Noor Capital | Mohammed Hashad Interview on Dubai TV – November 21, 2022

Interviewed by Dubai TV, Mohamed Hashad, the Head of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented on the latest developments in financial markets, most notably, the following:

First: Oil

Hashad noted that there was an obvious decline in oil prices as last week’s closing, the said decline has been shown by the oil price chart, as crude oil prices fell to lowest level. Oil’ decline was partly due to reports from China about new covid-19 infections amounting to 25,000 cases.

Hashad also mentioned the latest report by the International Energy Agency showing a decline in global demand for oil until next year due to the relatively high cost to demand volume. In addition, most central banks are aggressively heading towards monetary tightening.


Second: Fed’s Tightening

Asked about the Fed’s interest rate hiking and the present hawkish stance, despite the fact that latest economic data revealed that hot inflation began to ease, how the Fed could react to such data, and whether fed’s policymakers could raise interest rates by 75 or 50 basis points in December’s FOMC meeting, Hashad said that the latest data is indicating that raising interest rates reaped its aimed outcome.


Inflation – The Current Situation

Hashad added that it has become obvious that the inflation rate is retreating, but it is still far from the target set by the Federal Reserve at 2%. There is also a clear rise in the US retail sales reading, and that is a signal that inflation is continuing.