Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 20 June 2024 1:34 am

  Sterling rises as UK CPI interacts ahead of BoE decision

  

  As expected, UK inflation continues to fall following the release of economic data on Wednesday. This data pushed the pound sterling above 1.2700. However, steady growth in the UK services sector may lead the Bank of England to hold interest rates steady at its meeting today, June 20. Disappointing retail …

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• 19 June 2024 11:41 pm

  WTI touches $81.00 amid holiday-thinned trading

  

  Despite US exchanges being closed on Juneteenth, WTI crude tested into new highs on Wednesday on light trade, trimming $81.00 per barrel as commodities drifted higher. As Crude Oil recovers from a recent swing low, WTI reached a new seven-week high and is expected to continue rising for a second …

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• 19 June 2024 10:38 pm

  By Free Pass, Ethereum Survives Further Regulatory Scrutiny

  

  Ethereum has received a free pass from the US Securities and Exchange Commission (SEC) as the regulator decided to drop its investigation into the altcoin for allegedly selling the token as a security. SEC’s enforcement division has notified Ethereum developers that the investigation into Ethereum 2.0 is being closed. Thid …

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• 19 June 2024 9:17 pm

  US Dollar consolidates gains amid remarks by Fed officials

  

  US Dollar pauses as investors dissect recent comments from Federal Reserve officials. Markets appear skeptical about the Fed’s guidance and continue to anticipate potential cuts in September. Fed officials’ cautious remarks limit downside in the US Dollar.On Wednesday, the US Dollar as measured by the DXY Index (DXY) remained relatively …

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• 19 June 2024 8:09 pm

  Gold prices stabilize amid thin holiday trading

  

  Gold (XAU/USD) trades in a tight range in the $2,320s in quiet markets on Wednesday. A lack of risk sentiment and low holiday volume caps volatility in the safe-haven asset. The USD – to which Gold is negatively correlated – trades broadly unchanged and since US bond markets are closed …

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• 19 June 2024 1:45 pm

  European Stocks Ease Despite UK Inflation Hitting Target; Nvidia Takes Crown as Most Valuable Company

  

  European stock markets experienced a slight decline on Wednesday, even as UK inflation returned to the Bank of England’s target, with trading activity subdued due to a U.S. holiday. The DAX index in Germany dipped 0.2%, the CAC 40 in France also fell 0.2%, and the FTSE 100 in the …

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• 19 June 2024 12:23 pm

  U.K. Inflation Hits Central Bank Target, Raising Hopes for Rate Cuts

  

  In a significant development for the UK economy, inflation has finally fallen back to the Bank of England’s 2% target for the first time in nearly three years. This encouraging news has sparked hopes that the central bank may soon begin easing its monetary policy and cutting interest rates. The …

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• 19 June 2024 9:18 am

  Oil Markets in Flux: Balancing Geopolitical Tensions with Demand Concerns

  

  Oil prices maintained a delicate equilibrium on Wednesday, caught between escalating geopolitical tensions in Europe and the Middle East and growing apprehension over a surprising build in U.S. crude inventories. The market remained cautiously optimistic, with Brent crude futures edging up by a marginal 2 cents to $85.35 a barrel, …

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• 19 June 2024 3:17 am

  Data remains prerequisite for easing among cautiously optimistic Fed officials

  

  Six senior Federal Reserve officials from various regions made important statements today, Tuesday, adding to the ongoing discussion about future U.S. monetary policy. The economic agenda also featured presentations and discussions with Fed officials, including two voting members of the Federal Open Market Committee. The next Federal Open Market Committee …

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• 19 June 2024 1:32 am

  GBP/USD gears up ahead of UK CPI inflation reading

  

  The GBP/USD pair is currently trading around 1.2700 as markets prepare for a lopsided Wednesday session with a US holiday and a fresh update on UK CPI inflation. The Bank of England’s interest rate call is expected on Thursday, and another rate hold is expected. Market sentiment was broadly pinned …

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• 18 June 2024 9:41 pm

  Could OPEC lose its control over global oil prices?

  

  The International Energy Agency claims that efforts by the Organization of the Petroleum Exporting Countries and its partners, or OPEC+, to support prices by reducing production could be “upended” by an impending surplus in the world’s oil supply. The United States and other American nations are expected to lead the …

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• 18 June 2024 8:20 pm

  Gold prices decline despite positive central bank demand forecast

  

  Gold (XAU/USD) price has fallen over a quarter of a percent on Tuesday as the market shifts towards riskier assets over safe-havens. A World Gold Council survey indicates that central bank demand is expected to remain strong in 2024, adding a backwind to the gold price. The decline comes as …

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• 18 June 2024 7:07 pm

  US Dollar Trades With Loss Following Bad Retail Sales Data

  

  The US Dollar has been trading in the red after a disastrous US Retail Sales, which missed the 0.2% consensus and resulted in a contraction in retail sales without transportation. This has led to a second wave of US Dollar easing, with the Redbook Index for June now at 5.9% …

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