Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 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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• 30 August 2022 8:39 pm

  ECB’s Stournaras expects inflation to gradually decline in 2023

  

  European Central Bank (ECB) Governing Council member Yannis Stournaras said on Tuesday that he expects inflation to peak this year before starting gradually decline in 2023, as reported by Reuters.Commenting on the economic outlook, Stournaras acknowledged that risks to growth are tilted to the downside. As for the market’s reaction, …

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• 30 August 2022 7:50 pm

  USD/JPY hits six weeks highs despite risk aversion

  

  On Tuesday, the USD/JPY pair approaches again the 140.00 zone. The USD/JPY is gaining momentum during the US trading session and climbed to 139.08, reaching the highest level since mid-July. The pair remains bullish amid a stronger US Dollar across the board.US dollar gains momentum despite another decline in Wall …

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• 30 August 2022 7:02 pm

  US equities drop on interest rate worries

  

  Stocks fell for a third day on Tuesday, jeopardizing a summer comeback rally, as the Federal Reserve and other global central bankers continued to send hawkish signals to fight inflation despite the negative consequences for economic growth or the impact on corporate earnings. The S&P 500 fell 1.1% to 3,986.16, …

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• 30 August 2022 5:41 pm

  Elon Musk cites whistleblower claims in latest effort to scrap Twitter deal

  

  Elon Musk’s legal team has given another notice to terminate its $44 billion deal to buy Twitter, citing additional reasons. The latest notice comes after Twitter’s former security chief alleged deficiencies in its security, privacy and content moderation systems earlier this month. On July 8, Musk’s legal team initially filed …

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• 30 August 2022 4:23 pm

  Germany: Annual CPI inflation rises to 7.9% in August

  

  Annual inflation in Germany, as measured by the Consumer Price Index (CPI), rose to 7.9% in August from 7.5% in July, Germany’s Destatis reported on Tuesday. This reading came in slightly higher than the market expectation of 7.8%. The Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred …

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• 30 August 2022 4:22 pm

  Reuters: Iraq’s oil exports have not been affected by political turmoil

  

  Three sources told Reuters on Tuesday that Iraq’s oil exports have not been affected by the current political turmoil. Baghdad is witnessing the worst fighting in years, with clashes between rival Shi’ite groups entering their second day. Two sources confirmed that supporters of Shiite cleric Muqtada al-Sadr, a former leader …

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• 30 August 2022 3:20 pm

  Oil prices plunge against the backdrop of concerns related to inflation

  

  Oil prices fell on Tuesday on fears that the weakness of global economies caused by inflation will reduce demand for fuel, while Iraqi exports will not be affected by the ongoing clashes there. Brent crude futures for October delivery fell $2.45, or 2.33 percent, to $102.64 a barrel by 1022 …

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• 30 August 2022 2:04 pm

  Banks push European shares higher as interest rates and recession fears grow

  

  European shares rallied on Tuesday following a two-day sell-off with the banking sector supporting equities. However, concerns over a mounting energy crisis, interest rate hikes and an impending recession capped gains. The pan-European Stoxx 600 index rose 0.4 percent, after declining about 2.5 percent in the previous two sessions, on …

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• 30 August 2022 1:19 pm

  Gold falls due to the rise of the dollar and concerns about raising interest rates

  

  Gold prices fell on Tuesday, pressured by the dollar’s rise. At the same time, the possibility of higher US interest rates for a longer period also affected the non-yielding allure of the precious metal. And gold fell in immediate transactions 0.3 percent to $ 1732.10 an ounce (an ounce) by …

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• 30 August 2022 12:34 pm

  Nikkei rebounds after hitting a two-week low as technology shares rise

  

  The Japanese Nikkei index ended trading on Tuesday, up more than one percent, led by major technology companies, as the benchmark index rebounded after reaching its lowest level in two weeks in the previous session. The Nikkei rose 1.14 percent to close at 28,195.58 points, while the broader Topix index …

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• 30 August 2022 2:44 am

  Market Drivers – US Session – Monday, August 29

  

  WTI crude oil is settling at $97.01; highest since July 29. Continuing clashes in the Libyan capital, Tripoli, are threatening oil supply, moreover, the OPEC+ meeting is also a concern as Saudi Arabia has threatened production cuts. Earlier on Monday, WTI oil moved above the $96 level as traders focused …

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