Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 5 May 2022 10:16 pm

  What Could Assets Expect From Friday’s NFP Data?

  

  A few hours after the NFP release on Friday, gold investors could look to book profits toward the London fix, causing important assets, such as gold, to reverse direction after the initial reaction. Moreover, FOMC policymakers have clarified that they will focus on taming hot inflation, so they seem not …

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• 5 May 2022 10:07 pm

  GBP/USD retreats post-BoE’s rate hike, recession concerns

  

  The British sterling retreated on Thursday after the Bank of England hiked 25-bps interest rates in a 6-3 split decision. However, the UK central bank’s projections of a probable UK recession in 2023 shifted sentiment negatively, spurring a 280-pip drop from near weekly highs from 1.2630s to below 1.2350. At …

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• 5 May 2022 8:43 pm

  Shopify stock down 17% after earnings miss

  

  Shopify posted adjusted earnings of 20 cents per share, while Wall Street had expected 63 cents per share, according to a Refinitiv survey of analysts. Revenue grew 22% year over year to $1.2 billion, but that still fell short of Wall Street’s projected $1.24 billion.Shares of Shopify plunged more than …

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• 5 May 2022 8:29 pm

  USD/JPY Surges As US Yields Jump

  

  The USD/JPY pair rose further climbing above the level it had before the FOMC meeting. It is testing the weekly high near 130.40 after rising from than 150 pips from the daily lows boosted by higher US yields.The selloff in Treasuries resumed after a two-day pause and the day after …

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• 5 May 2022 8:13 pm

  Gold Retreats On Risk Aversion

  

  Gold has extended its losses below solid resistance around $1890. The Gold Index is recording losses during the North American session, retreating from daily highs around $1909.66, amid a risk-off market sentiment.Two central banks expressed worries about China, while the Bank of England foresees a GDP contraction on 2023 for …

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• 5 May 2022 7:30 pm

  Rehn suggests ECB’s hike in July

  

  Olli Rehn, one of the European Central Bank’s officials spoke out in favor of an interest-rate increase in July, suggesting a growing shift on the Governing Council toward such a move. The governor of the Finnish central bank is one of more dovish policy makers and member of the ECB’s …

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• 5 May 2022 7:18 pm

  WTI Crude Trades Above $110

  

  Oil prices rallied for a second straight session on Thursday, with front-month WTI futures briefly hitting their highest levels in more than one month above the $110 per barrel mark before more recently pulling back closer to $109.00. The WTI crude oil rallied above $110 to hit its highest levels …

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• 5 May 2022 7:08 pm

  US Equities Reverses Post-Fed Gains

  

  The S&P 500 recently fell back below the 4,200 level, taking its losses to more than 2.5% or 100 points as US equities have largely reversed Wednesday’s post-Fed rally, with big tech names leading the decline as yields surge.Wednesday’s post-Fed soaring was short-lived, with all the three major US equity …

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• 5 May 2022 5:14 pm

  US: Weekly Initial Jobless Claims rise to 200K

  

  There were 200,000 initial jobless claims in the US in the week ending on 30 April, according to the latest data released by the Department of Labour on Thursday. That was above expectations for a slight rise from 181,000 in the prior week to 182,000. That brought the four-week average number …

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• 5 May 2022 3:39 pm

  Expectations of OPEC + to stick to modest increases in oil production amid high prices

  

  The OPEC+ alliance is likely to stick with a plan to raise oil production modestly on Thursday and confirm that it is not responsible for global supply disruptions while stressing that the coronavirus-related shutdowns in China threaten demand expectations. Five OPEC+ delegates are expected to agree to an increase of …

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• 5 May 2022 3:05 pm

  BoE hikes interest rates by 25 bps to 1.0%

  

  The Bank of England on Thursday raised interest rates by 25 bps to 1.0%. Six of the bank’s nine rate-setters supported the 25 bps hike, though three wanted a larger 50 bps move. The rate hike was in line with expectations, but the vote split was more hawkish than expected, …

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• 5 May 2022 2:22 pm

  German Factory Orders plunge 4.7% MoM in March

  

  The German Factory Orders fell sharply in March, suggesting that the manufacturing sector of Europe’s economic powerhouse is seeing a fresh downturn. Contracts for goods ‘Made in Germany’ declined by 4.7% on the month vs. -1.1% expected and -0.8% last, the latest data published by the Federal Statistics Office showed on …

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• 5 May 2022 1:38 pm

  Inflation in Turkey jumps to 70% in April, the highest level in 20 years

  

  Turkey’s annual inflation rate jumped to 69.97 percent in April, exceeding expectations and constituting the highest inflation level in two decades, data showed on Thursday, driven by the Russian-Ukrainian conflict and the rise in commodity prices after the lira collapsed late last year. The Turkish Statistical Institute said consumer prices …

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