Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 12 May 2022 10:45 pm

  Gold Retreats On Stronger USD

  

  Gold price is losing 1.60% on Thursday, falling from a high of $1,858.87 to a fresh cycle low of $1,822.27. The US dollar is bid and climbed to fresh two-decade highs on Thursday as investors flock to the safe-haven currency in the face of surging inflation.Wednesday’s data bolstered market’s expectations …

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• 12 May 2022 9:08 pm

  Yellen concerned about Treasury market functioning

  

  US Treasury Secretary Janet Yellen mentioned on Thursday that the Financial Stability Oversight Council (FSOC) is concerned about the functioning of the Treasury market. While Yellen testifies, stocks erased gains printing fresh YTD lows and the dollar strengthened. The DXY is at multi-year highs above 104.70. The 10-year US yield …

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• 12 May 2022 8:16 pm

  Wells Fargo: US Dollar Can Strengthen Further Against G10 Currencies

  

  Wells Fargo’s analysts believe that the US dollar can strengthen against G10 and emerging market currencies. They consider the aggressive monetary policy tightening from the Fed, safe haven capital flows as well as markets that are mis-priced for interest rate hikes abroad should all result in a stronger greenback going …

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• 12 May 2022 7:29 pm

  USD/CAD Stabilizes Amid Global Risk Appetite

  

  The USD/CAD pair has stabilized just below multi-month highs in the low 1.3000s on Thursday, as a downturn in global macro risk appetite coupled with the strong performance of the safe-haven US dollar offered the pair support.Both US CPI and PPI data over the past two days showed an (as …

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• 12 May 2022 4:40 pm

  US: Weekly Initial Jobless Claims rise slightly to 203K vs. 195K expected

  

  There were 203,000 Initial Jobless Claims in the week ending on 7 May, a little above the expected drop to 195,000 from 202,000 one week ago, data released by the US Department of Labour on Thursday showed. 

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• 12 May 2022 2:05 pm

  European shares fall after Wall Street declines on interest rate hike fears

  

  European shares fell on Thursday, pulled down by steep losses on Wall Street overnight, after US inflation data fueled concerns about the impact of higher interest rates on economic growth. The pan-European Stoxx 600 index fell 1.7 percent, losing many of the gains it made in the middle of the …

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• 12 May 2022 12:46 pm

  Japanese stocks close at their lowest level in nearly two months

  

  Japan’s Nikkei fell to its lowest level in nearly two months on Thursday, after major technology stocks followed in the footsteps of their US counterparts, which fell sharply overnight. The Nikkei fell 1.77 percent to close at 25,748.72 points, its lowest since March 15. The broader Topix index fell 1.19 …

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• 12 May 2022 11:50 am

  European markets decline as inflation rises in The US

  

  European shares fell sharply Thursday, May 12th, as global markets digested the latest inflation reading from the United States, and this reading raised fears that there is a tendency for prices to rise significantly in the future. The pan-European Stoxx 600 Index is down 2.2% in early trading, with all …

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• 12 May 2022 11:08 am

  Oil falls more than 1%, affected by fears of economic recession

  

  Oil prices fell more than 1% on Thursday in a volatile week, as economic concerns and fears of a recession weighed negatively on global financial markets, outweighing concerns about supplies and tension in Europe. Brent crude futures fell $1.25, or 1.2 percent, to $106.26 a barrel by 0303 GMT. US …

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• 12 May 2022 10:03 am

  Gold rises as the dollar falls after US inflation data

  

  Gold resumed its rally on Wednesday after a brief decline due to the release of US inflation data, with the dollar falling after data showing a slight slowdown in US consumer price growth. Spot gold rose 0.8% to $1,852.65 an ounce, and US gold futures rose 0.7% to settle at …

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• 12 May 2022 3:50 am

  Market Drivers – US Session – Wednesday 11 May

  

  The US dollar closed with gains against most major rival currencies, although price action was choppy across the market. Economic DataThe US dollar rallied after the release of CPI data at 8.3%, higher than the estimates. The monthly figure was up 0.3% against the 0.2% expected. Finally, the annual core …

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• 12 May 2022 3:36 am

  WTI Settles Higher After Two-day Nosedive

  

  The West Texas Intermediate (WTI) for June delivery has added 1.51 US dollars to briefly touch USD 109.77 per barrel on the New York Mercantile Exchange, later in the day the American crude oil settled at USD 105.71. Oil closed with strong gains on Wednesday, reversing a prior-session selloff after …

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• 12 May 2022 3:11 am

  Biden Defends His Plan To Tame Hot US Inflation

  

  US President Joe Biden on Wednesday criticized Republicans’ plan to combat US hot inflation, taking his speech as an opportunity to slam his opposition. Biden accused his predecessor of being responsible for the balance sheet deficit increase every single year Trump was president. “Right now, the majority of our Republican …

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