Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 16 August 2024 1:26 am

  XAU/USD Steadies Above $2,450 Following US Retail Sales Data

  

  During Friday’s early Asian session, the price of gold remains unchanged at $2,455. US initial jobless claims decreased by 7K to 227K last week; retail sales in July exceeded forecasts, increasing 1.0% MoM. The downward potential of gold may be limited by the growing geopolitical threats in the Middle East. …

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• 15 August 2024 11:51 pm

  US Treasury Yields Soar on Robust Retail Sales Data

  

  US Treasury yields surged on Thursday, buoyed by a surge in market optimism following the release of data highlighting the resilience of the American economy. These positive economic indicators have effectively quelled recent concerns about an impending US recession.Retail sales in the United States experienced a significant uptick in July, …

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• 15 August 2024 10:10 pm

  World’s Largest Oil Platform Built By China

  

  The recent construction of the world’s largest offshore oil platform by China for Saudi Arabia’s Marjan field is a striking testament to the enduring significance of fossil fuels in the global energy landscape. This behemoth, capable of producing millions of barrels of oil daily, stands in stark contrast to the …

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• 15 August 2024 9:08 pm

  Bitcoin’s Wobbly Recovers As Market Uncertainty Persists

  

  Bitcoin’s recent price action has been characterized by volatility and indecision. After a sharp decline of 3.06% in the past 24 hours, the world’s largest cryptocurrency managed to recoup some losses, hovering around the $59,000 level. While short-term technical indicators suggest a potential upward move towards the $60,000 resistance, the …

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• 15 August 2024 7:56 pm

  Gold declines following US Retail Sales Data

  

  Gold price retreated from its intraday high of $2,470 after upbeat US Retail Sales data for July. Traders are widely anticipating the Fed will begin reducing interest rates from September. The July US CPI data boosted confidence that price pressures will return to the desired 2% rate. The US Census …

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• 15 August 2024 6:21 pm

  Fed Official Signals Potential Rate Cut in September

  

  St. Louis Fed President Alberto Musalem has joined a growing chorus of Federal Reserve officials leaning towards a potential interest rate cut at the central bank’s September meeting. In a speech on Thursday, Musalem indicated that the time may be nearing for an adjustment to the benchmark interest rate.The official …

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• 15 August 2024 12:14 pm

  European Shares Climb on U.S. Rate Cut Hopes, Admiral’s Strong Earnings Boost

  

  European shares opened higher on Thursday as favorable inflation data reinforced expectations of a U.S. rate cut in September, while a strong earnings report from insurer Admiral added to the positive market sentiment. By 0710 GMT, the pan-European STOXX 600 index had risen 0.2%, approaching a two-week high and marking …

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• 15 August 2024 10:44 am

  Oil Prices Edge Higher Amid Rate Cut Hopes and Geopolitical Tensions

  

  Oil prices rose on Thursday, bolstered by optimism that potential U.S. interest rate cuts could stimulate economic activity and increase fuel consumption. However, concerns over sluggish global demand limited the gains. By 0348 GMT, Brent crude futures were up 17 cents, or 0.21%, at $79.93 a barrel, while U.S. West …

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• 15 August 2024 4:18 am

  Market Drivers; US Session, August 14

  

  The US dollar weakened again today as continued signs of cooling inflation diminished expectations for further interest rate hikes. The Dollar Index fell to its lowest level in several days as July’s CPI data reinforced the trend of declining inflation.Key economic indicators will be released today in the US, including …

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• 15 August 2024 4:06 am

  Price Outlook: Four factors could push oil higher, including inflation data

  

  Even if oil prices have dropped recently, there are some encouraging signs that can help them rise once again in the near future. The aforementioned factors encompass geopolitical conflicts, global demand, and additional economic conditions-related factors. The negative effect from OPEC’s reduction of its forecasts of global oil demand last …

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• 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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