Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 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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• 16 May 2024 4:52 pm

  U.S. Initial Jobless Claims Fall, But Remain Slightly Above Expectations

  

  In the week ending May 11, the number of Americans filing for first-time unemployment benefits decreased to 222,000. While this was a decline from the upwardly revised figure of 232,000 in the previous week, it was slightly above economists’ expectations, who had forecasted a reading of 219,000.

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• 16 May 2024 1:42 pm

  U.S. Dollar Steadies After Mild Inflation Data

  

  The U.S. dollar steadied in European trade on Thursday, rebounding slightly after dropping to multi-week lows overnight following a milder-than-expected U.S. inflation report. The Dollar Index, which measures the greenback against a basket of six other currencies, traded 0.1% higher at 104.285, recovering from a five-week low reached just below …

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• 16 May 2024 12:23 pm

  European Stocks Dip Despite Global Rally, Earnings Weigh

  

  Despite a global rally induced by U.S. inflation data, European stock markets experienced slight declines. The DAX in Germany, the CAC 40 in France, and the FTSE 100 in the U.K. all traded lower, with disappointing corporate earnings contributing to the subdued sentiment. Impact of Earnings Siemens shares dropped nearly …

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• 16 May 2024 10:55 am

  Oil Prices Extend Gains Amid Signs of Stronger U.S. Demand

  

  Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S., where data showed slower inflation than markets expected, bolstering the argument for an interest rate cut that could drive greater consumption. Brent futures rose 32 cents, or 0.4%, to $83.07 a barrel …

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• 16 May 2024 10:04 am

  Gold Prices Steady Amid Soft Inflation Data, Rate Cut Expectations Rise

  

  Gold prices stabilized in Asian trading on Thursday following robust overnight gains, propelled by softer inflation data that drove the dollar to one-month lows and increased speculation of impending interest rate cuts. With the yellow metal now within reach of May’s record highs, traders are wagering that the Federal Reserve …

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• 16 May 2024 9:44 am

  Asian Stocks Rise Despite Regional Challenges; Soft U.S. Inflation Boosts Sentiment

  

  Most Asian stocks climbed on Thursday, buoyed by upbeat sentiment following record highs on Wall Street. The rally came despite looming regional challenges, including economic contractions in Japan and escalating trade tensions between the U.S. and China. The positive lead from Wall Street, driven by softer-than-expected consumer inflation data, overshadowed …

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• 16 May 2024 3:50 am

  Inflation data suggests a rate cut is looming

  

  Wall Street closed Wednesday trading with a big win for risk appetite which managed to beat anxiety prevailed markets because of the second batch of US inflation data a day after the release of producer price data highlighted the rise in inflation to concerning levels that came above expectations. PPI …

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