Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 16 August 2022 1:32 am

  Responding to EU nuclear draft, Iran seeks US flexibility

  

  Iran responded to the European Union’s “final” draft text to save a 2015 nuclear deal on Monday, an EU official said, as the Iranian foreign minister called on the United States to show flexibility to resolve three remaining issues.While Washington has said, per Reuters, it is ready to quickly seal …

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• 16 August 2022 12:47 am

  What Could Chinese Dull Economic Data Mean For Commodities?

  

  Commodities traders are sitting on edge of their seats following the latest batch of Chinese economic data. Almost all commodity-related assets have been impacted. For example; oil prices plummeted by nearly 5% in early trading on Monday.In commodities, WTI drifts 3.5% lower to trade around $88, but at the time …

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• 16 August 2022 12:07 am

  US Stocks Boosted By Growth Shares Gains

  

  The US stocks ended higher on Monday, adding to recent robust gains, with megacap growth shares rising as US Treasury yields eased. Shares of Apple Inc and Microsoft Corp were among the biggest boosts to the S&P 500 and Nasdaq.According to preliminary data, the S&P 500 gained 15.94 points, or …

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• 15 August 2022 11:17 pm

  NZD/USD Drops As Traders Eye RBNZ Rate Decision

  

  The NZD/USD pair drops from last week’s highs around 0.6468 on risk aversion. China’s economic slowdown looming and bleak NY Fed Empire State Index underpin the US dollar.The Reserve Bank of New Zealand is expected to hike rates by 50 bps on Wednesday. The NZD/USD snaps five days of gains …

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• 15 August 2022 10:24 pm

  Canada CPI to edge lower to 7.8% in July

  

  Analysts expect the annual Consumer Price Index (CPI) in Canada to decline to 7.8% in July from 8.1% in June with lower energy prices and larger base effects weighing on the headline print.Food prices and rents should bounce back from their muted performance in June, while mortgage interest costs provide …

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• 15 August 2022 9:28 pm

  Power Prices Hit Record In Germany As Energy Crisis Deepens

  

  Next-year electricity rates in Germany advanced as much as 3.7% to 477.50 euros ($487) a megawatt-hour on the European Energy Exchange AG. That’s almost six times as much as this time last year, with the price doubling in the past two months alone.European power prices jumped to a fresh record …

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• 15 August 2022 8:40 pm

  Aramco’s Profit Jumps 90 Percent On Higher Crude Prices

  

  The giant Saudi oil producer said it earned nearly $50 billion last quarter, the latest energy company to record outsize profits after the surge in crude prices since Russia’s invasion of Ukraine in February.Aramco announced that its second-quarter profit jumped 90 percent over the same period a year ago, reaching …

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• 15 August 2022 7:47 pm

  Retail Companies’ Earnings Expected To Depict Inflation Real Status

  

  When Walmart and Target report their quarterly earnings this week, investors will gain some insight into how big retail is handling inflation—and stocks across the sector will likely feel the aftershocks.The two companies are important bellwethers for the retail industry and consumer spending. And in recent months, both Walmart and …

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• 15 August 2022 7:19 pm

  Gold Price Forecast: XAU/USD bulls struggle around 50 DMA on the road to recovery

  

  Gold Price breaches the critical 50 DMA at $1,782 despite falling yields. China data-led triggers risk-aversion, boosts the safe-haven US dollar. The Gold Index remains exposed to testing the bullish 21 DMA on a daily closing below 50 DMA.Gold Price is deep in the red during the US session, as …

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• 15 August 2022 6:11 pm

  House prices in Britain are falling at the highest rate in more than two years!

  

  Recently released data indicated that the prices of new properties offered for sale in the United Kingdom decreased, at the highest pace in nearly two and a half years, by 1.3% in August. This led to a decline in the pace of real estate price growth in Britain from 9.3% …

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• 15 August 2022 6:01 pm

  Gold Slides On NY Fed’s Manufacturing Index Reading

  

  The gold market is not seeing much reaction to the latest economic data as it tries to hold support around $1,800 an ounce. December gold futures last traded at $1,796.30 an ounce, down 1% on the day. At the time of writing, gold price even deteriorates to $1778.71. With a …

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• 15 August 2022 3:57 pm

  Turkey’s public budget deficit doubles to 64 billion liras in July

  

  Turkey’s public budget deficit doubled to 64 billion Turkish liras in July, and Turkey’s general budget data showed a deficit of 31 billion liras in June, according to Treasury and Finance Ministry data. Turkey suffers from a significant rise in the inflation rate, as it recorded 79.6% in July, up …

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• 15 August 2022 2:18 pm

  Dollar rises after China data, yuan falls due to interest rate cut

  

  The safe-haven US dollar rose on Monday after a fresh batch of disappointing data from China reinforced fears of a global recession. At the same time, the yuan fell after the People’s Bank of China surprisingly cut interest rates. Chinese industrial production, retail sales and fixed asset investment missed analysts’ …

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