Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 26 May 2022 12:07 am

  USD/CAD Struggles, Slides Post-FOMC Minutes

  

  The USD/CAD pair retreats from weekly highs, extending its losses in the week to 0.18%. FOMC minutes confirmed that the June and July meetings would witness a 50-bps rate hike, each. USD/CAD, In the short term, is downward biased, and a break below 1.2713 would send the pair towards 1.2630.The …

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• 25 May 2022 11:20 pm

  WTI edges higher on tight supply, rising US refining activity

  

  Crude oil price slightly rose on Wednesday, buoyed by tight supplies and as US refiners drove refining activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July rose by 9 cents to $113.65 a barrel. US West Texas Intermediate (WTI) crude for July delivery …

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• 25 May 2022 10:15 pm

  FOMC Minutes sink the US dollar

  

  The Federal Open Market Committee minutes have been released which are so far sending the US dollar DXY index a touch softer.At the May 3-4 meeting, the Fed hiked rates the expected 50 bp to 1.0% and laid out plans for aggressive Quantitative Tightening to begin in June. There is …

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• 25 May 2022 9:09 pm

  EUR/USD Set To Tick Higher, Eying Catalyst From Fed

  

  For the Fed minutes and sessions ahead, the pair could be based here and result in a higher correction from support. Any Ultra Hawkish remarks by FOMC minutes will likely support the US dollar and potentially send the euro below 1.0640 towards a daily 61.8% ratio down at 1.0615.The US …

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• 25 May 2022 8:12 pm

  Gold slumps towards $1840s ahead of FOMC minutes

  

  Gold price retreats from weekly highs around $1870 as investors prepare for the Fed’s May minutes. The US dollar remains buoyant, despite falling US bond yields and weighs on XAU/USD’s price.Gold slides below the 20-day moving average (DMA) and accelerates towards the 200-DMA at $1839.66 on Wednesday, courtesy of a …

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• 25 May 2022 7:32 pm

  GBP/USD bounces from weekly lows, heading firmly above 1.2530

  

  The GBP/USD pair stops Tuesday’s losses and recovers some ground, gaining 0.42% in the week. The positive market sentiment boosts the prospects of the sterling, despite a strong US Dollar. The British pound recovers some ground on Wednesday during the North American session, bouncing near weekly lows around 1.2480s and …

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• 25 May 2022 6:13 pm

  The dollar rises from its lowest level in a month

  

  The US dollar turned higher on Wednesday after two consecutive days of losses as the recent decline in US Treasury yields halted, and the dollar’s rally outpaced the euro and the New Zealand dollar that had earlier surged, driven by an announcement of tight monetary policy from the central bank. …

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• 25 May 2022 4:58 pm

  US: Durable Goods Orders rise in April

  

  US Durable Goods Orders rose by 0.4% MoM in April, the latest data from the US Census Bureau on Wednesday showed, below expectations for a 0.6% rise and down from March’s 0.6% MoM growth rate (which had been downwardly revised from 0.8%). The more widely followed Core Durable Goods Orders …

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• 25 May 2022 3:25 pm

  Reuters: Japan government to urge BOJ to meet inflation goal sustainably

  

  Japan’s government is seen calling on the Bank of Japan (BOJ) to strive for achieving its 2% inflation target in a “sustainable and stable fashion,” Reuters reports on Wednesday, having seen a draft of its long-term policy outline. “The government will continue to conduct macro-economic policy flexibly … with a …

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• 25 May 2022 2:41 pm

  Russia is ready to open a corridor for ships leaving Ukraine with food exports

  

  Russian Deputy Foreign Minister Andrei Rudenko said on Wednesday that Russia is ready to provide a humanitarian corridor for ships carrying foodstuffs to leave Ukraine, in exchange for the lifting of some sanctions, Interfax news agency quoted Russian Deputy Foreign Minister Andrei Rudenko as saying Wednesday. Ukraine’s Black Sea ports …

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• 25 May 2022 1:57 pm

  The dollar rises from its lowest level in a month

  

  The US dollar turned higher on Wednesday after two consecutive days of losses as the recent decline in US Treasury yields halted, and the dollar’s rally outpaced the euro and the New Zealand dollar that had earlier surged, driven by an announcement of tight monetary policy from the central bank. …

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• 25 May 2022 1:00 pm

  European shares rise after a wave of selling

  

  European shares rose on Wednesday with positive data on German market sentiment as investors watched what central banks would do to tighten monetary policy amid growing concerns about slowing economic growth. The pan-European Stoxx 600 index rose 0.8 percent by 0714 GMT, supported by gains across all sectors. The index …

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• 25 May 2022 12:30 pm

  Gold falls with the rise of the dollar

  

  Gold prices fell on Wednesday with the rise of the dollar, while investors awaited the statement of the monetary policy meeting of the Federal Reserve for the month of May, in search of indications on the expected amount of the next US interest rate hike. And by 0636 GMT, gold …

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