Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 23 August 2023 4:50 pm

  Jackson Hole: Market overreacts?

  

  US equities are trading higher on Wednesday as lower 10-year US Treasury yields aid long-term technology sectors thrive. The 10bps drop in 10-year yields is likely due to investors dialling back some of the recent build-up in growth expectations that saw yields climb to the highest levels since the Great …

  Read More »
• 23 August 2023 3:20 pm

  UK Preliminary Services PMI enters contraction with 48.7 in August

  

  The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) fell further in August to 42.5 from 45.0 predicted and 45.3 in July. Meanwhile, the Preliminary UK Services Business Activity Index fell to a seven-month low of 48.7 in August, compared to a final print of 51.5 in July …

  Read More »
• 23 August 2023 2:02 pm

  European stocks open higher supported by mining and healthcare companies

  

  European stocks opened higher on Wednesday, as mining stocks led gains thanks to higher metal prices, while Swiss pharmaceutical Roche supported health care stocks. And by 0707 GMT, the European Stoxx 600 index rose 0.4 percent. Mining stocks rose 0.9 percent as prices of most industrial minerals rose. Roche shares …

  Read More »
• 23 August 2023 12:39 pm

  Oil rises as markets assess the prospects of interest rate hikes and weak Chinese demand

  

  Oil prices rose on Monday as global supply tightened due to reduced exports from Saudi Arabia and Russia outweighed concerns about global demand growth amid high interest rates. And by 0301 GMT, Brent crude oil prices rose 75 cents to 85.55 dollars a barrel. West Texas Intermediate crude rose 80 …

  Read More »
• 23 August 2023 6:14 am

  Market Drivers – US Session, August 22

  

  The first indication of economic activity in August will come from the Global PMIs, which will also include housing data from the US, data on Q2 retail sales from New Zealand, and data on retail sales from Canada. After Monday’s decline, Asian equities have recovered, but caution is still in …

  Read More »
• 23 August 2023 5:10 am

  BRICS leaders in Johannesburg challenge Western dominance

  

  Financial markets are now focused on the beginning of the three-day BRICS meeting in South Africa. To begin the three-day BRICS summit, leaders and senior officials from five of the largest rising economies in the world met in Johannesburg on Tuesday. Brazil, Russia, India, China, and South Africa make up …

  Read More »
• 23 August 2023 2:43 am

  Gold’s chance to rebound looks weak ahead of Jackson Hole

  

  Gold price was edging upward during the US trading session, despite the US Dollar’s strength. The rise and challenging XAU/USD price are supported by high US Treasury bond yields and a lack of support for depolarization among the BRICS bloc. Friday’s Jackson Hole Symposium is looked upon as the key …

  Read More »
• 23 August 2023 1:24 am

  US, China in talks on challenges facing American businesses

  

  Before her journey to China the next week, US Commerce Secretary Gina Raimondo met with the Vice Foreign Minister and Chinese Ambassador late on Tuesday and had a “productive discussion.”US Commerce Secretary Raimondo also emphasized the significance for US businesses and workers while describing the meeting’s specifics.The news also states …

  Read More »
• 22 August 2023 11:42 pm

  GBP/USD experiences losses amid risk aversion

  

  The GBP/USD pair experienced a 0.12% loss due to high US Treasury bond yields and global trade apprehensions. US Existing Home Sales dropped 2.2% in July, with limited inventory and high mortgage rates cited as causes. The Richmond Fed’s Manufacturing Index met expectations with -7, while the Services Index surprised …

  Read More »
• 22 August 2023 10:57 pm

  USD/CHF advances as markets await a fresh catalyst

  

  Around 0.8800, the USD/CHF pair displays modest increases. Since early August, the price of the pair has been moving sideways. Thomas Barking of the Fed made some pessimistic remarks that helped the USD.Investors are anticipating Powell’s remarks on Friday and the US August PMIs on Wednesday. On Tuesday, the USD/CHF …

  Read More »
• 22 August 2023 9:28 pm

  What can surplus jump tell about Eurozone’s economy?

  

  In June 2023, the Eurozone’s current account surplus reached €36 billion, a significant increase from €8 billion. This increase was attributed to surpluses in goods, services, and primary income, with a slight deficit in secondary income.However, the 12-month overview showed a minor deficit of €9 billion, compared to a significant …

  Read More »
• 22 August 2023 8:47 pm

  US stocks gain with Nvidia in spotlight

  

  Early on Tuesday, the US stock markets were expected to begin higher thanks to expectations that chipmaker Nvidia would increase its gains ahead of its earnings announcement on Wednesday. Following reaching their greatest level in over 16 years, benchmark Treasury yields decreased.Futures for the Dow Jones Industrial Average increased by …

  Read More »
• 22 August 2023 7:43 pm

  Fed’s Barkin: Won’t prejudge outcome of Fed’s September policy meeting

  

  Thomas Barkin, President of the Federal Reserve Bank of Richmond has emphasized the need for the Fed to be open to the possibility of the US economy reaccelerating rather than slowing, which could have implications for the central bank’s inflation fight. The US Dollar Index clings to daily gains above …

  Read More »