Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 17 August 2023 9:24 pm

  NZD/USD snaps losses post FOMC minutes, RBNZ decision

  

  After losing for a second week in a row, the NZD/USD pair is trading unchanged at 0.5933. Following hawkish FOMC minutes, US Treasury yields are slightly rising. According to RBNZ Governor Orr, a slight recession is necessary.The NZD/USD traded with little losses near 0.5930 on Thursday. On the one hand, …

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• 17 August 2023 7:49 pm

  USD/JPY weakens amid rising US yields, global economic fears

  

  The USD/JPY hits YTD highs of 145.56 but trades softer at 146.12, marking a 0.15% decline. Economic concerns in China, including the fears of economic slowdown in consumption, property market troubles, and shadow banking issues, weigh on global sentiment.US Initial Jobless Claims are slightly better than expected, while the Philadelphia …

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• 17 August 2023 4:30 pm

  Oil rises as China seeks to allay economic concerns

  

  Oil prices rose on Thursday after China’s central bank sought to rein in mounting pessimism about the country’s real estate market and broader economy. Prices fell in the previous session, fueled by concerns about the impact of fuel demand on a major crisis in the real estate sector that impedes …

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• 17 August 2023 2:14 pm

  Morgan Stanley cuts its forecast for the growth of the Chinese economy in 2023 to 4.7%

  

  Morgan Stanley has joined a group of major banks and brokerages in lowering forecasts for China’s economic growth for this year after a series of disappointing data and concerns about the ailing real estate sector there. According to a note issued by the bank on Wednesday, it now expects China’s …

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• 17 August 2023 12:55 pm

  Nikkei falls amid expectations of a US rate hike and concerns about China’s recovery

  

  Japan’s Nikkei index closed just above its lowest level in 2-1/2 months on Thursday, as worries about a stalled economic recovery in China and prospects of a US interest rate hike affected investor sentiment in Asia. The Nikkei index fell nearly 1.5 percent to 31,309.68 points, the lowest level since …

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• 17 August 2023 12:30 pm

  European stocks decline as the minutes of the US Central Bank meeting pressure on market sentiment

  

  European stocks fell on Thursday, pressured by a drop in BAE Systems after it agreed to buy the aerospace unit of Bull Corp, while minutes from the Federal Reserve’s July meeting weighed on sentiment as they raised concerns about interest rates staying higher for longer. By 0713 GMT, the pan-European …

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• 17 August 2023 11:46 am

  Gold is at its lowest level in 5 months, with the rise of the dollar and US bond yields

  

  Gold prices touched a five-month low on Thursday as the dollar and US Treasury yields gained momentum after recent strong economic data boosted expectations that the Federal Reserve will continue to tighten monetary policy. The price of gold in the spot market was $ 1891.70 an ounce by 0141 GMT, …

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• 17 August 2023 11:02 am

  The drop in oil due to weak growth in China and fears of raising US interest rates

  

  Oil prices fell in early trading on Thursday, continuing to decline for the fourth consecutive session, amid fears that slowing growth in China and a possible hike in interest rates in the United States will lead to a decline in fuel demand in the two largest economies in the world. …

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• 17 August 2023 2:44 am

  Market Drivers – US Session, August 17

  

  With surging Treasury yields and risk aversion, the US dollar keeps getting stronger. Nearing 103.50, the DXY index climbed to its highest point since June and extended its winning streak to five days. The momentum of the dollar is still strong notwithstanding this rebound.According to the FOMC minutes, several members …

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• 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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