Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 15 August 2023 8:31 pm

  Home Depot’s earnings beat market estimates

  

  Dow Jones hardware heavyweight Home Depot reported Q2 results early Tuesday. Rival Lowe’s will announce earnings on August 22. HD stock rose early Tuesday. LOW stock is attempting to reclaim technical support.Homebuilders, a key market for hardware and home improvement retailers, rallied aggressively in 2023. Rising interest rates have slowed …

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• 15 August 2023 7:57 pm

  Fed’s Kashkari: Inflation is still too high

  

  Minneapolis Federal Reserve President Neel Kashkari said noted on Tuesday that he is feeling good about the progress on inflation but added that it was still too high, per Reuters.“The question is, have we done enough, or do we need to do more,” Kashkari added said that they have been …

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• 15 August 2023 3:57 pm

  Unemployment in Britain rose to 4.2% in the second quarter of 2023

  

  The UK unemployment rate rose to 4.2% in the second quarter of 2023, the highest level since late 2021 and above market expectations and the previous level of 4%. This rise was supported by the number of unemployed persons for a period of up to 6 months. The rate of …

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• 15 August 2023 2:45 pm

  German ZEW Economic Sentiment Index improves to -12.3 in August

  

  According to the German ZEW headline figure, the Economic Sentiment Index improved to -12.3 in August from -14.7 in July. This number was higher than the -14.4 predicted by the market. Similarly, the Eurozone Economic Sentiment Index increased to -5.5 from -12.2 during the same period. On the negative side, …

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• 15 August 2023 2:44 pm

  European stocks fell under pressure from the decline in real estate stocks

  

  European stocks opened slightly lower on Tuesday, as declines in real estate stocks amid higher bond yields offset gains in retail stocks, led by British department store Marks & Spencer, which raised its profit forecasts. And by 0720 GMT, the European Stoxx 600 index fell 0.1 percent, with real estate …

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• 15 August 2023 1:06 pm

  The Russian Central Bank raises interest rates by 350 basis points at an extraordinary meeting

  

  Russia’s central bank raised interest rates by 350 basis points, to 12 percent, on Tuesday, in an emergency move aimed at trying to halt the ruble’s slide below 100 against the dollar after the Kremlin’s public call for tightening monetary policy. The convening of the extraordinary meeting of the Central …

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• 15 August 2023 12:03 pm

  Nikkei closes higher, boosted by gains on Wall Street

  

  japanese-yen

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• 15 August 2023 4:56 am

  Market Drivers – US Session, August 14

  

  The US Dollar Index closed over 103.15, marking its highest daily close in almost a month. It did, however, finish well below the intraday high, indicating that it may consolidate over the coming hours.US Treasury yields continue to provide a significant support for the dollar. Both the 10-year yield and …

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• 15 August 2023 1:08 am

  Nvidia surge leads Megacap gains as US Indexes close higher

  

  Following an optimistic note from Morgan Stanley, shares of chipmaker Nvidia rose, helping the S&P 500 and Nasdaq close higher. As investors awaited the earnings results from US retailers, this caused other Megacap growth stocks to increase. The information technology index increased thanks to Nvidia’s gain, making it the strongest …

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• 14 August 2023 11:44 pm

  EUR/GBP declines ahead of key British economic data

  

  The EUR/GBP pair has declined for a second consecutive day, falling towards 0.8605. The Eurozone’s preliminary Q2 GDP report is set to be released on Wednesday, and no relevant data releases will feature on Monday’s economic calendar. The Office for National Statistics will release key labour market data on Tuesday, …

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• 14 August 2023 10:34 pm

  Gold price around five-week low ahead of awaited US Retail Sales

  

  Because of the US dollar’s strength and surging US Treasury bond yields, the price of gold has continued to perform worse. Because of higher rental prices, inflation increased steadily at a rate of 0.2% in July. In September, the Fed is anticipated to leave interest rates steady. The precious metal …

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• 14 August 2023 9:18 pm

  Forecast by six major banks on looming UK CPI

  

  Economists and analysts of six big banks contributed their forecast regarding the impending UK inflation print. The UK will release the Consumer Price Index (CPI) data on Wednesday, August 16 at 06:00 GMT.Headline is predicted to be 6.8% year-over-year, down from the reading of 7.9% in June. If so, the …

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• 14 August 2023 8:44 pm

  After touching 17-month low, will Russian central bank save the ruble?

  

  As Moscow raised military spending and Western sanctions put pressure on its energy exports, the value of the Russian currency dropped to its lowest level since the early days of the Ukraine conflict. As a result, the Russian central bank announced that it will hold an emergency meeting to review …

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