Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2022

• 4 February 2022 3:11 am

  How Will Canada’s Jobs Data Influence The Loonie?

  

  The latest batch of Canadian employment data will hit the markets on Friday. So far, it looks that the Omicron wave hit the labour market in January, with forecasts pointing to a drop of jobs. This is probably a temporary setback. The loonie has been driven mostly by risk sentiment …

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• 4 February 2022 2:51 am

  US ISM Service, Scarcity Weighing On Production

  

  Data released on Thursday showed the ISM Service Index dropped to the lowest level in 11 months in January. Analysts at Wells Fargo point out it reflects how a lack of available workers and persistent supply shortages “are weighing on firms’ ability to keep up with activity in the service …

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• 4 February 2022 2:41 am

  NZD/USD Bulls Eying Golden Ratio Around NFP

  

  At 0.6661, the bulls are in charge and the bird of 0.5% higher on Thursday’s business in the remaining hour of the US trading session. The price has climbed from a low of 0.6609 to score a high of 0.6681 so far as traders await the outcome of Friday’s US …

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• 4 February 2022 1:22 am

  WTI Surges Above $90.00 For The First Time Since 2014

  

  Front-month WTI futures surged above the $90.00 level for the first time since 2014 in recent trade on Thursday, taking their on-the-day gains to more than $2.0, which would mark the best one-day performance in three weeks. No specific one fundamental catalyst can be singled out as behind the recent …

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• 4 February 2022 1:04 am

  S&P 500 Drops Back As Meta’s Earnings Hammer Equity Sentiment

  

  The S&P 500 slumped back below the 4500 level on Thursday, dropping over 2.0% on the day. Equity market sentiment took a battering after dour earnings guidance from tech giant Meta Platforms (Facebook). Focus has shifted to Amazon earnings after the closing bell and Friday’s US jobs report. Major US …

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• 4 February 2022 12:13 am

  Gold Index Bounces Back As Traders Anticipate Bearish USD On NFP Data

  

  Gold has found some bidders again after a quick but short trip to the downside on Thursday. At $1,805, the yellow metal is about flat again on the day as traders now get their sights on Friday’s Nonfarm Payrolls data. Gold was hit hard on the back of a spike …

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• 3 February 2022 10:55 pm

  GBP/USD Stalls Post BoE’s Interest Rate Policy Decision

  

  GBP/USD bulls take a breather around a fortnight high surrounding 1.3600, during the sixth positive day amid Friday’s Asian session. Earlier, on Thursday, at 1.3605, GBP/USD off its highs of the day by is still positive by some 0.23% following the Bank of England that raised interest rates to 0.5% …

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• 3 February 2022 10:45 pm

  USD/CAD Reverses Back As Oil Prices Advance

  

  The USD/CAD has traded in a relatively directionless fashion on Thursday, initially strengthening towards above 1.2700 as the Canadian dollar weakened in tandem with an earnings-driven downturn in global equities, but more recently dropping back to the 1.2675 area on rising oil prices.At current levels, the pair is back to …

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• 3 February 2022 9:01 pm

  Ahead of NFP Data, Could Economic Recovery Reverse Direction?

  

  Omicron put a massive bump in the road to America’s recovery this winter. The first signs of trouble could show up in the January jobs report on Friday, 4 February. Goldman Sachs cites survey data indicating a surge in absenteeism during the month to expect Omicron-led temporary declines in the …

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• 3 February 2022 8:23 pm

  ECB Policymakers See Change At March Meeting If Inflation Worsens

  

  European Central Bank policymakers see a policy change at the March meeting if inflation does ease, said sources speaking to Reuters.The sources said that policymakers see a faster pace of tapering of the Asset Purchase Programme (APP) as its first point of call to fight higher inflation. According to the …

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• 3 February 2022 7:05 pm

  US Final January Markit Services PMI Surges Above Expectation

  

  According to the final version of IHS Markit’s Services PMI survey, the headline index was 51.2 in January, above the flash estimate for a 50.9 reading. The final Composite PMI came in 51.1 in January, also above the flash reading of 50.8. January US PMI Composite Index (Final): 51.1 vs. …

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• 3 February 2022 6:20 pm

  Market Drivers – European Session 3-2-2022

  

  It was Central Banks Day today and there are several drivers for the markets. The Bank of England announced its monetary policy decision on Thursday and raised the benchmark interest rate by 25bps to 0.50%. The Monetary Policy Committee (MPC) voted 5-4 in favor of a 25 bps rate hike. …

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• 3 February 2022 4:50 pm

  ECB Leaves Rates Unchanged

  

  The European Central Bank opted to leave its deposit rate unchanged at -0.5% on Thursday as unanimously expected. The bank maintained its guidance on interest rates, saying they would remain at present or lower levels until the conditions for a rate hike have been met. The bank also reaffirmed its …

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