Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 7 August 2023 12:13 pm

  Gold rises with the decline of USD and yield on treasury bonds

  

  Gold prices rose Monday, August 7th, after data showing slower-than-expected job growth in the United States negatively affected the dollar and the yield on Treasury bonds, to retreat from high levels they reached recently. Investors are anticipating an inflation test this week that may affect the path of raising interest …

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• 5 August 2023 2:08 am

  US stocks edge lower on NFP’s day, cyberattack news

  

  The Dow Jones Index reversed lower for a loss of 0.4% Friday on reports that a cyberattack hit hospital computer systems across several states. Top gainers in the Dow Jones included Amgen, which jumped on earnings. But Apple was down nearly 5%.The S&P 500 and Nasdaq Composite retreated for a …

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• 5 August 2023 12:18 am

  EUR/USD surges after weak NFP data

  

  The EUR/USD pair has risen above 1.1007, positioning the Euro for a strong finish. The US Nonfarm Payrolls report showed an 187K increase in labor force participation and an unemployment rate of 3.6%, higher than 3.5%. This resilience is a key factor holding inflation at or around 3%, making the …

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• 4 August 2023 11:05 pm

  WTI jumps to multi-month high on weak US dollar

  

  WTI crude has surged to daily high above $83.00 ahead of the weekend for the first time since April. The Saudis’ expected reductions in oil output and the depreciation of the US dollar are mostly to blame for the black gold’s upward trend. Additionally, the daily chart shows that the …

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• 4 August 2023 10:05 pm

  Brazil’s Petrobras Q2 profit dropped on lower oil price

  

  Petrobras retreated -0.5% pre-market Friday after Q2 earnings fell by nearly half from a year earlier on lower oil prices and a sharp drop in international crack spreads for diesel.Q2 net income fell to 28.8B reais (~$5.9B) from 54.3B reais in the year-earlier quarter, and recurring net income, which strips …

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• 4 August 2023 8:39 pm

  AUD extends recovery after NFP data

  

  The Australian dollar has reacted strongly against the US Dollar (USD) on Friday, following Nonfarm Payrolls (NFP) data showing the US added 187K new jobs in July, undershooting estimates of 200K. This data suggests a slowdown in the labor market, which could undermine high inflation and lead to lower interest …

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• 4 August 2023 7:42 pm

  US dollar pressured post NFP data

  

  The US dollar experienced renewed selling pressure after the July jobs report, which showed a 187,000 increase in nonfarm payrolls. The US Bureau of Labour Statistics reported that Nonfarm Payrolls in the US rose 187,000 in July, weaker than the market expectation of 200,000. The US Dollar Index recorded 101.807 …

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• 4 August 2023 4:42 pm

  US Nonfarm Payrolls increase 187,000 in July vs. 200,000 expected

  

  The US Bureau of Labour Statistics reported on Friday that nonfarm payrolls (NFP) increased by 187,000 in July. This estimate fell short of the market’s anticipation of 200,000. The June increase of 209,000 was reduced down to 185,000. Follow our live coverage of the market reaction to the July jobs …

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• 4 August 2023 4:41 pm

  Reuters: OPEC + kept the oil production policy unchanged

  

  Two OPEC+ sources said the meeting of the group’s senior ministers’ committee kept oil production policy unchanged on Friday. The committee, called the Joint Ministerial Monitoring Committee, includes ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, within the framework of what is known as …

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• 4 August 2023 3:25 pm

  Apple shares dip on weaker iPhone sales

  

  iPhone sales that fell short of expectations were partially offset by the company’s performance in the services sector. However, Apple shares were down close to 2% in Friday premarket trading. Apple exceeded predictions by reporting earnings per share (EPS) of $1.26 on revenue of $81.80B, compared to $1.19 and $81.73B, …

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• 4 August 2023 1:10 pm

  Oil is heading for gains for the sixth week, amid pledges to cut production

  

  Oil prices rose for the second day in a row on Friday and are set to achieve a weekly gain for the sixth time in a row, after Saudi Arabia and Russia pledged to cut production until the end of next month. Brent oil futures for October delivery rose 30 …

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• 4 August 2023 12:02 pm

  European stocks stabilize after a 3-day sell-off

  

  European stocks were flat on Friday after a three-day sell-off, as recent fears of slowing global economic growth were outweighed by strong expectations from retail giant Amazon and a number of other companies. The pan-European Stoxx 600 index rose 0.1% by 0723 GMT, but was still on track to post …

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• 4 August 2023 10:47 am

  Gold is heading for a weekly loss due to the rise in US bond yields

  

  Gold appears to be heading for its worst weekly performance in six weeks on Friday, as investors await the closely watched US jobs report, after a batch of strong economic data this week pushed US Treasury yields to their highest levels in nine months. Spot gold rose 0.1 percent to …

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