Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 31 August 2022 1:22 pm

  Gold falls for the fifth month as investors await rate hike

  

  Gold prices fell on Wednesday for the fifth consecutive month as strong US economic data and comments from the Federal Reserve about monetary tightening indicated further interest rate hikes, reducing the attractiveness of the non-yielding yellow metal. Spot gold prices fell 0.1 percent to $1,721.59 an ounce by 0735 GMT, …

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• 31 August 2022 12:45 pm

  European stocks rebounded before the release of inflation data

  

  European shares rose on Wednesday, boosted by the strong performance of technology shares after a three-day sell-off, with inflation data in the region due for release during the session. The pan-European Stoxx 600 index rose 0.4% by 0716 GMT after three consecutive days of losses, but the index is heading …

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• 31 August 2022 12:03 pm

  Japan stocks fall following Wall Street

  

  Japanese stocks gained for the second consecutive month on Wednesday, even as the two major indexes closed lower on Wednesday, weighed down by losses from technology and energy blue-chip companies and Wall Street’s decline. The Nikkei index fell 0.37 percent to 28,091.53 points, while the broader Topix index fell 0.27 …

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• 31 August 2022 3:42 am

  Market Drivers – US Session – Tuesday, August

  

  The negative market sentiment slightly began to ease early on Tuesday, although investors are generally pessimistic.The US dollar gave up some gains during the first half of the US session, particularly against high-yielding rivals, but managed to rebound during the second half of the session. The American currency performed higher …

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• 31 August 2022 3:19 am

  T-yields touch fresh highs amid inflation concerns

  

  US Treasury yields surged on Tuesday, reversing rally after a better than expected rise in JOLTS data. The latest reading fueled investors’ concerns about the Fed’s hawkish stance and prospects of tightening the US monetary policy.Earlier on Tuesday, Some US government bond yields lightly retreated after inflation data from Europe …

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• 31 August 2022 2:59 am

  Gold maintains downtrend ahead of US employment data

  

  Gold price is wavering within the $1,723.03-1,727.20 zone as investors’ attention shifts to the awaited US Employment Change data.The positive US JOLTS Job Openings data granted the US Dollar Index further strength. The said data landed at 11.239M, higher than the expected 10.475M, surpassing prior reading of 11.04M. Gold price …

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• 31 August 2022 1:08 am

  Could Softer Data Save Cryptos, Stocks From Red Territory?

  

  Some key economic data are expected this week including the ISM manufacturing PMI Index, as well as nonfarm payrolls, respectively: an indicator of US economic activity and tracking measure of the total number of paid workers in the US.This week’s soft economic data could grant the crypto and stock markets …

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• 31 August 2022 12:45 am

  US shares close lower post-JOLTS data

  

  US shares have closed with losses for the third consecutive session, partially impacted by surging job openings. Each of the 11 S&P 500 sectors were in the red territory.Tuesday’s JOLTS data add more concerns around the hawkish stance adopted by the US central bank, just giving policymakers enough reasons to …

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• 30 August 2022 11:14 pm

  What could JOLTS report tell about Fed’s direction?

  

  Job openings have topped 11.2 million in July. That total also was nearly double the total pool of available workers, which stood at 5.67 million for the month. Available positions totaled 11.24 million for the month, in excess of the 10.3 million estimates, according to the Job Openings and Labour …

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• 30 August 2022 10:38 pm

  GBP/USD pressured into fresh daily lows

  

  From an hourly perspective, GBP/USD is decelerating into a 38.2% Fibonacci retracement level, so, the GBP/USD pair is down by some 0.45% on the day so far while risk assets see some recovery following the bumpy ride into Jackson Hole speeches.The sterling climbed to 1.1760 from 1.1621 on Tuesday in …

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• 30 August 2022 10:28 pm

  Why Does Consumer Confidence Data Recover?

  

  Tuesday’s report by Conference Board has showed a recovery in consumer confidence in August according to preliminary data. Several analysts have pointed out the rebound in confidence to its highest level since May 2022 took pace as fuel prices fell throughout the month and stock prices rose during the first …

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• 30 August 2022 9:43 pm

  EUR/USD bounces above parity on hawkish ECB

  

  Despite the US dollar’s strength, on Tuesday, the EUR/USD pair advances underpinned by ECB’s Governing Council members expressing the need for a 75 bps rate hike in September. US Consumer Confidence surprisingly surged, while job vacancies topped expectations.The ECB speakers were led by ECB Knot, who said he’s leaning towards …

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• 30 August 2022 9:10 pm

  Best Buy’s earnings beat despite retreating sales

  

  Best Buy earnings report is out, on Tuesday, with better than expected profits, but the quality of the earnings report is in focus. The electronics retailer saw US same-store sales tanked 12.7%, missing analyst estimates. Sales retreated in all product categories. And Q3 guidance hints had a slow start to …

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