Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 25 August 2023 12:31 am

  WTI ignores hawkish signals, rebounds ahead of Powell’s speech

  

  The WTI crude oil is climbing to $79.05 per barrel, up 0.20%, at the time of writing, as hawkish signals by Fed officials initially dent but later fail to suppress oil prices.Iran announces plans to ramp up crude oil production to 3.4 million bpd by the end of September. The …

  Read More »
• 24 August 2023 11:46 pm

  US stocks drop more than 1% after Jackson Hole kicks off

  

  The US stock market experienced losses due to a stronger USD and hawkish remarks by Federal Reserve officials at the Jackson Hole Symposium. The SPX erased gains from Wednesday, retreating to 4,380. Fed officials Thomas Barkin and Susan Collins sounded hawkish at the beginning of the symposium. Jerome Powell’s speech …

  Read More »
• 24 August 2023 9:32 pm

  Can China Overcome Local Debt Crisis?

  

  Over the past ten years, China has witnessed the largest infrastructure boom in history, making it one of the key factors in the Asian country’s economic expansion. However, businesses who took out loans to support the development boom are now under unheard-of debt strain. The future of China’s whole economy …

  Read More »
• 24 August 2023 8:39 pm

  Fed chair could lay the groundwork for a new era of higher interest rates

  

  President Jerome Powell is expected to deliver new monetary policy cues later this week, but while many aren’t expecting the Fed chief’s remarks to be laced with the ‘pain’ warning from last year, there are concerns that he may raise the prospect of higher longer-term interest rates. According to Goldman …

  Read More »
• 24 August 2023 7:46 pm

  Fed’s Collins suggests US central bank can hold steady

  

  Susan Collins of the Fed indicated on Thursday that the US central bank may be in a position where it doesn’t need to hike rates once more, while she left the door open for further action. These remarks had no immediate response from the US Dollar Index, which was last …

  Read More »
• 24 August 2023 5:37 pm

  US jobless claims fall as labor market remains tight

  

  The number of Americans filing new unemployment claims declined last week, indicating that labour market conditions remained tight despite the Federal Reserve’s aggressive rate hikes. The Labour Department said on Thursday that initial claims for state unemployment benefits fell by 10,000 to a seasonally adjusted 230,000 for the week ending …

  Read More »
• 24 August 2023 4:29 pm

  The Turkish Central Bank raises interest by 750 basis points

  

  The Central Bank of Turkey raised the main interest rate “repo” by 750 basis points to 25%, which shocked the markets that were priced at a hike of only 250 basis points, which pushed borrowing costs to their highest levels since January 2004. The central bank’s decision to raise interest …

  Read More »
• 24 August 2023 2:05 pm

  Gold reaches its highest level in two weeks as Treasury yields decline

  

  Gold prices rose to their highest levels in two weeks on Thursday, as a decline in the dollar and Treasury yields increased the appetite of investors for bullion, as they awaited clues about the path of interest rates during a meeting of central bankers in Jackson Hole. And by 0629 …

  Read More »
• 24 August 2023 12:41 pm

  Nikkei rises for the fourth day in a row, with the rise of technology stocks

  

  Japan’s Nikkei rose for the fourth straight session on Thursday, posting its longest winning streak since mid-June, after record earnings from US chip designer NVIDIA lifted shares of Japanese technology companies. The Nikkei index increased 0.87 percent to 32,287.21 points at the close, approaching its highest level during the day, …

  Read More »
• 24 August 2023 12:16 pm

  Oil declines after weak economic datat

  

  Oil prices fell on Thursday with the release of disappointing economic data from major economies, while investors await Federal Reserve Chairman Jerome Powell’s speech on Friday, looking for any indications on the path of interest rates. And by 0619 GMT, Brent crude fell 19 cents, or 0.2 percent, to $ …

  Read More »
• 24 August 2023 5:58 am

  What is a BRICS currency?

  

  In a bid to lessen their sensitivity to changes in the dollar exchange rate, Brazil’s president called on the BRICS countries to establish a single currency for trade and investment between one another on Wednesday.At the Johannesburg BRICS conference, Luiz Inacio Lula da Silva proposed the idea. Given the variations …

  Read More »
• 23 August 2023 11:43 pm

  Powell to reveal next Fed steps to combat inflation

  

  Fed Chair Jerome Powell is expected to outline the final steps the US central bank could implement in the framework of the ongoing campaign to tame inflation during his speech at Jackson Hole Symposium. Powell’s speech comes as policymakers enter the most difficult stage of the fight against inflation, calibrating …

  Read More »
• 23 August 2023 10:39 pm

  US stocks rise ahead of Nvidia’s crucial results

  

  Wall Street’s key indexes rose on Wednesday due to Nvidia stock’s surge in shares, driven by expectations of a positive future outlook from the chip designer. Nvidia’s sales target exceeded Wall Street projections, leading to a record high for the chip designer’s shares. Analysts worry about a bigger selloff if …

  Read More »