Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 5 May 2022 3:05 pm

  BoE hikes interest rates by 25 bps to 1.0%

  

  The Bank of England on Thursday raised interest rates by 25 bps to 1.0%. Six of the bank’s nine rate-setters supported the 25 bps hike, though three wanted a larger 50 bps move. The rate hike was in line with expectations, but the vote split was more hawkish than expected, …

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• 5 May 2022 2:22 pm

  German Factory Orders plunge 4.7% MoM in March

  

  The German Factory Orders fell sharply in March, suggesting that the manufacturing sector of Europe’s economic powerhouse is seeing a fresh downturn. Contracts for goods ‘Made in Germany’ declined by 4.7% on the month vs. -1.1% expected and -0.8% last, the latest data published by the Federal Statistics Office showed on …

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• 5 May 2022 1:38 pm

  Inflation in Turkey jumps to 70% in April, the highest level in 20 years

  

  Turkey’s annual inflation rate jumped to 69.97 percent in April, exceeding expectations and constituting the highest inflation level in two decades, data showed on Thursday, driven by the Russian-Ukrainian conflict and the rise in commodity prices after the lira collapsed late last year. The Turkish Statistical Institute said consumer prices …

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• 5 May 2022 1:17 pm

  European shares rebound after US interest rate hike

  

  European shares rose on Thursday, tracking Wall Street’s rally overnight, after the US Federal Reserve raised interest rates as expected but calmed bets on a major tightening, with sentiment rebounding further thanks to a streak of big profits. The pan-European Stoxx 600 index rose 1.8 percent, reversing many of the …

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• 5 May 2022 12:46 pm

  Gold rises 1% after the US Federal Reserve raises interest rates

  

  Gold prices rose on Thursday after the US Federal Reserve raised interest rates by 50 basis points to curb inflation, which the central bank sees as a factor threatening the economy, while ruling out a larger rate hike this year. Gold in spot transactions rose 0.9 percent to $ 1898.06 …

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• 5 May 2022 2:35 am

  EUR/USD Eyes Fresh Highs After FOMC Decision

  

  The EUR/USD pair has witnessed a juggernaut upside move after the Federal Reserve decided to raise a rate hike by 50 basis points in the New York session. The Euro bulls have established the asset above 1.0600 and are driving it higher towards the next barricade at 1.0650.An interest rate …

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• 5 May 2022 1:54 am

  Market Drivers – US Session – Wednesday 4 May

  

  The US dollar plunged on the remarks by the US Fed’s monetary policy decision. As expected, the US central bank has hiked rates by 50 bps to a range of 0.75% to 1% while announcing trimming the balance sheet as of June 1. They would start with a $47.5 billion …

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• 5 May 2022 1:37 am

  US Unemployment Rate, NFP Preview

  

  The US Bureau of Labor Statistics is expected to release non-farm payroll data and unemployment rate data for April on Friday. The current prevalent mixed concerns across financial markets could be linked to some sort of anxiety ahead of this week’s US Nonfarm Payrolls data.The US dollar rose slightly on …

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• 5 May 2022 1:16 am

  RBNZ: Stagflation not a core risk

  

  The Reserve Bank of New Zealand’s governor Adrian Orr stated that the RBNZ doesn’t see stagflation as a core risk, adding that ”it’s business as usual” on monetary policy and the central banks have ”no regrets on monetary policy,” and that he is ”proud of where we are”.Orr added that …

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• 5 May 2022 12:03 am

  US Equities Stocks Jump On Powell’s Remarks

  

  In reaction to Federal Reserve Chair Jerome Powell’s comments downplaying the likelihood of larger rate hike than the one just announced Wednesday, stocks surged to their biggest gain in two years Wednesday. Bond yields dropped as well. Stocks on Wall Street jumped on Wednesday, after Jerome Powell, the Fed Chair, …

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• 4 May 2022 11:37 pm

  Could Rising Inflation Turn Bitcoin Into Risk-Off Asset?

  

  Bitcoin is separating itself from risk assets with increasing HODL behavior and historical patterns suggest a mild down-turn, according to Bloomberg Intelligence’s latest report. The report discussed bitcoin and other cryptocurrencies as it relates to adoption, markets and defining asset classes.The report also explains how bitcoin is separating itself from …

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• 4 May 2022 11:25 pm

  Gold Prices Soar On Powell’s Comments

  

  Gold is benefiting from safe-haven flows and a dialing back of an uber hawkish Fed. Fed’s chairman, Powell, has taken out 75bps rate hike speculation in markets. At $1,885, the gold price is rallying some 0.87% on the day, breaking out of sideways consolidation and taking on a critical daily …

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• 4 May 2022 11:18 pm

  Powell: US economy has a good chance to avoid recession

  

  Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks on the monetary policy outlook at a press conference following the FOMC’s decision to hike the policy rate by 50 basis points in May.Key Quotes“We understand the pain from high inflation”.“It’s our job is to make sure high …

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