Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 7 September 2022 3:47 am

  T-yields, Dollar Index dragging gold lower

  

  At the time of writing, the precious metal trades around $1703. Earlier on Tuesday, gold future traded at $1712.80 with net decline of $9.80 or – 0.56%. Concurrently the dollar index was up 71 points or 0.65% and fixed at 110.22. This could mean that there was fractional buying in …

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• 7 September 2022 3:27 am

  Could BoC hike interest rate policy above aggregate 3%?

  

  The Bank of Canada is widely expected to decide one more big interest hike on Wednesday in its endeavour to fight inflation which is currently near forty year high and closer to the 2% target.All 31 economists surveyed by Bloomberg expect policy makers led by Governor Tiff Macklem to raise …

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• 7 September 2022 3:12 am

  EUR/GBP extends the rebound from weekly low

  

  The EUR/GBP pair has maintained its defensive standing while keeping the previous day’s bounce off a one-week low around 0.8600 during Wednesday’s initial Asian session.The cross-currency pair dropped to the lowest levels since August 30 before taking a U-turn from the 50-SMA. The corrective pullback, however, lacks support from the …

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• 7 September 2022 1:21 am

  USD/JPY Rallies as yen falls apart

  

  The USD/JPY pair rallied on Tuesday and took out the symbolic level of 142, scoring a fresh 24-year low as the US dollar sprung into life again and while the gap between Japanese monetary policy and its counterparts widens. USD/July hit the highest levels since August 1998. Japan’s Finance Minister …

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• 7 September 2022 12:20 am

  Demand Fears Drag WTI Price Lower

  

  Oil prices fell on Tuesday as concern returned about the prospect of more interest rate hikes and COVID-19 lockdowns weakening fuel demand, reversing a two-day rally on OPEC+’s first output target cut since 2020.The US benchmark had been trading since Sunday without settlement due to the Labor Day holiday. WTI …

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• 6 September 2022 11:21 pm

  After Ethereum Merge, Is Bitcoin Repricing Looming?

  

  Most investors have shifted their focus of attention onto Ethereum because the long-awaited Ethereum Merge has become closer, one of the most interesting facts about 2022’s bear market is that Ethereum outperformed bitcoin across all timeframes. ETH has surged more in the past 24 hours (6% vs 1%), in the …

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• 6 September 2022 10:28 pm

  AUD/USD sharply falls despite RBA’s rate hike

  

  The AUD/USD pair falls from weekly highs at around 0.6830s due to increased odds of an aggressive Fed hike.On the US front, the ISM Non-Manufacturing activity for August surprisingly exceeded estimations, easing US recession worries whereas Australia’s GDP for the Q2, quarterly and yearly, is eyed on Wednesday’s Asian session.The …

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• 6 September 2022 9:19 pm

  Wall Street Dives In The Red Territory

  

  Wall Street’s main indexes closed lower on Tuesday, the first session after the US Labour Day holiday and summer vacations, as traders assessed fresh economic data in volatile trading. A lot of uncertainty and volatility is not coming from the US; it’s actually coming from overseas.The tech-heavy Nasdaq (.IXIC) suffered …

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• 6 September 2022 8:32 pm

  UK new prime minister will cut taxes

  

  In a speech delivered on Tuesday, incoming British Prime Minister Liz Truss said that she will cut taxes to reward hard work, as reported by Reuters.As for the market’s reaction, the GBP/USD pair showed no immediate reaction to these remarks and was last seen rising 0.25% on the day at …

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• 6 September 2022 7:42 pm

  Dow Jones rises in volatile session as data digested

  

  US shares maintain mixed performance on Tuesday in a volatile trading environment at the US session.The Dow Jones Industrial Average gained 93 points, or 0.30%, climbing off lows of the day boosted by defensive shares such as Johnson & Johnson and Coca-Cola. The S&P 500 rose 0.29% and the Nasdaq …

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• 6 September 2022 7:00 pm

  European markets surge as economic challenges assessed

  

  The European markets cautiously surged on Tuesday as investors continued to assess recession risks in the continent. The pan-European Stoxx 600 added 0.5% by mid-afternoon, with retail stocks climbing 2.8% to lead gains as most sectors nudged into positive territory.Oil and gas stocks were the most obvious as they were …

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• 6 September 2022 6:19 pm

  ISM Services PMI Reading Surges In August

  

  Economic activity in the services sector surged in August for the twenty seventh month in a row, with the Services PMI registering 56.9 percent according to the US purchasing and supply executives in the latest “Services ISM Report On Business”.The report was issued on Tuesday by Anthony Nieves, Chair of …

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• 6 September 2022 6:06 pm

  The yen continues to decline against USD and Pound clings to its early gains

  

  The Japanese yen, sensitive to interest rate moves, continued to decline on Tuesday, breaking the 142 barrier against the dollar, while the pound and the euro tried to recover from multi-year lows against the dollar the day before, but the euro failed to do so. The dollar rose 1.07 percent …

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