Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 30 May 2022 5:02 pm

  Canada: Q1 Current Account rises to C$5B versus C$3.2B expected

  

  Canada’s Current Account for Q1 rose to C$5.0B from -C$0.1B in Q4 2021, bigger than the expected jump to C$3.2B, data released by Statistics Canada on Monday revealed. Positive moves in global commodity markets helped boost Canadian exports last quarter, and will likely do the same in Q2. 

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• 30 May 2022 3:06 pm

  The dollar continues to decline with a temporary recovery in stocks

  

  The dollar extended its decline on Monday as risk appetite in the markets temporarily increased, buoyed by positive economic data and bets that the Federal Reserve will tighten monetary policy at a slower pace. And the US currency index, which measures its performance against six major currencies, is on its …

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• 30 May 2022 2:08 pm

  Reuters: EU summit to agree to ban Russian oil imports

  

  European Union leaders are set to agree at a summit later on Monday that the package of sanctions being prepared should include a ban on Russian oil imports as punishment for Moscow’s invasion of Ukraine, with the exception of pipeline supplies. But the leaders, who have been unable to agree …

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• 30 May 2022 1:32 pm

  European shares rise on optimism from China’s stimulus measures

  

  European shares rose to surpass three-week highs on Monday as fresh stimulus measures in China boosted optimism that began last week, while investors looked forward to more economic data this week, including inflation in Germany. And the authorities in Shanghai, the Chinese commercial center, will cancel many conditions imposed on …

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• 30 May 2022 12:32 pm

  Gold prices rise in volatile trading with the decline of the dollar

  

  Gold prices rose in choppy trading on Monday, boosted by a weaker dollar, although some investors’ shift to riskier assets in Asia limited those gains. And gold rose in spot transactions 0.2 percent to $ 1856.86 an ounce at 0152 GMT. US futures rose 0.1 percent to $1,859.40 an ounce. …

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• 30 May 2022 12:11 pm

  Nikkei closes at the highest level in a month amid optimism about growth in China

  

  Japan’s Nikkei index closed at its highest level in more than a month on Monday, boosted by equipment and technology shares, after stimulus measures in Shanghai and the easing of Covid-19 restrictions calmed fears of a sharp slowdown in China, the world’s second-largest economy. The Nikkei index rose 2.19 percent …

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• 30 May 2022 6:26 am

  Financial Markets’ Weekly Recap, 23 – 27 May

  

  Wall Street closed sharply higher on Friday, as signs of inflation peaking and then data on consumer spending increased investor optimism that the Federal Reserve would be able to tighten monetary policy without pushing the economy into recession. All three major US stock indexes halted their longest streak of weekly …

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• 28 May 2022 4:29 am

  Market Drivers – US Session – 27 May

  

  The EUR/USD reached a fresh four-week high, around 1.0765, but in the last hour, retreated 30 pips, as the New York session come to close, on a positive trading session, courtesy of positive US data. At 1.0735, the EUR/USD is set to record weekly gains of 1.66% amidst a week …

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• 28 May 2022 2:34 am

  Bitcoin Still Trapped Below USD 30,000

  

  Crypto traders remain committed to risk-off after having experienced nine-week decline. Bitcoin is expected to further fall 27% decline this month, although it is up 10% from its recent extreme low at $25,840 on 12 May.The most famous cryptocurrency declined by nearly 3% over the past 24 hours’ trading and …

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• 28 May 2022 1:41 am

  US benefits depend on Pacific trade pact

  

  While the United States did not lose the trade war, it has not won it either. China’s economy has more keenly felt the brunt of increased tariffs, but if the goal was to force China to change its unfair trade practices, that effort has fallen flat.The United States has long …

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• 28 May 2022 1:03 am

  AUD/USD hits fresh highs on PCE data, ahead of Q1 GDP

  

  The Australian dollar reclaims the 0.7100 mark and records a fresh three-week high, up 0.83%. At 0.7159, the AUD/USD reflects the upbeat market sentiment amid the release of high US inflation, though ticking down from the March figure.Before Wall Street opened, the US Department of Commerce revealed that inflationary pressures …

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• 27 May 2022 11:58 pm

  Gold steadies around $1850s, hopeful for a catalyst to $1900

  

  Gold price climbs during the New York session but is still unable to challenge the weekly highs and remains glued to the 20-day moving average (DMA) near the $1848.48 area. Gold seems to aim at finishing the week’s trading with some 0.37% gains. US Core PCE eases from 5.1% YoY, …

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• 27 May 2022 11:08 pm

  USD/CAD’s selling pressure stands around 1.2780s

  

  The Canadian dollar is recording goodish gains in the week of 0.85%. Friday’s positive market sentiment boosted the appetite for high-beta currencies, like the CAD.The USD/CAD edges lower in the North American session, extending its weekly losses for the third successive week as investors shrugged off an aggressive Fed, as …

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