Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 9 September 2022 8:41 pm

  Wells Fargo: Dollar to remain strong through the end of 2022

  

  Wells Fargo’s Analysts believe that the strength of the US dollar will continue through the end of 2022. They point out that despite a more aggressive pace of tightening from foreign central banks, they doubt international policymakers will be able to keep pace with the tightening cycle laid out by …

  Read More »
• 9 September 2022 8:13 pm

  Fed’s George favours steady rate hikes than fast ones

  

  Kansas City Fed President Esther George said on Friday that “A steady path of rate hikes, predictable adjustments based on data could improve market functioning, facilitate balance sheet runoff”.The US Dollar Index showed no immediate reaction to these comments and was last seen losing 0.6% on the day at 109.00.Additional …

  Read More »
• 9 September 2022 8:05 pm

  AUD/USD retreats from one-week highs

  

  The Australian dollar is one of the top performers on Friday. The AUD/USD pair has retreated from near 0.6880 and found support at 0.6820.The AUD/USD peaked during the European session at 0.6877, the highest level since August 31 and then pulled back amid a stabilization of the greenback. The retreat …

  Read More »
• 9 September 2022 7:17 pm

  Gold’s sharp reversal indicates difficult recovery

  

  As the US dollar trims losses on Friday amid risk appetite and a rebound in US yields, the Gold Index is hovering around $1710.Gold turned to the downside again after approaching the $1730 area and pulled back sharply toward $1710, erasing daily gains on Friday. The stabilized dollar and rebounding …

  Read More »
• 9 September 2022 5:49 pm

  Dollar is heading for a weekly decline, euro is rising

  

  On Friday, the dollar is set to record its first weekly decline in four weeks, while a sharp interest rate hike by the European Central Bank led to gains for the euro, while investors await US inflation data due to be published next week. The dollar index, which measures the …

  Read More »
• 9 September 2022 4:59 pm

  Canada: Unemployment Rate jumps to 5.4% in August

  

  Statistics Canada reported on Friday that the Unemployment Rate in Canada rose to 5.4% in August from 4.9% in July. This reading came in worse than the market expectation of 5%. Further details of the publication revealed that the Net Change in Employment was -39.7K, compared to the market expectation …

  Read More »
• 9 September 2022 3:36 pm

  A look at the British economy after the death of Queen Elizabeth II

  

  The death of Queen Elizabeth II marks the beginning of a new era for the United Kingdom but one that will be fraught with economic uncertainty and mixed patriotic sentiments. Queen Elizabeth died on Thursday, September 8th, at 96, the longest-reigning monarch of the United Kingdom. Thousands of Britons gathered …

  Read More »
• 9 September 2022 2:36 pm

  Gold is gaining lustre and hitting its highest level in more than a week

  

  Gold prices rose more than 1 percent on Friday to its highest level in more than a week as a weak dollar boosted demand for the yellow metal, even as Federal Reserve policymakers pledged to raise interest rates to tame inflation pressures. And gold rose in spot transactions 1.1 percent …

  Read More »
• 9 September 2022 2:24 pm

  Bitcoin jumps over $20,000

  

  Cryptocurrency Bitcoin crossed the $20,000 mark and is looking to post its best day in six weeks on Friday, as the dollar fell and markets found reasons for optimism at the end of a tough week. Bitcoin, the largest cryptocurrency by market capitalization, rose more than seven percent to $20,796, …

  Read More »
• 9 September 2022 1:12 pm

  Oil rises on supply support, but is heading for a weekly decline

  

  Oil prices rose on Friday, boosted by investor interest in Russia’s threat to halt oil and gas exports to some buyers, but crude is set for a second weekly decline as demand is affected by large interest rate increases by central banks and the impact of coronavirus-related restrictions in China. …

  Read More »
• 9 September 2022 12:32 pm

  Nikkei ends week higher in monetary tightening environment

  

  Japanese stocks rose on Friday, extending gains from the previous day, even as investors digested the hawkish rhetoric of policymakers that strongly supported expectations of big interest rate hikes to curb inflation. The Nikkei index closed up 0.53 percent to 28,214.75 points. The benchmark index started trading up 0.5 percent …

  Read More »
• 9 September 2022 4:08 am

  Market Drivers – US Session 08/09/2022

  

  The US dollar finished the trading session with mixed performance versus rival currencies. After a seemingly volatile day, the EUR/USD pair is little changed, just below parity after the ECB’s 75 bps rate hike that came in line with expectations.The Canadian dollar surged against the US dollar, with the pair …

  Read More »
• 9 September 2022 3:39 am

  Washington to screen investment in China’s tech sector

  

  The Biden administration is pondering an executive order to screen and restrict US overseas investment in technology development in China and other potentially hostile countries.The Chinese embassy in Washington said Beijing opposes the order, adding the measure would limit normal investment in China, disrupt international trade and distort global semiconductor …

  Read More »