Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 23 May 2024 12:24 am

  Nvidia’s Profit Soars, Underscoring Dominance in AI Chips

  

  Nvidia reported Q1 earnings, which were impressive, with net income rising more than sevenfold compared to the previous year. The company’s revenue also experienced remarkable growth, more than tripling from $7.19 billion to $26.04 billion during the same period. Analysts had high expectations, and NVIDIA exceeded them. Earnings per share …

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• 22 May 2024 11:38 pm

  GBP/USD slides after FOMC minutes, surprise UK election news

  

  The GBP/USD pair is easing back from Wednesday’s early gains after FOMC showing. UK PM Sunak calls for general election July 4 in a bid to hold power. A rate cut in June 2024 look less likely, the GBP/USD pair is pulling back from Wednesday’s early gains after the FOMC …

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• 22 May 2024 10:32 pm

  FOMC minutes support a probable rate cut in September

  

  Despite expressing disappointment over recent inflation readings, Federal Reserve officials at their last policy meeting indicated they still believed that price pressures would gradually ease. This sentiment was reflected in the minutes of the Fed’s April 30-May 1 session.Although the current policy response would “involve maintaining” the central bank’s benchmark …

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• 22 May 2024 9:46 pm

  US stocks continue quiet trading ahead of FOMC minutes

  

  US stock indexes are drifting around their records, with the S&P 500 remaining virtually unchanged. Target tumbled 7.4% after reporting profit for the latest quarter that fell short of analysts’ expectations, and forecasted ranges for upcoming profit fell below analysts’ estimates. Nvidia’s headline profit report will come after trading closes …

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• 22 May 2024 9:17 pm

  US Dollar Slightly Higher Ahead of May’s FOMC Minutes

  

  The US Dollar Index (DXY) is currently trading near 104.80, showing minor gains during Wednesday’s American session. Despite soft inflation data reported last week, the Greenback remains resilient, thanks to cautious statements from Federal Reserve (Fed) officials.The upcoming release of the FOMC Minutes is crucial for investors seeking insights into …

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• 22 May 2024 7:04 pm

  Gold retreats below $2,400 ahead of FOMC minutes

  

  The price of gold declines for the second day in a row due to a dismal interest-rate outlook and higher-than-expected expectations for interest rates. Fed’s Policymakers are hesitant to cut interest rates until they have made greater headway in combating inflation. Their opinions are shared by people all across the …

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• 22 May 2024 2:34 pm

  British Inflation Data Eases Pressure on Rate Cut Expectations

  

  Inflation in Britain saw a less-than-expected decline in April, with a key core measure showing resilience, prompting investors to reconsider their bets on a rate cut next month. This development could potentially bolster embattled Prime Minister Rishi Sunak ahead of anticipated elections later this year. Consumer prices rose by an …

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• 22 May 2024 1:05 pm

  U.S. Dollar Steadies Ahead of Fed Minutes; Sterling Gains on Mild Inflation Data

  

  The U.S. dollar traded steadily on Wednesday as markets awaited the release of minutes from the last Federal Reserve meeting, while sterling advanced after April’s inflation figures came in lower than anticipated. At 04:55 ET (08:55 GMT), the Dollar Index, which measures the greenback against a basket of six major …

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• 22 May 2024 11:30 am

  Gold Prices Slip Amid Fed Rate Concerns and Stronger Dollar

  

  Gold prices edged lower in Asian trade on Wednesday, continuing to retreat from record highs as concerns over elevated U.S. interest rates grew ahead of crucial signals from the Federal Reserve. Industrial Metals Also Under Pressure The downward trend extended to industrial metals, with copper prices pulling back further from …

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• 22 May 2024 4:23 am

  Market Drivers; US Session, May 21

  

  Federal Reserve Governor Christopher Waller has expressed concerns about the need for further rate hikes due to the hotter-than-expected inflation data. He believes that more months of good inflation data are needed before he can support an easing in policy. Federal Reserve Bank of Boston President Susan Collins and Federal …

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• 22 May 2024 4:00 am

  What are BoE’s expectations for UK inflation?

  

  Since fighting inflation is one of the two main components of the Bank of England’s mandate, and as all major central banks do assess how well they have performed the fundamental mandate assigned to them, markets are waiting for new evidence that could help identify the characteristics of the future …

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• 22 May 2024 12:45 am

  S&P 500 Hits Fresh Highs Ahead of FOMC Minutes, Nvidia Earnings

  

  The stock market is closely and carefully watched by analysts as well as investors as Nvidia gets ready to announce its quarterly financial results. Tuesday’s closing high of 5,321.41 was achieved by the S&P 500 index thanks to robust corporate earnings in the first quarter of 2024. Nonetheless, a few …

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• 21 May 2024 10:47 pm

  Canadian dollar struggles amid inflation data, rate cut bets

  

  The Canadian dollar has been under scrutiny recently as investors closely monitor economic data and central bank statements. Here’s a breakdown of the recent developments and their impact on the CAD as the USD/CAD pair is 0.20% up trading at 1.3651 at the time of writing.Inflation Data, Rate Cut Bets …

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