Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 4 August 2021 8:21 pm

  Oil Extends Losses After Surprise Build-Up in U.S. Inventories

  

  Crude oil inventories in the United States increased by 3.6 million barrels last week, the Energy Information Administration (EIA) reported on Wednesday. Meanwhile, gasoline inventories declined by 5.3 million barrels in the week ended July 30, and distillate stockpiles rose by 800,000 barrels. The rise in crude supplies comes against …

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• 4 August 2021 8:10 pm

  Fed’s Clarida Believes Interest Rate Hike Could Take Place in Early 2023

  

  The Vice Chairman of the United States Federal Reserve, Richard Clarida, said on Wednesday that an interest rates hike could be suitable by the end of next year. With the economy continuing to grow, the labor market recovering, and inflation remaining above 2% in line with the Fed’s new guidelines, …

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• 4 August 2021 6:25 pm

  US: Markit Services PMI Edged Lower to 59.9 in July

  

  The economic activity in the US services sector continued to expand in July, albeit at a softer pace than it did in June, with the Markit Services PMI declining to 59.9 (final) from 64.6. Further details of the publication showed that the Composite PMI edged lower to 59.9 from 63.7 …

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• 4 August 2021 5:18 pm

  General Motors Posts Lower-Than-Expected Profit in Q2 2021

  

  General Motors made a profit less than Wall Street’s second-quarter earnings expectations despite posting solid profits and raising year-on-year guidance. GM’s second-quarter profit fell by about $1.3 billion due to warranty recovery costs, including $800 million related to the Chevrolet Bolt EV. The electric vehicle was recalled twice in the …

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• 4 August 2021 4:38 pm

  US Private Sector Employment Rises by 330K in July

  

  Employment in the US’ private sector increased by 330,000 in July, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed June’s increase of 680,000 and missed the market expectation of 695,000 by a wide margin.

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• 4 August 2021 3:11 pm

  Eurozone Retail Sales Rise 5.0% YoY in June

  

  Eurozone’s Retail Sales rose by 1.5% MoM in June versus 1.7% expected and 4.1% last, the official figures released by Eurostat showed on Wednesday. On an annualized basis, the bloc’s Retail Sales increased by 5.0% in June versus 8.6% booked in May and 4.5% estimated.

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• 4 August 2021 2:47 pm

  Aramco: Saudi Arabia Will Raise Crude Prices to Asia in September

  

  Saudi Aramco said on Wednesday that the kingdom, the world’s largest crude exporter, raised the official selling price of Arab Light crude to Asia in September to $3 a barrel above the average price of Oman and Dubai crudes. Aramco set the official selling price for its Arab Light crude …

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• 4 August 2021 2:15 pm

  Currencies Overview: Employment Pushes The New Zealand Dollar Higher, And Its US Counterpart Awaits Jobs Data

  The US dollar settled near its recent lows on Wednesday, August 4th as investors awaited US jobs data as an indicator of interest rate expectations, while the New Zealand dollar rose with the country’s unemployment rate falling and expectations that interest rates will start to rise within weeks. The spotlight …

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• 4 August 2021 1:04 pm

  China Seeks Policy Mix to Boost Economic Resilience

  

  China has been contemplating a policy mix comprising diversified monetary tools, fiscal support to the economy within an appropriate range, per Xinhua News Agency. “The proactive fiscal policy should generate a greater effect, while the prudent monetary policy should maintain reasonably ample liquidity and support the continued recovery of small …

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• 4 August 2021 12:12 pm

  US Crude Falls For The Third Day in a Row

  

  US crude prices fell for the third day in a row on Wednesday, August 4, while there was little change in Brent crude futures contracts, with growing fears that the increasing spread of the delta strain of the Coronavirus in major consuming countries would reduce demand for fuel. US West …

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• 4 August 2021 11:32 am

  Gold Rises on Weak Dollar Ahead of US Jobs Data

  

  Gold prices rose on Wednesday, August 4th, supported by the weak dollar, but the rise in precious metal prices remained in a narrow range, as investors awaited indications from the US jobs data regarding the recovery of the labor market. Spot gold rose 0.2% to $1,813.31 an ounce, while US …

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• 4 August 2021 10:43 am

  U.S Gas Futures Records The Best Daily Performance in Nearly Two Weeks

  

  US natural gas futures rose, recording their largest one-day gain in nearly two weeks, with expectations of hotter weather conditions continuing over the coming weeks, which tends to increase demand for air cooling. Gas contracts rose to the nearest maturity by 2.3% to settle at $ 4.027 per million British …

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• 4 August 2021 4:56 am

  Robinhood Surges After Start Slow on Wall Street

  

  The stock of Robinhood, the U.S.-based financial services company that pioneered commission-free trading and became famous on the back of meme trading, is witnessing a strong beginning days after its debut on Wall Street. The initial public offering of Robinhood was completed on Thursday, and the company’s stock was listed …

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