Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2024

• 7 June 2024 2:32 am

  Will NFP Report Reveal Continued Cooling Labour Market?

  

  The eagerly awaited Employment Change Report for May, scheduled for release on Friday, June 7th, 2024 at 8:30 AM ET, is poised to provide crucial insights into the status of the US labour market. As economic indicators hint at a potential slowdown, investors are closely monitoring the data for signals …

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• 7 June 2024 12:21 am

  Oil’s Recovery Continues Amid Rate Cut Hopes, Supply Challenges

  

  WTI crude oil has rebounded to $75.75 per barrel in thin market trading. Energy traders are cautiously optimistic, focusing on expectations of a Federal Reserve rate cut in Q3 while grappling with oversupply risks.The American Petroleum Institute (API) and the Energy Information Administration (EIA) have reported a significant increase in …

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• 6 June 2024 10:10 pm

  Canadian dollar trades flat ahead of awaited NFP

  

  As markets brace for Friday’s crucial labour data from both the US and Canada, the Canadian dollar fell into a holding pattern on Thursday. Although there is still a chance of a push-out to November, investors are still inclined towards betting on a September rate cut from the US Fed. …

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• 6 June 2024 9:42 pm

  Treasury Yields Surge Ahead of NFP Data

  

  US Treasury bond yields have shifted upward since the start of Thursday’s trading session on Wall Street. This change comes after preliminary employment indicators sparked speculation that the Federal Reserve may maintain interest rates at elevated levels for some time.The US Challenger Job Cuts Index recorded a decline to 63,816 …

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• 6 June 2024 8:54 pm

  Gold surges after ECB’s interest rate cut

  

  Gold trades 0.74% higher as bets the Fed will cut rates in September remain elevated despite strong US service sector data. Gold breaks out of its range higher, muddying the short-term technical picture. Gold (XAU/USD) is trading up by about 0.2% in the $2,360s on Thursday just after the European …

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• 6 June 2024 5:23 pm

  ECB Cuts Rates, but Future Path Clouded by Inflation Uncertainty

  

  The European Central Bank (ECB) announced a rate cut for the first time in five years, lowering the deposit rate by 25 basis points to 3.75%. However, the central bank refrained from signaling its next move due to heightened uncertainty surrounding the inflation outlook after a significant slowdown in the …

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• 6 June 2024 3:32 pm

  U.S. Futures Flat as Investors Await Labor Market Data, Nvidia Boosts Tech Sentiment

  

  U.S. stock index futures were relatively unchanged on Thursday, as investors awaited fresh data to assess the strength of the U.S. labor market. Meanwhile, the Nasdaq futures saw a slight uptick, buoyed by gains in AI-focused Nvidia, which boosted optimism in the tech sector. The previous session witnessed a tech …

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• 6 June 2024 12:26 pm

  Oil Prices Edge Higher on Rate Cut Expectations, Despite Supply and Inventory Concerns

  

  Oil prices rebounded for the second consecutive day on Thursday, driven by growing optimism that the Federal Reserve may cut interest rates as early as September. However, the potential for higher supply from OPEC+ and rising U.S. inventories kept the price gains in check. Brent crude futures rose 0.42% to …

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• 6 June 2024 11:42 am

  German Industrial Orders Decline Unexpectedly in April, But Signs of Recovery Emerge

  

  German industrial orders unexpectedly contracted for the fourth consecutive month in April, primarily due to a significant decrease in large-scale orders compared to the previous month. This decline, however, was partially offset by a rise in orders excluding large-scale projects, suggesting potential signs of recovery in the sector. According to …

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• 6 June 2024 10:42 am

  Euro Edges Up Ahead of ECB Rate Decision, Dollar Dips on Easing Labor Market

  

  The euro gained slightly on Thursday as traders awaited the European Central Bank’s (ECB) policy decision, where a rate cut is widely anticipated. Meanwhile, the dollar weakened due to renewed expectations of Federal Reserve easing later this year. The Canadian dollar also saw a modest increase, recovering from earlier losses, …

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• 6 June 2024 9:52 am

  Asian Chipmakers Ride the AI Wave, Propelled by Nvidia’s Soaring Valuation

  

  Asian chipmaking stocks experienced a significant boost on Thursday, mirroring the overnight rally of market darling Nvidia. This surge was fueled by renewed optimism surrounding artificial intelligence (AI) and its potential to drive demand for semiconductors. Nvidia, the leading manufacturer of advanced AI chips, achieved a historic milestone, surpassing a …

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• 6 June 2024 9:45 am

  Predicting the Next Big Disruption: Emerging Technologies and Trade

  

  Contemporary technologies are undoubtedly reshaping the financial assets and trading industry, and markets are undergoing major transformations due to emerging technologies. This report explores some of the key areas of influence of the most prominent technologies in today’s world.Blockchain and supply chain transparency: Blockchain technology ensures secure and transparent transactions …

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• 6 June 2024 4:35 am

  Market Drivers: US Session, June 5

  

  The US dollar continued its weekly recovery, gaining ground even as US yields displayed a mixed tone across the yield curve. Investors are now factoring in the possibility of two interest rate cuts by the Federal Reserve later this year. Meanwhile, market participants are fully anticipating a 25 basis point …

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