Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 11 June 2024 9:46 am

  Oil Prices Slip as Investors Await Key Inflation Data and Fed Meeting

  

  Oil prices edged lower on Tuesday, as market participants adopted a cautious stance in anticipation of crucial U.S. inflation data and the outcome of the Federal Reserve’s policy meeting. These events are poised to offer valuable insights into the trajectory of inflation and its subsequent impact on fuel demand. Brent …

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• 11 June 2024 3:39 am

  Market Drivers; US Session, June 10, 2024

  

  With political unpredictability engulfing Europe in the wake of the June 9 European Parliamentary elections, the US dollar gained momentum this week. The safe-haven dollar gained due to this risk aversion. The USD Index (DXY) surged above 1.05. It reached multi-week highs. Under pressure from the political concerns, the Euro …

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• 11 June 2024 3:27 am

  Gold Climbs Despite Surging Treasury Yields, USD

  

  Despite Monday’s strong US dollar, gold prices managed to recover some of the losses from last week, rising by more than 0.5%. Following Friday’s US Nonfarm Payrolls report, which showed a robust labour market with 272,000 jobs gained beyond estimates, gold is rising. On the other hand, future US inflation …

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• 11 June 2024 2:37 am

  Early French elections shake investors’ confidence in the economy

  

  Financial markets were taken aback by French President Emmanuel Macron’s announcement to hold early elections, which has raised questions about his pro-business agenda and the country’s already precarious finances.Market reactions:Following the announcement of a sell-off of French assets on Monday, investors are requesting higher returns on French bonds than on …

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• 10 June 2024 11:16 pm

  

  Early French elections shake investors’ confidence in the economyFinancial markets were taken aback by French President Emmanuel Macron’s announcement to hold early elections, which has raised questions about his pro-business agenda and the country’s already precarious finances.Market reactions:Following the announcement of a sell-off of French assets on Monday, investors are …

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• 10 June 2024 10:44 pm

  US stocks trade cautiously ahead CPI report, Fed decision

  

  The Dow was flat on Monday as investors remained cautious ahead of this week’s Federal Reserve meeting and a critical inflation data that could provide insight into the central bank’s policy-easing path. In contrast, the S&P 500 and the Nasdaq saw increases.The Nasdaq traded little higher as gains in firms …

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• 10 June 2024 9:36 pm

  Canadian Dollar flat against US counterpart head of US CPI, Fed decision

  

  On Monday, the Canadian dollar was largely unchanged vs the US dollar. This week, Canada is largely absent from the economic calendar. BoC Macklem’s speech is expected during the midweek trading session. As we begin a new trading week, the Canadian dollar is staying steady vs the US dollar because …

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• 10 June 2024 8:24 pm

  GBP/USD Consolidates After Hitting 7-Day Low

  

  GBP/USD slightly down for the second session in a row. Technical factors indicate losing buyer momentum as RSI approaches the 50-midline. A drop below 1.2700 could push GBP/USD towards key moving averages near 1.2686 and potentially lower.Upside seen above 1.2750, with buyers eyeing 1.2800.The British Pound extended its losses for …

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• 10 June 2024 7:32 pm

  Lagarde: ECB could wait several meetings between rate cuts

  

  ECB President Christine Lagarde stated that interest rates are not on a linear downwards path and that policymakers could wait more than one meeting before cutting them again. Markets now expect little more than one rate cut over the four remaining policy meetings this year and between 3 and 4 …

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• 10 June 2024 3:00 pm

  U.S. Stock Futures Dip Ahead of Fed Meeting and Key Inflation Data

  

  U.S. stock index futures retreated on Monday, June 10th, relinquishing some of the previous week’s strong gains as investors braced for the upcoming Federal Reserve meeting and the release of crucial inflation data. Market Overview Dow Jones Futures: Down 0.2%S&P 500 Futures: Down 2.1%Nasdaq 100 Futures: Down 0.1% The main …

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• 10 June 2024 1:18 pm

  Oil Prices Inch Up on Summer Demand Hopes, Yet Dollar Strength Limits Gains

  

  Oil prices saw a slight increase on Monday, June 10th, driven by optimism surrounding a potential surge in fuel demand during the upcoming summer months. However, the gains were tempered by a strengthening dollar, fueled by diminishing expectations of immediate U.S. interest rate cuts. Analyst Projections and Market Sentiment Goldman …

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• 10 June 2024 12:10 pm

  European Stocks Tumble as Election Results and Fed Meeting Loom

  

  European stock markets took a significant hit on Monday, June 10th, as investors reacted to the results of the European Parliament elections, which saw gains for nationalist and euro-skeptic parties. This surge in the right is expected to lead to a more polarized European Parliament, potentially hindering the passage of …

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• 10 June 2024 11:15 am

  Gold Prices Stagnate Amidst Fed Rate Hike Fears, Dollar Strengthens

  

  Gold prices remained largely flat in Asian trading on Monday, reeling from last week’s losses as concerns about high U.S. interest rates intensified ahead of a Federal Reserve meeting and crucial inflation data this week. The precious metal retreated from near-record highs following Friday’s stronger-than-expected nonfarm payrolls report, prompting traders …

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