Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 15 October 2024 8:48 pm

  Investors advised to open Certificate of Deposit Accounts Before Fed’s Meeting

  

  The Federal Reserve, the central bank of the United States, plays a crucial role in managing the country’s money supply and interest rates. When interest rates rise, it becomes more expensive to borrow money, while when they lower, borrowing becomes cheaper. Certificates of Deposit (CDs) are savings accounts that offer …

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• 15 October 2024 7:47 pm

  GBP/USD Surging Following Strong UK Jobs Report

  

  The British Pound (GBP) rallied against the US Dollar (USD) on Tuesday, following a robust UK jobs report that exceeded expectations. The unemployment rate declined, and the economy added over 373,000 jobs, boosting the GBP/USD by 0.18%.The strong UK jobs report has provided a boost to the GBP/USD. While the …

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• 15 October 2024 6:45 pm

  USD/CAD Rallies on Weaker Canadian Inflation Data

  

  USD/CAD Surges as BoC Faces Pressure to Ease RatesThe Canadian Dollar (CAD) weakened against the US Dollar (USD) following the release of cooler-than-expected Canadian inflation data. The Consumer Price Index (CPI) declined to 1.6% annually in September, from 2.0% in August, and below estimates of 1.8%.Lower Inflation Signals Rate CutsThe …

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• 15 October 2024 3:36 pm

  U.S. Stock Futures Hold Steady as Earnings Season Heats Up

  

  U.S. stock index futures remained steady on Tuesday after a strong rally in technology shares pushed major Wall Street indices to record highs in the previous session. As investors prepare for key corporate earnings reports, market sentiment remains cautious but optimistic. By early morning trading, Dow Jones Futures inched up …

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• 15 October 2024 1:58 pm

  Oil Prices Plunge 4% on Weaker Demand Outlook and Easing Middle East Tensions

  

  Oil prices tumbled more than 4% on Tuesday, reaching their lowest levels in nearly two weeks due to a weaker global demand outlook and a report suggesting that Israel may refrain from striking Iranian oil infrastructure. This development eased concerns over potential supply disruptions in the Middle East, which had …

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• 15 October 2024 1:00 pm

  U.S. Dollar Near Two-Month High as Fed Repricing Boosts Optimism

  

  The U.S. dollar held close to its highest levels in over two months on Tuesday, buoyed by expectations that the Federal Reserve will adopt a more cautious approach to rate cuts in the near term. Traders have dialed back predictions of large rate cuts following a series of robust U.S. …

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• 15 October 2024 10:02 am

  Asian Stocks Rise on Wall Street Gains, Chinese Stocks Lag Amid Weak Data

  

  Most Asian stocks climbed on Tuesday, tracking Wall Street’s record highs as the third-quarter earnings season approached. However, Chinese markets lagged due to disappointing economic data and fading optimism over fiscal stimulus measures from Beijing. Regional markets benefited from Wall Street’s strong performance, with the S&P 500 and Dow Jones …

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• 15 October 2024 3:05 am

  Market Drivers; US Session

  

  Dollar Index (DXY) Soars, Dragging Down Major Pairs The US Dollar Index (DXY) continued its upward trajectory, breaching the 103.00 mark, driven by risk-off sentiment in the global market. Key economic indicators and speeches from Federal Reserve officials are scheduled for the day. The Euro (EUR/USD) weakened further, falling below …

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• 15 October 2024 12:33 am

  Dow Jones hits fresh all-time high on earnings

  

  The Dow Jones Industrial Average (DJIA) surged to a new all-time high on Monday, surpassing 43,000 and extending its winning streak to five consecutive weeks. Investors are eagerly anticipating the upcoming earnings season and a busy week of economic data, including key US Retail Sales figures.JPMorgan Chase and Wells Fargo …

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• 14 October 2024 11:24 pm

  Gold prices decline under USD’s pressure

  

  Gold has been declining since the opening of daily trading on Monday, pressured by the rise of the US dollar, which benefited from the decline in expectations of a 50-basis-point Federal Reserve interest rate cut, which led to a decline in fears that the US currency is close to exiting …

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• 14 October 2024 10:01 pm

  Bitcoin Soars Amid China’s Stimulus Uncertainty, US Presidential Speculations

  

  Bitcoin’s price surged to a two-week high following China’s announcement of unclear fiscal stimulus measures. The uncertainty surrounding the scale of China’s economic efforts has sparked speculation that investors may shift their capital from Chinese equities to cryptocurrencies, such as Bitcoin.Adding to the bullish sentiment, rising odds for a pro-crypto …

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• 14 October 2024 8:55 pm

  Stronger US dollar drags EUR/USD lower

  

  The Euro continued its downward spiral, hitting a new ten-week low on Monday. The currency depreciated by 0.25% against the US Dollar, breaching the 200-day Exponential Moving Average (EMA). This decline reflects the overall strengthening of the US Dollar and the weakening Euro.Investors are eagerly awaiting the release of the …

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• 14 October 2024 7:47 pm

  Research Forecasts Oil Prices to Hit $120 Amid Rising Geopolitical Tensions

  

  Citi Research has significantly increased its oil price forecast, predicting Brent crude to reach $120 per barrel by late 2024 and early 2025, primarily driven by escalating tensions in the Middle East.While this bullish outlook has garnered attention, Citi’s baseline forecast remains more conservative, projecting Brent crude prices at $74 …

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