Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 7 August 2023 5:04 pm

  Wall St set to kick off week higher; U.S. inflation in focus

  

  Following a tumultuous week, Wall Street was expected to open higher on Monday, with investors looking ahead to a highly anticipated U.S. inflation report due later in the week, which could put the market’s strong comeback this year to the test. On Friday, the major stock indexes finished the week …

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• 7 August 2023 3:09 pm

  Oil continues its gains and hovers at the highest level in 4 months

  

  Oil prices continued their gains on Monday, August 7, to touch their highest levels since mid-April, after Saudi Arabia and Russia, two of the major oil producers, pledged to continue cutting supplies for another month, aiming to continue balancing global markets and supporting prices. By 00:23 GMT, Brent crude futures …

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• 7 August 2023 2:18 pm

  German Industrial Production falls 1.5% MoM in June

  

  Official data released on Monday showed that industrial production in Germany declined more than predicted in June, indicating that manufacturing sector activity is weakening. The industrial output of the Eurozone’s economic powerhouse fell 1.5% month on month, according to the federal statistics body Destatis, compared to -0.4% predicted and -0.1% …

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• 7 August 2023 1:54 pm

  Eurozone Sentix Investor Confidence Index improves to -18.9 in August

  

  Investor Confidence in the Eurozone rose to -18.9 in August from -22.5 in July, according to Eurozone Sentix. The market expected a result of -23.4. “Germany, in particular, has become the sick man of the Eurozone and is weighing heavily on the region,” Sentix Managing Director Patrick Hussy said in …

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• 7 August 2023 1:21 pm

  European stocks decline as investors await inflation data

  

  European stocks fell Monday, August 7th at a time when investors are assessing the potential impact of a US jobs report on future monetary policy moves in the United States, and they are also anticipating important data on inflation from several countries around the world this week. And by 07:03 …

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• 7 August 2023 12:25 pm

  Japanese Nikkei index reversed the trend and closed higher

  

  Japan’s Nikkei index reversed course to close higher on Monday as investors changed their outlook after local companies posted strong earnings, and Astelas Pharmaceuticals rose after a drug it produces received US approval. The Nikkei index rose 0.19 percent to close at 32,254.56 points, after falling at the beginning of …

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• 7 August 2023 12:13 pm

  Gold rises with the decline of USD and yield on treasury bonds

  

  Gold prices rose Monday, August 7th, after data showing slower-than-expected job growth in the United States negatively affected the dollar and the yield on Treasury bonds, to retreat from high levels they reached recently. Investors are anticipating an inflation test this week that may affect the path of raising interest …

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• 5 August 2023 2:08 am

  US stocks edge lower on NFP’s day, cyberattack news

  

  The Dow Jones Index reversed lower for a loss of 0.4% Friday on reports that a cyberattack hit hospital computer systems across several states. Top gainers in the Dow Jones included Amgen, which jumped on earnings. But Apple was down nearly 5%.The S&P 500 and Nasdaq Composite retreated for a …

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• 5 August 2023 12:18 am

  EUR/USD surges after weak NFP data

  

  The EUR/USD pair has risen above 1.1007, positioning the Euro for a strong finish. The US Nonfarm Payrolls report showed an 187K increase in labor force participation and an unemployment rate of 3.6%, higher than 3.5%. This resilience is a key factor holding inflation at or around 3%, making the …

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• 4 August 2023 11:05 pm

  WTI jumps to multi-month high on weak US dollar

  

  WTI crude has surged to daily high above $83.00 ahead of the weekend for the first time since April. The Saudis’ expected reductions in oil output and the depreciation of the US dollar are mostly to blame for the black gold’s upward trend. Additionally, the daily chart shows that the …

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• 4 August 2023 10:05 pm

  Brazil’s Petrobras Q2 profit dropped on lower oil price

  

  Petrobras retreated -0.5% pre-market Friday after Q2 earnings fell by nearly half from a year earlier on lower oil prices and a sharp drop in international crack spreads for diesel.Q2 net income fell to 28.8B reais (~$5.9B) from 54.3B reais in the year-earlier quarter, and recurring net income, which strips …

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• 4 August 2023 8:39 pm

  AUD extends recovery after NFP data

  

  The Australian dollar has reacted strongly against the US Dollar (USD) on Friday, following Nonfarm Payrolls (NFP) data showing the US added 187K new jobs in July, undershooting estimates of 200K. This data suggests a slowdown in the labor market, which could undermine high inflation and lead to lower interest …

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• 4 August 2023 7:42 pm

  US dollar pressured post NFP data

  

  The US dollar experienced renewed selling pressure after the July jobs report, which showed a 187,000 increase in nonfarm payrolls. The US Bureau of Labour Statistics reported that Nonfarm Payrolls in the US rose 187,000 in July, weaker than the market expectation of 200,000. The US Dollar Index recorded 101.807 …

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