Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 3 August 2021 11:38 am

  Societe Generale’s Quarterly Profit Beats Expectations

  

  France’s Societe Generale reported a net income of 1.44 billion euros (about $1.71 billion) for the second quarter of the year, buoyed by a recovery in retail banking in France. Analysts had expected a net profit of 704 million euros for the three-month period, according to Refinitiv data. The latest …

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• 3 August 2021 11:15 am

  Italy Records a Surplus of 5.7 Billion Euros in July

  

  Italy posted a public budget surplus of 5.7 billion euros ($6.77 billion) in July, compared to a deficit of 7.2 billion euros in the same month last year, the Treasury said in a statement on Monday. This difference is mainly due to an increase in tax revenue. The Treasury said …

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• 3 August 2021 10:40 am

  Gold Falls in Limited Range Trading Ahead of US Jobs Data

  

  Gold prices fell, moving in a narrow range, as investors held off making big bets focusing on important US jobs data due later in the week, a key indicator of the US Federal Reserve’s stance on policies ahead. And gold fell in spot transactions 0.1 percent to $ 1810.92 an …

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• 3 August 2021 7:36 am

  Yellen Lowers Borrowing Estimates as Debt Ceiling Expires

  

  U.S. Treasury Secretary Janet Yellen is working to avoid default after Congress failed to extend the suspension of the debt ceiling. Yellen told Congress that the department is taking extra steps to ensure this, expressing in a written letter to lawmakers that resolving the issue would be the better choice. …

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• 3 August 2021 7:21 am

  Fed’s Waller Expects Tapering to Begin Next Month

  

  The United States Federal Reserve might begin cutting back the massive asset purchases as early as October, Governor Christopher Waller told CNBC in an interview on Monday. “In my opinion, that’s substantial progress and I think you could be ready to do an announcement in September.” Waller thinks it all …

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• 3 August 2021 6:35 am

  Third of New COVID Cases in U.S. Come from TWO STATES!

  

  One out of every three new cases infected with the novel coronavirus (COVID-19) in the United States were in Florida and Texas last week, according to a Biden administration counselor. Jeff Zients, White House Coronavirus Response Coordinator, told reporters in a press briefing on Monday that 17% of cases were …

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• 3 August 2021 5:48 am

  NYSE Finishes Lower Reversing Earlier Gains

  

  The New York Stock Exchange (NYSE) finished Monday mostly in losses, erasing earlier gains amid worries about recovery from the coronavirus pandemic, with the rising number of infections with the new Delta variant, especially after the PMI showed slower expansion in U.S. economic activity last month. The Dow Jones Industrial …

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• 3 August 2021 4:50 am

  Oil Snaps Three-Session Rising Streak with Large Losses

  

  Oil prices closed lower on Monday, amid increased concerns about the pace of economic recovery from the coronavirus pandemic with the rising number of infections with the new Delta variant, especially after indicators showed slower growth in activity in the U.S. and China last month. PMI readings in the world’s …

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• 3 August 2021 1:38 am

  Gold Closes Higher as USD and Treasury Yields Fade

  

  Gold prices finished higher on Monday as the U.S. Dollar (USD) declined across the board with Treasury bond yields falling to their lowest level in about six months. The yellow metal remains supported by the mixed economic data are concerns over the spread of the novel coronavirus Delta variant. Gold …

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• 2 August 2021 9:02 pm

  European Stocks Hit New Record High

  

  An improvement in investors’ sentiment helped European stocks finish at a new record level on Monday, opening the first session of August with a positive performance after gaining about 2% in July. The STOXX Europe 600 index closed higher by 0.59% at a new record high of 464.45 points. Gains …

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• 2 August 2021 8:50 pm

  USD Extends Losses After PMI Reading

  

  The U.S. Dollar (USD) is maintaining a downward trend on Monday, opening the week with a negative performance across the board. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.18% at 92. Earlier today, the index touched a daily …

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• 2 August 2021 7:48 pm

  U.S. Construction Spending Rises Modestly in June

  

  Construction spending in the United States increased marginally in June, data by the U.S. Department of Commerce showed on Monday. An increase of 0.1% in June brought construction expenditure to a seasonally adjusted annual rate of $1.55 trillion. The May reading was revised upwards to show a 0.2% decline, versus …

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• 2 August 2021 5:40 pm

  IMF: USD Likely Overvalued by 8.2% With a Range of 5.2% to 11.2% During 2020

  

  In its recently published External Sector Report, the International Monetary Fund noted that they have assessed the US dollar as likely overvalued by 8.2% with a range of 5.2% to 11.2% during 2020, as reported by Reuters.

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