Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 30 August 2023 3:33 pm

  US: Real GDP grows at an annual rate of 2.1% in Q2

  

  The US economy grew at an annual pace of 2.1% in the second quarter, falling short of the earlier estimate of 2.4%. According to the Bureau of Economic Analysis, “the updated estimates primarily reflected downward revisions to private inventory investment and nonresidential fixed investment, which were partially offset by an …

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• 30 August 2023 2:30 pm

  Indian Oil Minister: We will buy oil from all sources that provide it “at the lowest possible prices”

  

  India’s Oil Minister, Hardeep Singh Puri, told the media that his country would buy oil from all available sources at the “lowest possible prices”. India has been buying crude oil from Russia, now its biggest supplier, at discounts since the West imposed restrictions on imports from Moscow following its invasion …

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• 30 August 2023 1:33 pm

  European stocks rise with support from insurance companies

  

  European stocks rose at the open on Wednesday after positive results from Prudential Insurance supported the sector index, while investors awaited more important data to assess the strength of the economy in the region. By 0703 GMT, the European STOXX 600 index rose 0.1 percent after rising about 1 percent …

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• 30 August 2023 12:42 pm

  Dollar is recovering as investors await more indicators on the US Central Bank’s path

  

  The US dollar recovered from some of the sharp losses it incurred in the previous session, as investors awaited more data from the labor market for indications of the Federal Reserve’s policy path. The dollar index, which measures the performance of the US currency against a basket of six major …

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• 30 August 2023 11:56 am

  Nikkei closed at the highest level in 3 weeks, supported by bargain hunting and the rise of Wall Street

  

  The Nikkei index closed at a three-week high on Wednesday as investors bought back plunging stocks and a boost from an overnight rally on Wall Street lifted market sentiment. The Nikkei ended the session up 0.33 percent, recording 32,333.46 points, the highest level since August 10, after continuous gains for …

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• 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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