Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 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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• 17 August 2021 2:02 am

  Gold Scores Gains on Negative Economic Data

  

  Gold prices rose on Monday, managing to register its second consecutive daily rise, amid a fluctuating performance by the U.S. Dollar (USD) that also remained mostly in the positive territory, with disappointing economic data giving support to the demand for safe havens. Gold futures for December delivery added $11.70, or …

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• 16 August 2021 9:31 pm

  European Stocks Closes Lower to ends Record-Breaking Rally

  

  European stocks finished lower on Monday, opening the week with a negative performance that ends a 10-session record-breaking tally, the longest in about 14 years. Weaker than expected economic indicators in China are weighing on investors’ sentiment and risk appetite, with continuous concerns over the resurgence of the coronavirus with …

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• 16 August 2021 7:38 pm

  Canadian Wholesale Sales below Expectations in June

  

  Canadian wholesale sales declined by 0.8% on an annual basis in June to CAD 71.5 billion, but 2.1% for the month, below market expectations of a 2.5% increase, according to data by Statistics Canada on Monday. The wholesale sales of building materials and supplies dropped by 5.4%, while sales of …

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• 16 August 2021 5:27 pm

  Manufacturing Sales Increase by 2.1% in June

  

  Manufacturing Sales rose by 2.1% on a monthly basis in June to C$59.2 billion, the data published by Statistics Canada reported on Monday. This reading followed June’s contraction of 0.3% and missed the market expectation for an increase of 2.5%.

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• 16 August 2021 4:47 pm

  Gold Falls From a Week’s Peak as The Dollar Rises

  

  Gold prices retreated from their highest level in a week on Monday, August 16 with the dollar’s rise, but easing concerns about the US Federal Reserve’s early cut in stimulus policies, and fears of an outbreak of the Delta strain contributed to the price of the yellow metal remaining near …

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• 16 August 2021 4:45 pm

  NY Empire State Manufacturing Index slumps to 18.3 in August

  

  The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey fell sharply to 18.3 in August from 43 in July. This reading missed the market expectation of 29 by a wide margin.

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