Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 30 August 2023 10:39 pm

  AUD/USD threatens 0.6500 as the US labour market softens

  

  The AUD/USD pair increased at 0.6490 and then held above the 0.6473 20-day SMA. At the time of writing, it is trading at 0.6474. Investors wager on a less aggressive Fed because the US labour markets are still weak. US bond yields hit a three-week low.The AUD/USD gained momentum on …

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• 30 August 2023 9:33 pm

  US stocks surge as recent data refuels hopes on Fed’s pause

  

  The major Wall Street indexes rose on Wednesday as new economic data revealed a slowing US economy, maintaining predictions that the Federal Reserve will hold off on raising interest rates in September. In August, private payrolls expanded by 177,000 jobs, versus predictions of 195,000, according to the ADP National Employment …

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• 30 August 2023 8:48 pm

  Bitcoin traders favour caution ahead of PCE data

  

  As traders look forward to the release of US Core PCE Price Index data on August 31, the price of bitcoin is fluctuating around $28,000. It is trading exactly at $27,247 at the time of writing. According to the general view, Core PCE inflation will increase by 0.1% and register …

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• 30 August 2023 7:36 pm

  Sterling soaring on accelerating hawkish BoE bets

  

  Investor expectations that the following policy divergence between the Fed and the BoE will end have given the British pound a boost. Investors continue to support the GBP/USD pair as they anticipate further interest rate increases from the BoE. The UK’s manufacturing industry and real estate market have suffered greatly …

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• 30 August 2023 4:44 pm

  US private sector employment rises 177,000 in August

  

  According to data released on Wednesday by Automatic Data Processing (ADP), private-sector employment in the United States increased by 177,000 in August. This result came in below the market expectation of 195,000 and following a 371,000 increase (revised from 324,000) in July. “Job stayers saw a year-over-year pay increase of …

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• 30 August 2023 3:33 pm

  US: Real GDP grows at an annual rate of 2.1% in Q2

  

  The US economy grew at an annual pace of 2.1% in the second quarter, falling short of the earlier estimate of 2.4%. According to the Bureau of Economic Analysis, “the updated estimates primarily reflected downward revisions to private inventory investment and nonresidential fixed investment, which were partially offset by an …

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• 30 August 2023 2:30 pm

  Indian Oil Minister: We will buy oil from all sources that provide it “at the lowest possible prices”

  

  India’s Oil Minister, Hardeep Singh Puri, told the media that his country would buy oil from all available sources at the “lowest possible prices”. India has been buying crude oil from Russia, now its biggest supplier, at discounts since the West imposed restrictions on imports from Moscow following its invasion …

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• 30 August 2023 1:33 pm

  European stocks rise with support from insurance companies

  

  European stocks rose at the open on Wednesday after positive results from Prudential Insurance supported the sector index, while investors awaited more important data to assess the strength of the economy in the region. By 0703 GMT, the European STOXX 600 index rose 0.1 percent after rising about 1 percent …

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• 30 August 2023 12:42 pm

  Dollar is recovering as investors await more indicators on the US Central Bank’s path

  

  The US dollar recovered from some of the sharp losses it incurred in the previous session, as investors awaited more data from the labor market for indications of the Federal Reserve’s policy path. The dollar index, which measures the performance of the US currency against a basket of six major …

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• 30 August 2023 11:56 am

  Nikkei closed at the highest level in 3 weeks, supported by bargain hunting and the rise of Wall Street

  

  The Nikkei index closed at a three-week high on Wednesday as investors bought back plunging stocks and a boost from an overnight rally on Wall Street lifted market sentiment. The Nikkei ended the session up 0.33 percent, recording 32,333.46 points, the highest level since August 10, after continuous gains for …

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• 30 August 2023 1:33 am

  Market Divers – US Session, August 29

  

  The US Dollar Index dropped by the most since more than a month. Although the US Dollar fall is set to continue, the direction will depend heavily on incoming US data. On Wednesday, the ADP private employment report and another estimate of Q2 GDP growth will be released. Consumer inflation …

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• 30 August 2023 12:47 am

  Why do financial markets expect less hawkish Fed?

  

  According to the US Bureau of Labour Statistics, there were 8.827 million job opportunities in July, far fewer than the predicted 9.465 million, while consumer confidence declined. The probability of a Fed rate hike in September has decreased to just 13.5%, according to the CME FedWatch Tool, while the probability …

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• 29 August 2023 11:40 pm

  Iconic US Retail Chain Filing bankruptcy

  

  Due to its $3.3 billion debt and probable lawsuits regarding opioid prescriptions, American iconic retail chain Rite Aid is getting ready to apply for Chapter 11 bankruptcy protection. The firm has had difficulties throughout its history, with rivals including Bed Bath & Beyond, Tuesday Morning, and Christmas Tree Shops faltering …

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