Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 11 August 2022 10:49 pm

  USD/CAD battles after US PPI decelerates

  

  The USD/CAD pair extended its losses for the second straight day as sellers eye a break of the 200-DMA. July’s US inflation reports show signs of peaking, with CPI at 9% YoY and PPI at 10% YoY, below their previous month’s readings.The USD/CAD is trading at 1.2738 under its opening …

  Read More »
• 11 August 2022 9:53 pm

  EU Faces Worsened Energy Crisis On Soaring Demand

  

  European power prices have surged to fresh records on Thursday as recurrent hot weather waves are contributing to limit energy supplies and wildfires rage across France. Wildfires have been raging in the country, leading President Emmanuel Macron to enlist help from across Europe to join 10,000 French firefighters to battle …

  Read More »
• 11 August 2022 9:12 pm

  Gold slides away from $1800 on soaring US T-yields

  

  Gold has dived in the negative direction for the day after a reversal from near $1800. The Gold Index peaked at $1799 during the US trading session and then turned to the downside falling around $1785.Thursday’s data showed the Producer Price Index in the US dropped by 0.5% in July, …

  Read More »
• 11 August 2022 8:22 pm

  US Stocks rise on signs of easing inflation

  

  Futures point to Wall Street gains following Wednesday’s rally and US Stocks jumped for a second day Thursday as investors cheered another better-than-expected inflation report.The Dow Jones Industrial Average rose 182 points, or nearly 0.5%. The S&P 500 added 0.5%, and the Nasdaq Composite rose 0.2%.Investor sentiment got a boost …

  Read More »
• 11 August 2022 7:43 pm

  EUR/USD retreats as US Dollar Index trims losses

  

  The US July PPI drops unexpectedly in July while jobless claims hit monthly highs. The US dollar remains in negative territory, even as US yields rise.The EUR/USD pair is up for the fifth consecutive day, holding under Wednesday’s top. The pair has failed to break Wednesday’s highs around 1.0355 and …

  Read More »
• 11 August 2022 6:59 pm

  Disney stock pops on earnings, surpasses Netflix subscribers

  

  Those who are looking for signs of a recession are advised not look at Disney’s earnings report or the performance of Disney plus, in particular. Disney plus is only 18 months old, a really incredible performer.Disney stock surged by 73% in its theme park revenue year over year and smashed …

  Read More »
• 11 August 2022 4:55 pm

  OPEC cuts full-year 2022 world oil demand growth forecast to 3.1 million bpd

  

  In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said that it lowered the 2022 full-year demand growth forecast to 3.1 million barrels per day (bpd) from 3.36 million bpd, as reported by Reuters.

  Read More »
• 11 August 2022 4:53 pm

  Weekly Initial Jobless Claims rise to 262K

  

  There were 262,000 initial jobless claims in the week ending August 6, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 248,000 (revised from 260,000) and came in slightly lower than the market expectation of 263,000. Further …

  Read More »
• 11 August 2022 3:46 pm

  The dollar records more losses after US inflation data

  

  The dollar recorded further losses against other major currencies on Thursday after traders reduced their bets that the Federal Reserve (the US central bank) would raise interest rates aggressively after US inflation data that came the previous day was weaker than expected. And the dollar index, which measures the performance …

  Read More »
• 11 August 2022 2:49 pm

  Gold falls amid signs of US interest rate hike

  

  Gold prices fell on Thursday from their highest levels in more than a month, as comments from Federal Reserve officials pointed to further interest rate hikes despite signs of easing inflation in the world’s largest economy. Gold is highly affected by rising US interest rates, because they increase the opportunity …

  Read More »
• 11 August 2022 2:35 pm

  Oil steadies after IEA raises demand growth forecast

  

  Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …

  Read More »
• 11 August 2022 12:59 pm

  European stocks open higher

  

  European shares started Thursday’s session higher to consolidate gains in the previous session after data showed signs of slowing inflation in the United States, while shares of Dutch insurance company Aegon rose after raising its full-year forecast. The pan-European Stoxx 600 index rose 0.4 percent after its best session in …

  Read More »
• 11 August 2022 12:00 pm

  Data: China’s auto sales jump 30% in July

  

  Auto sales in China rose 29.7 percent in July compared to a year ago to 2.42 million units, continuing the recovery that began in June, supported by the easing of Covid-19 restrictions and government incentives. Data released by the China Association of Automobile Manufacturers on Thursday showed that sales for …

  Read More »