Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 26 August 2022 7:10 pm

  Gold Price Abandons $1750 On Powell’s Speech

  

  Volatility has soared after key US inflation data and following Jerome Powell’s Jackson Hole speech. Fed Chair keeps hawkish tone and stance, reiterating that high interest rates will persist for some time in the battle against hot inflation.At the time of writing, gold even trades between $1739.90 and $1741.10. Gold …

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• 26 August 2022 6:46 pm

  US Equities Fall On Powell’s Hawkish Remarks

  

  Stocks fell after Federal Reserve Chair Jerome Powell said Fed will continue to raise rates to fight inflation in his Jackson Hole speech while The Fed’s favourite inflation measure shows prices have eased in July. The Dow Jones Industrial Average dropped 302 points, or 0.91%. The S&P 500 fell 1.11% …

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• 26 August 2022 5:02 pm

  US annual PCE inflation declines to 6.3% in July

  

  As measured by the Personal Consumption Expenditures (PCE) Price Index, Inflation in the US declined to 6.3% in July from 6.8% in June, the US Bureau of Economic Analysis reported on Friday. This reading came in much lower than the market expectation of 7.4%. The Core PCE Price Index, which …

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• 26 August 2022 3:55 pm

  Thousands of British postal workers start strike over wages

  

  Royal Mail has said it is relying on a skeleton staff to deliver only “essential items” after 115,000 postal workers went on strike in year’s biggest industrial action so far. The 500-year-old postal service’s employees are striking on Friday, Wednesday next week and 8 and 9 September in a dispute …

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• 26 August 2022 2:13 pm

  The dollar stabilized near its highest level in two decades before Fed Chairman’s speech

  

  The dollar held near two-decade highs against other major currencies on Friday ahead of a widely anticipated speech by Federal Reserve Chairman Jerome Powell at a Jackson Hole symposium. Traders are awaiting indications about the Fed’s monetary tightening plans to curb inflation when Powell speaks at 1400 GMT. The dollar …

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• 26 August 2022 1:46 pm

  European shares rise, supported by technology and mining companies

  

  European shares rose on Friday as Wall Street’s rally, supported by technology companies overnight, lifted its European peers, but the sentiment was affected by concerns about the pace of interest rate hikes and rising energy costs. The pan-European Stoxx 600 index rose 0.4%, and is heading to end the week …

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• 26 August 2022 1:08 pm

  Gold stabilizes as investors await the Federal Reserve’s speech

  

  Gold prices stabilized on Friday despite the precious metal’s trend for a weekly gain, with investors focused largely on the Jackson Hole seminar for clues about the US Federal Reserve’s policy to curb inflation. Spot gold consolidated at $1,757.99 an ounce at 0624 GMT, but rose 0.6 percent so far …

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• 26 August 2022 12:35 pm

  The Nikkei index closed slightly higher before the Federal Reserve Chairman’s speech

  

  Japanese shares closed slightly higher on Friday, after giving up some of their early gains, as investors awaited a speech by Federal Reserve Chairman Jerome Powell to look for any clues on the pace of US monetary tightening. The Nikkei index closed up by 0.57 percent at 28,641.38 points, after …

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• 26 August 2022 4:45 am

  Market Drivers – US Session – Thursday, August 25

  

  The US dollar ended Thursday mixed although there were no significant changes among major pairs. Investors are mildly optimistic as macroeconomic data was positive upbeat but cautious ahead of central banks’ governors, set to speak within the Jackson Hole Economic Symposium.The EUR/USD pair briefly traded above parity but could not …

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• 26 August 2022 4:36 am

  Powell’s Jackson Hole Speech, What Can Be Expected

  

  Noticeably, traders, investors and economists have spent much of this week anticipating Jackson Hole Symposium which has now officially begun. Of course, markets are all waiting for the remarks by Fed Jay Powell which come at 10 o’clock tomorrow morning, Eastern Time. Markets have got some economic data that come …

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• 26 August 2022 4:08 am

  USD/CHF higher ahead of key data, Powell’s speech

  

  The USD/CHF pair picks up bids to refresh intraday high, adds to the second consecutive weekly gain. Cautious optimism drove US dollar downwards ahead of the latest rebound amid pre-data as well as Jackson Hole event anxiety.A 10-week-old descending trend line and the 100-DMA, respectively near 0.9650 and 0.9665, restrict …

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• 26 August 2022 3:05 am

  RBNZ Orr: At least two rate hikes to come

  

  Adrian Orr, the governor of the Reserve Bank of New Zealand has stated that he thinks there will be at least another couple of rate hikes. This is being reported by Bloomberg TV covering Jackson Hole. Federal Reserve chair Jerome Powell’s speech is going to be key, but the bears …

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• 26 August 2022 1:39 am

  Revised US Q2 data weaken recession theory

  

  The second estimate of Q2 GDP showed the US economy contracted at a slower-than-expected rate of 0.6%. Upward revisions to underlying demand and a first read from the income side weakens the argument that the economy is currently in recession. The US economy contracted at a 0.6% annualized rate in …

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