Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 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 …

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• 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 …

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• 9 September 2022 2:01 am

  WTI edges higher on Russia’s threats

  

  Crude prices edged higher by about 1% on Thursday after abandoning a seven-month low in the prior session as some technical traders bought the dip and Russia threatened to halt oil and gas exports to some buyers.That price increase came despite a surprise size of US crude inventories, news that …

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• 9 September 2022 1:27 am

  Belgium Warns: EU Economy At Risk On Energy Crisis

  

  Belgian Prime Minister Alexander De Croo warned that Europe is in need to immediately act to address the energy crisis or risk the kind of fundamental economic shutdown that the bloc would struggle to recover from.“A few weeks like this and the European economy will just go into a full …

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• 9 September 2022 1:01 am

  Yellen to target citizens with high income to keep US economy stronger

  

  On Thursday, Treasury Secretary Janet Yellen pledged to pursue tax increases for high earning Americans to keep US finances robust, as she gave a speech in Michigan on the Biden administration’s economic policies.“To ensure our long-term economic stability, we must keep our public finances on sound footing,” Yellen said. Emerging …

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• 8 September 2022 11:54 pm

  Gold price pressured at $1707, but eying $1,730

  

  Gold prices are down on the day after heavily falling from a high of $1,728.23 to a low of $1,704.00. The precious metal is trading around $1,707.33 at the time of writing and lower by 0.5%. The US dollar index and shorter-dated US Treasury yields rose on Thursday following Fed …

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• 8 September 2022 10:46 pm

  Fed’s Evans prefers to rate hike pause

  

  Federal Reserve Bank of Chicago President Charles Evans said, on Thursday, that policymakers could deliver a third straight jumbo increase in interest ratesat the next FOMC meeting on September 20-21, but he is opened minded between a 50 or 75 basis point hike. The US dollar index and shorter-dated US …

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• 8 September 2022 9:55 pm

  Sterling snaps losses versus US dollar on Queen Elizabeth’s death

  

  Reuters reported that the British Pound has trimmed losses against the US dollar on Thursday after Queen Elizabeth, Britain’s longest-reigning monarch and the nation’s figurehead for seven decades, died.Sterling was last down 0.2% at $1.1511 . It hit as high as $1.1516 following the news.“The Queen died peacefully at Balmoral …

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• 8 September 2022 9:39 pm

  BoC’s Rogers comments on best way to soft landing

  

  Bank of Canada senior deputy governor Carolyn Rogers says bank has seen early signs monetary policy is working.Key Quotes”We’re not where we were in July, but we’re a long way from where we need to be.””The bank still sees a path to a stop to a soft landing, that’s still …

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• 8 September 2022 8:35 pm

  Wall Street on track for weekly gains

  

  US Stocks abandoned an early stumble and rose in morning trading on Wall Street Thursday, keeping the market on track to break a three week losing streak.The Dow Jones Industrial Average rose 133 points, or 0.4%, to 31,720 and the Nasdaq rose 0.6%.The S&P 500 rose 0.5% as of 10:58 …

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• 8 September 2022 8:06 pm

  EUR/USD’s other declines possible in the near term

  

  The European Central Bank raised key interest rates by 75 basis points on Thursday, in line with market expectations. The statement and Lagarde’s comments suggested more rate hikes ahead. The euro lost ground across the board after the meeting while the dollar rose boosted by Fed’s Powell remarks. Analysts believe …

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• 8 September 2022 7:45 pm

  USD/CAD hovers around 1.3110s after Powell’s speech

  

  The Canadian dollar was weakened following Fed Chair Jerome Powell’s speech that indicated Fed’s commitment to fight inflation. The market’s reaction has sent the US dollar higher, while the US 2-year yield, the most sensitive to interest rate increases, climbed.The USD/CAD pair is trimming some of Wednesday’s losses, climbing towards …

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• 8 September 2022 7:23 pm

  ECB could slow policy tightening in coming months

  

  The European Central Bank raised interest rates by 75 basis points on Thursday as expected. According to analysts, the ECB is to hike 50bps in October, and 25bps at each of the three meetings from December to March, reaching a terminal of 2.00% at that meeting.Today’s decision suggests that the …

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