Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 22 July 2024 7:53 pm

  Eurozone debt continues to climb

  

  In the first three months of 2024, the Eurozone’s debt increased as France battled to stabilize its finances following weeks of political unrest. The EU statistics agency, Eurostat, reported that the 20 nations in the currency area had debt of 88.7% of GDP, up from 88.2% in the prior quarter.The …

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• 22 July 2024 11:12 am

  Morgan Stanley Predicts Oil Market Tightness to Ease in 2025, Brent Prices to Decline

  

  According to a recent note from Morgan Stanley, the current tightness in the crude oil market is expected to ease next year, leading to a potential surplus and a decline in Brent prices to the mid-to-high $70s range. While the market is expected to remain tight throughout most of the …

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• 22 July 2024 10:31 am

  Gold Prices Edge Higher Amid Political Uncertainty in U.S., While Copper Declines

  

  Gold prices saw a slight uptick in Asian trading on Monday, driven by safe-haven demand as investors reacted to U.S. President Joe Biden’s surprise decision to drop out of the 2024 reelection race and endorse Vice President Kamala Harris. Despite a recent decline from record highs last week due to …

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• 22 July 2024 9:42 am

  Asian Stocks Slump Amid Uncertainty Over U.S. Political Landscape and Tech Sell-Off

  

  Asian markets experienced a downturn on Monday, as investors grappled with the potential ramifications of U.S. President Joe Biden’s surprise decision to withdraw from the 2024 reelection race and endorse Vice President Kamala Harris as his successor. The unexpected move fueled uncertainty about the future direction of U.S. policies towards …

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• 22 July 2024 7:14 am

  Financial Markets Recap: Technology and political developments take central stage

  

  This week, financial markets navigated a mix of influences, with technology and political developments grabbing the spotlight. While the US dollar strengthened, and gold prices surged, stock markets witnessed some profit-taking. The overall sentiment leaned towards safe-haven assets like gold due to economic uncertainties and geopolitical tensions. Microsoft shares were …

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• 20 July 2024 2:47 am

  Behind the Curtains: Likely Bidenexit Matters for US Economy

  

  About 29 Democrats in the House are calling for US President Joe Biden to step down. However, some top Democrats privately believe that the rising pressure of party congressional leaders and close friends will persuade Biden to quit the presidential race as soon as this weekend. The 81-year-old president remains …

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• 20 July 2024 12:25 am

  US dollar strengthens, celebrates a winning week

  

  Long-term gains are seen in the US Dollar DXY, which approaches 104.365 as sellers retreat. The USD may still be burdened by worries about the US labor situation. By the conclusion of the week, the US was benefiting from risk aversion.Notwithstanding ongoing concerns over the job market, the US dollar …

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• 19 July 2024 11:11 pm

  Stock Market Struggles Ahead of Looming Huge Earnings

  

  The tech industry is experiencing a severe decline, which has been negatively impacting the stock market. In the upcoming week, GE Aerospace, Tesla, ServiceNow, and Alphabet, the parent company of Google, will all be releasing their earnings results. Amid issues with chips, the CrowdStrike IT failure, and other issues, the …

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• 19 July 2024 10:11 pm

  USD/JPY Consolidates Ahead of the weekend

  

  The USD/JPY pair rises up 0.06%, but fails to break above 158.00. Key supports at 157.00, 156.00, and bottom of the Kumo at 155.50/60; further support at 155.37 and 155.00. Potential resistance at 157.50 and July 16 peak at 158.85 if buyers push the pair higher.The USD/JPY edged up during …

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• 19 July 2024 10:04 pm

  Why Has Gold Dropped Below $2,400 after All-Time Peak?

  

  Gold hits a peak of $2,447 before falling 1.90% to $2,398. Fears over Trump’s chances of winning the election and China’s economic expansion strengthen the US dollar. US Treasury yields rise, with the 10-year note at 4.233%; the US Dollar Index rises to 104.34, up 0.18%. The statistics released this …

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• 19 July 2024 3:49 pm

  Global Computer Systems Meltdown: CrowdStrike Software Update Triggers Widespread Chaos

  

  A seemingly routine software update from cybersecurity firm CrowdStrike unleashed a wave of chaos on Friday, causing widespread disruptions to critical computer systems worldwide. The malfunctioning update impacted a multitude of industries and services, from grounding flights and silencing broadcasters to disrupting banking and healthcare operations. The culprit behind the …

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• 19 July 2024 1:38 pm

  Dollar Rebounds Amidst Uncertainty, Sterling Slips on Weak Retail Sales Data

  

  The U.S. dollar gained slightly on Friday, setting the stage for a positive week, while the British pound retreated following the release of disappointing retail sales figures. Dollar Finds Support: The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.2% to 104.065, recovering from …

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• 19 July 2024 12:24 pm

  July’s FOMC Meeting: Holding Steady or Rate Cut?

  

  The July meeting is likely to see continued stable rates. However, a future rate cut depends on inflation and the overall health of the economy. The Fed will be monitoring data closely and adjusting policy as needed. The Federal Reserve’s next policy meeting is coming up on July 30-31, 2024. …

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