Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 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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• 27 May 2022 10:19 pm

  Food, energy prices could push the globe into recession

  

  Gas prices soared higher in the US while demand for gasoline drops before the beginning of the summer driving season. US President Joe Biden warned that Americans will likely feel “Putin’s price hike” at the gas pump in the foreseeable future. Russia’s invasion of Ukraine caused commodity prices to rise …

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• 27 May 2022 9:48 pm

  Consumer sentiment at 10-year low amid hot inflation

  

  The University of Michigan’s gauge of consumer sentiment fell to a final May reading of 58.4 from the initial reading of 59.1 earlier in the month, its lowest level in more than 10 years. Economists were expecting a reading of 59.1, according to a Wall Street Journal survey.The May Final …

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• 27 May 2022 9:02 pm

  US household spending rises in April

  

  US households boosted spending for a fourth straight month in April, but the savings rate fell to the lowest in 14 years, suggesting many Americans are tapping savings to balance cost increases imposed by hot inflation.Consumer spending rose by a seasonally adjusted 0.9% last month, the Commerce Department said Friday, …

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• 27 May 2022 8:28 pm

  GBP/USD retreats on PCE data

  

  The GBP/USD pair is about to post back-to-back weekly gains, up by 0.94%. The Fed’s favorite inflation gauge has eased from above the 5% threshold, showing signs that elevated prices could be peaking soon as the US Dollar Index bounces off weekly lows and grinds higher by 0.10%, sitting at …

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• 27 May 2022 7:48 pm

  Wells Fargo: US momentum in consumer spending continued into Q2

  

  Data released on Friday has showed that US Personal Spending surged in April by 0.9%, above expectations. Wells Fargo’s analysts point out that for the first time since October 2021 income outpaced inflation. Analysts also forecast consumer spending will downshift over the next quarters. Key Quotes: “Personal income rose 0.4% …

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• 27 May 2022 7:19 pm

  WTI poised to end strong trading week around $114

  

  WTI crude oil has stabilized just below monthly highs near the $114 level, as bulls eye further catalysts towards $120. Familiar themes of strong US demand, EU/Russia oil sanctions, OPEC+ output struggles and easing Chinese lockdowns are supporting prices.The EU’s plans to sanction Russian oil imports have also been in …

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• 27 May 2022 5:40 pm

  Oil heads for weekly gains amid global supply concerns

  

  Oil prices fell on Friday, but they are on track to achieve weekly gains, supported by expectations of reduced supplies due to increased gasoline consumption in the United States during the summer, as well as the possibility of a European Union ban on Russian oil imports. By 1104 GMT, Brent …

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• 27 May 2022 4:13 pm

  Russian official: Europe suffers from the effects of sanctions against Moscow

  

  Deputy Chairman of the Russian Security Council Dmitry Medvedev stressed today that it is difficult for Russia to live under the conditions created by foreign sanctions against Moscow, noting that Europe is also suffering from the consequences of these decisions. Medvedev said – during his statements at a conference of …

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• 27 May 2022 2:48 pm

  The dollar is heading for the largest weekly decline in nearly 4 months

  

  The dollar is heading for its biggest weekly decline in nearly four months after traders cut their expectations for a US interest rate hike amid indications that the Federal Reserve may slow or halt the monetary tightening cycle in the second half of the year. The dollar index, which measures …

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• 27 May 2022 2:16 pm

  Nikkei closes higher after falling for three sessions as Wall Street rises

  

  Japan’s Nikkei ended three straight sessions of losses on Friday, tracking Wall Street’s overnight rally, although gains were limited as investors began selling shares as the index approached the sentimentally significant 27,000 point level. The Nikkei index rose 0.66 percent to close at 2,6781.68 points, and closed up by 0.16 …

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• 27 May 2022 1:29 pm

  European shares open higher

  

  European shares rose in early trade on Friday, eyeing gains for the third consecutive session as sentiment rose after expectations that central banks would tighten their policies more than they indicated. The pan-European Stoxx 600 index rose 0.3 percent by 0714 GMT, influenced by a rally on Wall Street in …

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• 27 May 2022 12:41 pm

  Gold is heading for weekly gains with the dollar’s decline

  

  Gold prices rose on Friday, with continued dollar weakness, which helped move the yellow metal towards recording its second consecutive weekly rise, as expectations of a stronger monetary policy tightening from the Federal Reserve ebbed. Spot gold rose 0.2 percent to $1,854.05 an ounce by 0325 GMT. US gold futures …

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