Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 12 August 2021 5:27 pm

  U.S: Annual PPI Rises to 7.8% in July

  

  The Producer Price Index (PPI) in the US for final demand rose to 7.8% on a yearly basis in July from 7.3% in June, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading came in higher than the market expectation of 7.3%. On a …

  Read More »
• 12 August 2021 4:44 pm

  Weekly Initial Jobless Claims Decline to 375K

  

  There were 375,000 initial claims for unemployment benefits in the US during the week ending August 7, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 387,000 (revised from 385,000) and matched the market consensus.

  Read More »
• 12 August 2021 3:54 pm

  OPEC Leaves 2021 And 2022 World Oil Demand Growth Forecasts Unchanged

  

  In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) announced that it left the 2021 and 2022 world oil demand growth forecasts unchanged despite concerns over Delta variant weighing on energy demand. OPEC currently expects the global demand to rise by 6.6%, or 5.95 …

  Read More »
• 12 August 2021 3:21 pm

  Turkey: CBRT Leaves Policy Rate Unchanged at 19%

  

  The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 19% as expected.  “Taking into account the high levels of inflation and inflation expectations, the current tight monetary policy stance will be maintained decisively until the significant fall …

  Read More »
• 12 August 2021 2:53 pm

  European Shares Stabilize on Strong Earnings And M&A Activity

  

  European shares stabilized, trading slightly below record highs, as strong profits achieved by a group of insurance companies and mergers and acquisitions activities in Britain helped offset the decline in mining companies. The pan-European Stoxx 600 index settled in morning trading after eight consecutive days of record gains. British insurer …

  Read More »
• 12 August 2021 1:44 pm

  Dollar Drops Off 4-Month High as Inflation Fears Recede

  The dollar hit just under a four-month peak against major peers on Thursday as currency traders digest data from the previous day showing that US inflation may be flailing. The dollar index, which measures the performance of the US currency against a basket of six rival currencies, was unchanged at …

  Read More »
• 12 August 2021 1:12 pm

  Oil Stabilizes on Supply Concerns Sparked by a US Call For Higher Production

  

  Oil prices fell after two days of gains after the United States, the world’s largest oil consumer, urged major producers to increase production, bolstering supply concerns as economies ease restrictions imposed to combat the Coronavirus. Brent crude futures fell 17 cents, or 0.2 percent, to $71.27 a barrel in Asian …

  Read More »
• 12 August 2021 12:26 pm

  Gold Rises as Concerns Recede Over US Federal Reserve Subsidy Cut

  

  Gold prices rose, as concerns about an early cut in economic support eased after data revealed that consumer price inflation in the United States cooled in July, sending the dollar lower. And gold rose in immediate transactions 0.1% to $ 1753.90 an ounce in Asian trading, after recording its largest …

  Read More »
• 12 August 2021 11:29 am

  Japan Shares Fall as Chips Hit by Outlook Fears

  

  Japanese stocks fell, after gains for four straight sessions, as chip-related stocks were hit by fears that their best days may be over with supplies returning. The worsening coronavirus infections in the country have negatively affected travel-related sectors, while waning support for Prime Minister Yoshihide Suga has raised further concerns …

  Read More »
• 12 August 2021 11:03 am

  Britain’s economy grew 1% faster than expected in June

  

  Official data revealed that Britain’s economy grew faster than expected at 1 percent in June. A Reuters poll of economists had indicated a 0.8 percent growth in gross domestic product on a monthly basis. The Office for National Statistics also revised its growth estimate for May down to 0.6 percent …

  Read More »
• 12 August 2021 6:58 am

  Fed Officials Thinks the Time for Tapering Has Come

  

  More Federal Reserve officials have come forward with calls for monetary policy normalization and scaling back the highly accommodative easing policies of record-low interest rates and massive asset purchases, as the U.S. economy continues to show recovery signs and higher inflation rates. On Wednesday, both Kansas City Fed President Esther …

  Read More »
• 12 August 2021 6:29 am

  U.S. Stocks at Record Highs Following Inflation Data

  

  The New York Stock Exchange (NYSE) managed to close mostly higher on Wednesday, with the Dow and S&P 500 indices finishing at new record highs for the second consecutive session, with Wall Street investors focusing on inflation data in the U.S. Earlier, data by the U.S. Department of Labor showed …

  Read More »
• 12 August 2021 5:47 am

  Oil Rebounds After U.S. Calls for Higher Output and Inventory Drop

  

  Oil prices closed higher on Wednesday, rebounding from early losses that followed news about pressuring OPEC to raise production and the release of the weekly inventory data in the United States. The U.S. is asking the Organization of the Petroleum Exporting Countries (OPEC) to increase production, claiming that the global …

  Read More »