Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 5 August 2022 12:34 am

  Fed’s Mester supports further Interest rate hikes this year on till Mid 2023

  

  President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Thursday that the Fed should raise interest rates to above 4% in order to bring inflation back down to target.The US dollar was lower vs. most major currencies on Thursday, down some 0.5% at the time of writing …

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• 4 August 2022 11:49 pm

  WTI Crude Retreats Below $90

  

  The US crude oil benchmark dipped early on Thursday to the lowest level in months, falling below $90 a barrel for the first time since Russia invaded Ukraine at the end of February.WTI trades now at $91.9, but at 10:30 a.m. ET on Thursday, the US benchmark WTI Crude had …

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• 4 August 2022 11:03 pm

  Enverus Lowers Oil Price Forecast

  

  In the latest signal of a faltering oil market, energy analytics and intelligence firm Enverus said it was lowering its outlook for crude oil prices in the face of a looming recession and signs of demand destruction. In an email, the firm said it was reducing its outlook for the …

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• 4 August 2022 10:17 pm

  Analyzing market reaction to NFP surprises

  

  US Nonfarm Payrolls are expected to rise by 250,000 in July. Most assets, including gold, could likely react more significantly to any disappointing jobs report than a positive one. Gold’s movement has no apparent connection with NFP deviation four hours after the release.The headline job gains so far this year …

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• 4 August 2022 9:20 pm

  Secretary General: OPEC should tread a fine line as not to consume all oil reserves

  

  OPEC Secretary General Haitham Al-Ghais told Al-arabiya TV, on Thursday, that the organization should tread a fine line as not to consume all oil reserves, the Organization’s Al-Ghais also commented on OPEC’s decision on Wednesday to only increase production by 100,000 barrels per day by saying: “we aim to test …

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• 4 August 2022 8:46 pm

  Jobless data suggests recession has not come yet

  

  Initial jobless claims have been trending higher since early April in one of the clearest signs that the US labour market conditions have begun to deteriorate. While jobless claims have a successful track record foreshadowing recession, continuing claims are a better check on whether the economy is already slowing down.The …

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• 4 August 2022 8:09 pm

  Looming NFP Data Could Mean Choppy US Stocks Trading

  

  The major US index futures are currently pointing to a roughly flat open on Thursday, with stocks likely to show a lack of direction following the rally seen in the previous session.The S&P 500 has gone back and forth during the US session, sitting below the 200 day EMA, as …

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• 4 August 2022 7:22 pm

  Semiconductors pressured on Taiwan’s geopolitical row

  

  Truth to tell US House Speaker Nancy Pelosi left Taiwan but the visit has put commodities and supplies in focus once again on the island’s critical role in the global chip supply chain and in particular on the world’s biggest chipmaker, namely, TSMC.The controversial visit, which angered Beijing, was a …

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• 4 August 2022 4:27 pm

  Bailey speech: Parts of UK economy are still going forward strongly

  

  Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 1.75%. Quotes “We would have had to raise interest rates in double digits last …

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• 4 August 2022 3:15 pm

  BOE hikes policy rate by 50 bps to 1.75% as expected

  

  Following its August policy meeting, the Bank of England announced that it raised the policy rate by 50 basis points to 1.75% as expected. The policy statement revealed that Monetary Policy Committee (MPC) member Silvana Tenreyro voted to hike the rate by 0.25 basis points.

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• 4 August 2022 2:51 pm

  Oil prices increase after falling to the lowest level in nearly 6 months

  

  Oil prices held largely steady on Thursday as the market balanced tight supplies with demand concerns, after an increase in US crude and gasoline inventories pushed prices to multi-month lows in the previous session. By 0925 GMT, Brent crude futures rose 36 cents, or 0.37 percent, to $97.14 a barrel, …

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• 4 August 2022 1:23 pm

  Fed officials’ statements supporting USD, Pound awaits a rate hike

  

  The dollar held onto recent gains against other major currencies on Thursday, as comments from Federal Reserve officials reinforced the US central bank’s determination to tackle the highest inflation rate in decades with massive interest rate hikes. Meanwhile, the Bank of England is widely expected to raise interest rates by …

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• 4 August 2022 12:52 pm

  European shares rise, supported by strong earnings results

  

  European shares rose on Thursday following strong results for several companies, while the focus is on the Bank of England, which is expected to raise interest rates by the most since 1995. The pan-European Stoxx 600 index rose 0.1 percent, following the path of Asian stocks, which rose 0.4 percent, …

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