Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2022

• 20 January 2022 2:07 am

  Oil Slips After API Reports Third Successive Gasoline Build

  

  Operating on a one-day delay due to the U.S. holiday, the American Petroleum Institute (API) estimated the inventory build this week for crude oil to be 1.404 million barrels after analysts predicted a draw of 1.367 million barrels.U.S. crude inventories shed some 74 million barrels since the start of 2021, …

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• 20 January 2022 1:49 am

  Biden Urges Fed To Recalibrate Support For US Economy

  

  During a news conference in the East Room of the White House in Washington, D.C., US President Joe Biden on Wednesday said it is appropriate for the Federal Reserve to recalibrate the support it provides to the US economy, given the strength of the recovery and recent price increases.“Given the …

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• 20 January 2022 1:30 am

  US Shares Lower Despite Positive Earnings

  

  US equities dipped again on Wednesday, with the S&P 500 failing to reclaim 4600 and down over 4.0% in 2022. The Nasdaq 100 dipped 0.2% and the Dow fell 0.3%.US equity markets have been under selloff pressure on Wednesday, with markets under fears about Fed tightening and higher interest rates, …

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• 20 January 2022 1:08 am

  European Veto Could Hinder Global Tax Reform

  

  Hungary, Poland and Estonia are among European nations that are unhappy with plans to launch a minimum global corporate tax rate of 15 percent as of January 2023.Some EU countries have slammed the bloc’s efforts to introduce a global minimum corporate tax rate of 15 percent within 12 months into …

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• 20 January 2022 12:01 am

  Inflationary Pressures Turning Into Global Headache

  

  Demand for the US dollar eased on Wednesday, with the American currency edging lower against most major rivals. Losses were limited across the major currencies, with gold outstanding amid rallying beyond $1,840 an ounce, its highest since last November.US Treasury yields inched higher at the beginning of the day to …

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• 19 January 2022 11:49 pm

  Gold Momentum Eases After Prices Ticked $1840

  

  Gold’s upside momentum has waned in recent trade, with prices trading near $1842 after bursting above resistance in the low $1830s and then subsequently $1840 for the first time in over two months. The speed of spot gold’s latest advances, especially between the $1830 to $1840 area, is suggestive of …

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• 19 January 2022 11:16 pm

  GBP/USD Traders Eye Fed, BoE, Johnson’s Fate

  

  The GBP/USD pair is trading at 1.3627 and higher by 0.24% after rising from a low of 1.3585 to a high of 1.3648. Besides domestic drivers, the sterling has benefitted from a pullback in US yields and the US dollar. US Treasury yields are retreating from near two-year highs on …

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• 19 January 2022 9:40 pm

  US Treasury Yields To Hit 2.25% in 2022

  

  In their yields outlook analysis, economists at Danske Bank point out that while a European Central Bank rate hike in 2022 is not their baseline scenario, they expect markets to increase price rate hikes in 2023 and 2024. They expect the 10Y US Treasury yields to hit 2.25% in 2022 …

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• 19 January 2022 9:15 pm

  US Home Building Ends 2021 With Strong Momentum

  

  Economic figures released on Wednesday surpassed expectations in the US with Housing starts rising 1.4% in December to 1.70 million (annual). Analysts at Wells Fargo point out a milder than usual weather allowed more construction to take place in what is normally a seasonally slow month.Key Quotes: “Home building finished …

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• 19 January 2022 8:47 pm

  WTI Crude Hits Highest Price Since 2014

  

  Iraq-Turkey pipeline outage has sparked fresh supply concerns. WTI crude has hit $87.82 for the first time since September 2014 on Wednesday. A momentary outage of an Iraqi-Turkish pipeline was attributed as driving the most recent oil price gains.But the broader themes of tighter than expected market conditions and rising …

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• 19 January 2022 8:26 pm

  Will BoC Delay Monetary Policy Normalization

  

  Data released on Wednesday showed the Canadian CPI rose in December to 4.8% (annual), the highest level since 1991. Core inflation will likely continue to run around 2.3% and 3%. They see the Bank of Canada raising rates five times during 2022 according to analysts at the National Bank of …

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• 19 January 2022 7:26 pm

  BoE’s Bailey: Regional agents are seeing some evidence of second-round inflation effects

  

  Bank of England Governor Andrew Bailey, who is currently testifying before the UK Parliament’s Treasury Select Committee, said on Wednesday that regional agents are seeing some evidence of second-round inflation effects. Additional Quotes:“Since November, financial markets have pushed back when they expect energy prices to fall.”“Tension on the Ukrainian border …

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• 19 January 2022 6:23 pm

  Market Drivers – European Session 19-1-2022

  

  Data released today by Statistics Canada showed that the inflation index grew as expected for the third consecutive month in December, as the consumer price index fell by 0.1% in December, in line with market expectations, but less than the previous reading, which recorded an increase of 0.2 % last …

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