Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 8 May 2022 8:45 pm

  Financial Markets’ Weekly Recap, 2 – 6 May

  

  The Fed hiked rates by 50 basis points. But Chair Jerome Powell’s comments briefly ignited a sharp rally across markets after saying that Fed wasn’t considering raising rates by 75 basis points in the near future. Assets rallied across the board on Wednesday after Powell’s comments; downplaying the likelihood of …

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• 7 May 2022 2:31 am

  Market Drivers – US Session – Friday 6 May

  

  Wall Street closed in the red territory amidst a dismal sentiment, central bank tightening, as investors reposition their portfolios once the US central bank hiked rates 50-bps for the first time in 20-years. Wall Street’s printed losses between 1.03% and 2.42%, putting an end to a volatile week led by …

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• 7 May 2022 12:57 am

  ECB Struggles With Weaker Euro

  

  It is evident that ECB president Christine Lagarde has a euro problem though weaker euro is the last thing that Lagarde needs at a time when the ECB is trying to tame hot inflation within the Eurozone. As inflation nears 7.5 percent, the fastest rate since 1999, the exhausted euro …

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• 7 May 2022 12:02 am

  EUR/USD hovers around 1.0540

  

  The EUR/USD pair trimmed some of Thursday’s losses, and it is set to finish the week on the right foot, snapping four consecutive weeks of losses amidst a risk-aversion environment in the financial markets. At 1.0552, the EUR/USD edges up some 0.13%.Risk aversion lifted the low-yielder EUR, despite broad US …

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• 6 May 2022 11:18 pm

  Baker Hughes: More US oil rigs for seventh week in a row

  

  US energy firms last week added oil and natural gas rigs for a seventh week in a row amid high prices and prodding by the government, although most shale producers were prioritizing shareholder returns over new spending on production.The oil and gas rig count, an early indicator of future output, …

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• 6 May 2022 10:21 pm

  After NFP: Americans get pay raise, US dollar to surge

  

  The US has gained 428,000 jobs and wages are up 5.5% year, roughly within expectations. Higher wages impact the kind of inflation that Fed can control. Faster rate hikes are firmly on the Fed’s agenda, benefiting the dollar. Job growth also looks healthy. Even when subtracting the downward revisions worth …

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• 6 May 2022 9:30 pm

  NFP data paves the way for 50 bps rate hike in June

  

  The US economy created 428.000 jobs for the second month in a row, near market expectations. According to analysts at Wells Fargo, the report is solid and reinforces their belief that the Federal Reserve will execute another 50 bps interest rate hike at its next meeting on June 14-15.Key Quotes: …

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• 6 May 2022 9:00 pm

  Disappointing jobs data won’t change BoC hikes

  

  Data released on Friday showed the Canadian economy created 15.3K jobs in April below the 55K of market consensus. Analysts at CIBC, point out that investors judged that the slight disappointment of the jobs data won’t change the expected course of Bank of Canada interest rate hikes.After sprinting ahead in …

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• 6 May 2022 8:25 pm

  Gold Records Minimal Gains Around $1885

  

  The precious metal prepares to finish the week with losses near 0.60% as high US Treasury yields, led by the 10-year, around 3.12%, keep gold prices under pressure. Gold persists downward pressured, and it seems that it would finish the week with losses of around 0.60%, extending its fall from …

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• 6 May 2022 7:57 pm

  EUR/GBP highest since December, approaching 0.8600

  

  The British pound remains under pressure, still hit by the BoE meeting. The Euro among top performers on Friday. The EUR/GBP pair is posting a weekly gain of almost 200 pips, the best in months.The EUR/GBP rose further on Friday and climbed to 0.8590, reaching the highest intraday level since …

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• 6 May 2022 7:16 pm

  US Equities to close lower on NFP data

  

  Major US indices have bounced from earlier intra-day lows hit after strong US jobs data, but are still lower. The latest NFP report was deemed as easing US growth weakness concerns and strengthening Fed tightening conviction. After testing multi-month lows printed earlier in the week following strong US jobs data, …

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• 6 May 2022 7:00 pm

  Fed’s Kashkari: Fed already near neutral

  

  In a blog post on Medium, Minneapolis Fed President and traditionally dovish FOMC member Neel Kashkari argued that, given that long-term real rates have the greatest influence on the demand for credit, financial conditions are already nearly back to neutral levels. But Kashkari argued that the Fed still needs to …

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• 6 May 2022 5:38 pm

  US Non-farm Payrolls rise by 428K in April

  

  The US economy added 428,000 jobs in April, according to the latest Non-farm Payrolls (NFP) report released by the US Bureau of Labour Statistics on Friday. That was a little above the median economist forecast for a gain of 391,000 jobs, and exactly in line with the pace of jobs …

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