Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 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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• 29 August 2023 1:00 am

  Market Drivers – US Session, August 28

  

  The USD is trading weakly against the majority of its competitors on Monday due in large part to a small consolidation and a risk-positive market environment. On the other side, while markets continue to assess Jerome Powell’s speech on Friday, the hawkish rhetoric of the European Central Bank is gaining …

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• 29 August 2023 12:04 am

  EUR/USD rises on consolidating US dollar

  

  Near 1.0810, the EUR/USD pair soared. After Jerome Powell’s speech, the US dollar and US yields consolidated, with the USD trading weakly against most competitors as a result of a minor consolidation and a risk-positive market environment. As markets digested Powell’s speech, the hawkish tone of the European Central Bank …

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• 28 August 2023 11:49 pm

  Dallas Fed’s survey reveals cons of hawkishness

  

  The Dallas Fed’s Texas Manufacturing survey has revealed that the Fed’s hawkish interest rate hikes have had a negative impact on the economy. The August survey found that the production index, which measures factory activity in the state, fell again in August, dropping 6 points to -11.2, the lowest level …

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• 28 August 2023 10:45 pm

  AUD/USD rebounds on strong Aussie sales after Women’s World Cup

  

  The Australian dollar has gained 0.40% against the US dollar due to positive retail sales data and falling bond yields. The pair is set to extend its losses after Fed’s Powell delivers hawkish remarks at Jackson Hole. The AUD/USD pair trades at 0.6421, gaining 0.30%. The US Dollar Index drops …

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• 28 August 2023 9:51 pm

  US NFP data outlook for August looks uncertain

  

  The US nonfarm jobs data for August is expected on Friday, with bond market investors seeking a reprieve from higher long-term rates. The August employment report showed the economy added fewer jobs than expected, but solid wage gains and a declining unemployment rate to 3.5% pointed to continued tightness in …

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• 28 August 2023 8:57 pm

  WTI surges despite Chinese economic fears

  

  WTI has surged despite Chinese economic fears, trading near $80.00 and at $79.94 per barrel. The fragile Chinese economic situation limits upside potential, but markets are monitoring potential supports from the Chinese government.Oil prices managed to maintain momentum despite the fragile real-estate sector and the plummeting Evergrande’s stock. The US …

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• 28 August 2023 7:40 pm

  Gold price moves sideways as investors await key economic data

  

  After a strong recovery, the price of gold has levelled out as investors look for new reasons to take action. At the time of writing, the precious metal is selling for $1921.51 per ounce. At the Jackson Hole Symposium, Fed Chair Jerome Powell reaffirmed that future policy decisions will be …

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