Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 24 May 2022 11:27 pm

  EUR/JPY gains despite retreating from weekly highs

  

  The EUR/JPY edges lower after reaching fresh weekly highs at around 136.79 and daily lows just below the 50-DMA at 135.64, blamed on the negative market sentiment that increased appetite for safe-haven peers. The EUR/JPY pair is trading at 136.16.Risk aversion continued for the second consecutive day in the week. …

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• 24 May 2022 10:23 pm

  USD/CAD edges higher amid slowdown concerns

  

  At 1.2824, USD/CAD is higher on Tuesday so far as the commodity sector is shaken by concerns about weak earnings and slowing economic growth punctured the recent mini-rally. Shares have been performing negatively while traders, market participants and investors are still concerned over China’s economy.At the start of the week, …

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• 24 May 2022 9:27 pm

  AUD/USD slides as investors rethink macro outlook

  

  The Australian dollar eased on Tuesday as global stocks underperformed while investors remain concerned over China’s economy and COVID lockdowns. At the start of the week, traders favoured the pledges of more stimulus from China’s government over the prospects of a prolonged lockdown in various regions of the nation that …

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• 24 May 2022 8:44 pm

  Fed’s Bostic: Might need to pause rate hikes in September

  

  Federal Reserve’s Raphael Bostic said rate hikes won’t cause a recession and that the central bank can hike rates to deal with overly high inflation without sending the US economy into recession.He repeats that the Fed rates hikes can take some pause arguing that the Fed might need to pause …

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• 24 May 2022 8:02 pm

  US equities subject to losses until readiness to stop QT declared by Fed

  

  There are signs of easing inflationary pressures and moderating growth but not enough to prompt a shift by the Fed yet. The Fed is expected to raise interest rates by another 0.5 percentage point in June.The stock market sell-off will end when the Fed signals it’s done tightening monetary policy, …

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• 24 May 2022 7:09 pm

  ECB’s Kazaks: Shouldn’t rule out a 50 bps rate hike

  

  European Central Bank policymaker Martins Kazaks said on Tuesday that the bank should not rule out a 50 bps rate hike, and that he sees possible rate hikes in July, September and potentially one more in the fourth quarter. Kazaks ‘ comments come after fellow ECB policymaker Robert Holzmann called …

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• 24 May 2022 4:53 pm

  Moderna is testing a potential monkeypox vaccine

  

  Moderna is testing a potential monkeypox vaccine in preclinical testing as the disease spreads in the United States and Europe. The World Health Organization said on Tuesday that the number of confirmed cases of monkeypox has reached 131 and there are 106 other suspected cases since the first infection was …

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• 24 May 2022 3:56 pm

  Gold Price Loses Steam

  

  Gold rose in Tuesday morning trading in Asia. The dollar also rose and stabilized after falling during the previous session, which pushed the yellow metal to the highest point in two weeks. Gold futures rose 0.17% to $1,850.94 by 11:10 PM ET, after hitting their highest since May 9 at …

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• 24 May 2022 3:45 pm

  Oil falls on recession fears, anti-Covid-19 restrictions in China

  

  Oil prices fell by nearly a dollar on Tuesday, on fears of a possible recession and restrictions to combat COVID-19 in China, which outweighed the impact of tight global supply and expectations of increased demand for fuel as the summer travel season begins in the United States. Investment banks including …

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• 24 May 2022 2:39 pm

  European shares fall as slowdown fears exacerbated by business growth data

  

  European shares fell on Tuesday, tracking declines in global stock markets as investors renewed concerns about slowing economic growth and monetary policy tightening due to business expansion data for May. The pan-European Stoxx 600 index was down 0.8 percent by 0818 GMT, giving up much of Monday’s 1.3 percent gain. …

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• 24 May 2022 1:55 pm

  Gold rises with increased demand

  

  Gold prices strengthened on Tuesday, with the US dollar falling to its lowest level in a month for the second session in a row, making the yellow metal priced in dollars less expensive for buyers abroad. Spot gold rose 0.3% to $1,858.19 an ounce by 07:57 GMT, after rising to …

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• 24 May 2022 1:12 pm

  Nikkei falls on lower US futures and Asian stocks

  

  Japan’s Nikkei fell at the close on Tuesday, dragged down by declines in US futures and Asian stocks, as investors looked for fresh stimulus after the corporate earnings season ended, which in turn weighed on sentiment. The Nikkei gave up the gains recorded earlier in the session and closed down …

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• 24 May 2022 12:05 pm

  Europe may ban Russian oil ‘within days’

  

  Germany announced that the European Union is likely to agree to a ban on Russian oil imports “within days”. At the same time, Moscow said it would work to strengthen its economic ties with China after it fell under the guillotine of Western isolation over its invasion of Ukraine. Ukrainian …

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