Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The New Zealand dollar fell to its lowest in nearly three weeks on Tuesday, August 17, after the country detected its first case of COVID-19 since February, prompting the government to announce new, short-term public isolation measures. The currency fell significantly in the early hours of trading in Asia, and …
Read More »More Signs Fed Might Begin Tapering in the Fall
Boston Fed President Eric Rosengren was the latest Fed official to support the U.S. Federal Reserve Bank beginning the tapering process of the current massive asset purchases in the next federal open market committee (FOMC) meeting, which takes place in September. He thinks it is appropriate to start in the …
Read More »The US Dollar is Falling Due to Weak Consumer Sentiment
The US dollar settled near a one-week low against the other major currencies on Monday, August 16th, while declining US consumer sentiment hurt bets on an early Federal Reserve monetary policy tightening, while the yuan and Australian dollar fell after disappointing Chinese economic data. There was little change in the …
Read More »The Dollar is Heading For a Second Weekly Gain, Thanks to Expectations That The Fed Will Cut Its Asset Purchases
The US dollar rose on Friday, August 13th, and is on track for a second consecutive week of gains against its major rivals, as investors assess the possibility of the Federal Reserve announcing its plans to cut stimulus in the coming weeks. Data on Thursday showed that US producer prices …
Read More »Oil Prices Ease Despite OPEC’s Positive Expectations
Oil prices closed lower on Thursday after OPEC maintained expectations for demand growth this year. Brent crude futures for October delivery lost 13 cents, or 0.18%, to close at $71.31 per barrel, snapping a two-day rising streak, while the West Texas Intermediate (WTI) futures decreased by 16 cents, or 0.23%, …
Read More »Dollar Drops Off 4-Month High as Inflation Fears Recede
The dollar hit just under a four-month peak against major peers on Thursday as currency traders digest data from the previous day showing that US inflation may be flailing. The dollar index, which measures the performance of the US currency against a basket of six rival currencies, was unchanged at …
Read More »Fed Officials Thinks the Time for Tapering Has Come
More Federal Reserve officials have come forward with calls for monetary policy normalization and scaling back the highly accommodative easing policies of record-low interest rates and massive asset purchases, as the U.S. economy continues to show recovery signs and higher inflation rates. On Wednesday, both Kansas City Fed President Esther …
Read More »U.S. Stocks at Record Highs Following Inflation Data
The New York Stock Exchange (NYSE) managed to close mostly higher on Wednesday, with the Dow and S&P 500 indices finishing at new record highs for the second consecutive session, with Wall Street investors focusing on inflation data in the U.S. Earlier, data by the U.S. Department of Labor showed …
Read More »Oil Rebounds After U.S. Calls for Higher Output and Inventory Drop
Oil prices closed higher on Wednesday, rebounding from early losses that followed news about pressuring OPEC to raise production and the release of the weekly inventory data in the United States. The U.S. is asking the Organization of the Petroleum Exporting Countries (OPEC) to increase production, claiming that the global …
Read More »The Dollar is Moving Towards The Peak of The Year Before The Inflation Data
The US dollar settled at a level slightly less than this year’s peak against the euro and touched a five-week peak against the yen before US inflation data, with a high inflation rate likely to pressure the Federal Reserve to reduce stimulus policies. The dollar received a boost from strong …
Read More »