Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 21 August 2021 3:46 am

  Fed’s Kaplan First to Take a Step Back on Tapering

  

  Dallas Fed President Robert Kaplan said on Friday that he could change his mind on scaling back the asset purchases soon due to the spread of the Coronavirus Delta variant, which might slow the economic rebound. So far, it is not having a material effect but it could be having …

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• 21 August 2021 2:54 am

  Wall Street Rebounds but Scores Weekly Loses

  

  The main indices of the New York Stock Exchange (NYSE) rebounded on Friday but Wall Street could not recoup their recent losses to finish the week down after the U.S. Federal Reserve signaled plans to scale back asset purchases possibly before the end of the year. Most market sectors showed …

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• 21 August 2021 2:28 am

  Oil Finishes Third Week in Losses

  

  Oil prices declined on Friday, keeping a downward trend that has so far lasted for seven straight sessions, with the rise of the U.S. Dollar (USD) and fears about the spread of the Coronavirus Delta variant and a possible negative impact on demand recovery. Despite the USD edging lower on …

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• 20 August 2021 11:04 pm

  Gold Maintains Upward Trend for Second Week with Modest Gains

  

  Gold prices settled marginally higher on Friday, maintaining their second consecutive weekly rise despite the U.S. Dollar (USD) maintaining a mostly upward trend with some fluctuations. Gold front-month future contracts for August delivery rose by 80 cents or 0.04% to settle at $1781 an ounce. This marked the first rise …

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• 20 August 2021 10:54 pm

  Europe’s Stocks Log Worst Weekly Performance in Six Months

  

  European stocks rose on Friday but failed to recover from its biggest weekly losses since late February. The STOXX Europe 600 Index added 1.56 points, or 0.33%, in its biggest daily rise since August 11, to close at 468.80 points, snapping a four-week rising streak with a weekly loss of …

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• 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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