Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 20 August 2021 8:34 pm

  Cryptocurrencies Extend Gains amid Higher Demand

  

  Cryptocurrencies are rising across the board with increased investors’ demand and news about investment inflows from institutions. Coinsbase reportedly plans to invest $500 million in cryptocurrencies and invest future returns in a portfolio of crypto assets. The world’s biggest and most famous cryptocurrency, Bitcoin, rose by about $3,228 or 7% …

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• 20 August 2021 7:27 pm

  Wall Street Opens Higher ahead of Weekend

  

  Wall Street opened higher on Friday, showing signs of a rebound after taper talks in the Fed July meeting minutes weighed on investor’s sentiment. In addition, a hawkish tone by Dallas Fed President Robert Kaplan calmed market fears over scaling back asset purchases too soon. Kaplan told Fox News earlier …

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• 20 August 2021 5:44 pm

  Oil Heads For 7% Weekly Decline as Delta Spreads

  

  Oil prices fell on Friday for the seventh consecutive session, approaching their lowest level in three months, and heading towards a weekly decline of more than seven percent, as new closures in countries facing increasing cases of the mutated delta strain of the Coronavirus weakened expectations for fuel demand. Investors …

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• 20 August 2021 5:03 pm

  BofA: Equity Funds Attract $23.9 Billion in a Week

  

  Bank of America said in a weekly note that investors dumped cash into stock and bond funds in the week ending Wednesday as equity funds saw their biggest inflows in nine weeks. Based on EPFR data, Bank of America concluded that equity funds attracted $23.9 billion, while bond funds attracted …

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• 20 August 2021 3:58 pm

  Saudi Arabia Remains China’s Largest Oil Supplier in July

  

  Saudi Arabia remained the largest supplier of crude oil to China for the ninth consecutive month in July, but its shipments of crude fell 10% on a monthly basis, while shipments from Russia fell only 4%. According to data from the General Administration of Customs in China, total Saudi shipments …

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• 20 August 2021 3:22 pm

  The Dollar Reaches a Peak of 9 And a Half Months, as Traders Seek Safety

  The US dollar reached a 9-and-a-half month high against its counterparts on Friday, buoyed by concerns that the mutated delta strain of the Coronavirus may delay global economic recovery as central banks begin to roll back pandemic-era stimulus. While moves in the currency markets were much calmer than on Thursday …

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• 20 August 2021 2:43 pm

  Gold Rises as Risk Appetite is Hit by Virus Fears

  

  Gold prices rose on Friday, as growing concerns about the spread of the delta strain of the Coronavirus and its impact on the economic recovery damaged risk sentiment. And gold rose in immediate transactions 0.3% to $ 1785.93 an ounce before the opening of the European stock exchanges, to rise …

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• 20 August 2021 1:49 pm

  Oil is Rising, But it is on Track to Incur a Weekly Loss of 5%

  

  Oil prices stabilized today, moving away from 3-month lows, but still on track for a weekly loss of more than five percent as new lockdowns in countries facing increasing cases of the mutated delta strain of coronavirus dampened the outlook for fuel demand. Investors’ aversion to risks in general also …

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• 20 August 2021 1:10 pm

  European Shares Set For Worst Week in 6 Months on Virus And Growth Fears

  

  European shares halted their decline today, but their main index is still on track to record the worst week since February, due to signs of slowing growth, rising Covid-19 infections, and fears of reducing monetary stimulus earlier than expected. The pan-European Stoxx 600 index rose 0.1 percent, after falling 1.5 …

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• 20 August 2021 12:38 pm

  Nikkei Falls to 8-Month Low on Toyota

  

  The Japanese Nikkei index closed at its lowest level in nearly eight months on Friday, led by the decline in shares of automakers and related sectors due to growing concern about the recovery after Toyota cut its global production. The Nikkei index fell 0.98 percent to close at 27,013.25 points, …

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• 20 August 2021 4:47 am

  Could Ethereum Be The No.1 Cryptocurrency?

  

  Bitcoin was the first cryptocurrency and remains the biggest in terms of market capitalization, however, some market experts now believe that Ethereum (Ether) with its recent surge could one day overtake the number one spot. Ethereum will continue to outperform Bitcoin, said Nigel Green the head of a financial institution, …

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• 20 August 2021 4:11 am

  GBP/USD Logs Worst Loss in Two Months Settles at Lowest Level in a Month

  

  The British Pound (GBP) declined on Thursday for the fourth consecutive day, maintaining a negative performance against the U.S. Dollar (USD) since the beginning of the week. The GBP/USD lost 0.82%, its biggest daily loss since June 18, to reach 1.3641, its lowest level since July. Month-to-date the pair is …

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• 20 August 2021 4:04 am

  Norway to Raise Interest Rates Next Month

  

  The Central Bank of Norway plans to begin tightening its monetary policy as soon as next month. The Norges Bank plans to raise interest rates in September after the Norwegian economy showed more signs of a rebound with the ease of coronavirus lockdown restrictions. As the bank decided to maintain …

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