Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 31 August 2023 2:16 am

  Market Drivers – US Session, August 30

  

  Gold rose for the third consecutive day, encountering resistance below $1,950. Lower yields and a weaker Dollar provided support for the precious metal. Silver reversed after reaching $25.00 and closed marginally lower at $24.60.The US Dollar Index fell for the third consecutive day, reaching the lowest close in two weeks, …

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• 31 August 2023 2:04 am

  Gold gains amid weaker US data

  

  With a three-day winning streak near $1,942 and almost 1.50% daily gains. The US reported weaker labour market figures, with ADP Employment Change increasing by 177,000 employed people, lower than expected.Jerome Powell emphasized restrictive monetary policy until cooling trends show a cooling trend. The US bond yields decreased to 4.88%, …

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• 31 August 2023 1:51 am

  How will US dollar react to PCE, NFP data?

  

  A significant data week is coming up with the release of the most recent PCE inflation estimates on Thursday and the August NFP report on Friday, which will signal the end of the summer. At 12:30 GMT, both reports will be made public. Following Fed Chair Jerome Powell’s speech on …

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• 30 August 2023 11:43 pm

  Euro benefits from lower than expected US jobs data

  

  Despite poor US GDP and employment market data, the EUR/USD pair is up 0.38 percent, suggesting that the Fed may delay raising interest rates. In addition to strengthening the Euro, the US Dollar Index declines to 103.187 as US Treasury note yields also retreat.German HICP surpasses expectations, supporting the Euro …

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• 30 August 2023 10:39 pm

  AUD/USD threatens 0.6500 as the US labour market softens

  

  The AUD/USD pair increased at 0.6490 and then held above the 0.6473 20-day SMA. At the time of writing, it is trading at 0.6474. Investors wager on a less aggressive Fed because the US labour markets are still weak. US bond yields hit a three-week low.The AUD/USD gained momentum on …

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• 30 August 2023 9:33 pm

  US stocks surge as recent data refuels hopes on Fed’s pause

  

  The major Wall Street indexes rose on Wednesday as new economic data revealed a slowing US economy, maintaining predictions that the Federal Reserve will hold off on raising interest rates in September. In August, private payrolls expanded by 177,000 jobs, versus predictions of 195,000, according to the ADP National Employment …

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• 30 August 2023 8:48 pm

  Bitcoin traders favour caution ahead of PCE data

  

  As traders look forward to the release of US Core PCE Price Index data on August 31, the price of bitcoin is fluctuating around $28,000. It is trading exactly at $27,247 at the time of writing. According to the general view, Core PCE inflation will increase by 0.1% and register …

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• 30 August 2023 7:36 pm

  Sterling soaring on accelerating hawkish BoE bets

  

  Investor expectations that the following policy divergence between the Fed and the BoE will end have given the British pound a boost. Investors continue to support the GBP/USD pair as they anticipate further interest rate increases from the BoE. The UK’s manufacturing industry and real estate market have suffered greatly …

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• 30 August 2023 4:44 pm

  US private sector employment rises 177,000 in August

  

  According to data released on Wednesday by Automatic Data Processing (ADP), private-sector employment in the United States increased by 177,000 in August. This result came in below the market expectation of 195,000 and following a 371,000 increase (revised from 324,000) in July. “Job stayers saw a year-over-year pay increase of …

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• 30 August 2023 3:33 pm

  US: Real GDP grows at an annual rate of 2.1% in Q2

  

  The US economy grew at an annual pace of 2.1% in the second quarter, falling short of the earlier estimate of 2.4%. According to the Bureau of Economic Analysis, “the updated estimates primarily reflected downward revisions to private inventory investment and nonresidential fixed investment, which were partially offset by an …

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• 30 August 2023 2:30 pm

  Indian Oil Minister: We will buy oil from all sources that provide it “at the lowest possible prices”

  

  India’s Oil Minister, Hardeep Singh Puri, told the media that his country would buy oil from all available sources at the “lowest possible prices”. India has been buying crude oil from Russia, now its biggest supplier, at discounts since the West imposed restrictions on imports from Moscow following its invasion …

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• 30 August 2023 1:33 pm

  European stocks rise with support from insurance companies

  

  European stocks rose at the open on Wednesday after positive results from Prudential Insurance supported the sector index, while investors awaited more important data to assess the strength of the economy in the region. By 0703 GMT, the European STOXX 600 index rose 0.1 percent after rising about 1 percent …

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• 30 August 2023 12:42 pm

  Dollar is recovering as investors await more indicators on the US Central Bank’s path

  

  The US dollar recovered from some of the sharp losses it incurred in the previous session, as investors awaited more data from the labor market for indications of the Federal Reserve’s policy path. The dollar index, which measures the performance of the US currency against a basket of six major …

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