Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 23 August 2022 12:02 pm

  German economic downturn deepens in Aug

  

  A downturn in German business activity deepened in August, a preliminary survey showed on Tuesday, as companies saw demand dampened by a combination of high inflation, rising interest rates and economic uncertainty. S&P Global’s flash composite Purchasing Managers’ Index (PMI), which tracks both the manufacturing and services sectors which together …

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• 23 August 2022 3:52 am

  Market Drivers – US Session – Monday, August 22

  Although safe-haven flows dominated the financial markets for the majority of the day on Monday, Wall Street’s main indexes managed to close the day modestly higher.Gold suffered heavy losses and dropped toward $1,770 on Monday. With the 10-year US T-bond yield edging lower during the American trading hours, XAU/USD edged …

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• 23 August 2022 2:20 am

  Could Gold Resist This Week’s Headwinds?

  

  Gold trades at $1,735.77 per ounce at the time of writing versus $ 1,747.37 in the previous trading session. Gold prices are generally falling behind the pace again to begin the week. The latest Consumer Sentiment data is being blamed for another sharp surge in the US Dollar overnight that …

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• 23 August 2022 1:40 am

  WTI pares losses as Iran nuclear deal progresses

  

  The WTI crude oil recovered from reaching a daily low of around $86.29 and finished up 0.80%. US Department of State noted that a nuclear deal with Iran is closer, a headwind for oil prices. Oil traders are worried about a possible US recession and China’s economic slowdown.Western Texas Intermediate …

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• 23 August 2022 1:25 am

  Dow Experiences Worst Day Since June

  

  The Dow Jones Industrial Index sharply fell, on Monday, in its worst day since June, as the summer rally fizzled out and fears of aggressive interest rate hikes returned to Wall Street.The Dow fell 643.13 points, or 1.91%, to 33,063.61. The S&P 500 dropped 2.14% to 4,137.99, and the Nasdaq …

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• 23 August 2022 12:34 am

  AUD/USD reacts to global economic fears

  

  The AUD/USD pair is back to flat on the day following a risk-off-led drop at the start of the week. The bears are waiting for the Jackson Hole around the corner amid Chinese economic fears.AUD/USD bulls are attempting to stabilize the pair following a test of daily lows at the …

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• 22 August 2022 11:42 pm

  Could Crude Oil Bulls Force Price Reversal?

  

  Oil prices continue as one of the hottest issues across global financial markets. WTI Crude Oil has spent the most of the previous three months funneling lower, taking on the form of a falling wedge. Such formations are often tracked for bullish reversal potential.The price action is consistent with two …

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• 22 August 2022 10:56 pm

  Bitcoin, ether slide on rising Treasury yields

  

  Bitcoin and Ethereum have extended their declines from Friday’s drop in Monday morning trading, though recovering a bit from an even deeper slump seen earlier in the session.The bearish price action also came as U.S. Treasury yields rose slightly across the curve, with the 10-year (US10Y) up three basis points …

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• 22 August 2022 10:04 pm

  UK economy shrank record 11% in 2020, worst since 1709

  

  The United Kingdom recorded its biggest fall in output in more than 300 years in 2020 when it faced the brunt of the COVID-19 pandemic, as well as a larger decline than any other major economy, updated official figures showed on Monday.Gross domestic product fell by 11.0% in 2020, the …

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• 22 August 2022 9:14 pm

  Euro’s Parity Revisited As Dollar Surges

  

  The Euro is under pressure as Russia to halt gas supplies, while the Chinese Yuan dips to nearly 2-year low as PBOC eases policy again. The U.S. dollar rose across the board on Monday, briefly driving the euro back below parity, as investors shied away from riskier assets amid growing …

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• 22 August 2022 8:42 pm

  KSA Energy Minister: OPEC+ has means including cutting production

  

  Saudi Arabia’s energy minister said, on Monday, that OPEC+ has the means to deal with market challenges including cutting production at any time, in different forms.“Oil market has fallen into a self-perpetuating vicious circle of very thin liquidity, extreme volatility undermining market’s essential function of efficient price discovery,” the minister …

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• 22 August 2022 8:12 pm

  Europe’s crisis worsens on halting Russian gas

  

  Natural gas prices jumped up nearly 20% as Russia gets ready to shut down vital pipeline again. News of another expected shutdown for the crucial Nord Stream 1 natural gas pipeline sent the region’s prices soaring to start the week.September Title Transfer Facility (TTF) natural-gas futures in the Netherlands jumped …

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• 22 August 2022 7:30 pm

  Germany Staring In Critical Winter’s Face

  

  German chancellor visits Canada in pursuit of for alternatives to Russian natural gas. Chancellor Olaf Scholz plans to sign hydrogen supply chains deal as pressure mounts over looming winter crisis. The German chancellor describes his visit as an urgent mission to extract Germany from its dependence on Russian gas and …

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