Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 23 August 2024 1:26 pm

  Dollar Softens as Markets Await Powell’s Jackson Hole Speech; Yen Gains on Ueda’s Hawkish Remarks

  

  The U.S. dollar weakened on Friday as traders prepared for Federal Reserve Chair Jerome Powell’s upcoming speech at the Jackson Hole symposium. Meanwhile, the Japanese yen led gains among major currencies after Bank of Japan (BOJ) Governor Kazuo Ueda reaffirmed his commitment to raising interest rates if inflation continues to …

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• 23 August 2024 12:45 pm

  Japan’s Core Inflation Rises in July, But Slowing Demand Growth May Complicate BOJ’s Rate Decisions

  

  Japan’s core inflation rate accelerated for the third consecutive month in July, according to data released on Friday, raising challenges for the Bank of Japan (BOJ) as it considers future interest rate hikes. The nationwide core Consumer Price Index (CPI), which excludes volatile fresh food items, rose 2.7% year-on-year, slightly …

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• 23 August 2024 12:30 pm

  European Shares Hold Steady as Investors Await Powell’s Speech

  

  European shares were largely flat on Friday as investors adopted a cautious stance ahead of a crucial speech by Federal Reserve Chair Jerome Powell, scheduled for later in the day. The pan-European STOXX 600 index edged up 0.1% to 516.28 points by 0709 GMT, maintaining gains after hitting its highest …

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• 23 August 2024 11:54 am

  Gold Prices Edge Higher Amid Market Caution Ahead of Powell’s Speech

  

  Gold prices rose in Asian trading on Friday, recovering slightly from a steep drop in the previous session. The yellow metal remained supported by cautious sentiment as markets awaited an important address by Federal Reserve Chair Jerome Powell later in the day, which is expected to provide more clarity on …

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• 23 August 2024 2:39 am

  Market drivers; US Session, August 22

  

  The US Dollar rebounded from its 2024 lows on Thursday as risk sentiment weakened. Rising US Treasury yields also supported the Greenback, ahead of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole.Key Economic Events Federal Reserve Chair Powell’s Speech: The speech will provide insights into the Fed’s monetary policy …

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• 23 August 2024 2:20 am

  Explainer: Are markets facing a looming debt crisis?

  

  The United States, burdened by a staggering $28 trillion national debt, is facing a looming fiscal crisis. The increasing interest payments on this colossal debt, now surpassing defense spending, are a stark indicator of the nation’s precarious financial position. This escalating debt burden is a bipartisan legacy, with both recent …

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• 23 August 2024 1:31 am

  Gold Price Retreats Amid Rising US Yields

  

  Gold prices retreated from a record high of $2,531 as US Treasury yields rose, with the 10-year note up 6.5 basis points to 3.865%. This decline occurred despite dovish signals from the Federal Reserve.Gold prices declined amid rising US Treasury yields and a stronger US Dollar. While the Federal Reserve …

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• 23 August 2024 12:35 am

  Why Do Markets Eagerly Await Powell’s Hints At Jackson Hole?

  

  Fed Chair Jerome Powell is scheduled to deliver his most important speech of the year, raising concerns that the Fed may have delayed relieving pressure on the economy. In July, following the central bank’s decision to maintain interest rates, Fed Chair Jerome Powell addresses reporters at a news conference. Most …

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• 22 August 2024 11:07 pm

  The Dow’s Retreat: A Precursor to Powell’s Speech

  

  The Dow Jones Industrial Average experienced a significant pullback on Thursday, August 22, 2024, as investors braced for Federal Reserve Chair Jerome Powell’s highly anticipated speech at the Jackson Hole Economic Symposium. The broader market, including the S&P 500 and Nasdaq Composite, also suffered losses, driven by rising bond yields …

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• 22 August 2024 9:34 pm

  Oil Jumps Over 1.5% Following Saudi Arabia’s Export Slump

  

  Oil prices experienced a significant uptick on Thursday, August 22, as Saudi Arabia reported a substantial decline in its oil exports for the month of June. This marked the lowest export revenue for the country in three years, prompting fears of further OPEC intervention to stabilize the market. WTI is …

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• 22 August 2024 8:57 pm

  GBP/USD Remains Below 1.3100 Amid Fed Rate Cut Uncertainty

  

  The Pound Sterling struggled to gain momentum against the U.S. Dollar on Thursday, despite positive UK economic data. The GBP/USD pair hovered just below 1.3100, suggesting that investors remain cautious about further gains due to uncertainty surrounding the Federal Reserve’s interest rate policy.A break above 1.3100 could lead to a …

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• 22 August 2024 11:57 am

  German Business Activity Contracts Sharply in August, Deepening Economic Concerns

  

  Germany’s business activity continued to shrink in August, marking the second consecutive month of contraction and signaling deepening challenges for the eurozone’s largest economy. A preliminary survey released on Thursday revealed that the downturn was more severe than economists had anticipated. PMI Index Highlights Economic Struggles The HCOB German flash …

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• 22 August 2024 11:32 am

  Oil Prices Drop for Fifth Consecutive Session Amid Global Demand Concerns

  

  Oil prices continued their downward trend on Thursday, marking the fifth consecutive session of declines as investors grew increasingly concerned about the global demand outlook, despite a recent decline in U.S. fuel inventories. Price Movements and Statistics Brent crude futures slipped by 10 cents to $75.95 per barrel, while U.S. …

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