Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 2 August 2022 10:44 pm

  Gold trades around $1770, eying $1,800 amid Taiwan’s row

  

  At the time of writing, gold trades at $1767.5 per ounce. Gold has been back under pressure as US yields spike, but bulls are eying the $1800 level. There is room for further upside with the 68.2% Fibonacci meeting prior weekly structure around $1,800. Markets are cautious over US-China row …

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• 2 August 2022 9:41 pm

  Fed’s Mester Expects Slower US Economic Growth This Year

  

  Loretta Mester, president of the Federal Reserve Bank of Cleveland, joins Washington Post global economics correspondent David J. Lynch to discuss the Fed’s plan to tamp down on inflation and the concerns that it could induce a recession.Key quotesWe’ll be growing below trend this year.We are not in a recession.Haven’t …

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• 2 August 2022 8:41 pm

  EUR/USD retreats on risk-aversion as US dollar boosted

  

  The Euro struggled near 1.0300 and tumbled below 1.0200 before regaining the price level. Prevalent risk aversion keeps traders’ flows into safe-haven peers, including the US dollar.The EUR/USD pair failed to hold above 1.0200, ane could even dive towards 1.0100; otherwise, a rally to 1.0300 is also probable.The Euro remains …

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• 2 August 2022 7:53 pm

  USD/CAD jumps as Pelosi lands in Taiwan

  

  The USD/CAD pair jumped on risk-off impulse, spurred by geopolitical tensions between the US and China.The USD/CAD climbs above the 50-day EMA, due to several factors, including the visit of US House Speaker Nancy Pelosi to Taiwan and increasing tensions between the US and China. That alongside expectations of the …

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• 2 August 2022 7:17 pm

  China slams Pelosi’s visit to Taiwan

  

  In response to US House of Representatives Speaker Nancy Pelosi’s arrival in Taiwan, China’s Foreign Ministry said that Pelosi’s visit seriously violated China’s sovereignty and territorial integrity, as reported by Reuters.As for the market’s reaction, these comments don’t have an immediate significant impact on risk perception. As of writing, the …

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• 2 August 2022 6:53 pm

  Job openings fall sharply in June

  

  The total of US employment vacancies fell to about 10.7 million through the last day of June. Even with the sharp decline, there were still 1.8 open jobs per available worker.Job openings retreated in June to their lowest level since September 2021 in a potential sign that a historically tight …

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• 2 August 2022 5:39 pm

  Reuters: OPEC+ JTC lowers 2022 oil market surplus forecast to 800,000 bpd

  

  Citing two OPEC+ delegates, Reuters reported on Tuesday that the OPEC+ Joint Technical Committee (JTC) lowered its oil market surplus forecast for 2022 by 200,000 barrels per day (bpd) to 800,000 bpd. According to sources, the JTC did not discuss the output policy ahead of the ministerial meeting of OPEC+ on …

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• 2 August 2022 5:37 pm

  Yen heads for the biggest streak of gains in two years ahead of Pelosi’s visit to Taiwan

  

  The yen is set for its biggest streak of gains since the height of the coronavirus crisis in March 2020, as escalating US-China tension over Taiwan and heightened fears of a global economic slowdown boosted the attractiveness of assets that are considered safe investments. The US dollar has struggled broadly, …

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• 2 August 2022 3:41 pm

  China bans imports of more than 100 Taiwanese food manufacturers

  

  The People’s Republic of China decided to impose trade sanctions against Taiwan – as it had done against Australia – and targeted the island’s industrial sector, which enjoys political independence despite being a part of China. The General Administration of Customs of China suddenly announced the suspension of imports of …

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• 2 August 2022 3:36 pm

  Taiwan prepares for emergency amid China’s threats

  

  Taiwan’s Ministry of Defense said in a statement Tuesday that it is fully aware of the military exercises of China’s forces near the island’s coast, and that Taiwan is determined, capable and confident in its capabilities to protect its territory in case of emergency or any threats. This comes after …

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• 2 August 2022 3:16 pm

  Oil slips on global demand concerns, eyes turn to OPEC+ meeting

  

  Oil prices fell on Tuesday as investors digested a bleak outlook for global fuel demand after data pointing to a global slowdown in the manufacturing sector. In contrast, OPEC+ oil producers meet this week to decide whether to increase supplies. Surveys on Monday revealed that factories across the United States, …

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• 2 August 2022 2:44 pm

  Gold stabilizes as US bond yields fall and dollar rises

  

  Gold gave up early gains to trade flat on Tuesday as the US dollar rose, lower Treasury yields and growing recession fears kept the yellow metal near its four-week peak. And gold settled in spot transactions at about 1771.29 dollars an ounce by 0843 GMT, after hitting its highest level …

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• 2 August 2022 1:01 pm

  European shares decline, affected by fears of recession and Sino-American tension

  

  European shares fell on Tuesday, August 2 after weak global factory data reinforced fears of an economic slowdown, while markets were nervous ahead of US House Speaker Nancy Pelosi’s upcoming visit to Taiwan. By 7:08 GMT, the pan-European Stoxx 600 index was down 0.6%. Three sources said Pelosi was expected …

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