Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 21 May 2022 2:31 am

  US adds oil, gas rigs for ninth week

  

  US energy drillers this week added oil and natural gas rigs for a ninth consecutive week according to data released on Friday, as mostly small producers respond to high prices and prodding by the government to ramp up output.Since Moscow invaded Ukraine on Feb. 24, the US government has urged …

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• 21 May 2022 1:14 am

  USD/CAD hovers around 1.2835

  

  The US Dollar Index reclaimed the 103.000 mark but ended the week with losses of 1.38%, meanwhile, the Canadian dollar gained 0.47% versus the USD in the week, which was soft throughout the whole week. The USD/CAD pair has been seesawing during the North American session and is recording minimal …

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• 21 May 2022 12:27 am

  USD/JPY records minimal losses on sliding T-yields

  

  The USD/JPY continues sliding for the third straight day, though the downtrend capped at April’s 27 daily low at 126.94, keeping the major’s uptrend intact amidst a downbeat market mood on the last trading day of the week, as the Wall Street close looms. At 127.82, the USD/JPY records minimal …

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• 20 May 2022 11:41 pm

  Fitch Warns: Gas Could Ignite Eurozone Recession

  

  Any sudden interruption in Russian gas supplies to the EU member states could push the Eurozone into recession, Fitch Ratings states that exposures are “so large that an immediate and total cessation of Russian natural gas supplies would result in gas shortages and rationing, causing a major macroeconomic shock”.The European …

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• 20 May 2022 10:54 pm

  S&P 500 Dips As Selloff Continues

  

  Friday’s drop is conceived of as a bad omen for the economy as a whole. Only one bear market in the last 50 years, the market crash of 1987, was not accompanied by a recession. For the majority of the bull market since the March 2020 low, investors have had …

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• 20 May 2022 10:07 pm

  USD/CHF stops bleeding on broad US dollar strength

  

  The Swiss franc gained more than 2.50% vs. the greenback. A dampened market mood and a strong US dollar capped the USD/CHF nosedive in the week. USD/CHF Price Forecast: Although the major held a massive loss in the week, it remains upward biased unless USD/CHF bears push the pair below …

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• 20 May 2022 9:17 pm

  EU Faces Same Obstacles Over Tariff On Russian Oil, Embargo

  

  The idea of an EU tariff on oil imports from Russia comes from the United States, which is considering proposing that European countries impose a tariff instead of an embargo, to allay concerns about the security of supply and surging oil prices. The EU could combine tariffs and embargoes, US …

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• 20 May 2022 8:36 pm

  AUD/USD struggles on risk-aversion

  

  The AUD/USD pair is up throughout the week by 1.34%, despite falling on Friday. Market sentiment fluctuates negatively in the last hour, dragging the AUD/USD lower. The Australian dollar is struggling at the 20-day moving average (DMA) and is losing the battle as the AUD/USD looks forward to resuming the …

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• 20 May 2022 7:47 pm

  RBNZ could decide 50 bps rate hike next week

  

  The Reserve Bank of New Zealand will have its monetary policy meeting next week. According to analysts at Wells Fargo, high inflation and a hawkish central bank outlook sets the scene for another 50 bps hike in May to 2.00%. They expect the rate to end the year at 3.00%. …

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• 20 May 2022 7:03 pm

  Eurozone Consumer Confidence unexpectedly rises in May

  

  Eurozone Consumer Confidence Index unexpectedly rose from -22.0 in April to -21.1 in May, according to the latest data release from the European Commission. That was slightly better than the small expected rise to -21.5, but still left the index close to multi-year lows, as EU consumers struggle amid surging …

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• 20 May 2022 4:47 pm

  UK retail sales unexpectedly rose 1.4% month-on-month in April

  

  Britain’s retail sales unexpectedly rose 1.4% m/m after falling 1.2% in March, and sales in the three months to April fell 0.3% after a 0.7% drop in March. Britain’s consumer confidence index fell to its lowest level since the survey began in 1974, as this data comes as inflation in …

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• 20 May 2022 3:39 pm

  Dollar loses momentum after weeks of rally

  

  The US dollar is headed for its worst week since early February against major currencies on Friday, losing some of the momentum it gained from a sudden 10 percent rise in its value. The dollar received a boost from investors’ appetite for it as a safe haven amid turmoil in …

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• 20 May 2022 2:16 pm

  European shares rise, supported by hopes of an economic recovery in China

  

  European shares rose at the open on Friday, boosted by hopes of an economic recovery in China boosted by the central bank’s announcement of more stimulus, but the region’s stock index headed towards ending the week lower on recession fears. The mining and energy sectors led the gains and pushed …

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