Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 5 August 2021 4:00 am

  Oil Prices Register Third Consecutive Daily Loss

  

  Oil prices extended losses on Wednesday for the third consecutive session, after data showed an increase in crude inventories in the United States against market expectations, coupled with a weaker than expected ADP jobs report. Pandemic-related concerns and fears surrounding demand recovery from the coronavirus crisis with the spread of …

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• 5 August 2021 3:15 am

  Gold Closes with Modest Gains

  

  Gold futures finished nearly unchanged on Wednesday amid a rebound by the U.S. Dollar (USD) and an improved investors’ sentiment. The yellow metal maintained modest gains, with front month futures gaining 40 cents, or 0.02%, to close at $1,810.50 per ounce. A weaker than expected ADP jobs report in the …

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• 4 August 2021 11:59 pm

  Yellen Warns Against Neglecting Biden’s Spending Plans

  

  The United States Secretary of the Treasury, Janet Yellen, is warning against partisan disagreements over the huge infrastructure investment plan, proposed by President Joe Biden. A copy of Yellen’s remarks was obtained earlier today by CNBC, ahead of a speech that she will give on Wednesday in Atlanta. Yellen reportedly …

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• 4 August 2021 10:30 pm

  European Stocks Finish at New Record High

  

  Europe’s stocks logged another all-time high closing level on Wednesday, supported by an improved investors’ sentiment pushed by the recent positive earnings reports. Pandemic-related concerns with the spread of the Delta variant had a lesser impact on European exchanges today, with positive economic data easing worries about economic recovery. Business …

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• 4 August 2021 8:21 pm

  Oil Extends Losses After Surprise Build-Up in U.S. Inventories

  

  Crude oil inventories in the United States increased by 3.6 million barrels last week, the Energy Information Administration (EIA) reported on Wednesday. Meanwhile, gasoline inventories declined by 5.3 million barrels in the week ended July 30, and distillate stockpiles rose by 800,000 barrels. The rise in crude supplies comes against …

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• 4 August 2021 8:10 pm

  Fed’s Clarida Believes Interest Rate Hike Could Take Place in Early 2023

  

  The Vice Chairman of the United States Federal Reserve, Richard Clarida, said on Wednesday that an interest rates hike could be suitable by the end of next year. With the economy continuing to grow, the labor market recovering, and inflation remaining above 2% in line with the Fed’s new guidelines, …

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• 4 August 2021 6:25 pm

  US: Markit Services PMI Edged Lower to 59.9 in July

  

  The economic activity in the US services sector continued to expand in July, albeit at a softer pace than it did in June, with the Markit Services PMI declining to 59.9 (final) from 64.6. Further details of the publication showed that the Composite PMI edged lower to 59.9 from 63.7 …

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• 4 August 2021 5:18 pm

  General Motors Posts Lower-Than-Expected Profit in Q2 2021

  

  General Motors made a profit less than Wall Street’s second-quarter earnings expectations despite posting solid profits and raising year-on-year guidance. GM’s second-quarter profit fell by about $1.3 billion due to warranty recovery costs, including $800 million related to the Chevrolet Bolt EV. The electric vehicle was recalled twice in the …

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• 4 August 2021 4:38 pm

  US Private Sector Employment Rises by 330K in July

  

  Employment in the US’ private sector increased by 330,000 in July, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed June’s increase of 680,000 and missed the market expectation of 695,000 by a wide margin.

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• 4 August 2021 3:11 pm

  Eurozone Retail Sales Rise 5.0% YoY in June

  

  Eurozone’s Retail Sales rose by 1.5% MoM in June versus 1.7% expected and 4.1% last, the official figures released by Eurostat showed on Wednesday. On an annualized basis, the bloc’s Retail Sales increased by 5.0% in June versus 8.6% booked in May and 4.5% estimated.

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• 4 August 2021 2:47 pm

  Aramco: Saudi Arabia Will Raise Crude Prices to Asia in September

  

  Saudi Aramco said on Wednesday that the kingdom, the world’s largest crude exporter, raised the official selling price of Arab Light crude to Asia in September to $3 a barrel above the average price of Oman and Dubai crudes. Aramco set the official selling price for its Arab Light crude …

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• 4 August 2021 2:15 pm

  Currencies Overview: Employment Pushes The New Zealand Dollar Higher, And Its US Counterpart Awaits Jobs Data

  The US dollar settled near its recent lows on Wednesday, August 4th as investors awaited US jobs data as an indicator of interest rate expectations, while the New Zealand dollar rose with the country’s unemployment rate falling and expectations that interest rates will start to rise within weeks. The spotlight …

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• 4 August 2021 1:04 pm

  China Seeks Policy Mix to Boost Economic Resilience

  

  China has been contemplating a policy mix comprising diversified monetary tools, fiscal support to the economy within an appropriate range, per Xinhua News Agency. “The proactive fiscal policy should generate a greater effect, while the prudent monetary policy should maintain reasonably ample liquidity and support the continued recovery of small …

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