Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 28 August 2021 1:27 am

  Gold Scores Third Straight Weekly Gain and Biggest in Three Months

  

  Gold prices rose on Friday to finish their best week since late May after remarks by the Federal Reserve Chairman Jerome Powell only assured what we know from the FOMC July meeting minutes that the central bank sees tapering before the end of the year. The yellow metal’s front-month contracts …

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• 28 August 2021 12:25 am

  European Stocks Extend Weekly Gains

  

  European stocks finished higher on Friday, extending the fifth weekly rise in six weeks, with a relative improvement in risk appetite. The STOXX Europe 600 index increased 2 points, or 0.42%, to close at 472.34 points. The pan-European index closed the week higher by or 0.75%, maintaining a month-to-date rise …

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• 27 August 2021 9:47 pm

  Powell Message Shows Clear Direction Mixed with Uncertainty on Inflation

  

  The U.S. Federal Reserve could start cutting the monthly asset purchases this year, but would not rush raising interest rates, Chairman Jerome Powell said on Friday, in his speech to the Jackson Hole Economic Symposium. Powell explained that the American economy has made substantial further progress toward the Fed’s price …

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• 27 August 2021 7:05 pm

  Dollar Drops Following Powell’s Remarks

  

  The U.S. Dollar (USD) declined on Friday, minutes after Federal Reserve Chairman Jerome Powell publicly said that he thinks tapering could begin before the end of the year. Powell’s remarks at the Jackson Hole economic conference reaffirmed what the Fed’s July meeting minutes indicated about a majority of Fed board …

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• 27 August 2021 6:46 pm

  Breaking: Powell Endorses Tapering Before Year-End

  

  U.S. Federal Reserve Chairman Jerome Powell said on Friday that it is likely that scaling back the asset purchases will begin before the end of the year. He did, however, rule out raising interest rates in the near future. Powell was speaking earlier at the annual Jackson Hole Economic Symposium, …

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• 27 August 2021 4:57 pm

  US: Personal Income Rises by 1.1% in July

  

  The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income expanded by 1.1% in July. This reading came in better than the market expectation of 0.2%.  Further details of the report revealed that Personal Spending, which increased by 1.1% in June, rose by 0.3% in the same …

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• 27 August 2021 4:03 pm

  The Dollar Stabilizes Amid Anticipation of Powell’s Speech at Jackson Hole Symposium

  The dollar stabilized as investors awaited a highly anticipated speech by US Federal Reserve Chairman Jerome Powell, while analysts now doubt that the central bank chief will hint at a possible date to start reducing asset purchases. The focus of the market this week is on the signals that the …

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• 27 August 2021 2:47 pm

  Gold Rises Above $ 1800 Due to The Decline in The Dollar And Demand For Safe Havens

  

  Gold prices rose above the psychologically important level of 1,800 dollars on Friday, supported by demand for safe havens and the decline of the dollar, before a speech by the President of the US Central Bank will be examined for indications of reducing stimulus. Spot gold rose 0.6% to $1,802.39 …

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• 27 August 2021 1:16 pm

  Powell’s Jackson Hole Speech: Powell Unlikely to Fire Starting Pistol For Tapering

  

  The Kansas City Fed announced it would host its 2021 Economic Policy Symposium, “Macroeconomic Policy in an Uneven Economy,” virtually on Friday, Aug. 27. The Federal Reserve Bank of Kansas City’s Economic Policy Symposium in Jackson Hole, Wyo., is one of the longest-standing central banking conferences in the world. The …

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• 27 August 2021 12:51 pm

  European Shares Decline Ahead of a Speech by The President of The US Federal Reserve

  

  European shares fell ahead of a speech due to be delivered by Federal Reserve Chairman Jerome Powell. The pan-European STOXX 600 index fell 0.2% in early trading, with the travel and leisure and banking sectors leading the declines, after they achieved gains for most of the week. Investors are focused …

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• 27 August 2021 12:18 pm

  Warnings of Storm Ida and some oil Producer Stop Their Business

  

  Tropical Storm Ida formed in the Caribbean Sea and is expected to threaten the northern Gulf Coast of the United States as a major hurricane by the end of this week, the US National Hurricane Center (NHC) said, adding that there is a possibility of hurricane-force winds, heavy rain and …

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• 27 August 2021 11:25 am

  Nikkei Trails Wall Street Lower With Caution

  

  Japan’s Nikkei index fell on Friday, in line with Wall Street’s decline Thursday night, on caution about the prospects of an earlier-than-expected reduction in the US Federal Reserve’s stimulus. The Nikkei fell 0.36% to close at 27651.51 points, but it moved away from the low level it had recorded in …

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• 27 August 2021 10:31 am

  Oil Gains Halts Due to Increase in Covid-19 And Return of Mexican Supplies

  

  Oil settled lower on Thursday, August 26, halting a three-day streak of gains amid renewed demand concerns due to rising coronavirus cases and with Mexico restoring some production after a fire disrupted supplies. The losses were limited due to the possibility of further disruptions to the supply side. Energy companies …

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