Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 29 May 2024 6:42 pm

  Sterling retreats to fresh weekly lows as bears eye 1.2700

  

  The GBP/USD pair tumbles to new three-day low as ‘evening star’ chart pattern emerges. Buyers’ momentum begins to fade as RSI aims toward the 50-midline. If the pair drops below 1.2700, look for further losses; otherwise, bulls can challenge 1.2800.The British Pound fell to a new weekly low against the …

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• 29 May 2024 2:45 pm

  U.S. Stock Futures Dip as Rising Bond Yields Pressure Megacaps

  

  U.S. stock index futures retreated on Wednesday, with megacap stocks feeling the heat from rising Treasury yields. This surge in yields fueled concerns about the timing of the Federal Reserve’s potential interest rate cuts. Tech giants like Apple, Meta, and Nvidia experienced declines in premarket trading, as the yield on …

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• 29 May 2024 12:49 pm

  Dollar Rises on Rate Cut Doubts, Surging Bond Yields

  

  The U.S. dollar strengthened in early European trading on Wednesday, driven by growing expectations that the Federal Reserve will postpone interest rate cuts until later this year. This upward movement was also supported by rising U.S. Treasury yields, fueled by a lackluster debt auction. At 04:10 ET (08:10 GMT), the …

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• 29 May 2024 12:22 pm

  European Stocks Dip as Bond Yields Rise, Inflation Worries Weigh

  

  European stock markets experienced a decline on Wednesday, driven by escalating bond yields that unnerved investors ahead of crucial inflation data releases. Fears of prolonged monetary tightening added to the market’s apprehension. Early in the trading session, the DAX index in Germany slipped 0.3%, while the CAC 40 in France …

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• 29 May 2024 11:40 am

  Oil Prices Climb on Anticipation of OPEC+ Production Cuts and Peak Summer Demand

  

  Oil prices experienced a boost in Asian trading on Wednesday, fueled by expectations that major producers will maintain existing output cuts at their upcoming meeting and the anticipated rise in fuel consumption during the summer season. Brent crude futures for July delivery saw a modest increase of 18 cents (0.2%), …

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• 29 May 2024 7:07 am

  Market Drivers; US Session, May 29, 2024

  

  The US dollar managed to regain some late traction and trimmed most of its daily losses amidst a decent bounce in US yields and diminishing expectations of a rate cut by the Fed in September.Key Developments:The USD Index (DXY) rebounded from multi-day lows near 104.30 on the back of te …

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• 29 May 2024 6:05 am

  3 factors behind soaring oil prices

  

  Crude oil prices saw a noticeable surge, with the price of West Texas Intermediate crude exceeding the $80 per barrel barrier, Brent oil rose to more than $84.19 per barrel, while energy markets are closely watching recent developments in particular OPEC and its allies’ actions within the framework of OPEC …

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• 29 May 2024 1:11 am

  Gold rises sharply despite Fed’s hawkishness

  

  Despite pressure from high US Treasury yields, gold gains more than 0.30%. Governor Michelle Bowman and other Fed officials’ pessimistic comments restrain Gold’s ascent. The release of US core PCE inflation data is of interest to traders of XAU/USD. Late in the North American session, the price of gold saw …

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• 28 May 2024 11:52 pm

  IMF Raises China’s Economic Growth Target to 5% in 2024

  

  China’s 2024 economic growth target was raised by the International Monetary Fund from 4.6% to 5%. This upward revision is a result of China’s efforts to support its real estate sector and follows a robust first quarter performance1. Key Quotes, Insights Robust Q1: China’s proactive efforts to boost its real …

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• 28 May 2024 9:25 pm

  Canadian dollar weakened amid light data releases

  

  US markets return after a long weekend, with Fedspeak dominating headlines. The Canadian Dollar is softer on Tuesday, reflecting some gains from the start of the trading week. The Canadian Dollar is softer as investors await the US Gross Domestic Product (GDP) and Personal Consumption Expenditure (PCE) inflation due on …

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• 28 May 2024 8:48 pm

  US dollar finds no significant catalysts ahead of key GDP, PCE data

  

  The strong Consumer Confidence and Housing sector data was not enough to trigger big movements in the US dollar. Next highlight will be Wednesday’s Fed’s Beige Book report where markets will get a clearer outlook on the US economy’s health.PCE and GDP revisions are the week’s highlights. The US Dollar …

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• 28 May 2024 7:14 pm

  Fed’s Kashkari does not rule out interest rate hikes

  

  Speaking before the Barclays-CEPR International Monetary Policy Forum, Federal Reserve Bank of Minneapolis President Neel Kashkari said the US central bank’s policy stance is restrictive, but policymakers haven’t entirely ruled out additional interest-rate increases.“I don’t think anybody has totally taken rate increases off the table,” Kashkari said Tuesday at an …

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• 28 May 2024 3:07 pm

  U.S. Stock Market Embraces Faster Settlement, But Initial Challenges Loom

  

  The U.S. stock market is transitioning to a shorter settlement cycle on Tuesday, a move regulators hope will reduce risk and enhance efficiency in the world’s largest financial market. However, this shift is expected to temporarily increase transaction failures for investors as they adapt to the accelerated timeline. Under the …

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