Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2022

• 28 January 2022 11:06 pm

  EUR/USD Clings to 1.1150s but downside risks remain

  

  The EUR/USD pair is under heavy downward pressure, as the pair eyes May 2020 swing lows. The EUR/USD’s bulls failure to defend 1.1100, it would open the door towards 1.0775.After holding above 1.1200 for too many days before USD bulls launched an attack to 2021 yearly low, however, the shared …

  Read More »
• 28 January 2022 10:06 pm

  US Personal Income Rises Less Than Expected, Personal Spending Retreats

  

  A report released by the Commerce Department on Friday showed personal income in the US increased by less than expected in the month of December.The Commerce Department said personal income rose by 0.3 percent in December after climbing by an upwardly revised 0.5 percent in November.Economists had expected personal income …

  Read More »
• 28 January 2022 9:44 pm

  FOMC likely to hike rates by 125 bps over the course of 2022

  

  Market observers believe the FOMC will announce the commencement of balance sheet reduction at the July 27 meeting. They look for the Federal Reserve to hike the Fed Funds rate by 125 bps in 2022.It is likely that the Committee will hike rates by 25 bps at the March 16, …

  Read More »
• 28 January 2022 9:34 pm

  Will Canada’s Labour Data Weaken Substantially

  

  The Bank of Canada kept the interest rate unchanged this week but signaled imminent tightening at the next meeting in March. Next week, the key economic event will be the jobs report on Friday. Analysts at RBC Capital Markets see a drop of 70000 in employment in January. Key Quotes: …

  Read More »
• 28 January 2022 8:58 pm

  US: Labor costs slow, but still rising at a scorching rate

  

  Data released on Friday showed the Employment Cost Index (ECI) rose 1% during the fourth quarter, and 4% during the year. Analysts at Wells Fargo point out the quarterly increase was more restrained than Q3’s 1.3% gain, and they consider that may tamp down fears of a wage-price spiral amid …

  Read More »
• 28 January 2022 8:22 pm

  Gold Price Has More Room On Downside Ahead Of NFP

  

  Gold climbed to its highest level since November at $1,853 on Wednesday but ended up losing more than 3% from that level to end the week deep in the negative territory below $1,800. Nonfarm Payrolls are forecast to rise by 238000 in January. The low bar suggests that there is …

  Read More »
• 28 January 2022 8:01 pm

  UoM Consumer Sentiment Index Falls Below Expectations In December

  

  The University of Michigan Consumer Sentiment fell to 67.2 from the flash estimate of 68.7, its lowest reading since 2011. The University of Michigan’s (UoM) final estimate of the Consumer Sentiment Index came in at 67.2 in December, below the flash estimate of 68.7 released earlier in the month, and …

  Read More »
• 28 January 2022 7:24 pm

  Fed’s Kashkari Expects Fed To Raise Rates at March Meeting

  

  Federal Reserve Bank of Minneapolis President Neel Kashkari said on Friday that he expects the Fed to raise rates at the March meeting.With inflation higher and lasting longer than expected, the Federal Reserve needs to take its foot off the monetary gas pedal “a little bit” to address imbalances between …

  Read More »
• 28 January 2022 5:03 pm

  Oil is on Track For a Sixth Week of Gains Amid Supply Concerns

  

  Oil prices rose on Friday, set for a sixth straight week of gains as geopolitical tensions continued to fuel supply concerns. Brent crude futures rose 63 cents, or 0.7 percent, to $89.97 a barrel by 1013 GMT, after reaching $91.04 on Thursday, the highest level since October 2014. West Texas …

  Read More »
• 28 January 2022 4:11 pm

  European Shares Slip on Interest Rate Hike Expectations

  

  European shares fell on Friday amid risk aversion on interest rate hike expectations and geopolitical tension in Ukraine, but some strong business results capped losses. The pan-European Stoxx 600 index fell 0.8 percent, heading for its fourth consecutive weekly decline. Auto and chemical stocks were the top losers. But luxury …

  Read More »
• 28 January 2022 2:41 pm

  The Dollar is Heading For The Largest Weekly Gain in 7 Months

  

  The dollar consolidated its gains on Friday and is heading for the largest weekly increase in seven months, as the greenback’s gains against other major currencies are supported by expectations of an interest rate hike. With financial markets factoring in an expected 30 basis point interest rate hike in March …

  Read More »
• 28 January 2022 2:03 pm

  German Preliminary GDP Contracts by 0.7% in Q4 vs. -0.3% Expected

  

  The German economy shrunk by 0.7% inter-quarter in the fourth quarter of 2021 when compared to the expectations of -0.3% and 1.7% booked in Q3, the preliminary report published by Destatis showed on Friday. Meanwhile, the annualized GDP rate dropped to 1.4% in Q4 against the previous reading of 2.5% …

  Read More »
• 28 January 2022 1:13 pm

  Apple’s Sales And Profits Exceed Expectations as The Chip Shortage Eases

  

  Apple reported record sales in the fourth quarter of 2021, the holiday season, with profits that beat expectations while overcoming an expensive global shortage of computer chips. Analysts said the iPhone maker, the world’s largest by market value, has handled supply chain challenges such as factory closures and shipping delays …

  Read More »