Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2023

• 23 August 2023 2:43 am

  Gold’s chance to rebound looks weak ahead of Jackson Hole

  

  Gold price was edging upward during the US trading session, despite the US Dollar’s strength. The rise and challenging XAU/USD price are supported by high US Treasury bond yields and a lack of support for depolarization among the BRICS bloc. Friday’s Jackson Hole Symposium is looked upon as the key …

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• 23 August 2023 1:24 am

  US, China in talks on challenges facing American businesses

  

  Before her journey to China the next week, US Commerce Secretary Gina Raimondo met with the Vice Foreign Minister and Chinese Ambassador late on Tuesday and had a “productive discussion.”US Commerce Secretary Raimondo also emphasized the significance for US businesses and workers while describing the meeting’s specifics.The news also states …

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• 22 August 2023 11:42 pm

  GBP/USD experiences losses amid risk aversion

  

  The GBP/USD pair experienced a 0.12% loss due to high US Treasury bond yields and global trade apprehensions. US Existing Home Sales dropped 2.2% in July, with limited inventory and high mortgage rates cited as causes. The Richmond Fed’s Manufacturing Index met expectations with -7, while the Services Index surprised …

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• 22 August 2023 10:57 pm

  USD/CHF advances as markets await a fresh catalyst

  

  Around 0.8800, the USD/CHF pair displays modest increases. Since early August, the price of the pair has been moving sideways. Thomas Barking of the Fed made some pessimistic remarks that helped the USD.Investors are anticipating Powell’s remarks on Friday and the US August PMIs on Wednesday. On Tuesday, the USD/CHF …

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• 22 August 2023 9:28 pm

  What can surplus jump tell about Eurozone’s economy?

  

  In June 2023, the Eurozone’s current account surplus reached €36 billion, a significant increase from €8 billion. This increase was attributed to surpluses in goods, services, and primary income, with a slight deficit in secondary income.However, the 12-month overview showed a minor deficit of €9 billion, compared to a significant …

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• 22 August 2023 8:47 pm

  US stocks gain with Nvidia in spotlight

  

  Early on Tuesday, the US stock markets were expected to begin higher thanks to expectations that chipmaker Nvidia would increase its gains ahead of its earnings announcement on Wednesday. Following reaching their greatest level in over 16 years, benchmark Treasury yields decreased.Futures for the Dow Jones Industrial Average increased by …

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• 22 August 2023 7:43 pm

  Fed’s Barkin: Won’t prejudge outcome of Fed’s September policy meeting

  

  Thomas Barkin, President of the Federal Reserve Bank of Richmond has emphasized the need for the Fed to be open to the possibility of the US economy reaccelerating rather than slowing, which could have implications for the central bank’s inflation fight. The US Dollar Index clings to daily gains above …

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• 22 August 2023 3:02 pm

  Turkish official agency: Foreign Minister will visit Ukraine on Friday

  

  Turkey’s official Anadolu news agency quoted diplomatic sources as saying that Foreign Minister Hakan Fidan will visit Ukraine on Friday. Turkish officials have repeatedly expressed their desire to mediate between Russia and Ukraine for the return of the grain export agreement through the Black Sea. Russia has imposed a blockade …

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• 22 August 2023 2:37 pm

  India’s imports of Saudi oil are at the lowest level in two and a half years

  

  Shipping data from commercial and industrial sources showed that India’s imports of crude oil from Russia fell in July for the first time in nine months, and shipments from Saudi Arabia fell to the lowest level in two and a half years after production cuts from OPEC +. China and …

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• 22 August 2023 1:21 pm

  European stocks rise with the rise of shares of chip makers

  

  European stocks rose in early trading on Tuesday, with technology stocks leading the gainers, with the rise of chip makers, supported by the rise of their counterparts on the Wall Street Stock Exchange on Monday night, amid anticipation of the announcement of the results of NVIDIA. The pan-European STOXX 600 …

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• 22 August 2023 12:03 pm

  The Nikkei index rose for the second session, supported by banking stocks and chips

  

  Japan’s Nikkei share average closed higher for the second straight session on Tuesday, with banking stocks surging on a jump in bond yields and chip-related stocks trailing their Wall Street peers. The Nikkei index rose 0.92 percent to close at 31,856.71 points. Among the 225 stocks on the index, 185 …

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• 22 August 2023 11:22 am

  Oil is falling due to a possible increase in Iraqi supplies and concerns about demand

  

  Oil prices fell on Tuesday as the market waited to see if Iraqi exports through the Turkish port of Ceyhan would resume, which could ease supply tightness caused by OPEC+ cuts, while China’s ailing economy still overshadowed the global demand outlook. By 0241 GMT, Brent crude fell eight cents to …

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• 22 August 2023 4:47 am

  Market Drivers – US Session, August 21

  

  Although a sparse macroeconomic calendar kept key pairs at known levels, the US dollar lost some gain on Monday. While government bond yields increased, reflecting the prevailing cautious approach, market sentiment remained negative. Investors’ concerns that global central bankers will continue their monetary tightening programmes to control inflation caused the …

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