Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 12 August 2023 3:09 am

  Market Drivers – US Session, August 11

  

  The US Dollar Index kept advancing and rallied for a fourth week in a row. It reached its highest point for the week, close to the 103.00 level, since June. The stock markets didn’t shift much as caution predominated. While continuing its seven-week rising trend, crude oil briefly retraced after …

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• 12 August 2023 2:49 am

  USD/JPY jumps after US inflation data

  

  For the sixth day in a row, the USD/JPY pair has been trading in the green near the 145.00 level. Due to stronger-than-expected US PPI data from July and investor expectations for the Bank of Japan (BoJ) to adopt a more dovish attitude, the dollar is appreciating and the Yen …

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• 11 August 2023 11:04 pm

  Gold closes with weekly losses on China’s slowdown-linked fears

  

  Gold price registered losses for the third straight week, with concerns over China’s economic stability continuing to weigh on the precious metal’s price. Gold failed to build on last Friday’s gains and started the week on a bearish note. Gold is trading at $1912.90 per ounce at the time of …

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• 11 August 2023 10:35 pm

  US stocks mixed as investors digest PPI, consumer sentiment data

  

  Wall Street is mixed as investors analyze inflation and consumer sentiment reports for potential clues about the Fed’s interest rate move. The S&P 500 added 0.4% in the early going, but the benchmark index is still on pace for its second losing week in a row. Most Wall Street traders …

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• 11 August 2023 9:40 pm

  USD/CAD loses ground after hot American PPI data

  

  USD/CAD has lost ground due to hot PPI data from the US, which rose to 2.4% YoY in July. Higher oil prices have helped the Canadian dollar trade strong against most rival currencies. The US dollar is trading mildly stronger due to the hot Producer Price Index (PPI) from July …

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• 11 August 2023 8:38 pm

  Could Biden’s recent comments intensify trade war with China?

  

  China’s economic problems, especially its slow growth, have been referred to as a “ticking time bomb” by US Vice President Joe Biden, who misspoke about the growth rate of the nation. The Chinese foreign ministry has not responded to Biden’s comments, but he did not intend to offend China and …

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• 11 August 2023 7:49 pm

  EUR/USD pressured following solid US PPI data

  

  The EUR/USD pair encountered pressures and experienced losses during the US trading session, reaching 1.0975 from a daily high of 1.1000. US Department of Labour report indicated Producer Price Index (PPI) growth of 0.3% MoM, exceeding expectations, with annual PPI at 0.8%. Core PPI rose by 0.3% MoM.The University of …

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• 11 August 2023 3:11 pm

  Dollar is heading for gains for the fourth week

  

  The dollar was heading for a fourth week of gains on Friday after data showed that inflation did not rise as strongly in the United States as expected in July, which helped boost investor expectations that the Federal Reserve will likely end the current interest rate hike cycle. The rise …

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• 11 August 2023 2:02 pm

  European shares opened lower as US inflation data failed to calm concerns

  

  European stocks fell in early trading on Friday after a wave of gains on Wall Street that was supported by weak inflation data faded, however better-than-expected earnings put the European STOXX 600 on track for a moderate weekly gain. The Stoxx 600 index of European shares fell 0.5 percent by …

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• 11 August 2023 1:11 pm

  Oil prices are falling as investors evaluate Chinese data and the OPEC demand outlook

  

  Oil prices fell slightly on Friday as investors weighed the upbeat demand outlook from the Organization of the Petroleum Exporting Countries (OPEC) and at the same time mixed economic data from China. Brent crude fell 15 cents to $86.25 a barrel by 0515 GMT, while US West Texas Intermediate crude …

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• 11 August 2023 12:13 pm

  The British economy grows more than expected in Q2

  

  Britain unexpectedly posted some growth in the second quarter, supported by a strong performance in June, official data revealed on Friday, but it remains the only one of the world’s largest economies not to return to pre-COVID-19 levels. The economy expanded by 0.2 percent in the second quarter, compared with …

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• 11 August 2023 2:29 am

  Market Drivers Post-CPI Data, US Session, August 10

  

  A spokesperson for Prime Minister Rishi Sunak’s government said Biden’s executive order gave important clarity on the U.S. approach: “The UK will consider these new measures closely as we continue to assess potential national security risks attached to some investments.” The American dollar strengthened on Thursday, supported by higher US …

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• 11 August 2023 12:33 am

  Bitcoin flirts with $30,000 post-CPI data

  

  More traders are expected to purchase Bitcoin at steep discounts as they wait for forward-looking macroeconomic data to indicate a recovery in the cryptocurrency’s price since social volume for Bitcoin has increased over the past 30 days. High inflation rates in a nation increase the value of its currency, whereas …

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