Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 17 May 2022 8:37 pm

  Wells Fargo: US strong production still encouraging

  

  Data released on Tuesday showed Industrial Production rose 1.1% in April. Analysts at Wells Fargo point out that US factories, mines and energy producers together called more capacity into service than at any other time since the start of the pandemic. They warn supply chains are not fixed and could …

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• 17 May 2022 7:57 pm

  US Retail Sales Rise Despite Inflation, Dipping Consumer Confidence

  

  Despite rising interest rates, high inflation and product shortages, retail sales rose above expectations in April and upward revisions to the prior month suggests a better first quarter for consumer spending than first reported, explained analysts at Wells Fargo. Key Quotes: “The main takeaway is that despite all the obvious …

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• 17 May 2022 7:09 pm

  USD/CAD rebounds as the US dollar stabilizes

  

  The USD/CAD bounced to the upside and eared losses on Tuesday after the greenback gained momentum during the American session. The pair printed a fresh daily high at 1.2854 and it is hovering around 1.2845. Earlier on Tuesday it bottomed at 1.2805, the lowest level since May 5.Economic data from …

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• 17 May 2022 4:17 pm

  Oil rises, supported by EU efforts to ban Russian crude, hopes for demand

  

  Oil prices rose to a seven-week high on Tuesday, buoyed by continued pressure from the European Union to ban Russian crude imports that would reduce supply, and as investors focused on increasing demand after the easing of Chinese coronavirus lockdowns. On Monday, EU foreign ministers failed in their efforts to …

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• 17 May 2022 2:20 pm

  Euro area GDP grows at an annualized rate of 5.1% in Q1

  

  The data published by Eurostat showed on Tuesday that the seasonally adjusted Gross Domestic Product grew at an annualized rate of 5.1% in the first quarter, compared to the market expectation of 5%.On a quarterly basis, GDP increased by 0.3%. Finally, the Employment Change was up 0.5% in the first …

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• 17 May 2022 1:58 pm

  Russian oil production declines by 9% in April

  

  An internal report seen by Reuters showed today, Tuesday, that Russian crude oil production fell by about 9% to 9.16 million barrels per day, based on assessments of sources from OPEC +. The report stated that the commitment of members of the OPEC + group to production cuts rose to …

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• 17 May 2022 1:28 pm

  European shares rise on optimism about easing China’s Covid lockdown

  

  European shares rose on Tuesday and were set to extend their gains for the third consecutive session, supported by hopes of continued demand from China as authorities look to ease COVID-19 restrictions. The Stoxx 600 index rose 0.7 percent by 0710 GMT, with gains for all major sub-sectors, led by …

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• 17 May 2022 12:38 pm

  Japan’s Nikkei rises for a third day on optimism about China

  

  Japan’s Nikkei index closed higher for the third consecutive session on Tuesday, as optimism over the end of the lockdown imposed to combat COVID-19 in China, Japan’s main trading partner, outweighed the disappointing financial results. The Nikkei index witnessed volatile trading, before closing up 0.42 percent at 26,659.75 points, after …

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• 17 May 2022 5:37 am

  Market Drivers – US Session – May 16

  

  The US dollar briefly edged higher at the beginning of the week but closed with modest losses against most rival currencies as equity markets changed direction. European indexes closed mixed, but Wall Street managed to post gains. Safe-haven currencies posted modest gains against the US dollar as well.Economic DataThis week, …

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• 17 May 2022 5:11 am

  US: Retail Sales rise by 0.9% MoM in April

  

  US Retail Sales rose at a pace of 0.9% MoM in April, in line with the expected pace of 0.9% but slower versus the previous month’s 1.4% MoM pace of gain (which had been revised up from 0.7%), data released by the US Census Bureau on Tuesday revealed. YoY, sales …

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• 17 May 2022 5:08 am

  Stronghold Surpasses Q1 Revenue Estimates

  

  The bitcoin miner, Stronghold known for using waste coal for energy, had its shares retreating slightly in after-hours trading.Stronghold reported Q1 revenues of $28.7 million versus estimated $26.2 million. But its adjusted net loss of 66 cents per share exceeded the consensus estimate for an adjusted net loss of 8 …

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• 17 May 2022 4:56 am

  Poll: ECB to hike deposit rate 25 bps in July

  

  “The European Central Bank (ECB) is expected to raise the deposit rate for the first time in over a decade in July and bring it out of negative territory at its following meeting in September, despite a 30% chance of recession within a year,” per the latest Reuters poll of …

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• 17 May 2022 4:12 am

  US shares slide as slowdown signals digested

  

  The S&P 500 dropped, dragged lower by a slide in megacaps including Tesla Inc., Amazon.com Inc. and Apple Inc. The risk of an economic slowdown amid price pressures and rising borrowing costs is still the major concern for markets.Equities fell back toward session lows in the last hour of trading …

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