Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 10 August 2022 9:58 pm

  Bitcoin Jumps On US Inflation Data

  

  The price of Bitcoin (ETH), the leading cryptocurrency, surged to an intraday high of $24,010 on the Bitstamp exchange at 12:48 a.m. UTC. Ethereum (ETH) and other top altcoins also spiked sharply higher. Crypto markets responded favourably after the slower than expected CPI reading, which takes pressure off the Federal …

  Read More »
• 10 August 2022 9:09 pm

  Atlanta Fed GDPNow for Q3 surges to 2.5%

  

  According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.5% in the third quarter, up from 1% in the previous estimate.Atlanta Fed explained in its publication that after recent releases from the US Bureau of Labor Statistics …

  Read More »
• 10 August 2022 8:31 pm

  Indian companies swapping dollar for Asian currencies to buy Russian coal

  

  Indian companies are moving towards several Asian currencies more often to be able to pay for Russian coal imports, according to customs documents and industry sources. Most companies do avoid the US dollar and cut the risk of breaching Western sanctions against Moscow.One large Indian coal deal involves the Chinese …

  Read More »
• 10 August 2022 7:51 pm

  BOE’s Pill: Wage growth running too fast at present

  

  Bank of England Chief Economist Huw Pill said on Wednesday that wage growth in the UK is running too fast at present, as reported by Reuters.These comments don’t seem to be having a noticeable impact on the British pound’s performance against its major rivals. As of writing, the GBP/USD pair …

  Read More »
• 10 August 2022 7:09 pm

  Joe Biden: Seeing some signs of inflation moderating

  

  US President Joe Biden said on Wednesday that Americans are seeing some signs that inflation may be moderating. “We could face additional headwinds in the months ahead,” Biden added. “We still have work to do but we’re on track.”Earlier in the day, the data published by the US Bureau of …

  Read More »
• 10 August 2022 5:55 pm

  US stocks shot higher after inflation data

  

  US stock indexes opened trading on Wednesday, August 10, with the release of inflation data for the month of July, which came less than expected. At the beginning of the session, the Dow Jones index jumped by 1.36% to 3321.8 points, the Nasdaq rose by 2.22% to 12,768 points, and …

  Read More »
• 10 August 2022 4:35 pm

  US annual CPI inflation declines to 8.5% in July vs. 8.7% expected

  

  Inflation in the United States, as measured by the Consumer Price Index (CPI), declined to 8.5% on a yearly basis in July from 9.1% in June, the data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in lower than the market expectation of 8.7%. …

  Read More »
• 10 August 2022 3:33 pm

  SoftBank to book $34 bln gain by cutting Alibaba stake to 14.6%

  

  SoftBank Group Corp on Wednesday said it will book an estimated gain of 4.6 trillion yen ($34.08 billion) on settling prepaid forward contracts using shares in Alibaba Group Holding, reducing its stake to 14.6% from 23.7%. SoftBank on Monday booked a record quarterly net loss due to sliding valuations at …

  Read More »
• 10 August 2022 2:44 pm

  Oil falls on Druzhba pipeline news, US inflation expectations

  

  Oil prices fell on Wednesday, amid expectations that flows will resume through the Druzhba pipeline soon, and concerns about demand ahead of the release of major indicators regarding it. Brent crude futures were down 73 cents, or 0.76 percent, at $95.58 a barrel by 0928 GMT. US West Texas Intermediate …

  Read More »
• 10 August 2022 1:59 pm

  Unemployment in Turkey fell to 10.3% in June

  

  The unemployment rate in Turkey fell to 10.3% last June from 10.9% in May, according to data from the Turkish Statistical Institute today, Wednesday, August 10. Data on Wednesday showed that the Turkish unemployment rate fell 0.3% in June compared to the same month last year. The number of unemployed …

  Read More »
• 10 August 2022 1:08 pm

  Inflation in China rises to the highest level in two years

  

  Inflation in China rose in July to a two-year high, although weak consumer demand kept overall price pressures in check. The data of the National Bureau of Statistics released today, Wednesday, showed that the consumer price index rose by 2.7% on an annual basis during July, while it was expected …

  Read More »
• 10 August 2022 12:01 pm

  Nikkei falls, dragged down by chip stocks

  

  Japan’s Nikkei fell on Wednesday, dragged down by chip-related shares after technology company Micron led the decline in US technology shares Tuesday night, while investors awaited data that could influence the Federal Reserve’s tightening path. The Nikkei closed down by 0.65 percent at 27,819.33 points, and the broader Topix index …

  Read More »
• 10 August 2022 3:24 am

  Market Drivers – US Session – Tuesday, August 9

  

  All market players are standing on their toes to find clues and directions from the most awaited US inflation data to be released on Wednesday. The US dollar extended its weekly decline throughout the first hours of the trading session, but later the dollar managed to recover some ground during …

  Read More »