Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 7 May 2024 7:51 pm

  Fed’s Kashkari: Rates will be higher for longer

  

  President of the Federal Reserve (Fed) in Minneapolis, Neel Kashkari, made headlines on Tuesday for the second time in a row as he discussed the Fed’s outlook for inflation and interest rates for the remainder of the year.Kashkari would need to see multiple readings on inflation to be confident enough …

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• 7 May 2024 6:54 pm

  Gold price declines on stronger Dollar

  

  The Gold Index, XAU/USD, was trading down by roughly -0.33% earlier on Tuesday, in the $2,310s, but at the time of writing, it is only -0.20% down, trading at $2,319.56, as the US Dollar recovers, reducing the cost of Gold which is priced in USD. Gold price declines on Tuesday …

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• 7 May 2024 3:23 pm

  European shares at a one-month high, supported by strong earnings results

  

  European stocks surged on Tuesday, reaching their highest level in over a month, buoyed by robust earnings reports from companies like Swiss UBS and Italian UniCredit, alongside optimistic sentiment surrounding potential interest rate cuts. At 0710 GMT, the European STOXX 600 index climbed 0.6 percent, building on its highest weekly …

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• 7 May 2024 12:19 pm

  Japan’s Nikkei closed at a 3-week high

  

  On Tuesday, Japan’s Nikkei index surged over 1 percent, reflecting improved investor sentiment driven by heightened bets on potential US interest rate cuts and sustained gains in the technology sector. Closing at 38,835.10 points, the Nikkei index climbed 1.57 percent, marking its highest closing level since April 15. The broader …

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• 7 May 2024 10:46 am

  Japanese yen declines despite continued fears of state intervention

  

  On Tuesday, the yen continued its decline against the dollar, influenced by interest rate differentials despite warnings from Japanese officials following suspected interventions triggered by substantial dollar selling last week. The Australian dollar dipped 0.36 percent to $0.6601 USD from its recent peak of $0.6650 USD reached last Friday, matching …

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• 7 May 2024 10:44 am

  Oil rises after Israeli strikes on Rafah and the continuation of truce talks

  

  Oil prices climbed on Tuesday following reports of Israeli airstrikes on the Gaza city of Rafah, with ceasefire negotiations ongoing but no agreement reached yet with Hamas. By 0400 GMT, Brent crude futures rose by 23 cents, or 0.28 percent, reaching $83.56 per barrel. Similarly, US West Texas Intermediate crude …

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• 7 May 2024 9:55 am

  Gold rises with US rate cut bets and the Middle East conflict

  

  Gold Prices Rise on Rate Cut Bets and Safe-Haven Demand Amid Gaza Uncertainty Gold prices climbed on Tuesday, supported by expectations of potential interest rate cuts by the Federal Reserve later this year and increased demand for the precious metal as a safe haven amid uncertainty surrounding the ceasefire in …

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• 7 May 2024 5:55 am

  Market Drivers, US Session, May 6

  

  As traders examined Fed interest rate cut bets, gold prices rose above $2,300 per troy ounce. After a recent dip, the US dollar was able to rise as investors examined the US labour market report. After three weeks of declines, the USD Index recovered and crossed over the 105.00 mark. …

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• 7 May 2024 5:36 am

  What is behind Gold’s Ascending Uptrend: Key Factors, Market Insights

  

  Gold prices have recently surged to historical levels, mainly capitalizing on several factors that have come to the forefront, including its prestigious status as a trusted safe haven. In this article, we’ll delve into these elements and explore their impact on the precious metal’s bullish trajectory.The Federal Reserve’s decisions, including …

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• 7 May 2024 12:58 am

  Oil rises amid escalating Middle East tensions

  

  Oil prices closed trading on Monday in an upward direction, supported by the escalating tensions in the Middle East after the launch of Israeli military operations in southern Gaza, which threatens a humanitarian catastrophe that the United Nations and other human rights organizations have warned of.Oil futures rose to $78.62 …

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• 6 May 2024 11:48 pm

  RBA’s Causiously Handling Inflation, Growth, AUD

  

  The Reserve Bank of Australia is at a turning point in history, and both the financial markets and people will be impacted by its looming action. The stakes are high as RBA Governor Michele Bullock gets ready to reveal the monetary policy. Let’s attempt to examine the main elements at …

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• 6 May 2024 10:45 pm

  US dollar opens new trading week lower

  

  The U.S. dollar continues its decline since the start of Monday’s trading, influenced by employment data released last Friday. Both job growth and wage growth in the United States have shown signs of weakening.Dollar Index Movement:The dollar index, which measures the performance of the U.S. currency against major currencies, dropped …

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• 6 May 2024 9:31 pm

  US Stocks Surge on Strong Jobs Data

  

  US Stocks on Wall Street continue to achieve significant gains, driven by crucial employment data. These numbers hold great importance and directly impact the Federal Reserve’s decisions and the future trajectory of interest rates.Non-Farm Payrolls (NFP) Report: In April, the NFP added 175,000 jobs in non-agricultural sectors, surpassing the previous …

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