Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 15 August 2024 2:12 am

  Cisco cuts 7% workforce by 7%, reports Q3 earnings

  

  Cisco reported its third consecutive quarter of declining revenue, marking its first full fiscal year drop since 2020. The company is cutting 7% of its global workforce, with earnings and revenue topping analysts’ estimates. Cisco announced in a filing that it will implement a restructuring plan that will result in …

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• 15 August 2024 12:12 am

  IS CPI Cooling a Green Light for Fed’s Rate Cut?

  

  The Consumer Price Index Report for July represented the awaited last obstacle to be overcome before the Federal Reserve cuts interest rates in September, just before their most recent meeting. Though even if the CPI figure is on the strong side, weaker-than-expected labour-market data since then indicates a drop is …

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• 14 August 2024 11:44 pm

  Dow Rallies After US CPI Report

  

  Investors may almost be certain that the Federal Reserve will drop interest rates initially next month—perhaps not dramatically. This is based on the most recent inflation data.In the 12 months leading up to July, the consumer price index indicated 2.9% growth in prices, which was less than the 3% forecast …

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• 14 August 2024 10:29 pm

  US inflation hits lowest level in three years

  

  US inflation has hit its lowest level in three years on an annual basis in July, setting the Federal Reserve to cut interest rates soon to take pressure off the economy. This reading was the clearest indication yet that inflation is heading back to normal levels from 40-year highs without …

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• 14 August 2024 8:36 pm

  Oil Prices Fluctuate Amid Middle East tensions

  

  A surprising increase in US commercial crude oil inventories has ignited market speculation as geopolitical tensions simmer in the Middle East. The US Energy Information Administration reported a 1.4-million barrel build in oil stockpiles for the previous week, a stark contrast to the American Petroleum Institute’s estimate of a 5.2 …

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• 14 August 2024 6:58 pm

  US Dollar Declines Following Soft CPI Reading

  

  The US Dollar has seen a slight decline due to lower US inflation, which has dampened its appeal. The softer but in-line CPI figures have given markets reason to feed on a dovish narrative, and markets still anticipate the first rate cut in September. The market’s expectations for the impending …

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• 14 August 2024 1:59 pm

  Japan’s Prime Minister Kishida to Resign Amid Scandals and Public Discontent

  

  Japan’s Prime Minister Fumio Kishida announced on Wednesday that he will step down next month, bowing to public dissatisfaction over political scandals and rising living costs that have overshadowed his three-year tenure. His resignation will trigger a leadership contest within the ruling Liberal Democratic Party (LDP) in September to choose …

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• 14 August 2024 12:12 pm

  UK Inflation Rises in July but Falls Short of Expectations

  

  British consumer price inflation saw its first increase of the year in July, according to official figures released on Wednesday. However, the rise was more modest than anticipated, as the prices for services—a key focus for the Bank of England (BoE)—increased at a slower pace. The annual consumer price inflation …

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• 14 August 2024 10:28 am

  Oil Prices Rise Amid U.S. Inventory Drops and Middle East Tensions

  

  Oil prices climbed on Wednesday, driven by a decline in U.S. crude and gasoline inventories and concerns over potential escalations in the Israel-Gaza conflict that could impact global oil supplies. By 0540 GMT, Brent crude futures had increased by 56 cents, or 0.7%, to $81.25 a barrel. Similarly, U.S. West …

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• 14 August 2024 5:48 am

  

  The US dollar continued its losing streak on Tuesday, marking the third consecutive day of declines. This weakening of the greenback is a direct reflection of the broader risk-on sentiment that has gripped financial markets. As investors digested recent economic data and eagerly awaited the crucial US inflation report, the …

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• 14 August 2024 2:38 am

  A Closer Look on China’s Oil Demand, Latest Outlook by OPEC+

  

  China’s recent dip in oil imports is a puzzle with many pieces. It’s not simply about weaker demand; there’s a bigger story unfolding.For starters, China’s been busy filling its strategic oil reserves. Think of it as a nation stocking up for a rainy day, much like a homeowner preparing for …

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• 14 August 2024 1:49 am

  Fed Official Sees Room for Easing Policy

  

  Raphael Bostic, president of the Federal Reserve Bank of Atlanta, expressed concern about the current tight monetary policy, emphasizing the need for a more accommodative stance in the near future. Bostic also noted that recent inflation data has increased his confidence in the economy’s ability to achieve the 2% inflation …

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• 13 August 2024 11:41 pm

  Gold’s rally could continue on US inflation data

  

  Recent US inflation data released on Tuesday indicated a slower increase in producer prices. This has led to growing expectations that the Federal Reserve will soon lower interest rates. A weaker US dollar, resulting from these expectations, has benefited gold prices.Gold was the biggest winner following the release of the …

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