Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 11 May 2022 1:56 pm

  Oil prices rise as Russian oil embargo approaches

  

  Oil prices rose on Wednesday after falling nearly 10 percent in the previous two sessions, buoyed by supply concerns, as the European Union works to rally support for a Russian oil embargo and as Russian gas supplies to Europe halted through a major transit point in Ukraine. The European Union …

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• 11 May 2022 1:30 pm

  European shares extend gains

  

  European shares rose on Wednesday, extending gains after hitting a two-month low this week, as investors awaited US consumer price data for indications of rising inflation. The pan-European Stoxx 600 index rose 0.4 percent by 0715 GMT, and the real estate sector was at the forefront of the emerging sectors …

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• 11 May 2022 12:47 pm

  Japan’s Nikkei rises ahead of US inflation data

  

  Japan’s Nikkei index rose at the close on Wednesday as investors flocked to stocks of companies with strong expectations, but gains were limited as US inflation data was awaited later in the day. The Nikkei rose 0.18 percent to close at 26,213.64 points, after declining earlier in the session. Investors …

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• 11 May 2022 4:05 am

  Market Drivers – US Session – Tuesday 10 May

  

  Germany and the US will publish their latest inflation figures on Wednesday. German CPI is expected to be confirmed at 7.4% YoY, while the US reading is foreseen at 8.1%. An in-line or lower than anticipated reading may boost optimism, to the benefit of equities and to the detriment of …

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• 11 May 2022 3:52 am

  Important Facts To Know About Nopec Bill.

  

  After twenty years of failed attempts, the “No Oil Producing and Exporting Cartels” Act, NOPEC, was passed by Senate panel on Thursday in a 17:4 vote. Today, there are many things “influencing” the market purposefully, including releases from strategic petroleum reserves, which are explicitly designed to influence prices in a …

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• 11 May 2022 3:38 am

  Fed’s Bostic: GDP will increase by 2.6% this year

  

  The US GDP will increase by 2.6% this year according to Atlanta Fed President Raphael Bostic. The Fed’s policymaker also mentioned that the economy is strong, and demand is high, adding that Fed policy must be robust, vigilant, and adaptive.Following the comments, the EUR/USD pair is defensive around 1.0530, keeping …

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• 11 May 2022 3:23 am

  WTI Retreats Near $98.00 On Inventories, EIA Data

  

  The American WTI crude oil prices dropped to a fortnight low after weekly private oil inventory data had been released on Tuesday, before bouncing around $98.00 during the initial Asian session on Wednesday. The energy benchmark’s latest rebound to $98.40, however, remains doubtful amid sour market sentiment and uncertainty just …

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• 11 May 2022 2:19 am

  USD/CAD stabilizes ahead of CPI data, oil’s fall

  

  The USD/CAD pair has renewed its fresh high in the year at 1.3052. the pair is attempting to balance above the 1.3000 psychological resistance. USD/CAD also managed to continue its winning streak by positive performance on Tuesday.USD/CAD is likely to further advance amid uncertainty over the release of the US …

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• 11 May 2022 1:25 am

  Chinese imports tariff could be dropped by Biden

  

  US President Joe Biden declared that fighting inflation is his top priority adding that he understands Americans’ frustration over high prices.The Washington Post reported that ”Biden used a speech from the White House to address an issue that has become a major political liability for him. At the same time, …

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• 11 May 2022 12:24 am

  Biden Blaming Pandemic: Inflation ‘Hurting’ US Families

  

  US President Joe Biden blamed high inflation on COVID-19 pandemic disruptions to the economy as well as the Russo-Ukrainian conflict, adding that rising price pressures are “hurting” American families ahead of the November midterms. In response to reporters’ question about taking any “responsibility” for inflation, Biden stated, “I think our …

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• 10 May 2022 11:27 pm

  Fed’s Mester: After June, July’s Hikes, Fed to see what more is needed

  

  Cleveland Federal Reserve President Loretta Mester said on Tuesday that inflation will need to show a compelling slowdown before the Federal Reserve can consider pausing its interest rate increases, with the risks currently pointed towards a tougher fight to bring the pace of price increases under control.The US dollar was …

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• 10 May 2022 10:43 pm

  Gold Continues To Deteriorate Ahead Of CPI Data

  

  The gold price continues to retreat despite some relief in the US dollar’s advance. The XAU/USD is down some 0.46% at $1,845 while the DXY is trading at 103.85 and up just 0.1%. The dollar maintained choppy performance on Tuesday, shifting between modest gains as traders do concentrate on Wednesday’s …

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• 10 May 2022 9:59 pm

  EUR/USD Trapped As Fed Speakers Set the Scene For Rate Hikes

  

  The EUR/USD pair loses 0.18% on Tuesday during the US trading session, meanwhile, Fed policymakers seem to set the scene for 50-bps increases as they also eye Wednesday’s CPI data.The Euro continues to be unable to recover above the 1.0600 threshold. The shared currency has remained trapped around 1.0500 for …

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