Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 31 May 2022 2:21 am

  EU diplomat: Bloc agrees to ban 90% of Russian oil imports by end of 2022

  

  EU leaders are meeting for an off-schedule summit with some progress regarding Russian sanctions. The EU Council President Charles Michel said the officials have agreed to ban the export of Russian oil to the EU. According to Michel, the EU ”agrees to de-swifting the largest Russian bank Sberbank, banning 3 …

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• 31 May 2022 2:11 am

  Market Drivers – US Session – Monday 30 May

  

  The US dollar remains under pressure in the first trading day of the week, sliding against most major rival currencies. The USD/JPY pair, however, edged higher amid the better tone of stocks markets.Economic Data No remarkable economic data was released on Monday. Other Developments EU representatives are still discussing the …

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• 31 May 2022 1:24 am

  RBNZ’s Hawkesby: Need to tighten conditions past neutral of 2%

  

  The Reserve Bank of New Zealand General Manager Christian Hawkesby said, on Monday, that the central bank needs to tighten conditions past neutral of 2% and reduce stimulus. Hawkesby forecasts a period of subdued consumption. He also said the risk of a recession is a possibility. The NZD was boosted …

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• 31 May 2022 12:28 am

  Are Knots Getting Tighter Around Russian Economy?

  

  If the Russian ruble is, against any practical scale, an indicator of the nation’s economic conditions, one can easily conclude that an initial storm has been caused by the West’s sanctions. When the West reacted to Russia’s military operation in Ukraine with a bulk of financial and trade sanctions, the …

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• 30 May 2022 10:29 pm

  Why do some economists see US stagflation inevitable?

  

  The first quarter of 2022 recorded US GDP growth rate of minus 1.5%, although nearly 1.7 million jobs have been created. For the second quarter, job growth is expected slow down, but most economists are forecasting growth to be in the 2% to 3% range. If economists are wrong and …

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• 30 May 2022 9:23 pm

  Cash Crisis Amid China’s Stalling Economy

  

  The cash crisis emerging at four rural banks in the central Chinese province of Henan is currently every saver’s nastiest nightmare.Deposits at four rural banks in the central Chinese province of Henan have been frozen since April 18, with looming protests in the capital city of Zhengzhou despite President Xi …

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• 30 May 2022 8:50 pm

  USD/CAD slides to fresh monthly lows

  

  The USD/CAD continued to decline during the North American session and recorded a fresh one-month low at 1.2649. the pair is hovering now near the lows, holding onto daily losses, about to post the fourth consecutive decline.The combination of an improvement in market sentiment, higher crude oil prices and a …

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• 30 May 2022 7:54 pm

  Gold steadies above $1850

  

  Gold begins the trading week with relatively positive performance, up by 0.20%. the Holiday in the US is expected to keep the precious metal’s prices within a tighter range amid a busy US economic calendar week.An absent US economic docket on Monday keeps gold traders leaning on market sentiment and …

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• 30 May 2022 7:13 pm

  Fed’s Waller Supports 50 bps Hikes At Next FOMC meetings

  

  Member of Fed Board of Governors, Chris Waller said on Monday that he supports hiking interest rates by another 50 bps at the next several FOMC meetings and that the policy rate should be above neutral by the end of the year to reduce demand, reported Reuters. Waller also said …

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• 30 May 2022 5:02 pm

  Canada: Q1 Current Account rises to C$5B versus C$3.2B expected

  

  Canada’s Current Account for Q1 rose to C$5.0B from -C$0.1B in Q4 2021, bigger than the expected jump to C$3.2B, data released by Statistics Canada on Monday revealed. Positive moves in global commodity markets helped boost Canadian exports last quarter, and will likely do the same in Q2. 

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• 30 May 2022 3:06 pm

  The dollar continues to decline with a temporary recovery in stocks

  

  The dollar extended its decline on Monday as risk appetite in the markets temporarily increased, buoyed by positive economic data and bets that the Federal Reserve will tighten monetary policy at a slower pace. And the US currency index, which measures its performance against six major currencies, is on its …

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• 30 May 2022 2:08 pm

  Reuters: EU summit to agree to ban Russian oil imports

  

  European Union leaders are set to agree at a summit later on Monday that the package of sanctions being prepared should include a ban on Russian oil imports as punishment for Moscow’s invasion of Ukraine, with the exception of pipeline supplies. But the leaders, who have been unable to agree …

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• 30 May 2022 1:32 pm

  European shares rise on optimism from China’s stimulus measures

  

  European shares rose to surpass three-week highs on Monday as fresh stimulus measures in China boosted optimism that began last week, while investors looked forward to more economic data this week, including inflation in Germany. And the authorities in Shanghai, the Chinese commercial center, will cancel many conditions imposed on …

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