Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 1 August 2023 2:22 am

  Market Drivers – US Session- August 1

  

  Crude oil prices surged for the third consecutive day and for the seventh time out of the last eight days. WTI got closer to $82.00 per barrel and posted its highest close since mid-April.The US Dollar posted mixed results on Monday, rising versus the Euro, the Pound, and the Yen …

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• 1 August 2023 1:56 am

  Could China Avoid Slower Economic Growth?

  

  China’s economic recovery is facing several challenges, including an ageing workforce, weak consumer demand, and a property market downturn. Analysts are drawing parallels with Japan, which experienced a slowdown after its asset-price bubble burst in 1989. Japan’s relaxed monetary policy in the 1980s triggered an economic bubble that eventually burst …

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• 1 August 2023 12:57 am

  Tighter standards, weaker demand for commercial loans in Q2 revealed

  

  The US central bank released the July 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) that “addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the second quarter of 2023.”The …

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July, 2023

• 31 July 2023 11:46 pm

  Earnings push Wall Street ahead to strong July

  

  US stocks closed with little change on Monday, ending a strong July on upbeat company earnings and hopes of a soft landing for a resilient US economy. All three major stock indexes ended with gains for the month, ahead of a busy week of earnings reports from companies including Amazon.com …

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• 31 July 2023 10:18 pm

  AUD rebounds on oil price, PMI data

  

  The Australian Dollar has rebounded after a depressing finish, possibly due to the surge in crude oil, Australia’s second-largest export. The AUD recovered against its US counterpart on Monday, rising up to a band of major Moving Averages in the 0.6700 zone. The Australian Dollar managed to shrug off downbeat …

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• 31 July 2023 8:56 pm

  US Dollar weakens ahead of US employment data

  

  The US dollar has slightly declined in value after significant gains against major currencies last week. However, the USD Index remains above 101.50, exactly reads 101.75 at the time of writing. This week’s high-level data releases, including the US jobs report, could affect the USD’s performance. The US economy grew …

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• 31 July 2023 7:47 pm

  OPEC oil output retreats by 840,000 bpd in July

  

  Crude oil prices continue to push higher following news reports confirming that crude oil output by OPEC declined by 840,000 barrels per day from June to July to 27.34 million bpd, according to Reuters’ recent survey.After this headline, and at the time writing, WTI crude is trading at its highest …

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• 31 July 2023 6:59 pm

  European stocks surge on declining Eurozone inflation

  

  The Stoxx Europe 600 Index rose 0.1% on Monday as new data showed the euro zone economy returned to growth in the three months through June and inflation fell.The combined gross domestic product of the 20 countries that use the euro grew at an annualized rate of 1.1% in the …

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• 31 July 2023 4:35 pm

  Positive data from Euro area

  

  Positive data from the Eurozone showed a growth in the GDP in the first reading of the second quarter at 0.6%, and a slowdown in inflation to levels of 5.3% in July. The Eurozone has been battling high inflation for the past year, which has prompted the European Central Bank …

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• 31 July 2023 2:55 pm

  Nikkei rose to the highest level in 4 weeks

  

  Japan’s Nikkei index rose on Monday to a four-week high, amid an improvement in investor sentiment on the back of calm in the bond market after the Bank of Japan’s sudden policy adjustment and optimism over slowing inflation in the United States. The results of some companies led to an …

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• 31 July 2023 12:41 pm

  European stocks fell ahead of Eurozone inflation data

  

  European stocks fell on Monday ahead of data expected to show inflation slowing in the euro zone in July, likely supporting expectations that the European Central Bank will keep interest rates unchanged in September. The pan-European Stoxx 600 index fell 0.1% by 0714 GMT, but looked set to record gains …

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• 31 July 2023 11:07 am

  Goldman Sachs adjusts its forecast for oil demand upwards

  

  Goldman Sachs revised upward its forecast for global oil demand for this year, but kept its 12-month Brent crude price forecast at $93 a barrel, as increased inventories offset the support demand received from ebbing pessimism about the growth outlook. Goldman Sachs analysts estimated a jump in global oil demand …

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• 31 July 2023 10:01 am

  Oil is heading for its biggest monthly gain in more than a year

  

  Oil prices hovered near a three-month high on Monday and were on track for their biggest monthly gain in more than a year amid expectations that Saudi Arabia will extend voluntary output cuts into September and global supplies tighten. By 0005 GMT, Brent crude futures fell 9 cents to $84.90 …

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