Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 8 September 2022 5:40 pm

  US: Weekly Initial Jobless Claims decline to 222K

  

  here were 222,000 initial jobless claims in the week ending September 3, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 228,000 (revised from 232,000) and came in better than the market expectation of 240,000. Further details …

  Read More »
• 8 September 2022 4:48 pm

  Key takeaways from ECB policy statement

  

  Key takeaways from policy statement “This major step frontloads transition from prevailing highly accommodative level of policy rates towards levels that will ensure timely return of inflation to ECB’s 2% medium-term target.” “Based on current assessment, over next several meetings, ECB expects to raise interest rates further to dampen demand …

  Read More »
• 8 September 2022 4:20 pm

  ECB hikes key rates by 75 basis points as expected

  

  The European Central Bank (ECB) announced on Thursday that it raised its key rates by 75 basis points (bps) following the September policy meeting. With this decision, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be …

  Read More »
• 8 September 2022 3:41 pm

  Oil prices fall as pandemic restrictions extend in China

  

  Oil prices fell on Thursday, after recording sharp losses in the previous session, as the extension of China’s closure measures to curb the spread of the Coronavirus exacerbated fears of a slowdown in global economic activity, which is hurting demand. Brent crude futures lost 40 cents, or 0.4 percent, to …

  Read More »