Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 10 August 2023 10:27 pm

  US budget deficit hitting $1.6 trillion so far in current fiscal year

  

  According to the Treasury Department, the US government budget deficit reached $1.6 trillion during the first ten months of the current fiscal year. 4.110%According to the Treasury Department’s report released on Thursday, the federal budget deficit increased by more than twice as much in the first ten months of fiscal …

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• 10 August 2023 9:41 pm

  WTI retreated below the $83.00 post soft CPI data

  

  Soft inflation figures from the US and weaker US dollar contribute to limiting crude oil’s losses. Eyes now are focusing on the Fed speaker later during the US trading session. WTI’s outlook remains positive amid reports suggesting tighter global supplies.On Thursday’s session, the WTI crude saw more than 1% losses …

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• 10 August 2023 8:27 pm

  Moody’s warning revisited as a wake-up call for optimistic banking investors

  

  The decline in US bank stocks this week astonished options traders and drove them to wonder whether bank investors have grown too accustomed to the crisis-hit industry. Several US regional lenders had their credit ratings reduced by Moody’s, and some of the world’s largest banks were under scrutiny for a …

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• 10 August 2023 7:41 pm

  Fed’s Daly: US July CPI is a “good data point”

  

  Federal Reserve Bank of San Francisco President Mary C. Daly said on Thursday that today’s Consumer Price Index report was “good news” for families and businesses in an interview with Yahoo! Finance. She mentioned that they are committed to getting core inflation down. The US Dollar Index is falling on …

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• 10 August 2023 4:14 pm

  European stocks are rising thanks to shares of insurance companies and personal and household goods

  

  European stocks rose on Thursday as investors received a batch of corporate earnings reports while they awaited US inflation data that is likely to determine the course of the Federal Reserve’s monetary policy. The pan-European Stoxx 600 index rose 0.4 percent by 0707 GMT, after rising to a one-week high …

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• 10 August 2023 3:19 pm

  The Russian ruble fell to the lowest level in 16 months against the dollar

  

  The Russian ruble fell by more than two percent against the dollar on Tuesday, to its lowest level in more than 16 months, above 97, due to strong domestic demand for foreign currency. The ruble recovered on Monday to post intraday gains for the first time in August, but gave …

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• 10 August 2023 1:59 pm

  The unemployment rate in Türkiye rose to 9.6% in June

  

  Official data showed on Thursday that Turkey’s unemployment rate rose 0.1 percentage point month-on-month to 9.6 percent in June, while the underutilization rate of the labor force, after adjusting for seasonal factors, rose 1.7 percentage points to 24.2 percent. The workforce underutilization rate has decreased significantly since 2021, but has …

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• 10 August 2023 1:03 pm

  Gold near its lowest level in a month

  

  Gold prices hovered near a one-month low on Thursday, as investors awaited US inflation data that could determine the path the Federal Reserve will take on interest rates going forward. Gold increased 0.2 percent in spot transactions to $ 1,918 an ounce by 0337 GMT, but it is hovering near …

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• 10 August 2023 11:42 am

  Oil is falling amid anticipation of inflation data in America and fears of demand

  

  Oil prices fell on Thursday, after hitting multi-month highs in the previous session, as rising crude inventories in the United States and weak economic data from China added to concerns about global fuel demand. Brent crude fell nine cents, or 0.1 percent, to $87.46 a barrel by 0408 GMT, after …

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• 10 August 2023 2:35 am

  Market Drivers – US Session, August 09

  

  The Italian Ministry of Finance announced that it will cap the tax on net interest income on the most vulnerable assets at 0.1%. The markets received this official announcement with a positive response after investors in the banking sector stocks in the country saw that it comes within the framework …

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• 10 August 2023 1:41 am

  GBP/USD retreats ahead of US inflation, British GDP

  

  With important UK GDP statistics due on Friday, the Pound Sterling experiences little trading and continues to move below the 50-day EMA around 1.2724. The Bank of England’s attitude, meantime, is under pressure as market chances point to a rate hike in September at 85%, with the Bank Rate possibly …

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• 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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