Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 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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• 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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