Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 11 August 2023 12:13 pm

  The British economy grows more than expected in Q2

  

  Britain unexpectedly posted some growth in the second quarter, supported by a strong performance in June, official data revealed on Friday, but it remains the only one of the world’s largest economies not to return to pre-COVID-19 levels. The economy expanded by 0.2 percent in the second quarter, compared with …

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• 11 August 2023 2:29 am

  Market Drivers Post-CPI Data, US Session, August 10

  

  A spokesperson for Prime Minister Rishi Sunak’s government said Biden’s executive order gave important clarity on the U.S. approach: “The UK will consider these new measures closely as we continue to assess potential national security risks attached to some investments.” The American dollar strengthened on Thursday, supported by higher US …

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• 11 August 2023 12:33 am

  Bitcoin flirts with $30,000 post-CPI data

  

  More traders are expected to purchase Bitcoin at steep discounts as they wait for forward-looking macroeconomic data to indicate a recovery in the cryptocurrency’s price since social volume for Bitcoin has increased over the past 30 days. High inflation rates in a nation increase the value of its currency, whereas …

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• 11 August 2023 12:05 am

  GBP/USD fluctuates amid US CPI data as traders shift focus to UK GDP

  

  GBP/USD reached a weekly high of 1.2818, but dropped below 1.2700. US CPI remains above 3%, Core CPI remains 4%. UK GDP figures for Q2 release, US inflation data, reacted upwards.US Treasury bond yields soared, leading to a comeback in the US Dollar (USD) at 1.2687. The GBP/USD pair reached …

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• 10 August 2023 10:47 pm

  Gold positively reacts to CPI data

  

  Gold extended its gains early on the day but the precious metal is trimming some of those after the US dollar recovers some ground as US Treasury bond yields advance. The latest inflation report for July in the US showed the CPI jumping by 3.2% YoY, below estimates and exceeded …

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• 10 August 2023 10:27 pm

  US budget deficit hitting $1.6 trillion so far in current fiscal year

  

  According to the Treasury Department, the US government budget deficit reached $1.6 trillion during the first ten months of the current fiscal year. 4.110%According to the Treasury Department’s report released on Thursday, the federal budget deficit increased by more than twice as much in the first ten months of fiscal …

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• 10 August 2023 9:41 pm

  WTI retreated below the $83.00 post soft CPI data

  

  Soft inflation figures from the US and weaker US dollar contribute to limiting crude oil’s losses. Eyes now are focusing on the Fed speaker later during the US trading session. WTI’s outlook remains positive amid reports suggesting tighter global supplies.On Thursday’s session, the WTI crude saw more than 1% losses …

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• 10 August 2023 8:27 pm

  Moody’s warning revisited as a wake-up call for optimistic banking investors

  

  The decline in US bank stocks this week astonished options traders and drove them to wonder whether bank investors have grown too accustomed to the crisis-hit industry. Several US regional lenders had their credit ratings reduced by Moody’s, and some of the world’s largest banks were under scrutiny for a …

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• 10 August 2023 7:41 pm

  Fed’s Daly: US July CPI is a “good data point”

  

  Federal Reserve Bank of San Francisco President Mary C. Daly said on Thursday that today’s Consumer Price Index report was “good news” for families and businesses in an interview with Yahoo! Finance. She mentioned that they are committed to getting core inflation down. The US Dollar Index is falling on …

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• 10 August 2023 4:14 pm

  European stocks are rising thanks to shares of insurance companies and personal and household goods

  

  European stocks rose on Thursday as investors received a batch of corporate earnings reports while they awaited US inflation data that is likely to determine the course of the Federal Reserve’s monetary policy. The pan-European Stoxx 600 index rose 0.4 percent by 0707 GMT, after rising to a one-week high …

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• 10 August 2023 3:19 pm

  The Russian ruble fell to the lowest level in 16 months against the dollar

  

  The Russian ruble fell by more than two percent against the dollar on Tuesday, to its lowest level in more than 16 months, above 97, due to strong domestic demand for foreign currency. The ruble recovered on Monday to post intraday gains for the first time in August, but gave …

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• 10 August 2023 1:59 pm

  The unemployment rate in Türkiye rose to 9.6% in June

  

  Official data showed on Thursday that Turkey’s unemployment rate rose 0.1 percentage point month-on-month to 9.6 percent in June, while the underutilization rate of the labor force, after adjusting for seasonal factors, rose 1.7 percentage points to 24.2 percent. The workforce underutilization rate has decreased significantly since 2021, but has …

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• 10 August 2023 1:03 pm

  Gold near its lowest level in a month

  

  Gold prices hovered near a one-month low on Thursday, as investors awaited US inflation data that could determine the path the Federal Reserve will take on interest rates going forward. Gold increased 0.2 percent in spot transactions to $ 1,918 an ounce by 0337 GMT, but it is hovering near …

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