Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 24 May 2022 2:47 am

  Powell officially sworn in as Fed chair

  

  Federal Reserve Chair Jerome Powell was formally sworn in on Monday to begin his second four-year term as head of the U.S. central bank as it aims to tame the highest inflation in four decades without tipping the economy into recession. Lael Brainard was also sworn in as the Fed’s …

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• 24 May 2022 2:25 am

  AUD/USD Rising, Defying Gravity

  

  The AUD/USD pair is rising and while this is ideally perceived of as a bearish continuation chart pattern, the Australian dollar has a habit of defying gravity when correcting the trend and a break of the current resistance would be an important development. On the other hand, the bears are …

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• 24 May 2022 1:31 am

  Governor Bailey: BoE not to blame for soaring inflation

  

  The governor of the Bank of England has hit back at critics who accused him of being asleep at the wheel while inflation soared and a cost of living crisis hit UK living standards.Andrew Bailey defends response to Covid pandemic and indicates that the British central bank will not take …

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• 24 May 2022 12:40 am

  Gold records a fresh two-week high at around $1860s

  

  The Gold Index advances for the fourth successive trading day and begins the trading week with an upbeat tone but retreats at the 20-day moving average (DMA) at $1856.45. The XAU/USD Index reflects the weak appetite for the US dollar, despite higher US Treasury yields, which are pairing last Friday’s …

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• 23 May 2022 10:27 pm

  USD/JPY retreats, but steadies around 127.80s

  

  The USD/JPY pair has edged lower and records minimal losses of 0.01% in the North American session, courtesy of a positive mood and a weaker greenback. At the time of writing, the USD/JPY is trading at 127.84.Market sentiment remains positive, as US equities gain between 1.27% and 1.90%. The US …

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• 23 May 2022 9:31 pm

  UK aims to legislate against Brexit deal

  

  The United Kingdom has been long supporting the case to modify the Northern Ireland Protocol amid the barriers it creates in Northern Ireland. Another issue comes from delay and prices rises amid checks requirements.However, the Union has refused to reopen the treaty and has threatened to use “all the measures …

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• 23 May 2022 8:39 pm

  EUR/USD surges on weaker dollar

  

  The EUR/USD pair is soaring and is closing to the 1.0700 mark, as the US dollar trading remains softer amid positive market sentiment, and an additional hawkish push provided by the ECB President Christine Lagarde, saying that a rate hike on July, it’s possible. At the time of writing, the …

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• 23 May 2022 7:57 pm

  GBP/USD rallies on improved risk-on, weaker dollar

  

  The GBP/USD pair opened the week near the 1.2470s area and, due to favorable market sentiment, rallied 100-pips, reclaiming the 1.2500 mark and closing at the 1.2600 price level, last seen on May 5.The sterling is extending its recovery after posting its first weekly gain in five and begins the …

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• 23 May 2022 7:14 pm

  Hawkish ECB members annoyed at Lagarde’s rate hike plan

  

  Some of the more hawkish European Central Bank policymakers are annoyed at the rate-hike timeline outlined by central bank President Christine Lagarde, Bloomberg reported on Monday citing sources, given some had preferred a faster option. Lagarde effectively signaled in a blog post on Monday that the bank would bring rates …

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• 23 May 2022 5:18 pm

  US: National Activity Index rises to 0.47 in April

  

  The US National Activity Index rose to 0.47 in April from 0.36 in March, data released by the Federal Reserve Bank of Chicago revealed on Monday. The National Activity Index is a monthly index designed to gauge overall economic activity and related inflationary pressure. The index has been relatively stable …

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• 23 May 2022 4:54 pm

  The Russian ruble continues to rise against the dollar and the euro

  

  The Russian currency, the ruble, continued its rise against the American and European currencies, as it rose today, Monday, by about 3%, and the dollar was trading below the level of 59 rubles and the euro below the level of 62 rubles. The Moscow Stock Exchange said – in a …

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• 23 May 2022 3:39 pm

  Oil rises in early trading

  

  Oil prices rose in early trading on Monday as US fuel demand, tight supplies and a slight decline in the dollar supported the market as Shanghai prepared to reopen after a two-month shutdown, raising concerns about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a …

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• 23 May 2022 2:50 pm

  Gold rises to its highest level in more than a week

  

  On Monday, gold prices rose to their highest level in more than a week, benefiting from a weaker dollar, although higher US Treasury yields limited gains for the dollar-denominated yellow metal. And gold rose in spot transactions 0.6 percent to $ 1856.41 an ounce by 0814 GMT. After prices reached …

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