Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 31 August 2021 5:33 am

  OPEC+ to Maintain Output Policy

  

  It is expected that the upcoming meeting for the Organization of the Petroleum Exporting Countries (OPEC) and its allies will decide on Wednesday to maintain the current output policy, which entails easing production cuts gradually, amid a global recovery from the pandemic. The OPEC+ previously decided to increase production by …

  Read More »
• 31 August 2021 5:28 am

  Wall Street Mixed Logging New Record Highs

  

  The main indices of the New York Stock Exchange (NYSE) closed mostly higher on Monday, with S&P 500 and the Nasdaq hitting new fresh closing record highs in the first session of the week. Wall Street investors showed an increased appetite for technology stocks. The Dow Jones Industrial Average lost …

  Read More »
• 31 August 2021 4:37 am

  Bitcoin Trading a Little Below $47,000

  

  Most cryptocurrencies are showing a negative performance on Monday, led by Bitcoin. The world’s largest digital currency in terms of market capitalization is trading down for the day by 3.87% at $46,761.30, extending its losses over the past seven days to 5.3%. Meanwhile, Ethereum and XRP are down by 0.7% …

  Read More »
• 31 August 2021 4:08 am

  USD Scores Marginal Gains Moving Horizontally

  

  The U.S. Dollar (USD) was little changed on the first session of the week against major currencies, leveling up for the third consecutive session with a modest rise. The greenback leveled up by about 0.03% against major currencies. Against the Euro (EUR), the USD lost 0.02%, with the EUR/USD pair …

  Read More »
• 31 August 2021 1:02 am

  Oil Finishes Higher Ahead of OPEC Meeting

  

  Oil prices closed higher on Monday, with markets anticipating the results of the upcoming OPEC+ meeting, which will likely result in maintaining the current gradual approach in easing output curbs. Crude prices increased after Hurricane Ida led to the shut down of most refineries in the Gulf Coast. Brent crude …

  Read More »
• 31 August 2021 12:25 am

  European Stocks Finish Higher After German Data

  

  European stocks finished Monday higher, opening the week with a positive performance, maintaining an upward trend for the second day in a row. The STOXX Europe 600 Index rose 0.34 point or 0.07% to 472.68 points. This is the highest closing value for the pan-European index since August 18. In …

  Read More »
• 30 August 2021 9:45 pm

  U.S. Pending Home Sales Drop in July

  

  The United States Pending Home Sales Index declined by 1.8% last month, according to data by the National Association of Realtors on Monday. The reading comes against market expectations of a modest increase, while the June reading was revised upwards to 2%. On an annual level, pending home sales decreased …

  Read More »
• 30 August 2021 7:44 pm

  Dallas Fed Manufacturing Business Index Slows

  

  The growth of factory activity in Texas slowed in August, according to the Texas Manufacturing Outlook Survey, by the Federal Reserve Bank of Dallas. The production index decreased by 10 points to 20.8, while the new orders index retreated to 15.6 from 26.8. The growth rate of orders declined by …

  Read More »
• 30 August 2021 5:42 pm

  Reuters: OPEC+ Are Likely to Roll Over Output Policies on Wednesday

  

  At their meeting on September 1, the OPEC and its allies (OPEC+) are likely to maintain the oil output policies, Reuters reports, citing sources familiar with the cartel’s thinking. The sources said that OPEC+ will kick off with the planned 400K barrel per day (bpd) hike from September. “Current oil …

  Read More »
• 30 August 2021 4:20 pm

  Germany: Annual HICP Rises to 3.4% in August

  

  According to the preliminary estimate published by Destatist on Monday, consumer inflation in Germany, as measured by CPI, decelerated sharply in August and remained flat as compared to the 0.9% rise recorded in the previous month. On a yearly basis, the CPI edged higher to 3.9% from 3.8% in July.

  Read More »
• 30 August 2021 3:05 pm

  The Dollar at a Two-Week Low

  The dollar held near two-week lows on Monday, held in check by a message from the US Federal Reserve chairman that there is no rush to withdraw massive stimulus. The US currency’s allure took a hit since Friday, when Federal Reserve Chairman Jerome Powell said a gradual reduction of stimulus …

  Read More »
• 30 August 2021 2:13 pm

  Gold Prices Drop After The Federal Reserve

  

  Gold prices fell on Monday, August 30, as risk appetite improved after US Federal Reserve Chairman Jerome Powell calmed market fears of a rapid withdrawal of stimulus applied to mitigate the impact of the Coronavirus pandemic, reducing the yellow metal’s safe-haven appeal. Spot gold fell 0.2% to $1,813.76 an ounce …

  Read More »
• 30 August 2021 1:32 pm

  Japan Shares Close Higher Thanks to Wall Street Gains

  

  Japanese stocks rose on Monday, August 30, due to a rebound on Wall Street, after US Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole forum eased market concerns about a rapid withdrawal of stimulus measures due to the epidemic. The broader TOPIX index rose near the close to …

  Read More »