Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 31 May 2022 10:22 pm

  OPEC members ponder output increase, exempting Russia

  

  The OPEC+ group of producers continues to underproduce, which had taken the sting out of the highly anticipated 430k bpd output hike this month.While there are no formal plans to push OPEC to increase oil output, some members have plans for so doing particularly given that Russian output is likely …

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• 31 May 2022 9:38 pm

  EUR/USD falls from weekly highs on stronger US dollar

  

  The EUR/USD reached new weekly lows below 1.0700 despite the EU inflation breaking above the 8% threshold. The euro retreats during the American session but bounced off daily’s lows in a high volatility trading session that witnessed the EUR/USD rallying near 1.0780 and falling to 1.0678, but is stabilizing. At …

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• 31 May 2022 9:04 pm

  US mortgage rates can’s slow home prices

  

  Higher mortgage rates did a little to stop home price momentum in March. US home values leaped by 20.6% in March from the year before, according to the S&P CoreLogic Case-Shiller national home price index, up from a 20% increase in February and marking the largest year-over-gain in the index’s …

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• 31 May 2022 8:21 pm

  Eurozone inflation highest since 1999

  

  The economic consequences of Russia-Ukraine conflict include price surge in Germany hitting a record and inflation in Estonia topping 20 percent. In Spain, the annual inflation has reached 8.5 percent.In Germany, starting June, for example, the government will offer reductions for the price of gas at the pump and a …

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• 31 May 2022 7:49 pm

  Gold slides on stronger USD, higher T-yields

  

  The Gold Index has suspended two successive days of gains and retreats towards the 20-DMA after bouncing off the 200-DMA amidst a sour market sentiment during the current trading session as US traders come back from a three-day weekend with positive attitude towards the US dollar and US Treasury yields. …

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• 31 May 2022 7:17 pm

  BoC’s Hawkish Hike Anticipated By Six Major Banks

  

  The Bank of Canada will announce its interest rate decision on Wednesday, June 1 and as financial markets get closer to the release time, expectations were published as forecast by the economists and researchers of six major banks, regarding the upcoming policy decision announcement. The Bank of Canada is expected …

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• 31 May 2022 5:57 pm

  Gold is about to post a monthly loss

  

  Gold prices fell on Tuesday after rising dollar and US bond yields offset support for the precious metal on rising inflation fears and appeared to be on track for a second consecutive monthly decline. Spot gold fell 0.4 percent to $1,848.60 an ounce at 1025 GMT, and was down 2.5 …

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• 31 May 2022 5:26 pm

  Canada: Real GDP expands by 0.7% MoM in March

  

  Canadian real GDP expanded at a pace of 0.7% MoM in March, according to the latest data release by Statistics Canada on Tuesday. That was above the median economist forecast for a 0.5% MoM pace of expansion but down from February’s 0.9% MoM growth rate.

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• 31 May 2022 4:23 pm

  The euro continues its losses after inflation data

  

  The euro extended losses on Tuesday after data showed that inflation in the eurozone hit a record high in May, but expectations that the European Central Bank will raise interest rates soon kept the single European currency on track for its best monthly performance in a year. Inflation in the …

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• 31 May 2022 3:03 pm

  EU leaders agree to ban most Russian oil imports

  

  European Union leaders agreed in principle on Monday to cut oil imports from Russia by 90 percent by the end of this year, ending a standoff with Hungary over the bloc’s toughest sanctions yet on Moscow since the invasion of Ukraine three months ago. Diplomats said the agreement would pave …

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• 31 May 2022 1:57 pm

  Eurozone Preliminary Inflation surges 8.1% YoY in May

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) soared by 8.1% in May vs. the previous reading of 7.4%, the latest data published by Eurostat showed on Tuesday. The consensus forecast was for a reading of 7.7%. The core figures arrived at 3.8% YoY in May when compared to …

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• 31 May 2022 12:35 pm

  German stocks lead European shares decline

  

  German stocks led European stock markets lower on Tuesday after a bigger-than-expected rise in inflation in Germany, the region’s largest economy, raised fears of tightening measures from central banks. Investors are now awaiting annual inflation data in the eurozone for the month of May, which is expected to be released …

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• 31 May 2022 2:21 am

  EU diplomat: Bloc agrees to ban 90% of Russian oil imports by end of 2022

  

  EU leaders are meeting for an off-schedule summit with some progress regarding Russian sanctions. The EU Council President Charles Michel said the officials have agreed to ban the export of Russian oil to the EU. According to Michel, the EU ”agrees to de-swifting the largest Russian bank Sberbank, banning 3 …

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