Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 8 July 2024 1:21 am

  Markets’ Weekly Recap: Bets continue on a US rate cut sooner than expected

  

  The financial markets witnessed many developments during the trading week ending on Friday, July 5, 2024, in terms of major currencies, American and international stocks, commodities, and other most prominent traded assets, and in this weekly report we attempt to monitor the most important developments.Markets were mixed this week, with …

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• 6 July 2024 1:36 am

  Explainer: Why Are Wall Street Discussions Recalling Sahm Rule?

  

  Wall Street is buzzing about the Sahm Rule after the latest US Bureau of Labour Statistics data release showed an unexpected rise in the unemployment rate. While the headline number of 206,000 new jobs created in June exceeded the 190,000 expectations, economists are concerned about several underlying factors.What is the …

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• 5 July 2024 10:52 pm

  Will AI Push S&P 500 higher before peaking next year?

  

  AI enthusiasm will propel the S&P 500 to 7,000 by next year, although AI itself is largely seen as a market bubble that will bubble until 2025. Investors are overestimating the technology’s macroeconomic benefits. The S&P 500 has already broken more than thirty new highs this year, and the rush …

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• 5 July 2024 9:04 pm

  Fed Under Pressure to Cut Rates in September as Job Market Cools

  

  June’s jobs report sent a mixed message, with job gains have remained better than expected in a strong status but other indicators are suggesting a slowdown. This has increased pressure on the Federal Reserve to cut interest rates in September.Job Growth Flatters, Not Deceives: While headline numbers showed solid hiring, …

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• 5 July 2024 8:00 pm

  Gold rallies after US labour data

  

  Spot gold is up 1.16%, trading at $238460, and gold futures are up 1.20%, trading at $2394.45 at the time of writing. Gold has continued its positive run as investors become increasingly optimistic about the Fed’s intention to lower interest rates sooner than previously thought. The US Nonfarm Payrolls report …

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• 5 July 2024 7:37 pm

  Semi-Annual Policy Report: Fed needs greater confidence before moving to rate cuts

  

  In its Semi-Annual Monetary Policy Report published on Friday, the Federal Reserve (Fed) noted that they have seen modest further progress on inflation this year but added that they still need greater confidence before moving to rate cuts. The US Dollar Index showed no immediate reaction to this publication and …

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• 5 July 2024 4:07 pm

  US Stock Futures Flat Ahead of Crucial Nonfarm Payrolls Report

  

  U.S. stock index futures remained mostly unchanged on Friday as markets reopened after the July 4 holiday. Investors eagerly awaited the release of the Labor Department’s non-farm payrolls report, which is expected to provide further insight into the labor market’s condition. A softer reading of the report, indicating a slowdown …

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• 5 July 2024 2:43 pm

  Bitcoin Plummets to 4-Month Low Amid Mt Gox, Political Turmoil

  

  Bitcoin’s price took a nosedive on Friday, sinking to a four-month low as concerns over the impending distribution of stolen Bitcoin by the defunct crypto exchange Mt Gox intensified. The situation was further compounded by reports of German police moving $75 million of confiscated crypto onto exchanges, sparking fears of …

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• 5 July 2024 1:28 pm

  Bitcoin Plummets to 4-Month Low Amid Mt Gox, Political Turmoil

  

  Bitcoin’s price took a nosedive on Friday, sinking to a four-month low as concerns over the impending distribution of stolen Bitcoin by the defunct crypto exchange Mt Gox intensified. The situation was further compounded by reports of German police moving $75 million of confiscated crypto onto exchanges, sparking fears of …

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• 5 July 2024 12:23 pm

  Gold Prices Continue Climb on Rate Cut Expectations, Awaiting Payrolls Data

  

  Gold prices continued their upward trajectory in Asian trading on Friday, building on recent gains as the dollar weakened ahead of crucial nonfarm payrolls data, which is expected to offer further insights into the future of interest rates. Key Points: Gold Gains Momentum: Spot gold rose 0.3% to $2,363.61 an …

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• 5 July 2024 11:39 am

  Asian Stocks Mixed Amid EU-China Trade Tensions, Samsung Boosts South Korea

  

  Asian stock markets presented a mixed picture on Friday. Chinese stocks declined due to new European Union tariffs on electric vehicle imports, escalating trade war concerns. Conversely, South Korean markets outperformed, driven by gains in Samsung Electronics, which reported a significant surge in Q2 profits, primarily attributed to increased demand …

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• 5 July 2024 3:56 am

  What do markets expect from US NFP data?

  

  The most important US labour data will be released later on Friday, amid expectations of a significant decline in job growth in the United States, with a stability in the unemployment rate, in addition to a limited decline in wage growth.On the first Friday of every month, the employment data …

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• 4 July 2024 10:15 pm

  DXY Declines On US Holiday

  

  The US dollar is facing further scrutiny in the wake of the depressing ADP and ISM Services PMI readings. Markets become more certain that the Fed will lower rates in September. Investor focus is now shifting to the June Nonfarm Payrolls data, which is due on Friday. The DXY Index, …

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