Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 19 May 2022 7:27 pm

  GBP/USD tricks risk aversion, hits two weeks highs

  

  The GBP/USD pair is rising on Thursday, making a full recovery from Wednesday’s slide even as the stock market remains in red territory and under pressure. The pair managed to rise more than 150 pips from the daily low and recently hit 1.2512, the highest level since May 5. The …

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• 19 May 2022 5:37 pm

  US: Philadelphia Fed Manufacturing Index falls to 2.6 in May

  

  According to a report from the Federal Reserve Bank of Philadelphia released on Thursday, the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey slid to 2.6 in May from 17.6 in March. That was well below the expected decline to 16.0 and was the lowest reading since May …

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• 19 May 2022 5:03 pm

  US: Weekly Initial Jobless Claims rises to 218K

  

  There were 218,000 Initial Jobless Claims in the week ending on 14 May, a tad above the expected rise to 200,000 from 197,000 one week ago, data released by the US Department of Labour on Thursday showed. That meant the four-week average number of claims rose to 199,500 from 191,250 a week …

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• 19 May 2022 3:57 pm

  The dollar’s decline revives gold prices amid fears of weak growth

  

  Gold prices rebounded again on Thursday as a weaker dollar and lower US Treasury yields coupled with a drop in risky assets revived demand for the precious metal, which is considered a safe haven for value amid concerns about global growth. The price of gold in spot transactions jumped 0.8 …

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• 19 May 2022 2:05 pm

  European shares fell, affected by the decline in retail and US stocks

  

  European shares fell 1.7 percent on Thursday after heavy selling on Wall Street, as weak results from retail companies highlighted the impact of high inflation on the world’s largest economy. European retail stocks fell, following in the footsteps of their American counterparts, by 2.4 percent and was the biggest loser …

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• 19 May 2022 1:28 pm

  The euro is recovering a little and the focus is on the ECB’s policy

  

  The euro rebounded somewhat on Thursday after investors digested the possibility that the European Central Bank would tighten monetary policy aggressively in the near term, while the safe-haven dollar picked up a breath after making big gains in previous sessions. Financial markets are currently expecting a 106 basis point hike …

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• 19 May 2022 12:36 pm

  Japan says it will double financial support to Ukraine to 600 million dollars

  

  Japanese Prime Minister Fumio Kishida told reporters on Thursday that his country will double its financial aid to Ukraine to $600 million in a coordinated move with the World Bank to support the near-term financial necessities of the Russian-invaded country. “Our country stands by Ukraine,” Kishida said, adding that Japan …

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• 19 May 2022 3:52 am

  Market Drivers – US Session – Wed. 18 May

  

  The US dollar Index was unable to attract speculative interest, now hovering around $1,816 a troy ounce. Crude oil prices edged lower, with WTI now changing hands at $106.90 a barrel. The yield on the US 10-year Treasury note stands below 2.90%, as investors rushed into bonds’ safety.The EUR/USD pair …

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• 19 May 2022 3:28 am

  USD/JPY observes selling pressure on stronger yen.

  

  The USD/JPY pair has witnessed a slight rebound after hitting 128.00 low late during the US trading session. The pair has faced decent selling pressure on Wednesday despite a broader strength in the US dollar. The heightened risk-off impulse in the market is behind the dollar against the majority of …

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• 19 May 2022 2:18 am

  USD/CAD retreats as oil stabilizes near $106.50

  

  The USD/CAD pair meets sellers around 1.2900, retreating from the previous day’s recovery moves from a two-week low, as traders take a breather from the latest risk-aversion amid a sluggish start to the Asian session. That said, the Canadian dollar pair takes offers to renew intraday low around 1.2875 by …

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• 19 May 2022 1:57 am

  Fed’s Harker: Soft Landing Possible, Recession Not Likely

  

  Philadelphia Fed’s President Patrick Harker said he believes the central bank can bring inflation down without sending the economy into a recession, in part because the labour market is currently strong.“We may have a few quarters of negative growth, but again, that’s not what I’m estimating, what I’m forecasting right …

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• 19 May 2022 1:27 am

  AUD/USD reacts to Australia employment data

  

  The AUD/USD reverses the pullback from the weekly high, after posting the biggest daily fall in a week, as traders prepare for the Australia employment report for April. Even so, the broad risk-off mood probe the recovery moves near 0.6975-80 amid the early Thursday morning in Asia.Market sentiment soured the …

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• 19 May 2022 12:31 am

  US Equities slump as retailers ghost investors

  

  The stock markets dropped on Wednesday, extending their run this year as earnings from retailers including Target and Walmart reinforced concerns about the health of the US economy.The sharp declines were sparked after retailers warned they were facing higher costs and slowing sales, both of which were eating into their …

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