Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 4 May 2022 9:43 pm

  Could ADP Data Threaten Fed’s Rate Hikes?

  

  When markets participants feel worried about recession, all US data is suspicious. Hot inflation erodes household income. Producer prices are even higher than retail. In the US, where nearly all goods move by truck, diesel fuel hit an all-time record, ensuring inflation will be higher in April and May than …

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• 4 May 2022 9:37 pm

  European Central Bank Preview

  

  For the ECB, the latest Eurozone data provide a discomforting combination of record-high inflation and slow first-quarter growth. The level and widespread nature of the former are forcing the central bank to act, and markets are now pricing in 90 bp of rate hikes this year, although the latter provides …

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• 4 May 2022 9:20 pm

  USD/CHF Hits Fresh Highs Ahead Of Fed Decision

  

  The Swiss franc accumulates losses for the nine-consecutive trading session. US equities fluctuate between gainers and losers as risk appetite wobbles. The USD/CHF rallied and reached a two-year high at around 0.9839 as traders prepared for the monetary policy decision of the Federal Reserve. At 0.9829, the USD/CHF retraced from …

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• 4 May 2022 9:14 pm

  BoE Preview: Forecasts From Four Major Banks

  

  Wells Fargo “For May, the consensus forecast (and Wells Fargo forecast) is for the BoE to deliver another 25 bps hike, which would take the policy rate to 1.00%. We expect the BoE’s economic projection to include an upward revision to its CPI inflation forecast and a downward revision to …

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• 4 May 2022 8:47 pm

  Does Fed Know Where To Stop Hikes?

  

  The US central bank is to notch up on Wednesday its efforts to withdraw the stimulus it showered on the US economy after the pandemic upended global economies two years ago. Fed officials are expected to raise the benchmark rate by a half percentage point and approve plans to start …

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• 4 May 2022 8:22 pm

  US supply issues, inflation weighed on ISM services

  

  Data released on Wednesday showed the ISM Service Sector dropped unexpectedly to 57.1 in April. Analysts at Wells Fargo point out that while supply remains a problem for service-producers, a pullback in demand and hiring were the top factors weighing on activity during the month. Key Quotes: “Activity in the …

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• 4 May 2022 8:09 pm

  Canada’s energy trade surplus at an all-time high in March

  

  Canada registered another trade surplus in March, although below expectations: CAD 2.49 billion vs CAD 3.90 billion. Analysts at the National Bank of Canada highlight the trade surplus with the US reached a fresh record high. Key Quotes:“For the ninth time in the past ten months, Canada’s trade balance remained …

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• 4 May 2022 7:07 pm

  ISM Services PMI falls below expectations

  

  The headline ISM Services Purchasing Manager’s Index (PMI) fell to 57.1 in April from 58.3 in March, below expectations for a slight rise to 58.5, according to the latest release by the Institute for Supply Management (ISM). Subindices: The Business Activity Index rises to 59.1 from 55.5 in March. The …

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• 4 May 2022 5:09 pm

  Canada: International trade surplus falls in March

  

  According to the latest figures released on Tuesday by Statistics Canada, the Canadian Trade surplus fell unexpectedly to C$2.49B in March from C$3.08B a month earlier versus expectations for a rise to C$3.9B. Exports were up 6.3% MoM to C$63.63B from C$59.84 a month earlier, while imports were up 7.7% …

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• 4 May 2022 4:18 pm

  US: Private sector employment rises in April

  

  Private sector employment in the US rose by 247,000 in April, well below the expected gain of 395,000 jobs, according to US payroll company ADP’s latest estimate of national employment change released on Wednesday. That marked a sharp decline in the rate of job gains after 479,000 were added to the US …

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• 4 May 2022 3:24 pm

  The dollar continues to decline from the highest level in 20 years

  

  On Wednesday, the dollar index continued to retreat from its highest level in 20 years after it had already digested expectations that the Federal Reserve will raise interest rates by half a point later on Wednesday and about 250 basis points by the end of the year. Currency markets are …

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• 4 May 2022 2:33 pm

  Reuters: OPEC+ expects the surplus to rise in 2022

  

  A report seen by Reuters on Wednesday showed that the OPEC + alliance expects a surplus of 1.9 million barrels per day in 2022, an increase of 600,000 barrels per day from previous estimates, amid expectations of a slowdown in oil demand growth this year. The report, which was prepared …

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• 4 May 2022 1:26 pm

  Reuters: Russian oil exports outside the former Soviet Union rise 2%

  

  A source familiar with the matter told Reuters on Wednesday that Russian oil exports, excluding those destined for the former Soviet Union, rose to an average of 4.88 million barrels per day in the first four weeks of April, an increase of 2 percent compared to March. The source also …

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