Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 17 May 2022 12:38 pm

  Japan’s Nikkei rises for a third day on optimism about China

  

  Japan’s Nikkei index closed higher for the third consecutive session on Tuesday, as optimism over the end of the lockdown imposed to combat COVID-19 in China, Japan’s main trading partner, outweighed the disappointing financial results. The Nikkei index witnessed volatile trading, before closing up 0.42 percent at 26,659.75 points, after …

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• 17 May 2022 5:37 am

  Market Drivers – US Session – May 16

  

  The US dollar briefly edged higher at the beginning of the week but closed with modest losses against most rival currencies as equity markets changed direction. European indexes closed mixed, but Wall Street managed to post gains. Safe-haven currencies posted modest gains against the US dollar as well.Economic DataThis week, …

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• 17 May 2022 5:11 am

  US: Retail Sales rise by 0.9% MoM in April

  

  US Retail Sales rose at a pace of 0.9% MoM in April, in line with the expected pace of 0.9% but slower versus the previous month’s 1.4% MoM pace of gain (which had been revised up from 0.7%), data released by the US Census Bureau on Tuesday revealed. YoY, sales …

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• 17 May 2022 5:08 am

  Stronghold Surpasses Q1 Revenue Estimates

  

  The bitcoin miner, Stronghold known for using waste coal for energy, had its shares retreating slightly in after-hours trading.Stronghold reported Q1 revenues of $28.7 million versus estimated $26.2 million. But its adjusted net loss of 66 cents per share exceeded the consensus estimate for an adjusted net loss of 8 …

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• 17 May 2022 4:56 am

  Poll: ECB to hike deposit rate 25 bps in July

  

  “The European Central Bank (ECB) is expected to raise the deposit rate for the first time in over a decade in July and bring it out of negative territory at its following meeting in September, despite a 30% chance of recession within a year,” per the latest Reuters poll of …

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• 17 May 2022 4:12 am

  US shares slide as slowdown signals digested

  

  The S&P 500 dropped, dragged lower by a slide in megacaps including Tesla Inc., Amazon.com Inc. and Apple Inc. The risk of an economic slowdown amid price pressures and rising borrowing costs is still the major concern for markets.Equities fell back toward session lows in the last hour of trading …

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• 17 May 2022 2:23 am

  GBP/JPY Eases, Eying UK Jobs Data

  

  The GBP/JPY has faded from a two-day rebound near 159.00 as traders await UK data during Tuesday’s Asian session. The cross-currency pair remains inside a one-month-old descending trend channel formation, recently firmer around the 50% Fibonacci retracement (Fibo.) of December 2021 to April 2022 upside.The GBP/JPY pair’s breakout of 50% …

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• 17 May 2022 1:30 am

  Former Fed chair warns of stagflation crisis

  

  The former Federal Reserve chairman warned of a coming economic morass in the next decade. Former Fed Chair Ben Bernanke warns in his new book that the United States could face simultaneous sky-high unemployment and inflation on levels not seen since the 1970s.Bernanke, who ran the US central bank from …

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• 16 May 2022 11:36 pm

  European woes undermine demand for EUR/USD

  

  Geopolitically; EU ministers cannot reach an agreement on new sanctions against Russia as ECB’s Lagarde and Fed’s Powell get ready to deliver their speeches on Tuesday, meanwhile the EUR/USD pair holds modest gains above 1.0400, corrective advance could extend to 1.0470.The EUR/USD pair ended Monday achieving modest gains in the …

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• 16 May 2022 10:49 pm

  Silver rallies above $21.50 on sliding Treasury yields

  

  Silver price is rallying more than 2% in the day amidst falling US Treasury yields. Market sentiment has improved during the US session, a headwind for the dollar.Silver holds ground for the last two trading days and advances firmly in the US session, almost 2% up, and is closing at …

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• 16 May 2022 10:13 pm

  GBP/USD targets upside correction

  

  The GBP/USD is higher by 0.17% in midday US trading session, pulling away from the consolidation between 1.2150 and 1.2250 after travelling from a low of 1.2216 to a high of 1.2296 so far on the day. Global growth concerns have been the main focus at the start of the …

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• 16 May 2022 9:28 pm

  Treasury yields slide on global slowdown concerns

  

  Treasury yields were little changed to lower Monday morning as weak factory data in the US and an unexpectedly big drop in retail sales in China reinforced concerns about a global slowdown.Weak data from China also underscored worries about a demand slowdown, sending oil futures lower in the New York …

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• 16 May 2022 8:42 pm

  Fed has new plan to avoid recession

  

  Earlier this month Fed Chair Jerome Powell announced a half-percentage-piont increase in interest rates, the largest hike in over two decades. Powell also indicated that he wouldn’t hesitate to do it again — a move straight out of the central bank’s 1994 playbook, when the Fed last tempered the US …

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