Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 15 August 2024 10:10 pm

  World’s Largest Oil Platform Built By China

  

  The recent construction of the world’s largest offshore oil platform by China for Saudi Arabia’s Marjan field is a striking testament to the enduring significance of fossil fuels in the global energy landscape. This behemoth, capable of producing millions of barrels of oil daily, stands in stark contrast to the …

  Read More »
• 15 August 2024 9:08 pm

  Bitcoin’s Wobbly Recovers As Market Uncertainty Persists

  

  Bitcoin’s recent price action has been characterized by volatility and indecision. After a sharp decline of 3.06% in the past 24 hours, the world’s largest cryptocurrency managed to recoup some losses, hovering around the $59,000 level. While short-term technical indicators suggest a potential upward move towards the $60,000 resistance, the …

  Read More »
• 15 August 2024 7:56 pm

  Gold declines following US Retail Sales Data

  

  Gold price retreated from its intraday high of $2,470 after upbeat US Retail Sales data for July. Traders are widely anticipating the Fed will begin reducing interest rates from September. The July US CPI data boosted confidence that price pressures will return to the desired 2% rate. The US Census …

  Read More »
• 15 August 2024 6:21 pm

  Fed Official Signals Potential Rate Cut in September

  

  St. Louis Fed President Alberto Musalem has joined a growing chorus of Federal Reserve officials leaning towards a potential interest rate cut at the central bank’s September meeting. In a speech on Thursday, Musalem indicated that the time may be nearing for an adjustment to the benchmark interest rate.The official …

  Read More »
• 15 August 2024 12:14 pm

  European Shares Climb on U.S. Rate Cut Hopes, Admiral’s Strong Earnings Boost

  

  European shares opened higher on Thursday as favorable inflation data reinforced expectations of a U.S. rate cut in September, while a strong earnings report from insurer Admiral added to the positive market sentiment. By 0710 GMT, the pan-European STOXX 600 index had risen 0.2%, approaching a two-week high and marking …

  Read More »
• 15 August 2024 10:44 am

  Oil Prices Edge Higher Amid Rate Cut Hopes and Geopolitical Tensions

  

  Oil prices rose on Thursday, bolstered by optimism that potential U.S. interest rate cuts could stimulate economic activity and increase fuel consumption. However, concerns over sluggish global demand limited the gains. By 0348 GMT, Brent crude futures were up 17 cents, or 0.21%, at $79.93 a barrel, while U.S. West …

  Read More »
• 15 August 2024 4:18 am

  Market Drivers; US Session, August 14

  

  The US dollar weakened again today as continued signs of cooling inflation diminished expectations for further interest rate hikes. The Dollar Index fell to its lowest level in several days as July’s CPI data reinforced the trend of declining inflation.Key economic indicators will be released today in the US, including …

  Read More »
• 15 August 2024 4:06 am

  Price Outlook: Four factors could push oil higher, including inflation data

  

  Even if oil prices have dropped recently, there are some encouraging signs that can help them rise once again in the near future. The aforementioned factors encompass geopolitical conflicts, global demand, and additional economic conditions-related factors. The negative effect from OPEC’s reduction of its forecasts of global oil demand last …

  Read More »
• 15 August 2024 2:12 am

  Cisco cuts 7% workforce by 7%, reports Q3 earnings

  

  Cisco reported its third consecutive quarter of declining revenue, marking its first full fiscal year drop since 2020. The company is cutting 7% of its global workforce, with earnings and revenue topping analysts’ estimates. Cisco announced in a filing that it will implement a restructuring plan that will result in …

  Read More »
• 15 August 2024 12:12 am

  IS CPI Cooling a Green Light for Fed’s Rate Cut?

  

  The Consumer Price Index Report for July represented the awaited last obstacle to be overcome before the Federal Reserve cuts interest rates in September, just before their most recent meeting. Though even if the CPI figure is on the strong side, weaker-than-expected labour-market data since then indicates a drop is …

  Read More »
• 14 August 2024 11:44 pm

  Dow Rallies After US CPI Report

  

  Investors may almost be certain that the Federal Reserve will drop interest rates initially next month—perhaps not dramatically. This is based on the most recent inflation data.In the 12 months leading up to July, the consumer price index indicated 2.9% growth in prices, which was less than the 3% forecast …

  Read More »
• 14 August 2024 10:29 pm

  US inflation hits lowest level in three years

  

  US inflation has hit its lowest level in three years on an annual basis in July, setting the Federal Reserve to cut interest rates soon to take pressure off the economy. This reading was the clearest indication yet that inflation is heading back to normal levels from 40-year highs without …

  Read More »
• 14 August 2024 8:36 pm

  Oil Prices Fluctuate Amid Middle East tensions

  

  A surprising increase in US commercial crude oil inventories has ignited market speculation as geopolitical tensions simmer in the Middle East. The US Energy Information Administration reported a 1.4-million barrel build in oil stockpiles for the previous week, a stark contrast to the American Petroleum Institute’s estimate of a 5.2 …

  Read More »