Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2022

• 7 January 2022 1:41 pm

  Bitcoin Drops to Lowest Level Since September

  

  On Friday, Bitcoin fell more than five percent to its lowest level since the end of September, falling below $41,000 in a broader sell-off in cryptocurrencies. Bitcoin fell 3.7 percent in its last trading after touching $40,938, its lowest since September 29. The world’s largest cryptocurrency has lost more than …

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• 7 January 2022 12:59 pm

  The Nikkei Index Recovers Its Losses

  

  Japan’s Nikkei stock index recovered most of its morning losses to close almost flat on Friday as investors avoided big bets ahead of a major US jobs report and a three-day holiday in Japan. The Nikkei index ended trading down 0.03 percent to 28,478.56 points. The broader Topix index fell …

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• 7 January 2022 12:30 pm

  German Industrial Production Unexpectedly Drops in November

  

  Industrial Production in Germany unexpectedly fell in November, the official data showed on Friday, suggesting that the recovery in the manufacturing sector is faltering. Eurozone’s economic powerhouse’s industrial output fell by 0.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 1.0% …

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• 7 January 2022 4:15 am

  Market Drivers – US Session – 6 January

  

  The North American trading session closed Thursday with prevalent passive performance, while the US dollar has managed to retain its gains against most of the major currencies since the release of FOMC minutes.Economic DataThe weekly jobless claims reading rose to 207 thousand claims for the week ending 31 December, compared …

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• 7 January 2022 3:58 am

  Most Populous State In Australia To Reimpose COVID-19 Restrictions

  

  Australia’s New South Wales state, where Sydney is located and home of one third of Australia’s 25 million population, will re-impose restrictions including shutting nightclubs and canceling non-urgent surgeries because of record coronavirus contagions according to the Sydney Morning Herald in a report published early Friday.The news adds that the …

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• 7 January 2022 2:51 am

  ISM Data Reflects Status Of US Economic Recovery

  

  US businesses and firms have eventually managed to cope with shortages and Omicron. The ISM services index falls to three-month low of 62% from record 69.1%. Most US companies that service customers are still doing brisk business, but omicron threatens to dampen sales. The ISM figures have revealed that CVS, …

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• 7 January 2022 1:48 am

  US Equity Traders Eying NFP Data

  

  As traders continue to digest Wednesday’s hawkish Fed minutes, which caused US shares to retreat, and discuss its implications of the minutes to Fed’s policy tightening, US equity trading has displayed more passive performance. The S&P 500 Index has been hovering around the 4700 level on Thursday between 4670 lows …

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• 7 January 2022 12:58 am

  Could NFP Data Ignite More Hawkish US Policy?

  

  The financial markets’ traditionally favorite US economic statistic has been dethroned, and new classes of data became of higher importance. For the next several quarters, the main role of Nonfarm Payrolls will be to support, reinforce and confirm the Federal Reserve’s new policy which is highly sensitive to inflation. Short …

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• 6 January 2022 11:40 pm

  USD/CAD Slides On Strong Oil

  

  The Canadian dollar is struggling to navigate the latest omicron wave with mixed performance against the rising commodity prices.Oil Prices have left the pair in the middle of the range over the past six weeks with the bottom at 1.2600 and top at 1.2950. With all the lockdowns in Canada …

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• 6 January 2022 11:23 pm

  Fed’s Bullard: Could raise interest rates as soon as March

  

  St. Louis Fed President James Bullard said on Thursday that the US Fed could raise interest rates as soon as March. The Fed official, known as a hawk and aligned with the market sentiment, explained that the US central bank is now in a “good position” to take even more …

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• 6 January 2022 10:33 pm

  US Economy Expected to Grow in 2022

  

  Despite the uncertainty about the new coronavirus variant, the US economy ended 2021 on a high with rising consumer spending and falling unemployment. According to the US Economic scene published by the Conference Board in December, the Omicron variant does not seem to have dampened spirits for the coming year …

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• 6 January 2022 10:17 pm

  Consumer Demand for Goods Drove US Import Surge During Holidays

  

  US trade deficit in goods hit a fresh record in November due to strong demand and an easing of supply-chain issues.California’s Port of Los Angeles is struggling to keep up with the influx of cargo containers arriving at its terminals, creating one of the biggest obstruction points in the global …

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• 6 January 2022 9:51 pm

  Fed’s Daly: We will need to raise interest rates to keep economy in balance

  

  Federal Reserve Bank of San Francisco President and FOMC member Mary Daly said on Thursday that policymakers will need to raise interest rates to keep the economy in balance. “Even if we do a couple of interest rate increases, monetary policy will still be accommodative”, she added. Additional Remarks:“Inflation is …

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