Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 16 May 2024 2:36 am

  Gold Price Leaps Following Key Inflation Data

  

  Earlier during the North American trading session, gold price has significantly leapt reaching $2,390, its highest level in three weeks, with a gain of over 1%. The precious metal is trading at $2,388.78 per ounce at the time of writing, up +0.11%.This upward trend follows the release of data by …

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• 16 May 2024 1:36 am

  Market Drivers; US Session, May 15

  

  Risk appetite saw significant upward momentum due to the prevailing bearish sentiment toward the US Dollar following the release of US inflation data measured by the CPI for April. The USD Index (DXY) had a challenging session, declining further and revisiting the area near the key 200-day Simple Moving Average …

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• 16 May 2024 12:24 am

  US Treasury yields decline on renewed interest rate expectations

  

  US Treasury bond yields have been declining since the beginning of daily trading on Thursday, affected by inflation readings. The latest CPI print, for April, shed light on positive numbers that may push the Fed in the direction of lowering interest rates.The consumer price index reading in the United States …

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• 15 May 2024 11:20 pm

  USD/JPY declines following soft US CPI inflation

  

  The USD/JPY pair is easing back, US Dollar sees broad-market selling pressure. US CPI inflation ticked lower, sparking rate cut hopes. Japanese GDP in the barrel for early Thursday. The USD/JPY pair eased on Wednesday, backsliding into the 155.00 handle after the US Dollar (USD) eased across the board, shedding …

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• 15 May 2024 9:55 pm

  Bitcoin and Ethereum Price Analysis: May 15, 2024

  

  On May 15, 2024, Bitcoin was trading at approximately $62,775, up 1.8% in the last 24 hours. The US Consumer Price Index inflation data was the big event on the day, with expectations of a 3.4% year-on-year increase (slower than March’s 3.5%). Analysts speculated that a softer-than-expected CPI reading could …

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• 15 May 2024 8:41 pm

  Oil Slides Below $78.00 After OPEC, IEA Monthly Reports

  

  Oil prices are 0.25% down, sliding below $78.00 after both OPEC and the International Energy Administration (IEA) released their monthly reports. OPEC stuck to previous expectations, while sluggish demand is forecasted in the IEA release. The US Dollar Index eases ahead of the US CPI print, with markets expecting a …

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• 15 May 2024 6:51 pm

  GBP/USD climbs following US inflation data

  

  GBP/USD climbs past 100-DMA, with buyers gaining traction. Buying interest remains strong, as RSI points upwards, yet to become overbought. Key resistance lies at 1.2670, which would exacerbate followed by 1.2700. Sellers target a close below the 100-DMA to challenge 1.2600.The Pound Sterling advanced some 0.30% and hit a five-week …

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• 15 May 2024 4:34 pm

  US Consumer Price Index (CPI) Matching Market Expectations

  

  The latest report from the US Bureau of Labor Statistics (BLS) reveals that the Consumer Price Index (CPI), a key measure of inflation in the United States, remained unchanged at 3.4% on a yearly basis for the month of April. This figure aligns precisely with market forecasts, indicating stability in …

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• 15 May 2024 3:09 pm

  AWS Announces €7.8 Billion Investment in German Cloud Infrastructure by 2040

  

  Amazon Web Services (AWS) has revealed its ambitious plan to invest €7.8 billion ($8.4 billion) in Germany by 2040, aimed at establishing a dedicated cloud computing infrastructure tailored for Europe. This initiative underscores AWS’s commitment to expanding its presence in the region and addressing the growing demand for cloud services …

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• 15 May 2024 2:28 pm

  Oil Prices Rise on Weakening Dollar, Inventory Declines, and Inflation Outlook

  

  Boosted by Multiple FactorsOil prices climbed on Wednesday, propelled by a combination of factors including a weakening U.S. dollar, inventory declines, and optimistic inflation data. Brent crude futures surged by 0.5% to reach $82.77 a barrel, while U.S. West Texas Intermediate crude futures (WTI) also rose by 0.5% to $78.44 …

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• 15 May 2024 2:26 pm

  European Stocks Hit Record High on Upbeat Earnings, Await U.S. Inflation Data

  

  Record High for European StocksEurope’s benchmark index surged to a record high on Wednesday, propelled by optimistic earnings reports in the industrial and healthcare sectors. The pan-European STOXX 600 climbed 0.4%, building on its previous record close. Earnings BoostShares of credit data firm Experian soared 7.8% after announcing an optimistic …

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• 15 May 2024 11:54 am

  Bitcoin Falls Amidst Dollar Weakness and Regulatory Concerns, Altcoins Extend Losses Ahead of U.S. CPI Data

  

  Bitcoin’s DownturnBitcoin experienced a slight decline on Wednesday, failing to capitalize on a weakened dollar as traders adopted a cautious stance ahead of key U.S. consumer inflation data. The world’s largest cryptocurrency dipped by 0.9% to $61,974.9, signaling subdued market sentiment. Fed’s Cautionary RemarksBitcoin’s lackluster performance persisted despite the dollar’s …

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• 15 May 2024 10:32 am

  Gold Steadies, Copper Hits Two-Year Highs as Markets Brace for U.S. Inflation Data

  

  Gold’s Resilience:Gold prices stabilized in Asian trading on Wednesday, benefiting from a weaker dollar as investors awaited key U.S. consumer inflation data. Federal Reserve Chair Jerome Powell’s remarks suggesting a pause in U.S. rate hikes contributed to the dollar’s decline, supporting gold’s overnight gains. Anticipation of CPI Data:Market focus shifted …

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