Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 5 September 2022 5:09 pm

  OPEC + agrees to cut oil production by 100,000 barrels per day in October

  

  In its most recent ministerial meeting, the OPEC group decided to reduce oil production by 100,000 barrels per day, compared to the increase approved during the last meeting. The OPEC + ministerial meeting confirmed the negative impact of volatility and low liquidity on the current oil market, and the need …

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• 5 September 2022 4:13 pm

  Iran Announces Readiness to Supply Part of Europe’s Energy Needs in Cold Winter

  

  Iranian Foreign Ministry Spokesman Nasser Kanaani said on Monday that Iran is asking the International Atomic Energy Agency to stop its investigations into Iran’s nuclear activity, noting that this was one of Iran’s conditions for reviving the joint nuclear agreement. The spokesman said in a press statement that Iran is …

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• 5 September 2022 2:48 pm

  Eurozone Sentix Investor Confidence deteriorates to -31.8 in Sept

  

  The Eurozone Sentix Investor Confidence index came in at -31.8 in September from -25.2 in August vs. -27.5 expected. The index snapped its recovery amid mounting recession fears. The current situation in the eurozone dropped to -31.8 points in September from -25.2 in August. An expectations index tumbled to -37.0, …

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• 5 September 2022 2:23 pm

  Eurozone Retail Sales drop 0.9% YoY in July

  

  Eurozone’s Retail Sales rose by 0.3% MoM in July versus 0.4% expected and -1.0% last, the official figures released by Eurostat showed on Monday. On an annualized basis, the bloc’s Retail Sales came in at -0.9% in July versus -3.2% recorded in June and -0.7% estimated.

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• 5 September 2022 1:16 pm

  European shares slide as Nord Stream shutdown extends

  

  European shares fell on Monday after Russia extended a halt to gas flows through the Nord Stream 1 pipeline to Europe, raising concerns about energy prices and growth and prompting governments to announce emergency measures. The pan-European Stoxx 600 index was down 1.6 percent by 0713 GMT, while the German …

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• 5 September 2022 12:09 pm

  Inflation in Turkey touches its highest level in 24 years at 80.2%

  

  Data on Monday showed Turkey’s annual inflation rate rose to a 24-year high of 80.21 percent in August, after the central bank decided to cut interest rates unexpectedly last month, but the data remained below expectations. The Turkish Statistical Institute said consumer prices rose every month by 1.46 percent, compared …

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• 5 September 2022 11:20 am

  Gold price stability and Fed hike looming

  

  Gold prices stabilized on Monday, after jumping as much as 1.2 percent in the previous session, as cautious investors focused on the path of the Federal Reserve (US Central Bank) raising interest rates after swinging job data. There was no change in the price of gold in spot transactions at …

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• 5 September 2022 10:32 am

  Oil prices jump more than a dollar a barrel

  

  Oil prices jumped more than $1 a barrel on Monday, extending gains as investors awaited possible moves by OPEC+ producers to adjust production and support prices at a meeting later on Monday. Brent crude futures rose $1.43, or 1.5 percent, to $94.45 a barrel by 0054 GMT, after rising 0.7 …

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• 5 September 2022 5:03 am

  Financial Markets’ Weekly Recap, Aug 29- Sept 2

  

  The Non-Farm Payrolls report has been the dominant market for the past week. Nonfarm Payrolls in the US rose by 315,000 in August, this reading followed July’s increase of 526,000 (revised from 528,000) and came in slightly better than the market expectation of 300,000. The Unemployment Rate rose to 3.7% …

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• 3 September 2022 3:27 am

  Market Drivers – US Session 02/09/2022

  

  The USD/JPY modestly fell on Friday, after hitting earlier at 140.79, the highest level since 1998. The weaker US Dollar impacted the pair following the official US employment report.gold traded at $1711.40 versus the previous closing price at $1696. Although gold was relieved by $20 rally after the key US …

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• 3 September 2022 3:11 am

  Bond Yields Face Pressure By Central Banks

  

  Under pressure from central bankers determined to quash inflation even at the cost of economic slowdown or even recession, global bonds fell into their first bear market in decades.The Bloomberg Global Aggregate Total Return Index has fallen more than 20% from its peak that was recorded in 2021. Officials from …

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• 3 September 2022 2:42 am

  Could Gold Price Become This Weekend’s Surprise?

  

  At the time of writing, gold is trading at $1711.40 versus the previous closing price at $1696. Although gold was relieved by $20 rally after the key US jobs data, traders opt to stay cautious because of the generally negative macroeconomic data as well as the current gold’s dangerous technical …

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• 3 September 2022 1:46 am

  Oil Climbs As Iran Nuclear Talks Turned Off

  

  Crude oil gained 0.64 cents on Friday and trades at $87.25 versus Thursday’s close at $86.61. Crude prices rallied, on Friday, on the US session’s weaker dollar, declining US oil rigs by 9, in addition to retreating US-Iran talks. The US State Department said that the latest Iranian response in …

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