Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2022

• 2 February 2022 11:30 pm

  UK Finance Minister Gives Press Conference On Cost Of Living Crisis

  

  UK Chancellor of the Exchequer (Finance Minister) Rishi Sunak will hold a major press conference on Thursday amid souring UK energy costs. The UK energy regulator Ofgem will announce the new energy price cap for April on Thursday morning, UK time. Sunak is expected to announce new financial support measures …

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• 2 February 2022 11:01 pm

  EUR/USD hovers above 1.1300 as focus shifts to ECB meeting

  

  The EUR/USD pair has continued to trade well supported to the north territory of the 1.1300 level as the Euro remains positioned near the top of the daily G10 performance table, having been boosted by post-hot Eurozone inflation data hawkish ECB bets.While the pair had already broken above the key …

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• 2 February 2022 10:20 pm

  GBP/USD Bulls Stay On Course Ahead Of The BoE Decision, US NFP Data

  

  At 1.3570, GBP/USD is around 0.40% higher on the day as it tracks down the start of the New York sessions highs of 1.3587 again during midday trade. Sterling is climbing on Wednesday for the fourth session in a row, reaching a 1-1/2-week high against the dollar.Trader’s expectations that the …

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• 2 February 2022 9:41 pm

  Wall Street stocks waver as traders assess tech earnings

  

  Google owner Alphabet tops analysts’ forecasts but PayPal issues disappointing guidance. Alphabet followed fellow tech groups to post forecast-beating quarterly results.Wall Street stocks wavered on Wednesday as traders balanced strong earnings from Alphabet with downbeat guidance from fellow tech group PayPal, and a report indicated that US labour market conditions …

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• 2 February 2022 9:28 pm

  Canadian dollar yawns despite solid GDP

  

  The Canadian dollar is flat on Wednesday, trading at 1.2685 in the North American session though Canada’s GDP outperformed in November, but the positive news was not enough to move the sleepy Canadian dollar. GDP expanded by 0.6%, above the consensus of 0.4%. The growth was broad-based across the economy …

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• 2 February 2022 9:12 pm

  Gold Is Struggling Around $1809

  

  The non-yielding precious metal is trading above $1805. The US ADP data was worse than expected; it could be a prelude to the Nonfarm Payrolls (NFP).The Gold Index (XAU/USD) climbs in the North American session as US T-bond yields led by the 10-year benchmark note fall three basis points, undermining …

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• 2 February 2022 8:34 pm

  Giant Red Flag, US National Debt Data Push Economic Alarms

  

  The US national debt has crossed the $30 trillion mark for the first time amid pandemic-related government spending. This reading is the first time in history according to the Treasury Department.The federal government exceeded the troubling threshold following a wave of borrowing and spending during the COVID-19 pandemic.The national debt …

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• 2 February 2022 7:29 pm

  Sterling Still Buoyant On Eve Of BoE’s Policy Decision

  

  Only one day away from an awaited second successive BoE rate hike, the British pound has been trading on the front foot. The GBP/USD pair has recently surpassed its 21DMA at 1.3557 before running into resistance ahead of the 1.3600 level.At current levels in the 1.3560 territory, the pair trades …

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• 2 February 2022 7:11 pm

  How Does BoE Plan To Reverse QE?

  

  Under strong pressures to act against surging inflation, the Bank of England looks ready to explain how it will reduce the vast pile of British government bonds it has bought over the last decade in repeated attempts to stimulate the economy.Most economists polled by Reuters think the BoE will on …

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• 2 February 2022 5:59 pm

  ECB Preview: Will it Be Positive For The Euro?

  

  Markets are not expecting much from Thursday’s ECB meeting, but it could be positive for the EUR/USD. In December, the European Central Bank laid out plans for 2022, most notably ending the PEPP. The ECB is widely expected to leave its policy settings unchanged following the January policy meeting. In …

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• 2 February 2022 5:39 pm

  US: Private Sector Employment Falls by 301K

  

  Employment in the US private sector fell by 301,000 in January, monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday, marking only the second month-on-month drop in employment since April 2020 when the US first went into lockdown. That was a huge miss on consensus …

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• 2 February 2022 5:01 pm

  Oil Near The Peak of 7 Years And Eyes on OPEC+

  

  Oil prices jumped on Wednesday towards a seven-year high hit last week as the United States’ move to drain its crude inventories underlined high demand and tight supplies, but investors remained cautious ahead of the OPEC+ group meeting later on Wednesday. Brent crude rose 23 cents, or 0.26 percent, to …

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• 2 February 2022 3:37 pm

  Euro Maintains Strength as Improved Risk Sentiment Weighs on Dollar

  

  The euro rose on Wednesday for a third consecutive day, after hitting a 20-month low last week, as markets awaited inflation data in the eurozone for clues about the European Central Bank’s next move. The euro has come under pressure recently, falling 8 percent in three months, amid expectations that …

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