Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 27 August 2023 9:24 pm

  Financial Markets’ Weekly Recap, August 21-25

  

  All economic developments and investor-focused topics in the previous trading week were eclipsed by the speeches by ECB President Christine Lagarde and Fed Chair Jerome Powell on Friday. Hawkish stances from Jackson HoleECB President Christine Lagarde and Fed Chair Jerome Powell addressed key economic developments and investor-focused topics. Lagarde emphasized …

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• 26 August 2023 2:00 am

  Global economic woes, hawkish Fed stance drag GBP/USD lower

  

  The GBP/USD pair retreated by 0.18% due to concerns over global business activity and China’s real estate market woes. The US Dollar Index advanced 0.19% to new two-month highs, driven by Powell’s hawkish remarks on inflation and rate hikes at Jackson Hole. Mixed US economic data, including lower-than-expected Initial Jobless …

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• 26 August 2023 1:00 am

  Lagarde: Critical inflation expectations remain anchored at 2%

  

  Christine Lagarde, president of the European Central Bank, said on Friday that crucial inflation expectations are still anchored at 2%. She emphasized the significance of these anticipations and expressed certainty that the inflation figures will change by the year end.Following statements by Lagarde of the ECB and Powell of the …

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• 25 August 2023 11:42 pm

  S&P 500 Gains Following Powell’s Speech

  

  After Jerome Powell, Fed Chair declared that monetary policymakers will proceed carefully in making interest rate decisions, Wall Street is hoping for its first profitable week in four weeks. The Nasdaq composite and Dow Jones Industrial Average both increased by 0.9% in late trade, while the S&P 500 increased by …

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• 25 August 2023 10:26 pm

  US Dollar Index Climbs on Powell’s Hawkish Stance

  

  Following Powell’s hawkish comments, DXY increased by 0.18%, signaling a higher dollar relative to six major currencies. With ambiguous Treasury yield curve signals and conflicting official opinions, a 25-bps rate hike in November has a 46.7% chance of happening, which defies past Fed projections.The US Dollar Index (DXY), a gauge …

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• 25 August 2023 9:29 pm

  Has Powell’s Speech Confirm Or Dismiss Hawkishness?

  

  Interest rate futures tied to the Federal Reserve’s policy rate on Friday priced in a more than even chance of tightening at either the November or December policy meetings after Chair Jerome Powell struck what market participants perceived to be a moderately hawkish tone.The Fed though is widely expected to …

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• 25 August 2023 8:40 pm

  USD/CAD climbs as Fed’s Powell eyes additional hikes

  

  Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613.Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls.Lackluster Canadian retail sales data at …

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• 25 August 2023 4:26 pm

  The Turkish lira lost some of its gains a day after a higher-than-expected interest rate hike

  

  The Turkish lira fell 2.8% on Friday, August 25, to give up some of its gains, one day after the central bank raised interest rates dramatically. And by 07:36 GMT, the lira recorded 26.51 per dollar, compared to 25.75 per dollar, at the close of trading on Thursday, down 2.8%. …

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• 25 August 2023 3:14 pm

  Euro is falling and Dollar is rising just before Powell’s speech

  

  The euro fell to its lowest level since mid-June on Friday, weighed down by growing expectations that the European Central Bank could soon stop raising interest rates, while the dollar rose broadly ahead of a speech by Federal Reserve Chairman Jerome Powell. Reuters quoted eight informed sources as saying that …

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• 25 August 2023 3:10 pm

  BRICS vs. Greenback – Impact on the Global Economy

  

  Dive into Noor Capital’s comprehensive report that that created by Research and Development Department, The growing impact of the BRICS bloc on the global economy—including Brazil, Russia, India, China, and South Africa. As an alternative power to traditional Western hegemonies, the BRICS represent more than a quarter of global GDP …

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• 25 August 2023 2:08 pm

  European stocks fall as investors focus on ECB

  

  European stocks fell in early trading on Friday, as investors were cautious ahead of the statements of the heads of major central banks at the Jackson Hole symposium in the United States, while the rise in bond yields continued to pressure stocks. And by 0711 GMT, the European Stoxx 600 …

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• 25 August 2023 2:06 pm

  Gold loses its luster with the rise of USD

  

  Gold prices fell on Friday as the dollar rose to a ten-week high, but the precious metal was set to post its best performance in six weeks ahead of a speech by Federal Reserve Chairman Jerome Powell that could provide clues about interest rate movements. Gold futures fell 0.2 percent …

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• 25 August 2023 12:00 pm

  German economy is in recession in Q2

  

  Data from the German Statistics Office showed on Friday that the country’s economy stagnated in the second quarter compared to the previous quarter of the year after suffering a recession in the winter. The zero growth for the three months ending in July is in line with the first estimates …

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