Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2022

• 3 February 2022 10:45 pm

  USD/CAD Reverses Back As Oil Prices Advance

  

  The USD/CAD has traded in a relatively directionless fashion on Thursday, initially strengthening towards above 1.2700 as the Canadian dollar weakened in tandem with an earnings-driven downturn in global equities, but more recently dropping back to the 1.2675 area on rising oil prices.At current levels, the pair is back to …

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• 3 February 2022 9:01 pm

  Ahead of NFP Data, Could Economic Recovery Reverse Direction?

  

  Omicron put a massive bump in the road to America’s recovery this winter. The first signs of trouble could show up in the January jobs report on Friday, 4 February. Goldman Sachs cites survey data indicating a surge in absenteeism during the month to expect Omicron-led temporary declines in the …

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• 3 February 2022 8:23 pm

  ECB Policymakers See Change At March Meeting If Inflation Worsens

  

  European Central Bank policymakers see a policy change at the March meeting if inflation does ease, said sources speaking to Reuters.The sources said that policymakers see a faster pace of tapering of the Asset Purchase Programme (APP) as its first point of call to fight higher inflation. According to the …

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• 3 February 2022 7:05 pm

  US Final January Markit Services PMI Surges Above Expectation

  

  According to the final version of IHS Markit’s Services PMI survey, the headline index was 51.2 in January, above the flash estimate for a 50.9 reading. The final Composite PMI came in 51.1 in January, also above the flash reading of 50.8. January US PMI Composite Index (Final): 51.1 vs. …

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• 3 February 2022 6:20 pm

  Market Drivers – European Session 3-2-2022

  

  It was Central Banks Day today and there are several drivers for the markets. The Bank of England announced its monetary policy decision on Thursday and raised the benchmark interest rate by 25bps to 0.50%. The Monetary Policy Committee (MPC) voted 5-4 in favor of a 25 bps rate hike. …

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• 3 February 2022 4:50 pm

  ECB Leaves Rates Unchanged

  

  The European Central Bank opted to leave its deposit rate unchanged at -0.5% on Thursday as unanimously expected. The bank maintained its guidance on interest rates, saying they would remain at present or lower levels until the conditions for a rate hike have been met. The bank also reaffirmed its …

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• 3 February 2022 4:05 pm

  Bank of England Hikes Interest Rates by 25bps to 0.50%

  

  The Bank of England announced its monetary policy decision on Thursday and raised the benchmark interest rate by 25bps to 0.50%. The Monetary Policy Committee (MPC) voted 5-4 in favour of the rate hike. The decision was in line with market expectations and marked the first back-to-back rises since 2004. …

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• 3 February 2022 3:28 pm

  BoE Preview: Forecasts From Foure Major Banks

  

  The Bank of England (BoE) will announce its decision on Thursday, February 3 at 12:00 GMT, and as we get closer to the release time, here are the expectations forecast by the economists and researchers of 4 major banks. Deutsche Bank “We expect the BoE to follow up their December …

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• 3 February 2022 1:33 pm

  European Shares Fall Under Pressure

  

  European shares fell on Thursday as investors feared a possible interest rate hike and monetary policy tightening ahead of key European Central Bank decisions later Thursday amid mounting inflation pressures. The pan-European Stoxx 600 index fell 0.3 percent, led by interest rate-sensitive sectors, such as manufacturing, healthcare, and technology. Data …

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• 3 February 2022 12:54 pm

  Turkey’s Inflation Rate Rises to 48.7%, The Highest Level in 20 Years

  

  Turkey’s annual inflation rate jumped more than expected to 48.69 percent in January, hitting its highest level in nearly two decades, data showed on Thursday, driven by a series of unconventional interest rate cuts and a sharp depreciation of the lira late last year. The Turkish Statistical Institute said the …

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• 3 February 2022 9:12 am

  Market Drivers – US Session – 2 February

  

  The US trading session closed on Wednesday with mixed results, most notably the decline of the US dollar and the New York Stock Exchange at the same time due to negative employment data.Economic dataThe reading of the index of change in employment in the non-agricultural sectors in the United States …

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• 3 February 2022 12:59 am

  BoC’s Macklem: Uncertain About How Quickly Inflation Will Decline

  

  Bank of Canada Governor Tiff Macklem on Wednesday said that there is some uncertainty about how quickly inflation will come down due to the unique nature of the COVID-19 pandemic, which has helped drive up prices. However, Macklem added that the bank is confident that inflation will eventually come down, …

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• 3 February 2022 12:43 am

  US Dollar Retains Weak Stance Ahead Of BoE, ECB Meetings

  

  The American dollar kept falling on Wednesday to reach fresh weekly lows against its high-yielding rivals. The EUR/USD pair reached 1.1329 as the EU annual Consumer Price Index jumped to 5.1% in January, largely surpassing the 4.4% expected and above the 5% previous. The reading came one day ahead of …

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