Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 18 May 2022 4:12 am

  Market Drivers – US Session – 17 May

  

  US stocks rose on Tuesday, as Citigroup led a surge in bank shares after Berkshire Hathaway revealed strong retail sales in April to ease some concerns about slowing US economic growth. Ten of the 11 major S&P sectors advanced, with financials and technology up 2% each.Economic DataUS retail sales increased …

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• 18 May 2022 3:55 am

  Crude Oil Falls 2% On Powell’s Comments, Prospected Supply

  

  After hitting seven-week highs, crude oil prices fell after Fed Chair Jerome Powell warned the US economy could be hurt by attempts to reduce inflation. Crude oil prices also retreated 2% on Tuesday as the United States decided to ease restrictions on Venezuela, the news has raised hopes that the …

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• 18 May 2022 2:35 am

  Will cryptocurrencies rebound after price crash?

  

  With cryptocurrencies, the future is and will remain uncertain. The one factor that stirs hope to crypto traders and investors is that big players are starting to join the trading game.On Wall Street, JPMorgan Chase, Morgan Stanley and Goldman Sachs are just some examples that employ dedicated cryptocurrency teams. In …

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• 18 May 2022 1:36 am

  Euro, bond yields surged on comments by ECB official

  

  The euro rallied on Tuesday, helped by a rise in government bond yields as well as comments from a European Central Bank policymaker in which he said a half percentage point interest rate hike is possible.Klaas Knot told a Dutch television program said he favors a quarter-point rate hike, but …

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• 18 May 2022 1:09 am

  US Dollar Further Declines As Sentiment Improves

  

  The US dollar edged lower across the board as the American currency extended the bearish corrective decline that began on Monday. Positive US data has helped the case for a better market sentiment, with global indexes closing in the green.The underlying concerns remain the same. Tensions between Europe and Russia …

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• 18 May 2022 12:02 am

  ECB’s Lagarde allows chief central bankers louder voice on policy

  

  ECB President Christine Lagarde has allowed national central bank chiefs a bigger say in policy meetings, asking her board members to speak less and set aside more time for debate.Lagarde has told chief economist Philip Lane and board member Isabel Schnabel to limit their presentations and leave more space for …

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• 17 May 2022 11:40 pm

  Gold Price Reacts to Powell’s hawkish comments

  

  Gold goes offered on a hawkish Powell as the US dollar rallies. The US dollar has popped out of a 15-min wedge formation to the upside. The US Dollar Index was down 0.82% at 103.33, a touch away from the low of 103.226 ahead of the Powell event. On hawkish …

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• 17 May 2022 11:29 pm

  Risk assets return into positive territories on Powell’s Comments

  

  Federal Reserve Chair Jerome Powell said on Tuesday that US central bank officials will keep tightening policy until inflation comes down in “a convincing way.”“There have been some promising signs you can point to,” Powell said at a Wall Street Journal conference. But, he added, “There are some signs that …

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• 17 May 2022 10:34 pm

  Fed’s Powell: ‘Keep tightening’ policy until inflation declines

  

  The US dollar is crumbling, this week as investors survey the landscape of the global economy, not just in the US. The dollar has fallen victim to improved risk sentiment, helping the likes of the euro that has been extending its rebound from a five-year low touched last week, and …

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• 17 May 2022 9:36 pm

  Euro Benefits From Risk Appetite Ahead of Powell’s Speech

  

  The euro is higher versus the US dollar by 1.13% rallying on wider risk-on from 1.0428 to a high of 1.0555. The euro has extended the rebound from a five-year low touched last week while the US dollar is down against its major trading partners.The euro benefited at the start …

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• 17 May 2022 8:37 pm

  Wells Fargo: US strong production still encouraging

  

  Data released on Tuesday showed Industrial Production rose 1.1% in April. Analysts at Wells Fargo point out that US factories, mines and energy producers together called more capacity into service than at any other time since the start of the pandemic. They warn supply chains are not fixed and could …

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• 17 May 2022 7:57 pm

  US Retail Sales Rise Despite Inflation, Dipping Consumer Confidence

  

  Despite rising interest rates, high inflation and product shortages, retail sales rose above expectations in April and upward revisions to the prior month suggests a better first quarter for consumer spending than first reported, explained analysts at Wells Fargo. Key Quotes: “The main takeaway is that despite all the obvious …

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• 17 May 2022 7:09 pm

  USD/CAD rebounds as the US dollar stabilizes

  

  The USD/CAD bounced to the upside and eared losses on Tuesday after the greenback gained momentum during the American session. The pair printed a fresh daily high at 1.2854 and it is hovering around 1.2845. Earlier on Tuesday it bottomed at 1.2805, the lowest level since May 5.Economic data from …

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