Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 17 August 2021 7:48 pm

  U.S. Housing Market Index at Lowest Level in a Year

  

  The United States Housing Market Index declined by 5 points to 75 in August, according to data by the National Association of Home Builders (NAHB) and Wells Fargo released on Tuesday. Although the reading remains positive as it is above the 50-point mark, the index has reached its lowest level …

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• 17 August 2021 5:53 pm

  US: Industrial Production Expands by 0.9% in July

  

  Industrial Production in the United States expanded by 0.9% on a monthly basis in July, the data published by the US Federal Reserve revealed on Tuesday. This print followed June’s increase of 0.2% (revised from 0.4%) and came in better than the market expectation of 0.4%.

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• 17 August 2021 5:09 pm

  U.S: Retail Sales Decline by 1.1% in July

  

  Retail Sales in the US declined by 1.1% on a monthly basis in July to $617.7 billion. This reading followed June’s expansion of 0.67% (revised from 0.6%) and came in worse than the market expectation for a decrease of 0.2%. Consumers make up nearly 70% of all activity in the …

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• 17 August 2021 4:28 pm

  The Turkish Lira at Its Strongest Level in Two Weeks Against The Dollar

  

  On Tuesday, August 17th, the Turkish lira touched its strongest level against the US currency in nearly two weeks after investors’ concerns about a possible further easing in monetary policy eased. The lira reached 8.39 against the dollar, rising from a closing level of 8.4550 on Monday. Last week, Turkey’s …

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• 17 August 2021 3:30 pm

  Eurozone Growth Confirmed at 2% in Q2

  

  The European Union statistics office Eurostat said on Tuesday that the eurozone economy grew by 2 percent in the second quarter of the year, confirming its previous reading, as the easing of restrictions related to the Coronavirus stimulated economic activity after a brief recession. In a separate statement, Eurostat said …

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• 17 August 2021 2:29 pm

  US dollar Rose And New Zealand Dollar Fell Due to New General Isolation Measures

  The New Zealand dollar fell to its lowest in nearly three weeks on Tuesday, August 17, after the country detected its first case of COVID-19 since February, prompting the government to announce new, short-term public isolation measures. The currency fell significantly in the early hours of trading in Asia, and …

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• 17 August 2021 1:38 pm

  Oil Prices Fall Due to Concerns About Delta Infection

  

  Oil prices fell on Tuesday, August 17th, paring early gains, as fears of slowing demand for crude amid rising delta infections outweighed expectations that major oil producers would not boost supplies soon. Brent crude fell 51 cents, or 0.7%, to $69 a barrel, after reaching $69.77 earlier in the session. …

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• 17 August 2021 12:47 pm

  Nikkei Index Falls For The Fourth Day, And Virus Fears Overshadow Promising Results

  

  The Japanese Nikkei index fell for the fourth consecutive session Tuesday, August 17th as concerns about the rapidly spreading delta strain of the Coronavirus overshadowed optimism about promising results for companies. The index closed down by 0.36% to 27424.47 points, erasing its previous gains, which amounted to 0.52%, following strong …

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• 17 August 2021 7:21 am

  More Signs Fed Might Begin Tapering in the Fall

  

  Boston Fed President Eric Rosengren was the latest Fed official to support the U.S. Federal Reserve Bank beginning the tapering process of the current massive asset purchases in the next federal open market committee (FOMC) meeting, which takes place in September. He thinks it is appropriate to start in the …

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• 17 August 2021 5:12 am

  Jeff Bezos Sues NASA over Elon Musk’s Contract

  

  Jeff Bezos Blue Origin is suing the United States government over issues in NASA’s Human Landing System $2.9-billion contract that the space agency awarded to Elon Musk’s SpaceX. Blue Origin said that there were flaws in the acquisition process in the deal, with the company aiming to work on NASA’s …

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• 17 August 2021 4:31 am

  Fed’s Rosengren Thinks Tapering Should Begin in October or November

  

  The President of the Federal Reserve Bank of Boston, Eric Rosengren, said it would be appropriate to begin tapering the massive asset purchases after another month of strong jobs data. “We have had two months in a row where we have created more than 900,000 jobs and the unemployment rate …

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• 17 August 2021 4:04 am

  Wall Street Recovers Earlier Losses and Finishes Mostly at New Record Highs

  

  The main indices of the New York Stock Exchange (NYSE) continued to show a mixed performance, with Wall Street investors seemingly not paying much attention to the disappointing economic data in the U.S. and China. The Dow Jones Industrial Average closed higher by 110.02 points, or 0.31%, at 35,625.4 points, …

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• 17 August 2021 3:50 am

  Oil Settles Lower due to Recovery Concerns

  

  Oil prices declined on Monday, with economic data in the world’s two biggest economies renewing concerns over the pace of recovery from the coronavirus pandemic, especially with the spread of the Delta variant. Factory production and retail sales in China slowed sharply last month, while in the United States, the …

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