Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 24 August 2022 6:40 pm

  Gold prices marginally rise ahead of the “Jackson Hole” conference

  

  With a big deal of market volatility, gold prices have pushed to session highs. The housing market, an important pillar of US economic growth, continued to weaken as consumers bought fewer new homes than expected last month. The S&P Global flash PMI reading also has benefited the precious metal, which …

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• 24 August 2022 6:33 pm

  US durable Goods Orders unchanged in July

  

  New orders for manufactured durable goods orders in the US stayed virtually unchanged at $273.5 billion in July, the US Census Bureau reported on Wednesday. This reading followed June’s 2.2% expansion and came in worse than the market expectation for an increase of 0.6%. The publication further read. “Excluding defence, …

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• 24 August 2022 6:31 pm

  Wall Street falls as investors wait for signs of a rate hike

  

  Wall Street’s main indexes fell on Wednesday as recent economic data fueled fears of a slowdown ahead of the US Federal Reserve’s annual conference this week. The Dow Jones Industrial Average fell 10.58 points, or 0.03%, to 32,899.01 points. The Standard & Poor’s 500 index opened down 2.18 points, or …

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• 24 August 2022 4:20 pm

  Oil prices rise above $100 on OPEC+ production cuts talks

  

  Brent crude rose above $100 per barrel on Wednesday after Saudi Arabia indicated earlier this week that OPEC might consider cutting production in response to poor liquidity in the oil futures market. Global crude oil benchmarks were up on Wednesday, with Brent oil futures for October delivery gaining 1.03% to …

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• 24 August 2022 2:48 pm

  The dollar is rising and the euro is again approaching its lowest level in 20 years

  

  On Wednesday, the dollar made up for some data losses and rebounded towards recent peaks, while the euro remained under pressure amid growing recession fears fueled by a potential energy supply crisis. The dollar took a breather after disappointing surveys of the US manufacturing and service sectors revealed on Tuesday, …

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• 24 August 2022 1:30 pm

  Mining sector pushes European shares lower as energy crisis looms

  

  The sell-off in European shares continued on Wednesday, as investors worried about an energy crisis and bleak growth prospects, while hawkish comments from the US Federal Reserve on monetary policy further pressured sentiment. By 0716 GMT, the European Stoxx 600 index fell 0.2 percent, hovering near its lowest level in …

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• 24 August 2022 12:56 pm

  Gold falls as the dollar rises, amid anticipation of Jackson Hole

  

  Gold prices fell on Wednesday, August 24, in the United States of America, after hawkish statements from an official in the Federal Council surrounding the investors kept investors. And gold fell in direct transactions 0.1% to $ 1746.18 an ounce, the time at 07:12 GMT, after rising 0.7% in the …

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• 24 August 2022 12:10 pm

  Kuwaiti Oil Minister says his country has increased oil production in line with OPEC +

  

  On Wednesday, Kuwait’s official news agency said, citing the oil minister, that the country had increased crude oil production to 2.811 million b/d in line with the OPEC+ agreement. The minister added that years of underinvestment have resulted in spare capacity being extremely limited globally and that Kuwait will continue …

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• 24 August 2022 11:37 am

  Nikkei falls and closes at its lowest level in two weeks

  

  Japan’s Nikkei index hit its lowest closing level in two weeks on Wednesday, tracking Wall Street’s decline overnight after weak data. Still, gains in energy shares thanks to higher oil prices limited the losses. The Nikkei index fell 0.49 percent to 28,313.47 points, its lowest closing level since August 10, …

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• 24 August 2022 11:03 am

  Oil prices fall as fears ease that OPEC + production cuts soon

  

  Oil prices fell on Wednesday, after rising nearly 4 percent the previous day, due to easing fears that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, in the OPEC+ grouping, will soon cut production. Global benchmark Brent crude futures fell 40 cents, or 0.4 percent, to $99.82 …

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• 24 August 2022 2:43 am

  Market Drivers – US Session – Tuesday, August 23

  

  Some economists advise stock investors to completely forget about a dovish Fed and, instead, to get used to aggressive interest-rate hikes. The summer rally in stocks finally crossed the finish line, this week, as investors reconsidered an overly optimistic view that the US central bank would pivot away from outsized …

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• 24 August 2022 1:05 am

  Factories Impacted Most By UK Slowdown As Sterling Struggles

  

  The British pound fell to its lowest since mid-July against the dollar yesterday as soaring energy and a summer of strikes highlighted the UK cost of living crisis and intensified fears for more economic slowdown.last Friday, amid worries around Britain’s hot inflation and declining economy, the sterling recorded its biggest …

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• 24 August 2022 12:15 am

  Saudi Arabia Is Taming Oil Backwardation

  

  Analysts have warned that failure to reach a deal concerning crude oil output would mean that oil will continue to act as a runaway train, as even slowing demand growth would still also continue to squeeze the world’s spare capacity. Oil prices rallied on Tuesday while Saudi Arabia is warning …

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