Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 14 May 2024 3:33 am

  Q1 Financial Insights: A Global Market Overview

  

  In defiance of prevailing concerns over escalating interest rates and anticipated delays in their mitigation until mid-year, US stocks have orchestrated a resolute ascent since the dawn of 2024. Amidst a landscape where inflation remains static, yet optimism for its eventual ebb extends, the stock market has burgeoned, boasting a …

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• 14 May 2024 1:24 am

  Market Drivers; US Session, May 13

  

  Amid growing cautious ahead of the US CPI, gold prices reversed two straight sessions of gains and fell back to the $2,330 zone. Meanwhile, the price of an ounce of silver increased just above $28.00. Despite slight losses, the USD Index (DXY) was able to maintain its position above the …

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• 14 May 2024 1:14 am

  Oil prices surge on optimistic demand expectations

  

  Oil prices surge on Monday due to improving demand in the US and China, the top two oil consumers. WTI crude futures rose 1.1% to settle at $79.12 a barrel, while Brent crude futures gained 0.7% to settle at $83.36 a barrel. Prices were supported by expectations of strong U.S. …

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• 14 May 2024 12:02 am

  Does Bitcoin show signs of bouncing back?

  

  The cryptocurrency market is consolidating, and Bitcoin appears to be on the rise. With the price dropping and now trading at $63,085, there may be a change in the market structure that favours bulls. The trend line that links the all-time high of $73,949 and ensuing lesser highs should be …

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• 13 May 2024 10:39 pm

  Yen eases amid uncertainty ahead of key US data

  

  The Japanese Yen has fallen further due to investors’ uncertainty about the Bank of Japan’s (BoJ) policy normalization process. Japan’s economy is estimated to have contracted by 0.4% in the January-March period, exhibiting a weak start to the year. The US Dollar will dance to the tunes of US consumer …

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• 13 May 2024 9:27 pm

  Canadian Dollar Trades Flat Amid Light Economic Calendar

  

  The Canadian Dollar flattened on Monday as the new trading week began with a data-light economic calendar. Investors are focusing on rate cut expectations from the Fed with updates to US inflation data due later in the week. On the Canadian front, there was a sharper-than-expected decline in new Building …

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• 13 May 2024 8:12 pm

  EUR/USD gets closer to monthly high amid interest rate cut speculations

  

  The EUR/USD pair has reached a monthly high of 1.0800 due to improved market sentiment and the expectation that interest rate cuts from the ECB will be more and start earlier than the Fed. Financial markets have anticipated that the ECB will reduce interest rates by 70 basis points this …

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• 13 May 2024 7:57 pm

  Treasury yields decline amid light economic calendar

  

  US bond yields continue to decline amid the absence of key economic data, leading to the continuation of factors that had led last week to a decline in dollar assets, most notably employment data.There are also speculations for inflation data; the CPI and PPI data in the United States, as …

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• 13 May 2024 2:42 pm

  European Markets Soar to New Heights, Outperforming US Counterparts

  

  Goldman Sachs strategists reported on Monday that European markets have reached new all-time highs, with the STOXX 600 and Euro Stoxx 50 climbing 10% and 14% year-to-date, respectively, outpacing both the S&P 500 and NASDAQ. The UK, France, Italy, and Spain have all seen market highs since the onset of …

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• 13 May 2024 12:55 pm

  Bitcoin Faces Pressure as Dollar Strengthens Ahead of U.S. Inflation Data

  

  Bitcoin’s price dipped on Monday, once again testing crucial support levels as sentiment towards cryptocurrencies struggled to improve amid anticipation of U.S. inflation data that could influence interest rates. While the dollar stabilized after last week’s losses, it added to the downward pressure on crypto markets. Traders maintained a bias …

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• 13 May 2024 11:20 am

  Dollar Holds Steady as Markets Await U.S. Inflation Data

  

  The dollar consolidated against major peers on Monday as market participants awaited U.S. inflation data to assess the prospects of interest rate cuts this year. After a softer-than-expected U.S. payrolls report for April and seemingly dovish Federal Reserve policy announcement earlier this month, expectations have increased for rate reductions this …

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• 13 May 2024 11:18 am

  Oil Prices Decline Amid Weak Demand Signals and Fed Comments

  

  Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world’s biggest economy. Brent crude futures slid 7 cents, or 0.1%, to $82.72 a …

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• 13 May 2024 10:02 am

  Mixed Economic Signals and Trade Tensions Shake Chinese Markets

  

  Most Asian stocks moved in a flat-to-low range on Monday, with Chinese markets logging sharp swings on mixed economic and policy cues, while investors turned cautious ahead of key U.S. inflation data this week. Chinese stocks were pressured by the prospect of more U.S. trade tariffs against the country. A …

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