Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 17 August 2023 12:57 am

  USD/JPY approaches overbought levels after FOMC minutes

  

  Following the FOMC minutes, the USD/JPY is getting close to being overbought. The USD/JPY pair is currently trading at 146.32, not far from 146.30. The pair has gained more than 0.5% so far today. The minutes of the July FOMC Meeting show that US monetary policymakers want to leave the …

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• 16 August 2023 11:42 pm

  Gold sinks after FOMC minutes

  

  XAU/USD reacts with a sharp drop, testing the S1 daily pivot point, while US Treasury yields and the greenback see upward movement. Fed officials unanimously aim to achieve the 2% inflation target, but divisions emerge on the path forward.Gold price struggles after the latest Federal Reserve’s meeting minutes showed board …

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• 16 August 2023 10:13 pm

  FOMC minutes: Inflation risks could require further tightening

  

  Federal Reserve released the minutes from its July 25-26 meeting. The minutes showed most fed officials saw a “significant” upside risk to inflation. US Dollar rises modestly after the minutes. The US Dollar rose modestly after the minutes, reaching fresh highs against the EUR, AUD, NZD, CAD, and JPY. The …

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• 16 August 2023 9:57 pm

  Risk aversion drags Dow lower ahead of FOMC minutes

  

  Dow Jones declines on Wednesday amid a more pessimistic market outlook. Intel ends plans to buy China’s Tower Semiconductor. Dow component The Home Depot spiked on consensus earnings beat on Tuesday. Cisco reports earnings after Wednesday close, Walmart reports earnings results on Thursday.July US Retail Sales on Tuesday showed strong …

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• 16 August 2023 9:06 pm

  FOMC Minutes Preview: Will Fed leave the door open for interest rates?

  

  Investors await the Fed’s latest FOMC meeting minutes after several regulators have comments on the current state of inflation and the importance of data-driven decision-making on interest rates going forward.A lot of what investors think the minutes will reflect today is consensus view from the officials and whether or not …

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• 16 August 2023 8:48 pm

  Gold price hovers around $1900 ahead of FOMC minutes

  

  As investors wait for the Fed minutes, gold is trading at approximately $1,900.00. The US Dollar benefits from the durability of the US economy and a downturn in China. Strong pay growth-driven consumer spending momentum could keep US core inflation stable.As investors wait for the FOMC minutes to provide direction …

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• 16 August 2023 7:36 pm

  Sterling aims at more upside on still hot core inflation

  

  The Pound Sterling climbs above 1.2750 after mixed United Kingdom inflation data for July. Monthly headline inflation contracted by 0.4%, slower than expectations of 0.5%. In June, headline CPI expanded by 0.1%.The UK Pound starts moving as core inflation supports further policy tightening. UK’s core inflation remains stronger due to …

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• 16 August 2023 4:41 pm

  GBP rose after British inflation data and the Yuan at its lowest level in 9 months

  

  The pound was set to post its biggest one-day gain in nearly two weeks on Wednesday after data showed Britain’s core inflation remained high in July, while the yuan fell to a nine-month low as concerns mounted of a further slowdown in growth. The pound sterling rose in the latest …

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• 16 August 2023 3:09 pm

  UK inflation fell to 6.8% in July

  

  Official data revealed on Wednesday that inflation in Britain slowed as expected in July to its lowest annual rate since February 2022, despite more indicators monitored by the Bank of England that reflect pressure on commodity and services prices. The Office for National Statistics said annual consumer price inflation slowed …

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• 16 August 2023 2:09 pm

  Oil is falling due to Chinese growth fears, despite the scarcity of US supplies

  

  Oil prices turned lower on Wednesday, extending the previous session’s 1 percent loss, as weak economic data from China outweighed tight US crude supplies. Brent crude futures fell 21 cents to $84.68 a barrel at 0249 GMT, while US West Texas Intermediate crude fell 20 cents to $80.79. Both benchmarks …

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• 16 August 2023 1:02 pm

  European stocks opened lower, affected by mining companies with exposure to China

  

  European stocks opened lower on Wednesday, with miners exposed to China leading losses after weak economic data from Beijing, while British stocks were pressured by a larger-than-expected headline inflation reading. And by 0708 GMT, the pan-European Stoxx 600 index was down 0.2%, after closing at its lowest level in more …

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• 16 August 2023 12:34 pm

  Japanese Nikkei index ended trading at its lowest level in more than two months

  

  The Japanese Nikkei index closed trading lower and reached its lowest level in more than two months, Wednesday, August 16, as expectations for the Chinese economy pressured risk appetite, including bank stocks, after a report on a possible downgrade of the rating of major US banks. The Nikkei index fell …

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• 16 August 2023 1:22 am

  Market Drivers – US Session, August 15

  

  The US Dollar Index exhibits obvious strength. It surged for the fourth day in a row on Tuesday, reaching its highest point in a month. With the help of rising risk aversion and a comeback in Treasury yields, the DXY was able to recoup its losses. Over 1% was lost …

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