Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 18 May 2022 11:15 pm

  EUR/USD Impacted As Investors Abandon High yielding Assets

  

  The EUR/USD pair edged lower on Wednesday, ending the day near 1.0475 daily low. The pair pulled back from a weekly high of 1.0563 as the market’s sentiment took a turn for the worse mid-European session following the release of inflation figures. The EU CPI growth was confirmed at 7.4% …

  Read More »
• 18 May 2022 10:27 pm

  Cryptocurrencies build momentum for a flash crash

  

  Bitcoin price, on Wednesday, shows that bears are attempting to put BTC into a close last seen in early January 2021. Ethereum price threatens to touch a new lowest 2022 and 10-month close. XRP price action tested the $0.50 as resistance but could not break it.Bitcoin price action during the …

  Read More »
• 18 May 2022 9:45 pm

  Canada’s Headline Inflation Could Accelerate Again In May

  

  Data released on Wednesday showed the annual inflation rate rose to 6.8%, the highest level since January 1991. Analysts at CIBC point out inflation could rise further in May before starting to slowdown during the second half of the year. Key Quotes: “There’s no respite yet for Canadian consumers when …

  Read More »
• 18 May 2022 9:09 pm

  USD/CAD price at a critical support structure and eying 1.2950

  

  USD/CAD started to stall on the offer and bulls could be moving in for a run towards old support near a 50% mean reversion of the bearish impulse on the daily chart located at 1.2936. The M-formation is a reversion pattern that typically results in a retest of the neckline …

  Read More »
• 18 May 2022 8:12 pm

  Gold Prices Impacted by risk-aversion

  

  On Wednesday, the non-yielding metal is almost flat as investors assess the pace of the Fed’s tightening. A buoyant US Dollar keeps gold defensive, though holding above $1800. Gold ETF holdings have fallen for a ninth consecutive day.The Gold Index is trading negatively in the day, though it remains at …

  Read More »
• 18 May 2022 7:18 pm

  WTI crude retreats towards $110 on sentiment deterioration

  

  The American WTI crude oil has retreated back towards $110, with oil prices in downturn on deteriorated risk sentiment. But these dips proved attractive to potential buyers as lockdowns ease in China while Russian OPEC output is still negotiated.Updates about an easing of lockdown restrictions in China failed to hold …

  Read More »
• 18 May 2022 5:00 pm

  US: Housing starts fell by 0.2% in April, Building Permits fell by 3.2%

  

  Housing Starts in the US fell 0.2% in April to 1.724M, below last month’s 1.728M and expectations for a rise to 1.765M. Building Permits, meanwhile, fell from 1.879M in March to 1.819M in April, a drop of 3.2%. That was above the expected drop to 1.812M. 

  Read More »
• 18 May 2022 4:44 pm

  Canada: Annual CPI rises to 6.8% in April

  

  The pace of annual inflation in Canada according to the Consumer Price Index (CPI) rose to 6.8% in April, data released by Statistics Canada on Wednesday showed. That was slightly above expectations for a YoY rate of CPI to come in unchanged from March at 6.7% in April. MoM, prices …

  Read More »
• 18 May 2022 4:25 pm

  Moscow: Possible tariffs on Russian oil will force buyers to pay more

  

  A US proposal to impose tariffs on Russian oil means buyers will have to pay more or look for alternative suppliers, Kremlin spokesman Dmitry Peskov said on Wednesday, May 18. And US Treasury Secretary Janet Yellen said on Tuesday, May 17, that the European Union could combine imposing tariffs on …

  Read More »
• 18 May 2022 3:26 pm

  Gold is near its lowest level in 3 and a half months

  

  On Wednesday, gold prices settled near their lowest levels since late January, under pressure from the recovery of the dollar and the hawkish stance of the Federal Reserve Chairman on inflation. By 0831 GMT, gold recorded in spot transactions 1815.39 dollars an ounce. And US gold futures fell 0.2 percent …

  Read More »
• 18 May 2022 2:21 pm

  The dollar rises after Powell confirms expectations of tightening monetary policy

  

  The dollar rose on Wednesday, a day after it suffered its biggest loss in more than two months after US Federal Reserve Chairman Jerome Powell emphasized tighter monetary policy as the US central bank sought to contain rising inflation. Powell pledged that the central bank would raise interest rates as …

  Read More »
• 18 May 2022 1:31 pm

  Eurozone final inflation rises 0.6% MoM in April

  

  Eurozone inflation held steady at a record high 7.4% in April, driven by soaring fuel and food costs, the EU’s statistics agency said today, lowering its estimate from a preliminary 7.5%. Inflation has soared over the past year, first on post-Covid supply bottlenecks and latterly on knock-on effects from Russia’s …

  Read More »
• 18 May 2022 12:41 pm

  Nikkei closes at a two-week high after retail sales data boosted Wall Street

  

  Japan’s Nikkei hit a two-week closing high on Wednesday and major tech stocks led the way after US stocks closed significantly higher overnight on strong retail sales data. The Nikkei index closed up 0.94 percent at 26,911.20 points, after briefly exceeding the 27,000 points level, its highest closing level since …

  Read More »