Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 19 August 2024 6:42 am

  Financial Markets Weekly Recap: Market Resilience Amidst Cooling Inflation, Steady Growth

  

  The past week has witnessed a notable rebound in equity markets, with the S&P 500 and the Canadian TSX surging over 6.5% and 5%, respectively, from their August 5 lows. This resurgence appears to be primarily driven by two key factors: a continued moderation in inflation and a resilient economic …

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• 17 August 2024 4:44 am

  Gold’s Meteoric Surge: $2,500 and Counting

  

  Gold prices have shattered yet another record, soaring above the $2,500 an ounce mark. This unprecedented surge has investors and analysts alike wondering if the precious metal is on course for even higher heights. Spot gold is trading at $2,506.84 at the time of writing. Gold futures surpassed 2,537.8 at …

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• 17 August 2024 2:42 am

  Retail Sales Reignite Interest Rate Bets

  

  A fresh batch of data eagerly awaited by markets to clarify the Federal Reserve’s future monetary policy path, eliminating uncertainty around potential interest rate cuts, their magnitude, and related factors, is the US retail sales figures.Fed rate cut expectations entered a new phase where investors, observers, and analysts alike are …

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• 17 August 2024 12:11 am

  Stocks Cap Best Week of the Year After Early Sell-Off Reversal

  

  US markets closed higher on Friday, securing the best week for stocks since November 2023. This comes after a rally on Thursday that erased losses suffered during the early August sell-off.Key Developments:All major indexes gained for the week, with the S&P 500 (^GSPC), Nasdaq Composite (^IXIC), and Dow Jones Industrial …

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• 16 August 2024 10:17 pm

  US Dollar Slides Following Mixed Economic Data

  

  The US Dollar (USD) experienced a decline on Friday, driven by a combination of factors including the release of the University of Michigan’s Consumer Sentiment Index figures and softer-than-expected housing market data. Let’s break down the key points:Consumer Sentiment Index:The University of Michigan’s Consumer Sentiment Index improved to 67.8 for …

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• 16 August 2024 9:27 pm

  Powell Jackson Hole Speech Poised To Set the Stage for September Rate Cut

  

  Federal Reserve Chair Jerome Powell is expected to easily find his way to news headlines next week’s annual economic symposium in Jackson Hole, Wyoming. The event, hosted by the Kansas City Fed, brings together global central bankers and provides a platform for assessing economic trends and monetary policy.Economic Assessment: Powell’s …

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• 16 August 2024 8:24 pm

  USD/JPY retreats after Consumer Sentiment data

  

  On Friday, the USD/JPY fluctuated once again below 149.00 as risk appetite stabilized. To close the trading week, there is selling pressure on the US dollar everywhere. Next week will bring Jackson Hole and national inflation data from Japan.Friday saw a slight decline in USD/JPY, with a morning drop below …

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• 16 August 2024 12:45 pm

  Dollar Hovers Near Two-Week High Against Yen Amid Strong U.S. Economic Data

  

  The U.S. dollar remained close to a two-week high against the Japanese yen on Friday, following its most significant one-day gain against major currencies in four weeks. The rally was driven by robust U.S. economic data, which largely dispelled recession fears. The greenback also received a boost from a surge …

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• 16 August 2024 11:22 am

  Oil Prices Poised for Weekly Gains Despite Friday Dip

  

  Oil prices were on track for a second consecutive week of gains, despite a slight decline on Friday, driven by strong U.S. economic data that fueled optimism about demand in the world’s largest oil-consuming country. Brent crude futures have risen approximately 1.3% this week, while U.S. West Texas Intermediate (WTI) …

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• 16 August 2024 10:01 am

  Gold Prices Slip Slightly Amid Easing Recession Fears and Rate Cut Bets

  

  Gold prices experienced a minor decline in Asian trade on Friday, as reduced recession concerns tempered the demand for safe-haven assets. Despite this, expectations of interest rate cuts kept gold prices close to record highs. Spot gold fell by 0.1% to $2,453.02 an ounce, while gold futures for December delivery …

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• 16 August 2024 5:23 am

  Market Drivers; US Session, August 15

  

  The US Dollar experienced a volatile trading session, closing mixed against major currencies. Positive US economic data, including strong employment and retail sales figures, alleviated recession fears and boosted investor sentiment. While other economic indicators were less favorable, they were insufficient to reignite market concerns or impact expectations for a …

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• 16 August 2024 3:05 am

  China’s Economic Malaise: A Global Ripple Effect

  

  China’s economic engine, which has long been the world’s growth driver, is losing steam. Recent data highlights a deepening slowdown with far-reaching global consequences. The Chinese economy is under increasing strain, with its weakest growth in five quarters. Efforts to bolster consumer spending have yielded disappointing results, and China’s GDP …

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• 16 August 2024 1:26 am

  XAU/USD Steadies Above $2,450 Following US Retail Sales Data

  

  During Friday’s early Asian session, the price of gold remains unchanged at $2,455. US initial jobless claims decreased by 7K to 227K last week; retail sales in July exceeded forecasts, increasing 1.0% MoM. The downward potential of gold may be limited by the growing geopolitical threats in the Middle East. …

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