Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 18 August 2021 5:29 am

  Fed’s Kashkari: Cryptocurrencies are GARBAGE Coins!

  The President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, has criticized cryptocurrencies led by Bitcoin, saying that what he saw in crypto assets so far is 95% fraud, hype, noise, and confusion. The Fed official said that he was more optimistic about crypto and Bitcoin five or six …

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• 18 August 2021 3:50 am

  USD Sees Largest Daily Gains in Two Months

  

  The U.S. Dollar (USD) rose on Tuesday for the second consecutive session and registered its biggest gains against major currencies since mid-June to settle at its highest closing level since November 4, 2020. The Dollar Index (DXY) measures the greenback’s performance against a basket of six major international currencies increased …

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• 18 August 2021 1:08 am

  Fed’s Kashkari: Delta Variant Might Slow Recovery

  

  Minneapolis Fed President Neel Kashkari is seeing a lot of slack on the sidelines of the economy, with the U.S. labor market yet to recover, noting that the spread of the Coronavirus Delta variant could possibly slow the rebound. Speaking in an event in Montana on Tuesday, Kashkari reportedly said …

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• 18 August 2021 12:30 am

  Fed’s Powell: COVID Likely to Continue for a While

  

  The United States Federal Reserve Chairman, Jerome Powell, said on Tuesday that the coronavirus (COVID-19) pandemic is still with us and will likely continue for a while. Powell noted that people and businesses have improvised and learned how to adapt and live their lives despite COVID in what he described …

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• 17 August 2021 10:29 pm

  Gold Declines as USD Strengthens Across the Board

  

  Gold prices declined on Tuesday, registering its biggest loss since the beginning of last week, as the U.S. Dollar (USD) rose against major peers. Markets are seemingly not paying the usual attention to today’s remarks by the Chairman of the United States Federal Reserve, who spoke in an academic virtual …

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• 17 August 2021 10:13 pm

  European Stocks Close with Modest Gains

  

  European stocks returned to gains on Tuesday, closing marginally higher with investors closely following recent economic data that renewed concerns over the pace of recovery with the spread of the Coronavirus Delta variant. The STOXX Europe 600 index added 0.33 points, or 0.07%, to close at 473.78 points. The healthcare …

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• 17 August 2021 9:05 pm

  U.S. Business Inventories Rise in June

  

  Business inventories in the United States registered a large increase in June, the U.S. Department of Commerce reported on Tuesday. With a monthly increase of 0.8%, business inventories exceeded the 0.6% growth seen in May. On an annual level, business inventories rose by 6.6%. Retail inventories also leveled up by …

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• 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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