Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 22 August 2023 12:03 pm

  The Nikkei index rose for the second session, supported by banking stocks and chips

  

  Japan’s Nikkei share average closed higher for the second straight session on Tuesday, with banking stocks surging on a jump in bond yields and chip-related stocks trailing their Wall Street peers. The Nikkei index rose 0.92 percent to close at 31,856.71 points. Among the 225 stocks on the index, 185 …

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• 22 August 2023 11:22 am

  Oil is falling due to a possible increase in Iraqi supplies and concerns about demand

  

  Oil prices fell on Tuesday as the market waited to see if Iraqi exports through the Turkish port of Ceyhan would resume, which could ease supply tightness caused by OPEC+ cuts, while China’s ailing economy still overshadowed the global demand outlook. By 0241 GMT, Brent crude fell eight cents to …

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• 22 August 2023 4:47 am

  Market Drivers – US Session, August 21

  

  Although a sparse macroeconomic calendar kept key pairs at known levels, the US dollar lost some gain on Monday. While government bond yields increased, reflecting the prevailing cautious approach, market sentiment remained negative. Investors’ concerns that global central bankers will continue their monetary tightening programmes to control inflation caused the …

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• 22 August 2023 2:59 am

  EUR/USD steadies around 1.0900 post Germany’s Buba Monthly Report

  

  After six straight days of losses, the EUR/USD is now trading near 1.0900. at the time of writing, the pair is seen at 1.0895. Upside inflation concerns were alluded to in the German Buba Monthly Report, which encouraged hawkish bets on the European Central Bank. Investors are looking forward to …

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• 22 August 2023 1:51 am

  How has gold price reacted to bond market turmoil?

  

  On Monday, the price of gold kept falling as the bond market turbulence persisted. The XAU/USD pair fell to its lowest point since March 14th, 1,880. Its decrease from this year’s peak is greater than 9.3%. At the time of writing, the precious metal is selling for $ 1894.69 per …

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• 22 August 2023 12:52 am

  GBP/USD pair surges on prodding UK economic concerns

  

  After recording its first weekly gain in five weeks, GBP/USD gradually increases. The opposition Labour Party in the UK projects the weakest growth among the G7 nations. Bullish triangle formation and an impending bull cross on the MACD tempt purchasers of cable.Bulls breached boundaries early on Tuesday in Asia, breaking …

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• 21 August 2023 11:59 pm

  China’s economy at risk on accelerating impact of real estate crisis

  

  Land sales and personal budget cuts are being greatly impacted by the real estate crisis in China, which has reduced retail sales, investment, exports, and industry output. After three years, the government’s “zero covid” initiatives have not generated the promised roar but rather a whimper. Two-thirds of personal wealth and …

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• 21 August 2023 9:57 pm

  WTI under pressure as China’s economy slows

  

  Following China’s rate cut and the significant drive for greater lending, which indicate a deteriorating economy, WTI crude declined by 0.95 percent. Pessimism is increased by the significant 31% decline in Saudi Arabia’s oil shipments to China in July.The US rig count is falling, indicating a likely tightening of the …

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• 21 August 2023 8:52 pm

  USD/JPY jumps following China’s unexpected rate cut

  

  The USD/JPY pair soared above 146.00, posting daily gains of more than 0.60%. Following the PBoC rate drop, the Yen is slipping. The pair is trading at 146.16 at the time of writing.On Thursday’s session, investors anticipate the annual Jackson Hole Symposium. The USD/JPY is up around 146.20 at the …

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• 21 August 2023 7:46 pm

  NY Fed Survey: Expected wage for a new job rises to record high in July

  

  The Federal Reserve Bank of New York’s latest the SCE Labor Market Survey revealed that the lowest wage respondents would be willing to accept for a new job jumped to a record high of $78,645 in July, up from $72.873 a year ago.The US Dollar Index showed no immediate reaction …

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• 21 August 2023 4:07 pm

  JPMorgan sees Japan’s threshold for yen intervention at around 150 yen per dollar

  

  The yen was trading at 145.87 to the dollar on Monday, having been as weak as 146.56 last week. “We think that the MoF (Ministry of Finance Japan) will not intervene in the FX market at around (the) 145 level. Our threshold level of JPY buying intervention is around 150,” …

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• 21 August 2023 3:05 pm

  Oil rises after expectations of OPEC + exports cuts in August

  

  Oil prices rose on Monday as global supply tightened due to reduced exports from Saudi Arabia and Russia outweighed concerns about global demand growth amid high interest rates. And by 0301 GMT, Brent crude oil prices rose 75 cents to 85.55 dollars a barrel. West Texas Intermediate crude rose 80 …

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• 21 August 2023 2:14 pm

  European stocks rise with the support of the energy and healthcare sectors

  

  European stocks opened higher on Monday, supported by the rise of energy stocks, with the rise in global oil prices, and the rise in health care stocks, thanks to the strong performance of the Danish pharmaceutical company, Novo Nordisk. The pan-European Stoxx 600 index was up 0.4 percent by 0712 …

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