Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 19 August 2021 5:43 pm

  US: Philadelphia Fed Manufacturing Index Drops to 19.4 in August

  

  The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 19.4 in August from 21.9. This reading came in weaker than the market expectation of 23.

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• 19 August 2021 4:55 pm

  Canada: ADP Employment Increases by 221,300 in July

  

  Private sector employment in Canada rose by 221,300 jobs from June to July, the ADP Research Institute revealed in its monthly report on Thursday. This reading followed the previous print of -106,200 (revised from -294,200).

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• 19 August 2021 4:35 pm

  US: Weekly Initial Jobless Claims Decline to 348K

  

  There were 348,000 initial claims for unemployment benefits in the US during the week ending August 14, the data published by the US Department of Labor showed on Thursday. This reading followed the previous print of 377,000 and came in better than the market expectation of 363,000.

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• 19 August 2021 4:09 pm

  Moody’s Expects The Global Economy to Recover by 5.7% This Year

  

  Moody’s, the credit rating agency, expected in a research note issued today, Thursday, that the global economy is likely to recover by 5.7% this year, after it contracted by 3.6% last year, with the expansion of vaccinations with the Corona vaccine, despite the uneven economic recovery in many regions of …

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• 19 August 2021 3:21 pm

  Eurozone Current Account Surplus Jumps by More Than Half in June

  

  The eurozone’s current account surplus more than halved in June compared to the previous month, driven by an increase in the services trade surplus. According to data from the European Central Bank on Thursday, August 19, the bloc, which includes 19 countries that deal in the euro, recorded a current …

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• 19 August 2021 2:35 pm

  Oil Drops to $66, Lowest Since May on Demand Concerns

  

  Oil fell to $66 a barrel on Thursday, the lowest level since May, under the weight of fears of weak demand with an increase in Covid-19 cases, a rise in the US dollar, and a sudden jump in US gasoline stocks. The World Health Organization has warned of the spread …

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• 19 August 2021 2:15 pm

  The Dollar at a 9-Month High After The Release of The Minutes of the US Federal Reserve Meeting

  

  The dollar rose to a 9-month high on Thursday, as global markets fell after the minutes of the latest US Federal Reserve meeting revealed that policymakers expect to reduce the stimulus related to the Corona pandemic period before the end of the year. The dollar index, which measures the performance …

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• 19 August 2021 1:44 pm

  European Shares Fall 1% on Fears of Monetary Tightening

  

  European shares retreated more than 1%, amid fears of a faster-than-expected global monetary policy tightening, while lower commodity prices dented mining stocks to their lowest level in a month. The pan-European STOXX 600 index fell 1.5%, to its lowest level in two weeks, while mining shares fell 4.2%. Asian stocks …

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• 19 August 2021 1:24 pm

  Gold Falls After Fed Minutes Ginted at Stimulus Cut

  

  Gold prices fell today, with the dollar rising to its highest level in months after the minutes of the US Federal Reserve meeting indicated that it will start reducing its pandemic-related stimulus this year. And gold fell in spot transactions 0.5% to $ 1779.52 an ounce. US gold futures fell …

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• 19 August 2021 5:03 am

  Wall Street Extends Losses Following Fed’s Minutes

  

  The benchmark indices in the New York Stock Exchange (NYSE) finished lower for the second consecutive session on Wednesday, with Wall Street responding to the Federal Reserve’s July meeting minutes that showed a path to cut back the massive asset purchases before the end of 2021 or in January. The …

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• 19 August 2021 3:24 am

  Oil Drops to Lowest Closing Level in Three Months

  

  Oil prices declined on Wednesday, finishing at the lowest closing level since May, amid concerns over the spread of the coronavirus Delta variant and an expected negative impact on the recovery of energy demand. Earlier today, data showed a large drop in U.S. crude inventories to their lowest level since …

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• 19 August 2021 1:10 am

  Gold Finishes Lower but Bounces Following Fed Minutes

  

  Gold prices closed lower on Wednesday, as the U.S. Dollar (USD) continued its rally against major peers, but rebounded following the release of the Federal Reserve July meeting minutes Talks about plans for monetary policy normalization soon, beginning with limiting the asset purchases before increasing interest rate, are providing support …

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• 19 August 2021 12:06 am

  Fed Growing Worried of Stablecoins Risks and Fragility

  

  The U.S. Federal Reserve is seemingly concerned about the risks of stablecoins, with potential threats to financial stability. Minutes of the Fed’s July meeting, released earlier today, showed that members of the Federal Open Market Committee (FOMC) believe that significant structural vulnerabilities remained at entities such as prime money funds. …

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