Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 3 August 2021 4:50 am

  Oil Snaps Three-Session Rising Streak with Large Losses

  

  Oil prices closed lower on Monday, amid increased concerns about the pace of economic recovery from the coronavirus pandemic with the rising number of infections with the new Delta variant, especially after indicators showed slower growth in activity in the U.S. and China last month. PMI readings in the world’s …

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• 3 August 2021 1:38 am

  Gold Closes Higher as USD and Treasury Yields Fade

  

  Gold prices finished higher on Monday as the U.S. Dollar (USD) declined across the board with Treasury bond yields falling to their lowest level in about six months. The yellow metal remains supported by the mixed economic data are concerns over the spread of the novel coronavirus Delta variant. Gold …

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• 2 August 2021 9:02 pm

  European Stocks Hit New Record High

  

  An improvement in investors’ sentiment helped European stocks finish at a new record level on Monday, opening the first session of August with a positive performance after gaining about 2% in July. The STOXX Europe 600 index closed higher by 0.59% at a new record high of 464.45 points. Gains …

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• 2 August 2021 8:50 pm

  USD Extends Losses After PMI Reading

  

  The U.S. Dollar (USD) is maintaining a downward trend on Monday, opening the week with a negative performance across the board. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.18% at 92. Earlier today, the index touched a daily …

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• 2 August 2021 7:48 pm

  U.S. Construction Spending Rises Modestly in June

  

  Construction spending in the United States increased marginally in June, data by the U.S. Department of Commerce showed on Monday. An increase of 0.1% in June brought construction expenditure to a seasonally adjusted annual rate of $1.55 trillion. The May reading was revised upwards to show a 0.2% decline, versus …

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• 2 August 2021 5:40 pm

  IMF: USD Likely Overvalued by 8.2% With a Range of 5.2% to 11.2% During 2020

  

  In its recently published External Sector Report, the International Monetary Fund noted that they have assessed the US dollar as likely overvalued by 8.2% with a range of 5.2% to 11.2% during 2020, as reported by Reuters.

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• 2 August 2021 4:29 pm

  Germany: Manufacturing Sector Improves in August

  

  Data from the Markit released this morning, Monday, showed that the preliminary reading of the PMI data in the manufacturing sector in Germany rose better than expected during this August, as the preliminary reading of the index recorded about 65.9 points, while market expectations indicated that the index would stabilize …

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• 2 August 2021 3:37 pm

  Aramco Denies Bitcoin Rumor

  

  A few days ago, Amazon denied news of its intention to accept Bitcoin as a payment method in the near future, but company officials did not rule out the matter in the future. Hours ago, Saudi Aramco confirmed that the allegations that it plans to engage in Bitcoin activities are …

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• 2 August 2021 2:36 pm

  Turkey’s Trade Deficit Rises to $4.3B in July

  

  Turkey’s trade deficit increased by 52.4% to $4.3 billion in July. The Turkish Ministry of Trade said that exports rose in July by 10.2% to record 16.41 billion dollars, after being hit in the spring of last year due to the impact of the Covid-19 pandemic on trade with Ankara’s …

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• 2 August 2021 1:48 pm

  Dollar Near One-Month Low as US Jobs Data Awaits

  

  The dollar approached a one-month low on Monday at the start of a busy week with US jobs data and a decision by the Australian Central Bank. The dollar index, which measures the performance of the US currency against six major currencies, recorded 92.065, slightly down from its level on …

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• 2 August 2021 1:12 pm

  Gold Slips Amid Caution Ahead of US Data

  

  Gold prices fell amid cautious investors awaiting the non-farm payrolls data for the month of July to be released on Friday to gauge the strength of the labor market, while the attractiveness of gold also limited the rally of stocks. And gold fell in spot transactions 0.3 percent to $ …

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• 2 August 2021 12:34 pm

  European Shares at New Highs Supported by Corporate Results

  

  European stocks rose to new highs, after a series of deals and strong business results from Europe’s largest bank HSBC, while sentiment was also supported by the recovery of Asian stocks. The pan-European Stoxx 600 index rose 0.8 percent to an all-time high of 465 points in early trading. British …

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• 2 August 2021 11:58 am

  Oil prices fall on concerns about China’s economic growth and production increase

  

  Oil prices fell Monday, August 2nd on concerns about the Chinese economy, after a survey showed that factory activity growth fell sharply in the world’s second-largest oil consumer, as well as heightened concerns about an increase in oil production from OPEC producers. Brent crude futures fell 74 cents, or 1%, …

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