Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 31 May 2022 5:26 pm

  Canada: Real GDP expands by 0.7% MoM in March

  

  Canadian real GDP expanded at a pace of 0.7% MoM in March, according to the latest data release by Statistics Canada on Tuesday. That was above the median economist forecast for a 0.5% MoM pace of expansion but down from February’s 0.9% MoM growth rate.

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• 31 May 2022 4:23 pm

  The euro continues its losses after inflation data

  

  The euro extended losses on Tuesday after data showed that inflation in the eurozone hit a record high in May, but expectations that the European Central Bank will raise interest rates soon kept the single European currency on track for its best monthly performance in a year. Inflation in the …

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• 31 May 2022 3:03 pm

  EU leaders agree to ban most Russian oil imports

  

  European Union leaders agreed in principle on Monday to cut oil imports from Russia by 90 percent by the end of this year, ending a standoff with Hungary over the bloc’s toughest sanctions yet on Moscow since the invasion of Ukraine three months ago. Diplomats said the agreement would pave …

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• 31 May 2022 1:57 pm

  Eurozone Preliminary Inflation surges 8.1% YoY in May

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) soared by 8.1% in May vs. the previous reading of 7.4%, the latest data published by Eurostat showed on Tuesday. The consensus forecast was for a reading of 7.7%. The core figures arrived at 3.8% YoY in May when compared to …

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• 31 May 2022 12:35 pm

  German stocks lead European shares decline

  

  German stocks led European stock markets lower on Tuesday after a bigger-than-expected rise in inflation in Germany, the region’s largest economy, raised fears of tightening measures from central banks. Investors are now awaiting annual inflation data in the eurozone for the month of May, which is expected to be released …

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• 31 May 2022 2:21 am

  EU diplomat: Bloc agrees to ban 90% of Russian oil imports by end of 2022

  

  EU leaders are meeting for an off-schedule summit with some progress regarding Russian sanctions. The EU Council President Charles Michel said the officials have agreed to ban the export of Russian oil to the EU. According to Michel, the EU ”agrees to de-swifting the largest Russian bank Sberbank, banning 3 …

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• 31 May 2022 2:11 am

  Market Drivers – US Session – Monday 30 May

  

  The US dollar remains under pressure in the first trading day of the week, sliding against most major rival currencies. The USD/JPY pair, however, edged higher amid the better tone of stocks markets.Economic Data No remarkable economic data was released on Monday. Other Developments EU representatives are still discussing the …

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• 31 May 2022 1:24 am

  RBNZ’s Hawkesby: Need to tighten conditions past neutral of 2%

  

  The Reserve Bank of New Zealand General Manager Christian Hawkesby said, on Monday, that the central bank needs to tighten conditions past neutral of 2% and reduce stimulus. Hawkesby forecasts a period of subdued consumption. He also said the risk of a recession is a possibility. The NZD was boosted …

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• 31 May 2022 12:28 am

  Are Knots Getting Tighter Around Russian Economy?

  

  If the Russian ruble is, against any practical scale, an indicator of the nation’s economic conditions, one can easily conclude that an initial storm has been caused by the West’s sanctions. When the West reacted to Russia’s military operation in Ukraine with a bulk of financial and trade sanctions, the …

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• 30 May 2022 10:29 pm

  Why do some economists see US stagflation inevitable?

  

  The first quarter of 2022 recorded US GDP growth rate of minus 1.5%, although nearly 1.7 million jobs have been created. For the second quarter, job growth is expected slow down, but most economists are forecasting growth to be in the 2% to 3% range. If economists are wrong and …

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• 30 May 2022 9:23 pm

  Cash Crisis Amid China’s Stalling Economy

  

  The cash crisis emerging at four rural banks in the central Chinese province of Henan is currently every saver’s nastiest nightmare.Deposits at four rural banks in the central Chinese province of Henan have been frozen since April 18, with looming protests in the capital city of Zhengzhou despite President Xi …

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• 30 May 2022 8:50 pm

  USD/CAD slides to fresh monthly lows

  

  The USD/CAD continued to decline during the North American session and recorded a fresh one-month low at 1.2649. the pair is hovering now near the lows, holding onto daily losses, about to post the fourth consecutive decline.The combination of an improvement in market sentiment, higher crude oil prices and a …

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• 30 May 2022 7:54 pm

  Gold steadies above $1850

  

  Gold begins the trading week with relatively positive performance, up by 0.20%. the Holiday in the US is expected to keep the precious metal’s prices within a tighter range amid a busy US economic calendar week.An absent US economic docket on Monday keeps gold traders leaning on market sentiment and …

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