Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The EUR/USD pair rallied to a two-week high of 1.0890, fueled by a robust Eurozone economy and persistent inflationary pressures.Key Factors Driving the Rally:Eurozone GDP Growth: The Eurozone economy expanded at a faster-than-expected pace of 0.9% in the third quarter, with Germany avoiding a technical recession.Hotter-Than-Forecasted Inflation: Eurozone inflation accelerated …
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October, 2024
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31 October 2024 3:06 pm
U.S. Futures Drop Amid Tech Sector Concerns and Rate Jitters
U.S. stock index futures declined on Thursday, influenced by disappointing forecasts from tech giants Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT), which pointed to increased capital spending. By 04:01 ET (08:01 GMT), the Dow futures dropped 181 points (0.4%), the S&P 500 futures fell 41 points (0.7%), and the Nasdaq 100 futures …
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31 October 2024 1:59 pm
European Stock Markets Decline Ahead of Inflation Data Release
European stock markets experienced declines on Thursday as investors assessed a wave of corporate earnings reports in anticipation of the upcoming eurozone inflation data. As of 04:05 ET (08:05 GMT), major indices reflected this trend: Germany’s DAX was down 0.8%, France’s CAC 40 fell by 0.5%, and the U.K.’s FTSE …
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31 October 2024 12:40 pm
Microsoft Forecasts AI Spending Surge Amid Slower Azure Growth
Microsoft has announced expectations for increased spending on artificial intelligence (AI) in the current quarter but cautioned that growth in its Azure cloud business may slow down due to capacity constraints at its data centers. Shares of the Redmond, Washington-based company fell 3.6% in after-market trading, reversing earlier gains despite …
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31 October 2024 11:34 am
Oil Prices Extend Gains Amid U.S. Demand Optimism and Potential OPEC+ Supply Delay
Oil prices advanced on Thursday, driven by positive signs for U.S. fuel demand after an unexpected drop in crude and gasoline inventories, and potential delays in OPEC+ production increases. Brent crude climbed 0.65% to $73.02 per barrel, while West Texas Intermediate (WTI) rose 0.63% to $69.04 per barrel. The Energy …
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31 October 2024 2:40 am
Market Drivers; US Session
The US dollar’s Pause: A Temporary Respite?The US Dollar Index (DXY) has recently shown signs of fatigue, retreating from its recent highs. Despite encouraging economic data, including strong job growth, the US dollar’s relentless ascent appears to be pausing.Key Economic Events to Watch – United StatesPersonal Consumption Expenditure (PCE) Price …
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31 October 2024 1:40 am
US Dollar Pauses Ahead of Key Data
The US Dollar softened on Wednesday as mixed economic data emerged. While the ADP Employment Change report for September exceeded expectations, signaling robust job growth in the private sector, the downward revision to Q3 GDP growth tempered optimism. This conflicting data painted a nuanced picture of the US economy, leaving …
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31 October 2024 1:31 am
Gold’s Meteoric Rise: A Safe-Haven Surge
Gold, the timeless haven asset, has recently surged to unprecedented heights, reaching a record high of $2,790. This meteoric rise is a testament to its enduring appeal as a safe-haven asset during times of economic uncertainty and geopolitical turmoil. Gold’s recent surge is a testament to its enduring appeal …
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30 October 2024 11:17 pm
A Shifting Currency Landscape: Eurozone Strengthens, Dollar Weakens
The foreign exchange market has been witnessing intriguing dynamics, primarily driven by the divergent economic trajectories of the Eurozone and the United States. The Euro has surged against the US Dollar, reflecting a confluence of factors that have propelled the Eurozone economy and dampened the appeal of the dollar.The recent …
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30 October 2024 10:00 pm
US Dollar Weakens Following Key US Data
The US Dollar weakened on Wednesday following the release of mixed economic data. While the ADP Employment Change report for September showed a stronger-than-expected increase in private sector payrolls, revising the previous month’s figure upward to 159,000 jobs, the downward revision to third-quarter GDP growth to 2.8% dampened investor sentiment. …
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30 October 2024 8:36 pm
Is Bitcoin’s Bullish Momentum Continuing Toward Fresh All-time High?
Bitcoin (BTC) has been on a remarkable upward trajectory, flirting with new all-time highs. On Tuesday, it reached a peak of $73,620, fueled by strong institutional demand, particularly from US spot Bitcoin ETFs. These ETFs saw a significant inflow of $827 million, the third-largest single-day inflow since their launch.Analysts believe …
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30 October 2024 8:27 pm
AI-Fueled Growth: Meta’s Q3 Earnings and Future Outlook
Meta Platforms (META) delivered a strong third-quarter performance, surpassing analyst expectations and fueled by the increasing adoption of artificial intelligence (AI). The company’s revenue surged to $40.59 billion, driven by a robust 18.6% increase in advertising revenue. This growth can be attributed to the successful integration of AI into Meta’s …
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30 October 2024 7:15 pm
Canadian Dollar Holds Steady Amidst Mixed US Economic Data
The Canadian Dollar (CAD) maintained a relatively neutral stance against the US Dollar (USD) on Wednesday, as mixed economic data from the United States created a tug-of-war in the currency markets. While the USD initially gained ground due to a stronger-than-expected ADP Employment Change report, it subsequently faced downward pressure …
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