Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 21 October 2024 11:20 pm

  Market Drivers; US Session

  

  Dollar Strengthens Amid Rising Yields, Renewed “Trump Trade”The US Dollar Index (DXY) continued its upward trajectory on Tuesday, October 22, approaching three-month highs as investors responded to higher interest rates and a resurgence of the “Trump trade.” Key economic events and speeches from Federal Reserve officials will shape the market’s …

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• 21 October 2024 10:44 pm

  Dow Jones Sheds 330 Points as Bullish Momentum Pauses

  

  Dow Jones Industrial Average (DJIA) experienced a setback on Monday, declining by 330 points (0.8%) as equity markets retreated from recent record highs.The decline was primarily attributed to a pause in bullish momentum, with the Dow Jones bearing the brunt of the sell-off. Investors grappled with conflicting factors: the anticipation …

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• 21 October 2024 9:01 pm

  Dollar Holds Steady Amid Geopolitical Tensions, Fed Comments

  

  The US Dollar maintained its strength on Monday, buoyed by escalating tensions in the Middle East and supportive remarks from Federal Reserve officials. However, profit-taking activity tempered the Greenback’s gains, as investors digested positive economic news from China and its government’s stimulus measures.Geopolitical Tensions: The ongoing tensions in the Middle …

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• 21 October 2024 8:25 pm

  EUR/USD could resume declining as ECB considers further cut rates

  

  The EUR/USD exchange rate is likely to continue falling as the European Central Bank is expected to lower interest rates again. The value of the EUR/USD pair is currently at 1.0800, but its future direction is uncertain due to expectations that the ECB will adopt a more lenient monetary policy. …

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• 21 October 2024 7:15 pm

  Fed’s Logan Hints at Gradual Rate Cuts

  

  Federal Reserve Bank of Dallas President Lorie Logan suggested on Monday that the Fed may gradually lower interest rates in the future, provided the economy continues to perform as expected. She also indicated that the Fed plans to continue reducing its balance sheet.Logan highlighted the following key points:Economic Stability: The …

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• 21 October 2024 3:33 pm

  China’s Central Bank Launches $7 Billion Swap to Support Stock Market

  

  China’s central bank, the People’s Bank of China (PBOC), initiated its first swap operations on Monday under a newly established facility aimed at stabilizing the stock market. The PBOC exchanged assets worth 50 billion yuan ($7 billion) with brokerages, fund companies, and insurers as part of the move. In the …

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• 21 October 2024 3:09 pm

  Oil Prices Rebound as Concerns Over China and Middle East Ease

  

  Oil prices rose on Monday, recovering some of last week’s steep losses driven by concerns over China’s economic slowdown and easing tensions in the Middle East. Brent crude futures increased by $1.16, or 1.6%, to $74.22 per barrel at 1036 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.32, …

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• 21 October 2024 2:03 pm

  European Shares Struggle Ahead of Key Corporate Earnings, Energy Stocks Lead Gains

  

  European shares wavered on Monday after two consecutive weeks of gains, as investors awaited key corporate earnings reports, with stabilizing oil prices supporting the energy sector. The pan-European STOXX 600 index remained flat at 0845 GMT, fluctuating between minor gains and losses. Last week, the STOXX 600 gained momentum following …

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• 21 October 2024 12:57 pm

  U.S. Dollar Gains Momentum Amid Rising Trump Election Prospects

  

  The U.S. dollar strengthened on Monday, building on its recent gains as the U.S. presidential election approaches, with growing expectations that former President Donald Trump may secure a victory in the 2024 race. At 04:30 ET (08:30 GMT), the Dollar Index, which tracks the greenback against six major currencies, rose …

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• 21 October 2024 11:33 am

  Oil Prices Edge Higher After Last Week’s Slump Amid China Demand Concerns and Middle East Tensions

  

  Oil prices rose slightly in Asian trading on Monday, following a sharp decline last week driven by worries over slowing demand in China, the world’s largest oil importer, and easing concerns about supply disruptions in the Middle East. Brent crude futures gained 0.37%, or 27 cents, to trade at $73.33 …

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• 21 October 2024 10:38 am

  Bitcoin Surges to Three-Month High Amid Speculation of Trump 2024 Victory

  

  Bitcoin prices climbed on Monday, briefly reaching a three-month high as speculation grew over Donald Trump’s chances of winning the 2024 U.S. presidential election. The world’s largest cryptocurrency has seen a sharp rally over the past week, spurred by polls and prediction markets indicating a potential Trump victory, though analysts …

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• 21 October 2024 9:46 am

  Gold Surges to Record High Amid U.S. Election Uncertainty and Middle East Tensions

  

  Gold prices soared to a new record in Asian trading on Monday, driven by increased safe-haven demand as geopolitical tensions in the Middle East intensified and uncertainty loomed over the upcoming U.S. presidential election. Spot gold climbed 0.4% to $2,732.86 per ounce, while December gold futures rose 0.6%, reaching $2,747.70 …

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• 21 October 2024 12:54 am

  Weekly Recap: Market Rollercoaster Starring Geopolitics, Tech Tumble, and Alpha Picks Shine

  

  This week, global stock markets continued their upward trajectory, driven primarily by robust performance in tech stocks as well as positive sentiment surrounding China’s economic stimulus measures. Major US indices, including the S&P 500 and the Dow Jones Industrial Average, reached fresh all-time highs, extending their winning streaks to six …

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