Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 24 May 2022 5:14 am

  Market Drivers – US Session – Monday 23 May

  

  The US dollar weakened on the first trading day of the week, amid a better market sentiment. The EUR/USD pair flirts with 1.0700, helped by ECB Chair President Christine Lagarde. She said she expects the facilities program to end “very early” in the third quarter of the year, leaving policymakers …

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• 24 May 2022 5:03 am

  Shiba Inu acts as crypto underperformer

  

  Shiba Inu price qualifies the asset to be considered as a crypto underperformer if market conditions persist. Continual diminishing returns are a likely outcome for the meme coin. Invalidation of the bearish thesis is a breach above $0.00001850. Ethereum price displays reasons to believe in a price spike to $2400. …

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• 24 May 2022 4:55 am

  US stocks rise, USD falls after seven weeks of equity losses

  

  US stocks rallied on Monday while government bond prices fell, as investors returned to riskier assets after growth fears and high inflation left the S&P 500 nursing its seventh consecutive week of losses.Monday’s advance followed a late turnround on Wall Street on Friday when the S&P briefly entered bear market …

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• 24 May 2022 2:47 am

  Powell officially sworn in as Fed chair

  

  Federal Reserve Chair Jerome Powell was formally sworn in on Monday to begin his second four-year term as head of the U.S. central bank as it aims to tame the highest inflation in four decades without tipping the economy into recession. Lael Brainard was also sworn in as the Fed’s …

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• 24 May 2022 2:25 am

  AUD/USD Rising, Defying Gravity

  

  The AUD/USD pair is rising and while this is ideally perceived of as a bearish continuation chart pattern, the Australian dollar has a habit of defying gravity when correcting the trend and a break of the current resistance would be an important development. On the other hand, the bears are …

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• 24 May 2022 1:31 am

  Governor Bailey: BoE not to blame for soaring inflation

  

  The governor of the Bank of England has hit back at critics who accused him of being asleep at the wheel while inflation soared and a cost of living crisis hit UK living standards.Andrew Bailey defends response to Covid pandemic and indicates that the British central bank will not take …

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• 24 May 2022 12:40 am

  Gold records a fresh two-week high at around $1860s

  

  The Gold Index advances for the fourth successive trading day and begins the trading week with an upbeat tone but retreats at the 20-day moving average (DMA) at $1856.45. The XAU/USD Index reflects the weak appetite for the US dollar, despite higher US Treasury yields, which are pairing last Friday’s …

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• 23 May 2022 10:27 pm

  USD/JPY retreats, but steadies around 127.80s

  

  The USD/JPY pair has edged lower and records minimal losses of 0.01% in the North American session, courtesy of a positive mood and a weaker greenback. At the time of writing, the USD/JPY is trading at 127.84.Market sentiment remains positive, as US equities gain between 1.27% and 1.90%. The US …

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• 23 May 2022 9:31 pm

  UK aims to legislate against Brexit deal

  

  The United Kingdom has been long supporting the case to modify the Northern Ireland Protocol amid the barriers it creates in Northern Ireland. Another issue comes from delay and prices rises amid checks requirements.However, the Union has refused to reopen the treaty and has threatened to use “all the measures …

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• 23 May 2022 8:39 pm

  EUR/USD surges on weaker dollar

  

  The EUR/USD pair is soaring and is closing to the 1.0700 mark, as the US dollar trading remains softer amid positive market sentiment, and an additional hawkish push provided by the ECB President Christine Lagarde, saying that a rate hike on July, it’s possible. At the time of writing, the …

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• 23 May 2022 7:57 pm

  GBP/USD rallies on improved risk-on, weaker dollar

  

  The GBP/USD pair opened the week near the 1.2470s area and, due to favorable market sentiment, rallied 100-pips, reclaiming the 1.2500 mark and closing at the 1.2600 price level, last seen on May 5.The sterling is extending its recovery after posting its first weekly gain in five and begins the …

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• 23 May 2022 7:14 pm

  Hawkish ECB members annoyed at Lagarde’s rate hike plan

  

  Some of the more hawkish European Central Bank policymakers are annoyed at the rate-hike timeline outlined by central bank President Christine Lagarde, Bloomberg reported on Monday citing sources, given some had preferred a faster option. Lagarde effectively signaled in a blog post on Monday that the bank would bring rates …

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• 23 May 2022 5:18 pm

  US: National Activity Index rises to 0.47 in April

  

  The US National Activity Index rose to 0.47 in April from 0.36 in March, data released by the Federal Reserve Bank of Chicago revealed on Monday. The National Activity Index is a monthly index designed to gauge overall economic activity and related inflationary pressure. The index has been relatively stable …

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