Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 15 August 2023 1:08 am

  Nvidia surge leads Megacap gains as US Indexes close higher

  

  Following an optimistic note from Morgan Stanley, shares of chipmaker Nvidia rose, helping the S&P 500 and Nasdaq close higher. As investors awaited the earnings results from US retailers, this caused other Megacap growth stocks to increase. The information technology index increased thanks to Nvidia’s gain, making it the strongest …

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• 14 August 2023 11:44 pm

  EUR/GBP declines ahead of key British economic data

  

  The EUR/GBP pair has declined for a second consecutive day, falling towards 0.8605. The Eurozone’s preliminary Q2 GDP report is set to be released on Wednesday, and no relevant data releases will feature on Monday’s economic calendar. The Office for National Statistics will release key labour market data on Tuesday, …

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• 14 August 2023 10:34 pm

  Gold price around five-week low ahead of awaited US Retail Sales

  

  Because of the US dollar’s strength and surging US Treasury bond yields, the price of gold has continued to perform worse. Because of higher rental prices, inflation increased steadily at a rate of 0.2% in July. In September, the Fed is anticipated to leave interest rates steady. The precious metal …

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• 14 August 2023 9:18 pm

  Forecast by six major banks on looming UK CPI

  

  Economists and analysts of six big banks contributed their forecast regarding the impending UK inflation print. The UK will release the Consumer Price Index (CPI) data on Wednesday, August 16 at 06:00 GMT.Headline is predicted to be 6.8% year-over-year, down from the reading of 7.9% in June. If so, the …

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• 14 August 2023 8:44 pm

  After touching 17-month low, will Russian central bank save the ruble?

  

  As Moscow raised military spending and Western sanctions put pressure on its energy exports, the value of the Russian currency dropped to its lowest level since the early days of the Ukraine conflict. As a result, the Russian central bank announced that it will hold an emergency meeting to review …

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• 14 August 2023 7:26 pm

  NY Fed Survey: Year-ahead expected inflation drops

  

  The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations showed on Monday that the US consumers’ one-year inflation expectation dropped to the lowest level since April 2021 at 3.5% in July from 3.8% in June.The US Dollar Index showed no immediate reaction to this report and was …

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• 14 August 2023 4:41 pm

  Goldman expects Fed to start rate cuts in Q2 next year

  

  The Federal Open Market Committee (FOMC), according to Goldman Sachs, may begin reducing the funds rate in the second quarter of 2024. This estimate assumes that core Personal Consumption Expenditures (PCE) inflation will have fallen below 3% on a yearly basis and under 2.5% on a monthly basis. Even if …

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• 14 August 2023 2:46 pm

  The strength of dollar plunged gold to its lowest level in 5 weeks

  

  Gold prices fell on Monday, August 14, to their lowest level in more than five weeks, after the dollar and bond yields rose, ahead of the upcoming publication this week of the minutes of the US Federal Council meeting for the month of July, which may provide indications that will …

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• 14 August 2023 12:48 pm

  European stocks decline with shares of commodities-related companies falling

  

  European stocks opened lower on Monday, led by losses from miners with exposure to China on concerns about its ailing real estate sector, and energy stocks fell on lower oil prices. And by 0703 GMT, the European Stoxx 600 index fell 0.1 percent, extending losses from the previous session. Shares …

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• 14 August 2023 12:00 pm

  Ruble fell to more than 100 against USD

  

  The Russian ruble fell to more than 100 against the dollar on Monday after an economic adviser to President Vladimir Putin said that Russia was interested in strengthening the ruble and that monetary easing was the main reason behind the local currency’s depreciation. The ruble fell to 100.4975 against the …

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• 14 August 2023 10:51 am

  Oil is falling due to the rise in the dollar and concerns about demand in China

  

  Oil prices fell on Monday, after posting seven consecutive weeks of gains, supported by tight supplies caused by the OPEC+ group’s production cuts, amid concerns about a slowing economic recovery in China and the impact of a rising dollar. Brent oil futures fell 29 cents, or 0.3 percent, to $86.52 …

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• 14 August 2023 3:28 am

  Financial Markets’ Weekly Recap, August 7-11

  

  After a quiet trading week’s beginning on Monday, storms came one after another though Tuesday was ted to be quiet in terms of economic data; the first storm impacted commodities, because in response to data that suggested a potential global economic slowdown, risk appetite deteriorated on Tuesday, and the EUR/USD …

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• 12 August 2023 3:09 am

  Market Drivers – US Session, August 11

  

  The US Dollar Index kept advancing and rallied for a fourth week in a row. It reached its highest point for the week, close to the 103.00 level, since June. The stock markets didn’t shift much as caution predominated. While continuing its seven-week rising trend, crude oil briefly retraced after …

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