Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 8 August 2023 2:12 am

  WTI reverses gains on softer US, Chinese demand

  

  The end of summer vacations in the US has led to lower demand for oil, with China’s recovery after lifting strict Covid-19 measures diminishing demand. Saudi Arabia and Russia’s extended crude oil production have cushioned WTI’s price drop, causing it to trade at $82.45, below its opening price of $83.26.The …

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• 8 August 2023 12:59 am

  US bond yields surge after mounting interest rate expectations

  

  Yields on the US benchmark bonds rose as a result of investors’ focus in financial markets on the next batch of inflation data in the United States, as the Consumer Price Index readings appear amid expectations of an increase in the annual reading that appears this week.Pushed by mounting expectations …

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• 7 August 2023 11:44 pm

  US stocks finished higher ahead of key CPI data

  

  As investors raised positions in anticipation of Thursday’s US inflation report, US stocks ended the day higher on Monday, making up ground lost during the previous week. Due to concerns over deteriorating economic data, inconsistent results, and rising Treasury yields, the major stock indices closed last week lower as investors …

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• 7 August 2023 10:21 pm

  BoE’s Pill: Latest data points to more persistent inflation

  

  Huw Pill, the chief economist at the Bank of England, stated on Monday that there are dangers associated with UK inflation on both sides. He predicts that during the first half of 2025, inflation will most likely revert to the target level. By the end of the current year, he …

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• 7 August 2023 9:41 pm

  Could Germany fall back in recession on sputtering car industry?

  

  Germany’s industrial production tumbled in June, in large part due to a drop in automotive output. Germany’s industrial production tumbled in June, in large part due to a drop in automotive output.The epidemic and the clogged supply chains have taken a toll on the German auto industry, which makes up …

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• 7 August 2023 8:46 pm

  Fed’s Bowman: US economy still needs ‘multiple’ rate hikes

  

  Fed Governor Michelle Bowman cautioned that numerous rate hikes may be necessary to return inflation to healthy levels in two speeches she gave on Saturday and Monday.Bowman, a senior Fed official, is pushing back against growing hopes on Wall Street that the central bank could be nearly done raising interest …

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• 7 August 2023 7:49 pm

  Gold price looks puzzled ahead of awaited US inflation data

  

  Despite caution ahead of US CPI, the gold price rises as the US dollar corrects to US CPI. The imminent release of the Consumer Price Index (CPI) statistics for the United States on Thursday has encouraged the gold price to try to recover. The impact of a slowdown in business …

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• 7 August 2023 5:04 pm

  Wall St set to kick off week higher; U.S. inflation in focus

  

  Following a tumultuous week, Wall Street was expected to open higher on Monday, with investors looking ahead to a highly anticipated U.S. inflation report due later in the week, which could put the market’s strong comeback this year to the test. On Friday, the major stock indexes finished the week …

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• 7 August 2023 3:09 pm

  Oil continues its gains and hovers at the highest level in 4 months

  

  Oil prices continued their gains on Monday, August 7, to touch their highest levels since mid-April, after Saudi Arabia and Russia, two of the major oil producers, pledged to continue cutting supplies for another month, aiming to continue balancing global markets and supporting prices. By 00:23 GMT, Brent crude futures …

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• 7 August 2023 2:18 pm

  German Industrial Production falls 1.5% MoM in June

  

  Official data released on Monday showed that industrial production in Germany declined more than predicted in June, indicating that manufacturing sector activity is weakening. The industrial output of the Eurozone’s economic powerhouse fell 1.5% month on month, according to the federal statistics body Destatis, compared to -0.4% predicted and -0.1% …

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• 7 August 2023 1:54 pm

  Eurozone Sentix Investor Confidence Index improves to -18.9 in August

  

  Investor Confidence in the Eurozone rose to -18.9 in August from -22.5 in July, according to Eurozone Sentix. The market expected a result of -23.4. “Germany, in particular, has become the sick man of the Eurozone and is weighing heavily on the region,” Sentix Managing Director Patrick Hussy said in …

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• 7 August 2023 1:21 pm

  European stocks decline as investors await inflation data

  

  European stocks fell Monday, August 7th at a time when investors are assessing the potential impact of a US jobs report on future monetary policy moves in the United States, and they are also anticipating important data on inflation from several countries around the world this week. And by 07:03 …

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• 7 August 2023 12:25 pm

  Japanese Nikkei index reversed the trend and closed higher

  

  Japan’s Nikkei index reversed course to close higher on Monday as investors changed their outlook after local companies posted strong earnings, and Astelas Pharmaceuticals rose after a drug it produces received US approval. The Nikkei index rose 0.19 percent to close at 32,254.56 points, after falling at the beginning of …

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