Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 30 August 2022 12:35 am

  Gold Back Under Pressure In New York Session

  

  Gold price is bending below the European highs of $1,745.55. The precious metal is now losing 0.10% at the time of writing while the US dollar firms again, basing itself on a key measure versus a basket of rival currencies. Gold trades heavy in a bearish territory with potential demand …

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• 29 August 2022 11:29 pm

  Fed’s Kashkari: All understand Fed is serious about getting inflation back to 2%

  

  In response to the market’s reaction to last week’s Jackson Hole, Minneapolis Federal Reserve Bank President Neel Kashkari said, on Monday, that people now understand how serious policymakers are about getting inflation back to 2%.The dollar has touched a fresh 20-year high to start the week fueled by hawkish comments …

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• 29 August 2022 10:49 pm

  WTI crude oil benefits from supply concerns

  

  WTI crude oil is settling at $97.01. That is the highest since July 29. The settled price is also back above the 200 day MA at $96.02.Continuing clashes in the Libyan capital, Tripoli, are threatening oil supply, moreover, the OPEC+ meeting is also a concern as Saudi Arabia has threatened …

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• 29 August 2022 10:09 pm

  Wall Street hits one month lows on rate hike worries

  

  US stock indexes hit fresh one-month lows on Monday, adding to a sharp selloff last week as investors worried about the Fed’s plan to keep raising interest rates in its fight against inflation even if the cost is an economic slowdown.At 11:43 a.m. ET, the Dow Jones Industrial Average (.DJI) …

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• 29 August 2022 9:24 pm

  ECB sets the scene for jumbo rate hike

  

  The European Central Bank is prepared to at least repeat the half-point increase in interest rates it delivered last month, with an even bigger move not to be excluded as inflation nears yet another record.That is one message from ECB officials who joined Fed’s annual Jackson Hole symposium, which wrapped …

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• 29 August 2022 8:41 pm

  USD/CHF hits one month highs above 0.9700

  

  Swiss franc among worst performers amid higher treasury yields. The USD/CHF pair has broken key range and extends rally. EUR/CHF is currently at the highest level in 11 days; holding onto daily gains. The pair peaked during the Asian session at 0.9707 and then pulled back, finding support at 0.9655/60.The …

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• 29 August 2022 7:59 pm

  Gold still under Jackson Hole hawkish effect

  

  Gold price bounced from five-week lows on Monday, amidst a downbeat market mood, after last Friday’s hawkish remarks by Federal Reserve Chair Jerome Powell, spurred a fall in equities, propelling the greenback and US Treasury bond yields to fresh weekly highs. At the time of writing, XAU/USD is trading at …

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• 29 August 2022 7:19 pm

  Goldman: Buy commodities now, worry about recession later

  

  Goldman Sachs Group has urged financial market players to pile into commodities as most recession risks coursing through global markets are exaggerated. The group’s argument is that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.With oil the commodity of last resort in an era …

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• 29 August 2022 7:15 pm

  IEA: Russia’s oil production did not fall as previously expected

  

  International Energy Agency Chief Fatih Birol said on Monday that Russia’s oil production hasn’t fallen as much as previously expected because it managed to find new markets outside Europe and added domestic demand remained robust, per Reuters. “Going forward, it would be difficult for Russia to maintain oil production due …

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• 29 August 2022 3:55 pm

  The dollar is flying to its highest level in 20 years

  

  The US dollar rose to its highest level in 20 years against other major currencies on Monday after Federal Reserve Chairman Jerome Powell indicated that interest rates will remain high for a longer period in order to rein in spiraling inflation. The dollar index, which measures the value of the …

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• 29 August 2022 3:15 pm

  Gold falls to its lowest level in a month due to the recovery of USD

  

  Gold prices fell on Monday to their lowest level in a month, after the continued tightening of monetary policy to reduce inflation led to the decline in the attractiveness of the non-yielding precious metal and the rise of the dollar. And gold fell in spot transactions 0.9 percent to $ …

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• 29 August 2022 2:14 pm

  Sharp decline in European shares amid attempts to curb inflation

  

  European shares fell sharply on Monday, while bond yields rose after comments from monetary policymakers raised fears of violent measures to curb inflation amid rising recession risks. The pan-European Stoxx 600 index fell 0.8 percent to its lowest level in more than a month, with technology shares falling the most, …

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• 29 August 2022 1:17 pm

  Nikkei closes at its lowest level in two weeks

  

  Japan’s Nikkei index closed at a two-week low on Monday, tracking losses on Wall Street after US Federal Reserve Chairman Jerome Powell said tightening US monetary policy would be necessary “for some time” to curb inflation. The Nikkei index closed down 2.66 percent at 27878.96 points, with 202 down from …

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