdings among short-term investors and a slight rise in inflows to US spot Bitcoin ETFs. Analysts see the $65,000 level as a crucial hurdle for bulls to overcome.Bitcoin Struggles to Breach $65,000The price of Bitcoin (BTC) …

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• 18 July 2024 7:57 pm

  GBP/USD slides below 1.3000 despite solid UK data

  

  The GBP/USD pair falls below the 1.3000 barrier and trades with losses of more than 0.20% as the US dollar strengthens and the technical picture indicates that momentum is still bullish and the RSI is still positive despite the recent decline. Watch out for these important support levels: 1.2894, 1.2861, …

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• 18 July 2024 7:00 pm

  Fed’s Goolsbee: Inflation fight is not done but I feel a lot better

  

  In an interview with Yahoo Finance on Thursday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted that they have had multiple months of better inflation data. Goolsbee noted that he feels a lot better on inflation but added that the fight is not done yet.The US Dollar Index …

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• 18 July 2024 3:56 pm

  The Pound’s Ascent: A Year-Long High Amid Global Rate Shifts, But Can It Last?

  

  The British pound has soared to its highest point in a year, propelled by investors seeking attractive returns as global interest rates decline. However, financial experts warn that sustaining this momentum may require more than just elevated interest rates. Recent data reveals that UK inflation remains stubbornly high, prompting traders …

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• 18 July 2024 1:41 pm

  European Shares Rise on Energy Gains, ECB Decision Looms

  

  European shares experienced a modest rebound on Thursday, driven by gains in the energy sector, which offset declines in technology stocks. However, investor attention remained firmly fixed on the European Central Bank’s (ECB) impending interest rate decision. The pan-European STOXX 600 index edged 0.3% higher, breaking a three-day losing streak. …

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