Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 9 August 2023 3:40 pm

  European stocks rebound after Italy softened its position on the bank tax

  

  European stocks rose on Wednesday as Italian bank stocks recovered from heavy losses incurred in the previous session after the government softened its position on a new tax on banks. The Stoxx Europe 600 index rose 1 percent by 0705 GMT, touching its highest level in a week. The euro …

  Read More »
• 9 August 2023 1:08 pm

  Gold is rising from its lowest level in a month as dollar and bonds fall

  

  Gold prices rose on Wednesday from a one-month low hit in the previous session as the dollar and bond yields fell, a day before US consumer price data could provide clues about the path to raising interest rates. And by 0644 GMT, spot gold rose 0.3 percent to $ 1930.37 …

  Read More »
• 9 August 2023 12:13 pm

  Oil prices are falling due to Chinese data fueling concerns about demand

  

  Oil prices fell in early trading on Wednesday, as concerns about slowing demand from China, the largest crude importer, increased after negative trade data, outweighing concerns about shrinking global supply in light of production cuts from Saudi Arabia and Russia. Brent crude futures fell 17 cents, or 0.2 percent, to …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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. …

  Read More »
• 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 …

  Read More »
• 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% …

  Read More »