Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 11 August 2022 7:43 pm

  EUR/USD retreats as US Dollar Index trims losses

  

  The US July PPI drops unexpectedly in July while jobless claims hit monthly highs. The US dollar remains in negative territory, even as US yields rise.The EUR/USD pair is up for the fifth consecutive day, holding under Wednesday’s top. The pair has failed to break Wednesday’s highs around 1.0355 and …

  Read More »
• 11 August 2022 6:59 pm

  Disney stock pops on earnings, surpasses Netflix subscribers

  

  Those who are looking for signs of a recession are advised not look at Disney’s earnings report or the performance of Disney plus, in particular. Disney plus is only 18 months old, a really incredible performer.Disney stock surged by 73% in its theme park revenue year over year and smashed …

  Read More »
• 11 August 2022 4:55 pm

  OPEC cuts full-year 2022 world oil demand growth forecast to 3.1 million bpd

  

  In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said that it lowered the 2022 full-year demand growth forecast to 3.1 million barrels per day (bpd) from 3.36 million bpd, as reported by Reuters.

  Read More »
• 11 August 2022 4:53 pm

  Weekly Initial Jobless Claims rise to 262K

  

  There were 262,000 initial jobless claims in the week ending August 6, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 248,000 (revised from 260,000) and came in slightly lower than the market expectation of 263,000. Further …

  Read More »
• 11 August 2022 3:46 pm

  The dollar records more losses after US inflation data

  

  The dollar recorded further losses against other major currencies on Thursday after traders reduced their bets that the Federal Reserve (the US central bank) would raise interest rates aggressively after US inflation data that came the previous day was weaker than expected. And the dollar index, which measures the performance …

  Read More »
• 11 August 2022 2:49 pm

  Gold falls amid signs of US interest rate hike

  

  Gold prices fell on Thursday from their highest levels in more than a month, as comments from Federal Reserve officials pointed to further interest rate hikes despite signs of easing inflation in the world’s largest economy. Gold is highly affected by rising US interest rates, because they increase the opportunity …

  Read More »
• 11 August 2022 2:35 pm

  Oil steadies after IEA raises demand growth forecast

  

  Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …

  Read More »
• 11 August 2022 12:59 pm

  European stocks open higher

  

  European shares started Thursday’s session higher to consolidate gains in the previous session after data showed signs of slowing inflation in the United States, while shares of Dutch insurance company Aegon rose after raising its full-year forecast. The pan-European Stoxx 600 index rose 0.4 percent after its best session in …

  Read More »
• 11 August 2022 12:00 pm

  Data: China’s auto sales jump 30% in July

  

  Auto sales in China rose 29.7 percent in July compared to a year ago to 2.42 million units, continuing the recovery that began in June, supported by the easing of Covid-19 restrictions and government incentives. Data released by the China Association of Automobile Manufacturers on Thursday showed that sales for …

  Read More »
• 11 August 2022 3:14 am

  Market Drivers – US Session – Wednesday August 10

  

  The US dollar fell following the release of US inflation reading. The dollar ended the trading day in the red territory against all major rival currencies. Safe-haven currencies edged higher against the US dollar, with USD/CHF now changing hands at 0.9426 and USD/JPY trading at 132.90. Gold was the worst …

  Read More »
• 11 August 2022 2:37 am

  Tesla’s software slammed by Ralph Nader as dangerous, irresponsible

  

  US politician Ralph Nader has issued a statement calling Tesla’s full self-driving technology “one of the most dangerous and irresponsible actions by a car company in decades.”Nader called on the National Highway Traffic Safety Administration (NHTSA) to use its safety recall authority to order that FSD technology be removed in …

  Read More »
• 11 August 2022 1:23 am

  Gold recovers on softer US dollar, less hawkish Fed bets

  

  Gold price is advancing towards $1,800.00 after a healthy correction. The precious metal trades at 1,792 at the time of writing amid a risk-on market sentiment that has infused fresh blood into the gold bulls.Cooler than expected US CPI has trimmed extremely hawkish Fed bets. Gold price has picked bids …

  Read More »
• 11 August 2022 12:12 am

  US dollar retreats on CPI data

  

  The dollar index was down 1.025% at 105.26 at 3:15 p.m. The US dollar broadly fell on Wednesday following a cooler than expected US inflation reading for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the American central bank. US consumer prices …

  Read More »