Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 10 August 2023 3:19 pm

  The Russian ruble fell to the lowest level in 16 months against the dollar

  

  The Russian ruble fell by more than two percent against the dollar on Tuesday, to its lowest level in more than 16 months, above 97, due to strong domestic demand for foreign currency. The ruble recovered on Monday to post intraday gains for the first time in August, but gave …

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• 10 August 2023 1:59 pm

  The unemployment rate in Türkiye rose to 9.6% in June

  

  Official data showed on Thursday that Turkey’s unemployment rate rose 0.1 percentage point month-on-month to 9.6 percent in June, while the underutilization rate of the labor force, after adjusting for seasonal factors, rose 1.7 percentage points to 24.2 percent. The workforce underutilization rate has decreased significantly since 2021, but has …

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• 10 August 2023 1:03 pm

  Gold near its lowest level in a month

  

  Gold prices hovered near a one-month low on Thursday, as investors awaited US inflation data that could determine the path the Federal Reserve will take on interest rates going forward. Gold increased 0.2 percent in spot transactions to $ 1,918 an ounce by 0337 GMT, but it is hovering near …

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• 10 August 2023 11:42 am

  Oil is falling amid anticipation of inflation data in America and fears of demand

  

  Oil prices fell on Thursday, after hitting multi-month highs in the previous session, as rising crude inventories in the United States and weak economic data from China added to concerns about global fuel demand. Brent crude fell nine cents, or 0.1 percent, to $87.46 a barrel by 0408 GMT, after …

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• 10 August 2023 2:35 am

  Market Drivers – US Session, August 09

  

  The Italian Ministry of Finance announced that it will cap the tax on net interest income on the most vulnerable assets at 0.1%. The markets received this official announcement with a positive response after investors in the banking sector stocks in the country saw that it comes within the framework …

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• 10 August 2023 1:41 am

  GBP/USD retreats ahead of US inflation, British GDP

  

  With important UK GDP statistics due on Friday, the Pound Sterling experiences little trading and continues to move below the 50-day EMA around 1.2724. The Bank of England’s attitude, meantime, is under pressure as market chances point to a rate hike in September at 85%, with the Bank Rate possibly …

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• 10 August 2023 12:19 am

  US oil inventory surges while Australia’s strike triggers LNG price jump

  

  US oil inventories surged in the week ending August 4, with crude oil inventories increasing by 5.851 million barrels, surpassing market expectations of -17.049 million barrels. Gasoline stocks declined by -2.661 million barrels, while oil derivatives and products inventories fell by -1.706 million barrels. The US production rate of oil …

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• 9 August 2023 11:49 pm

  EUR/GBP recovers amid stronger Euro

  

  The EUR/GBP pair recovered and keeps rising near 0.8630, seeing nearly 0.40% gains. The Euro is one of Wednesday’s top performers amongst its rival currencies.No relevant data will be released for either economy. Tightening expectations of BoE and ECB to dictate the pace. At the middle of the week, the …

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• 9 August 2023 10:57 pm

  Gold price is testing three-month low ahead of CPI data

  

  Following a brief bounce ahead of the key inflation data in the United States, looming CPI figure, gold price is under selling pressure. For additional direction, investors await US inflation data. The price of the precious metal, which is currently selling at $1917.71, has decreased by almost -0.40%. The price …

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• 9 August 2023 9:53 pm

  US CPI Preview: Forecasts by 10 major banks

  

  The US Bureau of Labour data will publish the US Consumer Price Index data, the most important measure of inflation, on August 10 at 12:30 GMT. As the publication date draws near, these are the forecasts given by the economists and experts of 10 major banks regarding the upcoming July …

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• 9 August 2023 8:59 pm

  Disney’s earnings slump on streaming concerns

  

  Big media firms have a conundrum, as evidenced by Disney’s quarterly earnings report: traditional TV still makes money but is losing ground, while streaming is expanding but remains unprofitable. In the third fiscal quarter, adjusted earnings per share decreased to $1.03, a 6% decrease from the same quarter the previous …

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• 9 August 2023 7:55 pm

  US stocks slide ahead of CPI data

  

  The tech-heavy Nasdaq and S&P 500 fell on Wednesday due to dovish comments by US Federal Reserve officials. Megacap growth and technology stocks, like Nvidia, Apple, and Tesla, shed between 0.6% and 2.5% in early trading. However, there has been some improvement in the Nasdaq, which coincides with profit taking …

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• 9 August 2023 4:59 pm

  Oil prices are rising amid concerns about Chinese demand

  

  Oil prices rose on Wednesday as lower supply as a result of production cuts by Saudi Arabia and Russia offset concerns about slowing demand from China, the world’s largest crude importer, and a report showing an increase in US crude inventories. And state media reported that the Saudi cabinet confirmed …

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