Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 25 August 2022 9:09 pm

  GBP/USD fluctuates post-mixed US data

  

  The GBP/USD fluctuates during the day as traders wait for Fed’s Powell to take the stand on the sidelines. US growth in the second quarter improved but remains below the 0% threshold; a US recession looms.Money market futures expect the BoE to hike rates 250 bps by May of 2023. …

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• 25 August 2022 8:50 pm

  Wall Street climbs as Fed’s signals at Jackson Hole awaited

  

  The S&P 500 and the Nasdaq surged on Thursday on support from growth and semiconductor stocks, while investors eyed the Federal Reserve’s Jackson Hole conference for clues on its policy outlook. Fed Chair Jerome Powell is due to give a speech on Friday that will be scrutinized for any indication …

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• 25 August 2022 8:13 pm

  Fed’s Harker supports rate above 3.4% and then ‘sit for a while’

  

  The Federal Reserve should continue raising it benchmark interest rate until it is over 3.4% and then “sit for a while,” said Philadelphia Fed President Patrick Harker on Thursday.“We don’t need to rush way up and then rush way down,” Harker said, in CNBC interview from the Fed’s retreat in …

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• 25 August 2022 7:27 pm

  USD/CAD slides on softer US dollar ahead of Powell’s speech

  

  The USD/CAD pair dropped 0.15% on Thursday as market players prepare for further hawkish rhetoric by the Fed. The USD/CAD slides towards new weekly lows in the North American session amidst a positive market mood, spurred by China’s 1 trillion CNY stimulus, aimed to fix the housing and construction crisis. …

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• 25 August 2022 4:53 pm

  Real GDP contracts by 0.6% in Q2

  

  The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis’ (BEA) second estimate showed on Thursday. This reading came in higher than the flash estimate of -0.9% and surpassed the market expectation of -0.8%.

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• 25 August 2022 4:45 pm

  Weekly Initial Jobless Claims decline to 243K

  

  There were 243,000 initial jobless claims in the week ending August 20, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 245,000 (revised from 252,000) and came in better than the market expectation of 253,000. Further details …

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• 25 August 2022 2:47 pm

  European shares rise, supported by the energy sector

  

  European shares rose on Thursday after gross domestic product data from Germany, the continent’s largest economy, beat analysts’ expectations. At the same time, concerns ahead of the minutes of the European Central Bank’s latest meeting limited gains. The pan-European Stoxx 600 index was up 0.6 percent by 0712 GMT. Energy …

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• 25 August 2022 2:46 pm

  Gold rises as the dollar slips amid anticipation of signs on inflation and rates

  

  Gold prices rose for a third consecutive session on Thursday, supported by the dollar’s decline as investors looked to the Jackson Hole Economic Symposium for clues on inflation and the interest rate path from the US Federal Reserve. Spot gold rose 0.8 percent to $1,764.39 an ounce by 0927 GMT. …

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• 25 August 2022 1:35 pm

  The dollar is falling from its highest level in two decades

  

  The US dollar retreated from its highest level in two decades against a basket of major currencies on Thursday, as investors awaited the speech of Federal Reserve Chairman (US Central Bank) Jerome Powell in anticipation of recent indications regarding the course of monetary policy. The Australian dollar has outperformed its …

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• 25 August 2022 12:30 pm

  UK car production rises for the third consecutive month

  

  UK car production rose for the third consecutive month in July, up 8.6% to 58,043 units, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). The performance must be set in a context, however, as it is compared with July 2021, which was …

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• 25 August 2022 11:46 am

  Oil rises, supported by a possible OPEC + supply cut

  

  Oil prices rose on Thursday on mounting concerns over supply shortages amid disruptions to Russian exports, possible production cuts by major oil producers and the partial shutdown of a refinery in the United States. By 0630 GMT, Brent crude rose 45 cents, or 0.4 percent, to $101.67 a barrel, while …

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• 25 August 2022 11:00 am

  Japan’s Nikkei halts 5 sessions of decline

  

  Japan’s Nikkei index halted a five-session decline on Thursday, boosted by gains in drug and technology makers, as investors awaited the Federal Reserve’s Jackson Hole conference for any clues on the pace of interest rate hikes. The Nikkei index rose 0.58 percent to 28,479.01 points, and the broader Topix index …

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• 25 August 2022 4:34 am

  Market Drivers – US Session – Wednesday, August 24

  

  Investors have an eye on digesting the latest US economic data and another eye on the signals that could be contained in Fed Chair Jerome Powell’s speech before Jackson Hole Symposium on Friday. Fed’s annual event will host global economists and policymakers to discuss a variety of topics. Market players …

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