Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 9 August 2023 4:25 am

  Market Drivers – US Session, August 08

  

  Financial markets are anxiously awaiting data on Chinese inflation during the Asian session, details on New Zealand’s electronic card retail sales, and expectations for the third quarter’s inflation rate from the Reserve Bank of New Zealand.Among the upcoming figures for Japan are machine tool orders for July. Due to lower …

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• 9 August 2023 1:01 am

  GBP/USD falls on global economic growth woes

  

  Due to worries about both the Chinese economic recovery and the expansion of the global economy, the GBP/USD decreased by 0.36%, remaining below the 1.2800 mark. The US dollar (USD) has been a steadfast advocate for rate stability, despite Michelle Bowman of the Fed’s push for additional rate increases. Negative …

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• 9 August 2023 12:17 am

  UK companies face challenges in Eurozone

  

  The Eurozone region presents a number of difficulties for the logistics industry, including supply chain disruptions, a talent gap, geopolitical unpredictability, complicated trade regulations, increased transportation costs, protracted lead times, and employee shortages. Brexit has been a significant impact, but other elements including the epidemic, a shortage of materials, and …

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• 8 August 2023 11:55 pm

  How could stocks, bitcoin react to potential uptick of US inflation?

  

  The CPI report suggests an increase in US inflation, which could be a bullish sign for risk-on assets like commodities and cryptocurrencies. However, the current situation is different as inflation is making a comeback while the Fed is reducing liquidity in the system. This uncertainty affects the impact of inflation …

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• 8 August 2023 10:56 pm

  Chinese demand-linked concerns dragging WTI’s price down

  

  WTI fell to a low below $80.00 and then jumped back above $82.00, clearing most of its daily losses. China reported weak Trade Balance data, with Exports and Imports coming in weaker than expected in July. The American crude oil is trading at $82.58 at the time of writing.A stronger …

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• 8 August 2023 9:57 pm

  Fed’s Harker expects cutting rates sometime next year

  

  Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday that they will probably start lowering the policy rate sometime next year.The US Dollar Index retreated slightly from daily highs following the comments. As of writing, the index was still up 0.5% on the day at 102.54.Harker argued that they …

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• 8 August 2023 8:58 pm

  Wall Street quacked by Moody’s downgrade of banking sector

  

  US stocks retreated Tuesday as an August sell-off was reignited by a downgrade of the banking sector by credit rating agency Moody’s. The Dow Jones Industrial Average was down 359 points, or 1%, led by a decline in Goldman Sachs. The S&P 500 dipped 1.1%, bringing its pullback from its …

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• 8 August 2023 7:49 pm

  AUD slides lower after disappointing Chinese trade figures

  

  Due to China’s trade numbers for July coming in below forecasts, the Australian dollar has fallen, which has decreased demand for commodities, particularly for Iron Ore, Australia’s biggest export. This prompts worries about the downturn in China, the bust of the housing bubble, and the downfall of the world economy. …

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• 8 August 2023 4:17 pm

  USD consolidates its gains, AUD and yuan decline after weak Chinese data

  

  The dollar consolidated its gains on Tuesday as dealers struggled to keep pace with the divergent growth forecasts of the world’s two largest economies, but they took little notice of a disappointing new batch of Chinese trade data. Data on Tuesday showed China’s imports and exports fell much faster than …

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• 8 August 2023 1:39 pm

  Gold loses some luster as dollar rises

  

  Gold prices fell on Tuesday as the dollar regained some stability amid investors’ anticipation of US inflation data due this week to get a clearer picture of the prospects for raising interest rates. Spot gold fell 0.2% to $1933.24 an ounce by 0645 GMT, and US gold futures fell 0.1% …

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• 8 August 2023 1:38 pm

  European stocks fall under the weight of Italian bank stocks and weak data

  

  European stocks fell on Tuesday as Italian banks came under pressure after the cabinet approved a 40 percent tax on bank windfalls, and persistent inflation in Germany and weak trade data in China weighed on risk appetite. The pan-European Stoxx 600 index was down 0.3 percent by 0707 GMT. Shares …

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• 8 August 2023 11:50 am

  The Nikkei is rising, but caution about results caps gains

  

  The Japanese Nikkei index rose on Tuesday, supported by the rise of US stocks last night, but caution prevailed as the local companies’ results announcement season approached its peak. The best-performing stocks were driven by financial results and showed no signs of other major factors driving the markets, however a …

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• 8 August 2023 2:56 am

  Market Drivers – US Session, August 7

  

  The start of the new trading week has been uneven for currencies, with the US dollar falling during the American session. The US Dollar Index ended the day unchanged, remaining close to the 102.00 mark. While the 2-year rate decreased to 4.76%, the US 10-year Treasury yield increased to 4.1%.Economic …

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