Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 23 May 2022 2:50 pm

  Gold rises to its highest level in more than a week

  

  On Monday, gold prices rose to their highest level in more than a week, benefiting from a weaker dollar, although higher US Treasury yields limited gains for the dollar-denominated yellow metal. And gold rose in spot transactions 0.6 percent to $ 1856.41 an ounce by 0814 GMT. After prices reached …

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• 23 May 2022 2:00 pm

  The euro rises after hopes of a recovery in growth dampened demand for the dollar

  

  The euro rose on Monday as investors sold dollars on hopes that easing China’s lockdown measures could support global economic growth. The calmer atmosphere in the stock markets in early European trade also put additional pressure on the dollar, which fell sharply last week, but remains the currency of refuge …

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• 23 May 2022 1:15 pm

  Germany: IFO Business Climate improves in May

  

  The monthly survey conducted by Germany’s Ifo Institute showed on Monday that the Business Climate Index improved to 93 in May from 91.9 in April, surpassing the market expectation of 91.4. Additionally, the Current Assessment Index rose to 99.5 from 97.3 and the Expectations Index edged higher to 86.9 from …

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• 23 May 2022 12:55 pm

  Biden is considering cutting tariffs on China and asking OPEC to pump more oil

  

  US President Joe Biden said he was considering cutting tariffs on Chinese goods and called on the Organization of the Petroleum Exporting Countries (OPEC) to increase oil production as he faces a major inflation wave in the United States. Biden said on reducing tariffs on China that he is considering …

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• 23 May 2022 12:34 pm

  IMF Managing Director: We do not expect a global recession

  

  International Monetary Fund Managing Director Kristalina Georgieva said on Monday that the tightening of financial conditions, the rise of the dollar and the slowdown in China’s economy are all factors affecting the global economy, but the IMF does not expect a global recession. “All of these factors make ratings downgrades …

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• 23 May 2022 11:50 am

  Germany wants to ban Russian oil with or without Hungary

  

  German Economy Minister Robert Habeck said in a radio interview that the European Union has not yet agreed to the Russian oil embargo, adding that Germany would be willing to abandon Hungary’s participation to speed up the implementation of the proposed embargo. “If the commission chairperson says 26 countries will …

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• 23 May 2022 10:59 am

  Oil rises in early trading

  

  Oil prices rose in early trading on Monday as US fuel demand, tight supplies and a slight decline in the dollar supported the market as Shanghai prepared to reopen after a two-month shutdown, raising concerns about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a …

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• 23 May 2022 10:41 am

  Japan’s Nikkei index rises 1% to cross the 27,000-point barrier

  

  The Japanese Nikkei index closed up by one percent on Monday, to return to the level of 27,000 points, tracking early gains in US stocks. The Nikkei rose to 27,047.47 points on the day shortly after the open, approaching its highest level in a month but then retreating, before rising …

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• 23 May 2022 3:31 am

  New Leftist Government Ascends To Power In Australia

  

  On Monday, markets are getting prepared to deal with a new government in Australia, whose new leaders will be sworn in following the Labour Party’s electoral victory Saturday.In what is a seismic shift in its politics, the Australian dollar traders will be weighing the implications for markets following almost a …

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• 23 May 2022 3:18 am

  Lagarde signals ECB’s first Hike likely in July

  

  European Central Bank President Christine Lagarde said the first increase in interest rates in more than a decade may come in July, but meanwhile she downplayed the idea of a half-point move amongst accelerating concerns about economic expansion. Lagarde joins a number of ECB policymakers calling for a July hike …

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• 23 May 2022 1:09 am

  Financial markets’ Weekly Recap 16-20 May

  

  Federal Reserve chairman Jerome Powell doubled down on his agency’s commitment to fighting inflation, but warned Americans of further rough pains ahead. The US central bank declared war against inflation. Monetary policy tightening is still the major trend in the light of statements by the Fed officials and policymakers. Accelerating …

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• 21 May 2022 4:00 am

  Market Drivers – US Session – Friday 20 May

  

  The negative market mood increased appetite for safe-haven peers in the forex space, particularly the USD, while the JPY is the weakest on the week’s last trading day. US equities plunged between 1.51% and 2.49%, reaching fresh 52-week lows. That despite investors’ cheered rate cut of 0.15% by the Bank …

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• 21 May 2022 2:31 am

  US adds oil, gas rigs for ninth week

  

  US energy drillers this week added oil and natural gas rigs for a ninth consecutive week according to data released on Friday, as mostly small producers respond to high prices and prodding by the government to ramp up output.Since Moscow invaded Ukraine on Feb. 24, the US government has urged …

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