Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 30 August 2023 1:33 am

  Market Divers – US Session, August 29

  

  The US Dollar Index dropped by the most since more than a month. Although the US Dollar fall is set to continue, the direction will depend heavily on incoming US data. On Wednesday, the ADP private employment report and another estimate of Q2 GDP growth will be released. Consumer inflation …

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• 30 August 2023 12:47 am

  Why do financial markets expect less hawkish Fed?

  

  According to the US Bureau of Labour Statistics, there were 8.827 million job opportunities in July, far fewer than the predicted 9.465 million, while consumer confidence declined. The probability of a Fed rate hike in September has decreased to just 13.5%, according to the CME FedWatch Tool, while the probability …

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• 29 August 2023 11:40 pm

  Iconic US Retail Chain Filing bankruptcy

  

  Due to its $3.3 billion debt and probable lawsuits regarding opioid prescriptions, American iconic retail chain Rite Aid is getting ready to apply for Chapter 11 bankruptcy protection. The firm has had difficulties throughout its history, with rivals including Bed Bath & Beyond, Tuesday Morning, and Christmas Tree Shops faltering …

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• 29 August 2023 10:49 pm

  US stocks climb on August dip activity

  

  In the final days of a typically challenging August for the stock market, investors flocked back to tech stocks, driving the Nasdaq Composite Index up by more than 1% on Tuesday. The Dow Jones Industrial Average gained 258 points or 0.7% and the S&P 500 increased by 1.4%.The tech-focused Nasdaq …

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• 29 August 2023 9:47 pm

  Sterling strongly recovers as investors hope for next BoE’s hike

  

  The pound Sterling has recovered as investors await the BoE’s 25 basis point interest rate hike to neutralize the Federal Reserve-BoE divergence. However, the GBP/USD pair’s revival faded as further policy tightening by the BoE will dampen the economic outlook. The UK’s restrictive monetary policy has widened its scope to …

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• 29 August 2023 8:52 pm

  Gold celebrates softer US economic data

  

  Gold and silver prices rose during Tuesday’s lunchtime US trading session, with gold reaching a three-week high and silver reaching a four-week high. Fresh purchasing activity in the precious metals was sparked by reports on the consumer confidence index and the US jobs turnover data (JOLTS), both of which were …

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• 29 August 2023 7:46 pm

  BNB coin jumps by over 5% in 24 hours

  

  The price of BNB/USD increased by 5.91% to $231.33 over the previous day. This maintains the upward path it has been on for the previous week, rising 13.0% from $205.67 to the present price. The current value of the coin is $686.31, which is its all-time high.The coin’s trading volume …

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• 29 August 2023 4:13 pm

  Sterling edges higher as traders await steer from Bank of England

  

  The pound ticked higher against the dollar and euro on Tuesday as traders await comments by Bank of England Chief Economist Huw Pill later this week for more direction on the central bank’s next move. Sterling was up 0.10% at $1.2614 at 1000 GMT. It was 0.13% higher against the …

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• 29 August 2023 3:03 pm

  Flight chaos to last for days after air traffic control fault

  

  Britain’s Transport Secretary Mark Harper said it would take days to solve widespread flight disruption to and from the country after air traffic control systems suffered a technical problem. Authorities canceled more than 1,500 flights on Monday, one of the busiest days of the week in the country, after air …

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• 29 August 2023 1:25 pm

  Dollar is stable ahead of a busy week of data and yen is under pressure

  

  The dollar fell on Tuesday, after a strong rally, amid dealers’ reluctance to make big bets ahead of a series of expected economic data this week, while the Japanese yen fell to close to the levels that led the authorities to intervene to support it last year. The dollar fell …

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• 29 August 2023 12:27 pm

  Gold rose on retreating US dollar, T-yields before key data

  

  Gold prices rose on Tuesday as a recent decline in the dollar and Treasury yields showed signs that the economy was overheating, ahead of crucial inflation and jobs data this week that could determine the future of interest rates. And by 0645 GMT, spot gold rose 0.2 percent to $ …

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• 29 August 2023 11:15 am

  Oil is falling amid concerns about demand

  

  Oil prices fell on Tuesday amid fears that further potential interest rate hikes in the US would lower demand, outweighing concerns that a tropical storm off the US Gulf Coast could affect supplies. And by 0640 GMT, Brent crude fell 19 cents, or 0.2 percent, to $ 84.23 a barrel, …

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• 29 August 2023 1:25 am

  Shadow lending threatens China’s financial system

  

  As the first Chinese trust to fall in more than 20 years, Chinese lender Xinhua Trust is selling shares at outrageously cheap prices after declaring bankruptcy in May. Since then, the corporation has listed some of its assets on Taobao for sale at a 30% discount, and only recently added …

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