Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 15 August 2022 8:40 pm

  Aramco’s Profit Jumps 90 Percent On Higher Crude Prices

  

  The giant Saudi oil producer said it earned nearly $50 billion last quarter, the latest energy company to record outsize profits after the surge in crude prices since Russia’s invasion of Ukraine in February.Aramco announced that its second-quarter profit jumped 90 percent over the same period a year ago, reaching …

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• 15 August 2022 7:47 pm

  Retail Companies’ Earnings Expected To Depict Inflation Real Status

  

  When Walmart and Target report their quarterly earnings this week, investors will gain some insight into how big retail is handling inflation—and stocks across the sector will likely feel the aftershocks.The two companies are important bellwethers for the retail industry and consumer spending. And in recent months, both Walmart and …

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• 15 August 2022 7:19 pm

  Gold Price Forecast: XAU/USD bulls struggle around 50 DMA on the road to recovery

  

  Gold Price breaches the critical 50 DMA at $1,782 despite falling yields. China data-led triggers risk-aversion, boosts the safe-haven US dollar. The Gold Index remains exposed to testing the bullish 21 DMA on a daily closing below 50 DMA.Gold Price is deep in the red during the US session, as …

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• 15 August 2022 6:11 pm

  House prices in Britain are falling at the highest rate in more than two years!

  

  Recently released data indicated that the prices of new properties offered for sale in the United Kingdom decreased, at the highest pace in nearly two and a half years, by 1.3% in August. This led to a decline in the pace of real estate price growth in Britain from 9.3% …

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• 15 August 2022 6:01 pm

  Gold Slides On NY Fed’s Manufacturing Index Reading

  

  The gold market is not seeing much reaction to the latest economic data as it tries to hold support around $1,800 an ounce. December gold futures last traded at $1,796.30 an ounce, down 1% on the day. At the time of writing, gold price even deteriorates to $1778.71. With a …

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• 15 August 2022 3:57 pm

  Turkey’s public budget deficit doubles to 64 billion liras in July

  

  Turkey’s public budget deficit doubled to 64 billion Turkish liras in July, and Turkey’s general budget data showed a deficit of 31 billion liras in June, according to Treasury and Finance Ministry data. Turkey suffers from a significant rise in the inflation rate, as it recorded 79.6% in July, up …

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• 15 August 2022 2:18 pm

  Dollar rises after China data, yuan falls due to interest rate cut

  

  The safe-haven US dollar rose on Monday after a fresh batch of disappointing data from China reinforced fears of a global recession. At the same time, the yuan fell after the People’s Bank of China surprisingly cut interest rates. Chinese industrial production, retail sales and fixed asset investment missed analysts’ …

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• 15 August 2022 1:29 pm

  Gold falls with the rise of the dollar and fears of raising US interest rates

  

  Gold prices fell on Monday as the dollar rebounded amid expectations that the Federal Reserve will raise interest rates sharply, adding to pressure on the yellow metal. And gold fell in spot transactions 0.6 percent to $ 1791.33 an ounce by 0704 GMT, after rising by about 1.6 percent last …

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• 15 August 2022 12:37 pm

  European stocks rise, weak Chinese data raises concerns

  

  European shares rose on Monday, boosted by fresh gains in healthcare shares. At the same time, signs of a slowing Chinese economy sparked a flight to sectors such as telecoms and important consumer products that are usually seen as immune to economic cycles. The pan-European Stoxx 600 index rose 0.3 …

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• 15 August 2022 11:35 am

  Nikkei hits 7-month high on Wall Street optimism and strong earnings

  

  Japan’s Nikkei index jumped on Monday to its highest level in more than seven months, buoyed by Wall Street’s gains at the end of last week, as strong corporate earnings increased risk appetite and prompted investors to snap up falling stocks. The Nikkei rose 1.14 percent to 28,871.78 points, extending …

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• 15 August 2022 11:06 am

  Japan’s GDP expands 0.5% QoQ in Q2

  

  Japan’s economy rebounded firmly by 0.5% in the second quarter after contracting 0.1% in the first, with economists forecasting quarterly growth of 0.6%. On an annualized basis, the world’s third-largest economy grew 2.2% against 2.5% expected and a -0.5% contraction recorded in the previous quarter. The country’s GDP deflator arrived …

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• 15 August 2022 10:33 am

  Oil prices fall for the second session, and Aramco says it is ready to increase production

  

  Oil prices fell for a second session on Monday after the CEO of Saudi Aramco, the world’s largest exporter, said the company was ready to increase production, as production resumed at several US offshore platforms in the Gulf of Mexico after a brief break last week. Brent crude futures were …

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• 14 August 2022 12:26 am

  Financial Markets’ Weekly Recap, August 8-12

  

  August is historically the dullest month of the year for financial markets, but all five trading days (August 8-12) witnessed important market news and economic data that had a significant impact on almost all assets. The influence of the week’s economic data could continue into the future. The CPI report …

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