Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 16 August 2024 11:22 am

  Oil Prices Poised for Weekly Gains Despite Friday Dip

  

  Oil prices were on track for a second consecutive week of gains, despite a slight decline on Friday, driven by strong U.S. economic data that fueled optimism about demand in the world’s largest oil-consuming country. Brent crude futures have risen approximately 1.3% this week, while U.S. West Texas Intermediate (WTI) …

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• 16 August 2024 10:01 am

  Gold Prices Slip Slightly Amid Easing Recession Fears and Rate Cut Bets

  

  Gold prices experienced a minor decline in Asian trade on Friday, as reduced recession concerns tempered the demand for safe-haven assets. Despite this, expectations of interest rate cuts kept gold prices close to record highs. Spot gold fell by 0.1% to $2,453.02 an ounce, while gold futures for December delivery …

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• 16 August 2024 5:23 am

  Market Drivers; US Session, August 15

  

  The US Dollar experienced a volatile trading session, closing mixed against major currencies. Positive US economic data, including strong employment and retail sales figures, alleviated recession fears and boosted investor sentiment. While other economic indicators were less favorable, they were insufficient to reignite market concerns or impact expectations for a …

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• 16 August 2024 3:05 am

  China’s Economic Malaise: A Global Ripple Effect

  

  China’s economic engine, which has long been the world’s growth driver, is losing steam. Recent data highlights a deepening slowdown with far-reaching global consequences. The Chinese economy is under increasing strain, with its weakest growth in five quarters. Efforts to bolster consumer spending have yielded disappointing results, and China’s GDP …

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• 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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