Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 12 August 2021 1:44 pm

  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 …

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• 12 August 2021 1:12 pm

  Oil Stabilizes on Supply Concerns Sparked by a US Call For Higher Production

  

  Oil prices fell after two days of gains after the United States, the world’s largest oil consumer, urged major producers to increase production, bolstering supply concerns as economies ease restrictions imposed to combat the Coronavirus. Brent crude futures fell 17 cents, or 0.2 percent, to $71.27 a barrel in Asian …

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• 12 August 2021 12:26 pm

  Gold Rises as Concerns Recede Over US Federal Reserve Subsidy Cut

  

  Gold prices rose, as concerns about an early cut in economic support eased after data revealed that consumer price inflation in the United States cooled in July, sending the dollar lower. And gold rose in immediate transactions 0.1% to $ 1753.90 an ounce in Asian trading, after recording its largest …

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• 12 August 2021 11:29 am

  Japan Shares Fall as Chips Hit by Outlook Fears

  

  Japanese stocks fell, after gains for four straight sessions, as chip-related stocks were hit by fears that their best days may be over with supplies returning. The worsening coronavirus infections in the country have negatively affected travel-related sectors, while waning support for Prime Minister Yoshihide Suga has raised further concerns …

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• 12 August 2021 11:03 am

  Britain’s economy grew 1% faster than expected in June

  

  Official data revealed that Britain’s economy grew faster than expected at 1 percent in June. A Reuters poll of economists had indicated a 0.8 percent growth in gross domestic product on a monthly basis. The Office for National Statistics also revised its growth estimate for May down to 0.6 percent …

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• 12 August 2021 6:58 am

  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 …

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• 12 August 2021 6:29 am

  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 …

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• 12 August 2021 5:47 am

  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 …

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• 12 August 2021 1:25 am

  European Stocks Log Another Record High

  

  Europe’s stocks finished higher on Wednesday, continuing to hit new record highs as investors focus on earnings reports and economic data. The pan-European STOXX Europe 600 index rose by 2 points or 0.42% to close at 474.32 points, maintaining an upward trend for the eight consecutive sessions. This is the …

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• 12 August 2021 1:02 am

  Gold Scores Second Consecutive Daily Gains

  

  Gold prices rose on Wednesday with the decline of the U.S. Dollar (USD) after data showed that inflation in the United States registered 5.4% in July. The yellow metal managed to close higher for the second consecutive day, registering its highest gains since July 29. Gold front-month futures gained $21.60, …

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• 11 August 2021 10:28 pm

  U.S. Budget Deficit Narrows in July

  

  The United States federal budget deficit declined to about $2.5 trillion during the first ten months of the current fiscal year, compared with $2.8 trillion in the comparable period of last year, data showed on Wednesday. The U.S. Department of the Treasury reported that the deficit increased to $302 billion …

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• 11 August 2021 8:24 pm

  Brent Below $70 after U.S. Inventories Draw

  

  Oil prices declined on Wednesday after data showed a decline in U.S. crude inventories last week. Earlier, the U.S. Energy Information Administration (EIA) reported that crude inventories in the United States fell by 400,000 barrels last week. Meanwhile, gasoline stockpiles declined by 1.4 million barrels and distillate inventories increased by …

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• 11 August 2021 4:50 pm

  US Annual CPI Inflation Stays Unchanged at 5.4% in July

  

  Inflation in the US, as measured by the Consumer Price Index (CPI), stayed unchanged at 5.4% on a yearly basis in July, the data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in slig

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