Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 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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• 11 August 2021 4:12 pm

  Oil Falls on CNBC’s Report on The White House’s Demand For OPEC to Pump More Supplies

  

  Oil fell below $70 a barrel, pressured by a CNBC report that the White House will call on OPEC and its allies to boost production in an effort to stem rising gasoline prices. And the price of Brent crude is up 35% since the beginning of this year, supported by …

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• 11 August 2021 3:40 pm

  Brent Crude Rises Towards $71 Amid Signs of Increased Demand in America

  

  Oil rose towards $71, as signs of increased fuel demand in the United States offset concerns about travel restrictions in Asia due to the spread of the Delta strain. Sector data showed a decline in US crude and gasoline stocks last week, while the US Energy Information Administration said that …

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• 11 August 2021 2:50 pm

  US Senate Approves $3.5 Trillion Budget Resolution

  

  Senate Democrats have taken their first step toward passing a $3.5 trillion spending plan as the Democratic Party pushes forward with a massive economic agenda. More than 14 hours later, the Democratic-controlled US Senate voted 50-49 to pass the budget resolution. A bill would be drafted by the committees, which …

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• 11 August 2021 2:10 pm

  European Socks on Track For Longest Winning Streak Since June

  

  European shares hit record highs and are on track to post their longest winning streak in two months, with a rally in banks and mining companies boosting investor sentiment already high thanks to a strong earnings season. The pan-European STOXX 600 index rose 0.2%, hitting an all-time high for the …

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• 11 August 2021 1:30 pm

  Japan Shares Close Higher For The Fourth Consecutive Session, Thanks to Corporate Earnings

  

  Japanese stocks closed higher for the fourth consecutive session, helped by strong profits announced by Bridgestone and other companies, while the banking sector received support from the rise in US bond yields. The Nikkei index rose 0.65% to 28,070.51 points, the first close above the 28 thousand points level since …

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• 11 August 2021 1:00 pm

  Goldman Sachs Cuts China Oil Demand Forecast

  

  US investment bank Goldman Sachs lowered its forecast for China’s oil demand in the next two months, citing mounting concerns about the impact of the next wave of COVID-19 infections. The US bank, which already trimmed its forecast last month for emerging market demand due to the delta mutant strain, …

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• 11 August 2021 12:30 pm

  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 …

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• 11 August 2021 11:31 am

  Car Sales in China Fell 12% in July

  

  Auto sales in China declined by 11.9% in July, compared to the same month last year. Data from the China Automobile Manufacturers Association revealed that total sales in the world’s largest auto market amounted to 1.86 million vehicles in July. Sales of new energy vehicles, including battery-electric cars, gasoline-electric hybrid …

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• 11 August 2021 11:10 am

  Productivity Growth Slows in The Second Quarter And Labor Costs Fall in The First Quarter

  

  The US Labor Department said on Tuesday that labor productivity growth in the United States slowed in the second quarter, while labor costs were much weaker than expected in the first quarter. Non-farm productivity, which measures hourly output per worker, rose 2.3% on-year in the past quarter. The data for …

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• 11 August 2021 10:33 am

  Gold Gets Support From Delta Variant Fears, Eyes on Inflation

  

  Gold prices rose, as fears of a rise in covid-19 cases with the mutated strain of the Coronavirus outweighed pressures from the rise in the dollar and bond yields, while investors awaited inflation data in the United States due to being released later today. Spot gold rose 0.2% to $1,732.61 …

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• 11 August 2021 2:56 am

  Oil Closes Higher after Senate Passes Infrastructure Bill

  

  Oil prices closed higher on Tuesday for the first time in three sessions, amid improved expectations for demand recovery after the U.S. Senate passed a huge infrastructure package. Brent crude oil futures for October delivery gained $1.59, or 2.30%, to close at $70.63 per barrel. The West Texas Intermediate futures …

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