Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 3 May 2024 4:09 pm

  Inflation in Türkiye rose near 70%, recording the highest level since 2022

  

  Official data released on Friday revealed that annual consumer price inflation in Turkey surged to 69.8 percent in April, marking the highest level since late 2022. This figure, while slightly below expectations, was primarily driven by significant increases in education, restaurant, and hotel prices. According to the Turkish Statistical Institute, …

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• 3 May 2024 2:33 pm

  European stocks rise thanks to banking results and technology sector gains

  

  European stocks opened higher on Friday amid a state of joy among investors with a group of strong results from French banks, including Société Générale and Credit Agricole, while the technology sector received support thanks to strong results announced by Apple in addition to an unprecedented share buyback. The European …

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• 3 May 2024 1:02 pm

  JPY poised to record best weekly performance in more than a year, USD declines

  

  The yen is poised to achieve its most impressive weekly performance in over a year on Friday, propelled by suspected intervention from Tokyo earlier in the week to prevent the Japanese currency from reaching its lowest levels in 34 years. This move has led to a general decline in the …

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• 3 May 2024 11:00 am

  Gold heading lower for the second week ahead of US jobs data

  

  Gold prices are heading to decline for the second week in a row, despite the stability of prices on Friday, as investors await non-farm payrolls data in the United States, which may provide indications of the position that the Federal Reserve (the US central bank) will adopt regarding monetary policy. …

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• 3 May 2024 9:39 am

  April 2024 US Employment Data Projections

  

  Today marks the eagerly anticipated release of the most crucial US employment data, the Non-Farm Payrolls (NFP) report, promising insights into the economic landscape of the United States. Anticipation looms large as expectations lean towards a notable deceleration in job growth, counterbalanced by a projected stability in the unemployment rate …

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• 3 May 2024 3:11 am

  Market Drivers; US Session, May 2

  

  The US dollar was not able to sustain the initial optimism and suffered additional selling pressure amidst renewed strength in the yen and steady prudence ahead of the release of US Nonfarm Payrolls on Friday. The USD Index navigated the area of three-week lows around 105.50. What to watch on …

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• 3 May 2024 1:18 am

  Apple tops earnings expectations

  

  Although Apple’s quarterly sales were 4% lower than they were a year ago, the corporation nevertheless managed to beat estimates for both revenue and earnings per share. Because Apple its scale and the fact that it is a significant user of semiconductors, screens, and other components, the maker of the …

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• 2 May 2024 11:26 pm

  Investors’ appetite for Tech rises ahead of Apple’s earnings

  

  Awaiting Apple’s earnings, scheduled after the bell, investors’ enthusiasm for technology equities grew. Following a turbulent Wednesday, US market indexes were rising as Jerome Powell, the chair of the Federal Reserve, gave investors some comfort from their growing concern of an interest rate hike. He did, however, also say that …

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• 2 May 2024 10:05 pm

  Bitcoin recovers after crypto washout, Fed decision

  

  After losses during the past trading session, Bitcoin is making an attempt to recover. After plunging over 6% on Wednesday and having its worst monthly performance in April since late 2022, it has bounced back from the lows set on Wednesday, currently trading at $590,111 as of this writing. The …

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• 2 May 2024 9:14 pm

  Binance founder faces prison sentence on money-laundering violation

  

  Changpeng Zhao, the founder of Binance exchange, has been sentenced to four months in prison, a lighter penalty than other crypto executives have faced since the industry’s collapse in 2022. Zhao pleaded guilty last year to a money-laundering violation, acknowledging that his company allowed terrorist groups and other criminals to …

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• 2 May 2024 8:36 pm

  US dollar still pressured despite jobless claims figures, less hawkish Fed

  

  The US Dollar Index, or DXY, was trading slightly higher at 105.80 earlier on Thursday. Despite cautious words made by Fed Chair Jerome Powell regarding inflation and its unclear future trajectory, the dollar saw a brief upward momentum. Weekly Jobless Claims data appear to be helping the dollar, which is …

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• 2 May 2024 6:59 pm

  What Can Initial Jobless Claims Tell About US Economy?

  

  The number of Americans filing new unemployment benefits remained low last week, indicating a tight labour market that should continue to support the economy in the second quarter. However, economists dismissed data from the Labour Department showing growth in worker productivity almost stalled in Q1, arguing that the trend in …

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• 2 May 2024 3:41 pm

  Oil Prices Rebound Following Seven-Week Low Close

  

  Oil prices rebounded on Thursday after three consecutive days of losses that brought prices to their lowest levels since mid-March. Brent crude futures for July rose by 79 cents, or 0.95%, to reach $84.23 a barrel by 0959 GMT. Meanwhile, U.S. West Texas Intermediate (WTI) crude for June climbed by …

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