Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 13 May 2022 4:46 am

  Market Drivers – US Session – Thursday 12 May

  

  The US dollar index surged on the back of prevalent risk aversion. Panic selloff hit US equities and a broad crash impacted most cryptocurrencies, meanwhile massive quantitative tightening signals attracted the attention of traders, investors and market participants. Monetary policymakers recurrently hint at measures set to trench liquidity.Economic Data There …

  Read More »
• 13 May 2022 4:03 am

  Michigan Consumer Sentiment Index May Preview

  

  Consumer sentiment data are not normally trading events on most calendars, however, under the current feverish markets, almost any unexpected result will generate a reaction. If the Michigan Index is worse than expected it will spark fears of consumer led recession prompting further equity declines and the US dollar’s status …

  Read More »
• 13 May 2022 3:45 am

  Huge Crash Wipes Out Bitcoin, Other Cryptocurrencies

  

  Over $200 billion erased from the cryptocurrencies’ market in one day as selloff has intensified. The price of bitcoin plunged below $26,000 on Thursday, hitting the lowest level in 16 months.The price of bitcoin plunged as low as $25,401.29 on Thursday. That marks the first time the cryptocurrency has sunk …

  Read More »
• 13 May 2022 3:22 am

  Oil Exhibits Mixed Performance Amid Tight Supplies

  

  On Thursday, crude oil prices exhibited mixed performance as supply fears as well as geopolitical tensions in Europe got the upper hand over the economic data related fears across financial markets as inflation is soaring globally.Trading has been thin and nobody knows what’s going to move the needle,” said John …

  Read More »
• 13 May 2022 2:28 am

  Fed’s Powell vows to fix inflation

  

  The Federal Reserve Chair Jerome Powell said on Thursday that the US central bank’s battle to tame inflationary pressures would “include some pain” as the impact of higher interest rates is being felt, but that the worse outcome would be for prices to continue speeding ahead.”“We went through periods in …

  Read More »
• 13 May 2022 1:51 am

  Natural Gas Soars In Europe After Russian Measures

  

  Russian sanctions on Poland’s key pipeline are expected to limit Europe’s ability to import Russian natural gas if Ukrainian pipes go down. The Russian measures are also expected to put additional pressure on US natural gas producers as Russia is intended to cut Off Supplies to Europe.As Europe races to …

  Read More »
• 13 May 2022 12:28 am

  Fed’s Daly: 50 bps vs.75 bps debate not a primary consideration

  

  President of San Francisco Fed, Mary C. Daly stated that there is no reason to justify altering the course for 50 bps at the next two FOMC meetings, adding that the debate between 50 bps-75 bps is not a primary consideration. Daly reiterated that she still wants to reach a …

  Read More »
• 12 May 2022 11:39 pm

  Bank of Mexico hikes interest rate by 50bps to 7%

  

  The Bank of Mexico sets the benchmark interest rate at 7%, although Reuters reports that the board was not unanimous on rate decision with one member of the board voting to hike rates to 7.25%.Preliminary information suggests that economic activity rebounded during the first quarter of 2022. Given the growing …

  Read More »
• 12 May 2022 10:45 pm

  Gold Retreats On Stronger USD

  

  Gold price is losing 1.60% on Thursday, falling from a high of $1,858.87 to a fresh cycle low of $1,822.27. The US dollar is bid and climbed to fresh two-decade highs on Thursday as investors flock to the safe-haven currency in the face of surging inflation.Wednesday’s data bolstered market’s expectations …

  Read More »
• 12 May 2022 9:08 pm

  Yellen concerned about Treasury market functioning

  

  US Treasury Secretary Janet Yellen mentioned on Thursday that the Financial Stability Oversight Council (FSOC) is concerned about the functioning of the Treasury market. While Yellen testifies, stocks erased gains printing fresh YTD lows and the dollar strengthened. The DXY is at multi-year highs above 104.70. The 10-year US yield …

  Read More »
• 12 May 2022 8:16 pm

  Wells Fargo: US Dollar Can Strengthen Further Against G10 Currencies

  

  Wells Fargo’s analysts believe that the US dollar can strengthen against G10 and emerging market currencies. They consider the aggressive monetary policy tightening from the Fed, safe haven capital flows as well as markets that are mis-priced for interest rate hikes abroad should all result in a stronger greenback going …

  Read More »
• 12 May 2022 7:29 pm

  USD/CAD Stabilizes Amid Global Risk Appetite

  

  The USD/CAD pair has stabilized just below multi-month highs in the low 1.3000s on Thursday, as a downturn in global macro risk appetite coupled with the strong performance of the safe-haven US dollar offered the pair support.Both US CPI and PPI data over the past two days showed an (as …

  Read More »
• 12 May 2022 4:40 pm

  US: Weekly Initial Jobless Claims rise slightly to 203K vs. 195K expected

  

  There were 203,000 Initial Jobless Claims in the week ending on 7 May, a little above the expected drop to 195,000 from 202,000 one week ago, data released by the US Department of Labour on Thursday showed. 

  Read More »