Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 24 August 2021 9:03 pm

  Richmond Fed Manufacturing Index Plunges

  

  The Federal Reserve Bank of Richmond Survey of Manufacturing Activity’s composite index declined to a reading of 9 in August from 27 in July, data showed on Tuesday. The reading indicates a slowdown in manufacturing activity to its lowest level since June 2020. The shipments index also decreased to 6 …

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• 24 August 2021 7:43 pm

  U.S. New Home Sales Rise in July

  

  New home sales in the United States increased last month, as the housing market continues to show signs of strength, data showed on Tuesday. The sales of new single-family homes increased by 6.6% to a seasonally adjusted annual rate of 708,000 units in July, according to the U.S. Department of …

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• 24 August 2021 5:25 pm

  Philly Fed Nonmanufacturing Index Drops to 39.1 in August

  

  The Federal Reserve Bank of Philadelphia’s business activity index declined to 39.1 in August from 53.8 in July. Further details of the publication showed that the Firm-level Business Activity Index declined to 37.2 from 44.8 and the Full-time Employment Index declined to 8.2 from 24.8.

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• 24 August 2021 4:32 pm

  UK Home Sales Fell More Than 60% in July

  

  Home sales in Britain during the month of July decreased by about 63%, after reducing a tax exemption aimed at encouraging home purchases during the Coronavirus crisis. The British Tax Office said Tuesday, August 24, that the number of homes sold in July, after adjusting for seasonal factors, was 73,740, …

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• 24 August 2021 3:25 pm

  The Pound Maintains Its Gains Against The Dollar Despite Selling Pressures

  The British pound maintained its gains against the US dollar and the euro, although it fell slightly in early trading on Tuesday. It maintained its gains that exceeded 1% during Monday’s trading, in conjunction with the recovery of risk appetite in global markets and the recovery witnessed in stock markets …

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• 24 August 2021 2:35 pm

  Gold Falls, Hovers Above $1,800 on Virus Fears

  

  Gold prices fell on Tuesday, August 24th but hovered above the psychologically important $1800 level, as the growing threat from increased delta cases fueled expectations that the Federal Reserve may delay easing its accommodative stance. Spot gold fell 0.1% to $1,803.53 an ounce, after jumping about 1.4% on Monday. And …

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• 24 August 2021 1:58 pm

  European Stocks Continue to Recover

  

  European shares continued to recover on Tuesday, August 24, after a full US approval of a vaccine to prevent Covid-19 boosted Wall Street to record highs, while the latest data showed a stronger-than-expected economic recovery in Germany. The STOXX 600 index of European shares rose 0.3% by 07:11 GMT, after …

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• 24 August 2021 1:13 pm

  Oil Rises as Demand Hopes Grow After Full US Approval For a Covid-19 Vaccine

  

  Oil prices rose on Tuesday, August 24 after the US Food and Drug Administration granted full approval for the use of the Pfizer-BioNTech vaccine against Covid-19, raising investors’ hopes of higher fuel demand due to a possible increase in US vaccination rates. Brent crude futures rose 46 cents, or 0.7%, …

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• 24 August 2021 12:28 pm

  Stronger-Than-Expected Recovery For Germany’s Economy in The Second Quarter Thanks to Consumers And Government Spending

  

  The German Federal Statistics Office said in a revision of an earlier estimate that private consumption and government spending led to a stronger-than-expected economic recovery in Germany in the second quarter, following the easing of anti-Covid-19 restrictions. The bureau added that gross domestic product grew 1.6% in the April-June quarter, …

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• 24 August 2021 4:06 am

  Wall Street Rebounds with Nasdaq Hitting New Record High

  

  The main indices of the New York Stock Exchange (NYSE) finished higher on Monday, with the Nasdaq hitting a new all-time closing high and the S&P 500 nearing its record high. Meanwhile, Wall Street investors seemed more optimistic about efforts to combat the coronavirus pandemic, after the Food and Drug …

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• 24 August 2021 3:41 am

  GBP/USD Rebounds to Snap Two-Day Losing Streak

  

  The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) recovering some of its recent losses last week. The GBP/USD pair gained 0.70% to reach 1.3722, in its biggest rise in a single session since July 9. The Sterling was able to snap a two-session losing streak, but …

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• 24 August 2021 2:55 am

  Oil Scores Highest Gains Since Late March

  

  Oil prices closed higher on Monday with their best performance in five months, recovering most of their losses last week, despite lingering concerns over the spread of the Coronavirus Delta variant. Today’s rebound, the highest since March 24, snaps a seven-session declining streak for oil futures, which brought them to …

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• 24 August 2021 1:06 am

  Gold Extends Gains as Dollar Retreats to Restore $1,800 Level

  

  Gold prices rose for the second straight session on Monday, building on the U.S. Dollar’s (USD) decline across the board against major currencies amid selling pressures following its surge to a nine-month high by the end of last week. Gold’s front-month futures added $22.20, or 1.25%, to finish at $1803.2 …

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