Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 5 September 2022 11:00 pm

  Moscow won’t resume gas supplies to EU until sanctions lifted

  

  On Monday, the Kremlin blamed western sanctions for failure to deliver gas through Nord Stream 1 pipeline. Russia’s Gazprom announced last weekend that the suspension of gas supplies at Nord Stream 1 would be extended indefinitely, citing ‘malfunctions’ along the pipeline. Russia will not resume its natural gas supplies to …

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• 5 September 2022 10:10 pm

  Bank of Canada to deliver a 75 bps hike on Wednesday

  

  The Bank of Canada is expected to issue its latest monetary policy decision on Wednesday. A rate hike of 75 basis points is widely expected. Analysts believe that central bank will slow down the pace of its rate hikes after this September’s meeting, only taking the policy rate to 3.75% …

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• 5 September 2022 9:18 pm

  Boosted by commodities, FTSE 100 ends higher

  

  The British FTSE 100 index ended slightly higher on Monday as commodity stocks achieved notable gains. Investors looked ahead to the appointment of Liz Truss as Britain’s new prime minister against a deteriorating economic background.The commodity-heavy FTSE 100 ended 0.1% higher, after falling as much as 1.2% earlier in the …

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• 5 September 2022 8:17 pm

  BoE’s Mann comments on gradual rate hikes

  

  Bank of England BoE policymaker Catherine Mann said on Monday that the of increase rate gradual pace has not sufficiently tempered expectations.BoE Chief Economist Huw Pill also argued that a fast and forceful tightening potentially by a hold or reversal was superior to a gradualist approach.Mann noted that “Long-term expectation …

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• 5 September 2022 7:25 pm

  Macron: France supports common gas purchase at EU level

  

  French President Emmanuel Macron announced EU member states could satisfy gas storage targets, having 92-93% of the storage capacity already filled.Macron’s statements came after his phone talks with German Chancellor Olaf Scholz. Markets paid little attention to these comments and EUR/USD was last losing 0.3% on the day at 0.9920.Additional …

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• 5 September 2022 6:04 pm

  Market Drivers – European Session 5/8/2022

  

  A European Commission spokesman said on Monday that Russia could pump more gas to Europe via other routes after the Nord Stream 1 pipeline was shut down, but Moscow chose not to. “If there is a technical problem that hinders supplies via Nord Stream 1, it is possible, if there …

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• 5 September 2022 5:09 pm

  OPEC + agrees to cut oil production by 100,000 barrels per day in October

  

  In its most recent ministerial meeting, the OPEC group decided to reduce oil production by 100,000 barrels per day, compared to the increase approved during the last meeting. The OPEC + ministerial meeting confirmed the negative impact of volatility and low liquidity on the current oil market, and the need …

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• 5 September 2022 4:13 pm

  Iran Announces Readiness to Supply Part of Europe’s Energy Needs in Cold Winter

  

  Iranian Foreign Ministry Spokesman Nasser Kanaani said on Monday that Iran is asking the International Atomic Energy Agency to stop its investigations into Iran’s nuclear activity, noting that this was one of Iran’s conditions for reviving the joint nuclear agreement. The spokesman said in a press statement that Iran is …

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• 5 September 2022 2:48 pm

  Eurozone Sentix Investor Confidence deteriorates to -31.8 in Sept

  

  The Eurozone Sentix Investor Confidence index came in at -31.8 in September from -25.2 in August vs. -27.5 expected. The index snapped its recovery amid mounting recession fears. The current situation in the eurozone dropped to -31.8 points in September from -25.2 in August. An expectations index tumbled to -37.0, …

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• 5 September 2022 2:23 pm

  Eurozone Retail Sales drop 0.9% YoY in July

  

  Eurozone’s Retail Sales rose by 0.3% MoM in July versus 0.4% expected and -1.0% last, the official figures released by Eurostat showed on Monday. On an annualized basis, the bloc’s Retail Sales came in at -0.9% in July versus -3.2% recorded in June and -0.7% estimated.

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• 5 September 2022 1:16 pm

  European shares slide as Nord Stream shutdown extends

  

  European shares fell on Monday after Russia extended a halt to gas flows through the Nord Stream 1 pipeline to Europe, raising concerns about energy prices and growth and prompting governments to announce emergency measures. The pan-European Stoxx 600 index was down 1.6 percent by 0713 GMT, while the German …

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• 5 September 2022 12:09 pm

  Inflation in Turkey touches its highest level in 24 years at 80.2%

  

  Data on Monday showed Turkey’s annual inflation rate rose to a 24-year high of 80.21 percent in August, after the central bank decided to cut interest rates unexpectedly last month, but the data remained below expectations. The Turkish Statistical Institute said consumer prices rose every month by 1.46 percent, compared …

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• 5 September 2022 11:20 am

  Gold price stability and Fed hike looming

  

  Gold prices stabilized on Monday, after jumping as much as 1.2 percent in the previous session, as cautious investors focused on the path of the Federal Reserve (US Central Bank) raising interest rates after swinging job data. There was no change in the price of gold in spot transactions at …

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