Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 10 August 2023 12:19 am

  US oil inventory surges while Australia’s strike triggers LNG price jump

  

  US oil inventories surged in the week ending August 4, with crude oil inventories increasing by 5.851 million barrels, surpassing market expectations of -17.049 million barrels. Gasoline stocks declined by -2.661 million barrels, while oil derivatives and products inventories fell by -1.706 million barrels. The US production rate of oil …

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• 9 August 2023 11:49 pm

  EUR/GBP recovers amid stronger Euro

  

  The EUR/GBP pair recovered and keeps rising near 0.8630, seeing nearly 0.40% gains. The Euro is one of Wednesday’s top performers amongst its rival currencies.No relevant data will be released for either economy. Tightening expectations of BoE and ECB to dictate the pace. At the middle of the week, the …

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• 9 August 2023 10:57 pm

  Gold price is testing three-month low ahead of CPI data

  

  Following a brief bounce ahead of the key inflation data in the United States, looming CPI figure, gold price is under selling pressure. For additional direction, investors await US inflation data. The price of the precious metal, which is currently selling at $1917.71, has decreased by almost -0.40%. The price …

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• 9 August 2023 9:53 pm

  US CPI Preview: Forecasts by 10 major banks

  

  The US Bureau of Labour data will publish the US Consumer Price Index data, the most important measure of inflation, on August 10 at 12:30 GMT. As the publication date draws near, these are the forecasts given by the economists and experts of 10 major banks regarding the upcoming July …

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• 9 August 2023 8:59 pm

  Disney’s earnings slump on streaming concerns

  

  Big media firms have a conundrum, as evidenced by Disney’s quarterly earnings report: traditional TV still makes money but is losing ground, while streaming is expanding but remains unprofitable. In the third fiscal quarter, adjusted earnings per share decreased to $1.03, a 6% decrease from the same quarter the previous …

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• 9 August 2023 7:55 pm

  US stocks slide ahead of CPI data

  

  The tech-heavy Nasdaq and S&P 500 fell on Wednesday due to dovish comments by US Federal Reserve officials. Megacap growth and technology stocks, like Nvidia, Apple, and Tesla, shed between 0.6% and 2.5% in early trading. However, there has been some improvement in the Nasdaq, which coincides with profit taking …

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• 9 August 2023 4:59 pm

  Oil prices are rising amid concerns about Chinese demand

  

  Oil prices rose on Wednesday as lower supply as a result of production cuts by Saudi Arabia and Russia offset concerns about slowing demand from China, the world’s largest crude importer, and a report showing an increase in US crude inventories. And state media reported that the Saudi cabinet confirmed …

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• 9 August 2023 3:41 pm

  China is entering a period of price deflation

  

  China’s consumer sector entered a period of deflation and producer prices continued to decline in July as the world’s second-largest economy struggled to revive demand and pressure mounted on Beijing to take more direct stimulus measures. Concern is mounting that China is about to enter a period of sharp slowdown …

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• 9 August 2023 3:40 pm

  European stocks rebound after Italy softened its position on the bank tax

  

  European stocks rose on Wednesday as Italian bank stocks recovered from heavy losses incurred in the previous session after the government softened its position on a new tax on banks. The Stoxx Europe 600 index rose 1 percent by 0705 GMT, touching its highest level in a week. The euro …

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• 9 August 2023 1:08 pm

  Gold is rising from its lowest level in a month as dollar and bonds fall

  

  Gold prices rose on Wednesday from a one-month low hit in the previous session as the dollar and bond yields fell, a day before US consumer price data could provide clues about the path to raising interest rates. And by 0644 GMT, spot gold rose 0.3 percent to $ 1930.37 …

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• 9 August 2023 12:13 pm

  Oil prices are falling due to Chinese data fueling concerns about demand

  

  Oil prices fell in early trading on Wednesday, as concerns about slowing demand from China, the largest crude importer, increased after negative trade data, outweighing concerns about shrinking global supply in light of production cuts from Saudi Arabia and Russia. Brent crude futures fell 17 cents, or 0.2 percent, to …

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• 9 August 2023 4:25 am

  Market Drivers – US Session, August 08

  

  Financial markets are anxiously awaiting data on Chinese inflation during the Asian session, details on New Zealand’s electronic card retail sales, and expectations for the third quarter’s inflation rate from the Reserve Bank of New Zealand.Among the upcoming figures for Japan are machine tool orders for July. Due to lower …

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• 9 August 2023 1:01 am

  GBP/USD falls on global economic growth woes

  

  Due to worries about both the Chinese economic recovery and the expansion of the global economy, the GBP/USD decreased by 0.36%, remaining below the 1.2800 mark. The US dollar (USD) has been a steadfast advocate for rate stability, despite Michelle Bowman of the Fed’s push for additional rate increases. Negative …

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