Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 26 August 2021 12:22 am

  Oil Scores Third Consecutive Rise for First Time in August After U.S. Inventory Draw

  

  Oil prices closed higher on Wednesday, maintaining a rising trend for the third consecutive session, supported by the drop in American crude inventories last week, despite it being below market expectations. The United States Energy Information Administration (EIA) reported that crude inventories decreased by three million barrels in the week …

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• 25 August 2021 11:55 pm

  Gold Closes Lower with Anticipation for Jackson Hole Fed Remarks

  

  Gold prices declined on Wednesday for the first time in four sessions, despite fluctuations by the U.S. Dollar (USD) that was in the positive territory during the European session and for most of the American session. The yellow metal’s drop that snapped a three-session rising streak comes amid expectations for …

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• 25 August 2021 9:37 pm

  Europe’s Stocks Close Little Changed Following German Data

  

  European stocks finished Wednesday marginally higher, with mixed factors impacting the markets, as data showed that the manufacturing sector in Germany remained impacted by supply chain disruptions and bottlenecks. Germany’s IFO Business Climate Index remained positive but declined to 99.4 in August, while the gauge of Current Economic Assessment increased …

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• 25 August 2021 8:01 pm

  U.S. Oil Inventories Down 3M Barrels in Week: EIA

  

  Crude oil inventories in the United States declined by three million barrels last week, according to official figures released on Wednesday by the U.S. Energy Information Administration (EIA). The decline, which exceeded market expectations, brought oil supplies to 432.6 million barrels, nearly 6% below the five-year average. In the week …

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• 25 August 2021 5:37 pm

  US Capital Goods Orders Stable in July

  

  New orders for key US-made capital goods held steady in July, but accelerating shipments suggest that business investment in equipment could offset an expected slowdown in consumer spending and keep the economy on a solid growth path in the third quarter. The US Commerce Department said on Wednesday that the …

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• 25 August 2021 3:54 pm

  Gold Falls Due to The Rise of The Dollar And The Appetite For Risk

  

  Gold prices fell on Wednesday, August 25, pressured by the dollar’s rise and risk appetite, while investors awaited a speech by Federal Reserve Chairman Jerome Powell this week for indications on the US Federal Reserve’s plans to reduce stimulus. And gold fell in spot transactions by about 0.5% to $ …

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• 25 August 2021 3:06 pm

  European Shares Rise Ahead of Data

  

  European stocks rose Wednesday, August 25th, and travel stocks rose for the fourth day in a row, while markets globally moved within a narrow range ahead of a policy update from the US Federal Reserve at the end of the week. The STOXX 600 index of European shares rose 0.1% …

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• 25 August 2021 1:53 pm

  German Business Confidence Drops Due to Increase in COVID-19 Cases

  

  German business confidence declined in August for the second month in a row, according to a survey published on Wednesday, August 25, as business expectations became more pessimistic about the coming months in Europe’s largest economy due to an increase in COVID-19 infections and supply bottlenecks. The Ifo institute said …

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• 25 August 2021 1:13 pm

  Dollar Near a Week Low as Delta Worries Ease Ahead of Jackson Hole

  The dollar hit its lowest level in nearly a week on Wednesday, August 25th against major counterparts, as concerns eased that the highly contagious delta strain of the Coronavirus may derail the global economic recovery. Risk appetite has improved in global markets since the US Food and Drug Administration granted …

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• 25 August 2021 12:30 pm

  Oil Falls After Two Days of Gains Due to Lack of Supplies

  

  Oil prices rebounded on Wednesday, August 25, to catch a breath after a strong rally this week due to the loss of a quarter of Mexico’s production and evidence that China, the world’s largest importer of crude, has contained the latest outbreak of the Coronavirus. Brent crude futures fell 25 …

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• 25 August 2021 4:55 am

  Wall Street: S&P 500 and Nasdaq Set New Record Highs

  

  The New York Stock Exchange (NYSE) continued with a positive performance on Tuesday, with the S&P 500 and Nasdaq indices hitting new record highs. Wall Street is anticipating the upcoming speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole event. The Federal Reserve’s most recent meeting minutes showed …

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• 25 August 2021 4:02 am

  U.S. Oil Inventories Down 1.6 M Barrels in Week

  

  Crude oil inventories in the United States declined by 1.6 million barrels last week, according to estimates by the American Petroleum Institute (API). Gasoline stockpiles decreased by 985,000 barrels, and distillate inventories fell by 245,000 barrels. The official weekly report by the Energy Information Administration (EIA) is due on Wednesday.

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• 25 August 2021 3:05 am

  EUR/USD Settles Near Weekly High

  

  The Euro (EUR) rose against the U.S. Dollar (USD) for the third consecutive day, keeping the rising trend this week, rebounding from multi-month lows. The EUR/USD pair increased by 0.11% to settle at 1.1759. The pair will now target levels between 1.1775 and then 1.1800. Today saw the biggest daily …

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