Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 13 August 2022 12:43 am

  USD/CAD pares earlier losses

  

  US data revealed, Friday morning, lifted the USD/CAD above its 100-DMA when the University of Michigan showed that the US Consumer Sentiment improved from 52.5 as estimated to 55.1, reaching a three-month high. That is very good news for the Federal Reserve policymakers; however, US inflation expectations for a 5-year …

  Read More »
• 12 August 2022 11:39 pm

  Gold gains on retreating Treasury yields

  

  Gold prices drifted higher on Friday helped by a drop in U.S. Treasury yields and setting the metal on path for a fourth straight week of gains, as investors took stock of the recent inflation data out of the United States.Gold rose 0.5% to $1,798.86 per ounce by 1800 GMT …

  Read More »
• 12 August 2022 11:09 pm

  Fortuna Silver Earnings Retreat On Weaker Silver Price

  

  Fortuna Silver released its Q2 results this week, reporting quarterly production of 1.65 million ounces of silver and 62,200 ounces of gold, translating to a meaningful increase in revenue. However, with the impacts of provisional pricing adjustments, an inventory write-down, inflationary pressures, and weaker silver prices, earnings were down sharply …

  Read More »
• 12 August 2022 10:17 pm

  Russian economy steeply contracts on war, sanctions

  

  The Russian GDP from April through June declined 4 percent over last year according to new government data. Russia’s economy contracted in the second quarter as the economic consequences of its war in Ukraine took hold.The economy shrank 4 percent from April through June compared with a year ago, the …

  Read More »
• 12 August 2022 9:08 pm

  EUR/USD down from five-week highs

  

  The EUR/USD pair hesitates to hold above 1.0300, preparing to finish the week with gains of just 0.21%. US Consumer Sentiment rises to a three-month high, while inflation expectations remain mixed.EU’s Industrial Production surprised to the upside, but recession is still looming. The pair could not hold to its two-day …

  Read More »
• 12 August 2022 8:15 pm

  Friday’s US Consumer Confidence Gives Relief To US Economy

  

  Data released on Friday showed a rebound in Consumer Confidence in August according to the University of Michigan’s preliminary report. Analysts at Wells Fargo point out the relief comes amid a modest bounce in consumer sentiment from what was an all-time low in June. They take little solace in the …

  Read More »
• 12 August 2022 7:26 pm

  Fed’s Barkin: There’s more to come to get rates into restrictive territory

  

  Richmond Fed President Thomas Barkin said on Friday that there is more to come to get rates into the restrictive territory and noted that he would like to see PCE inflation running at target for some time, as reported by Reuters.The dollar continues to outperform its rivals after these comments …

  Read More »
• 12 August 2022 3:32 pm

  Eurozone Industrial Production rises 0.7% MoM in June

  

  Eurozone’s Industrial Production increased more than expected in June, as Eurostat published on Friday, suggesting that the bloc’s manufacturing sector activity recovery is back on track. The industrial output in the old continent increased 0.7% MoM vs. a 0.2% rise expected and 2.1% last. On an annualized basis, the industrial …

  Read More »
• 12 August 2022 3:28 pm

  Dollar rises as markets reassess rate hike bets

  

  The dollar rose in early trade in London on Friday as hawkish comments from Federal Reserve officials weighed against the notion that US inflation data this week could prompt the US central bank to slow down policy tightening. US inflation data came in less than expected, which led to support …

  Read More »
• 12 August 2022 1:54 pm

  Nikkei closes at 7-month high on hopes of slowing US rate hike

  

  Japan’s Nikkei index closed at a seven-month high on Friday, led by SoftBank Group and other technology heavyweights, as signs of slowing inflation in the United States raised hopes of a less sharp interest rate hike by the Federal Reserve and boosted appetite. on the risk. The Nikkei average jumped …

  Read More »
• 12 August 2022 12:32 pm

  Oil is heading to record weekly gains, and uncertainty about demand limits the rise

  

  Oil prices rose slightly on Friday, with crude contracts heading towards recording weekly gains as recession fears eased, but uncertainty regarding the outlook for demand limited the gains. By 0736 GMT, Brent crude futures rose 23 cents, or 0.2 percent, to $99.83 a barrel. West Texas Intermediate crude futures were …

  Read More »
• 12 August 2022 12:07 pm

  Gold is on the way to record the fourth weekly increase

  

  Gold prices stabilized on Friday and headed for the fourth consecutive weekly increase, in light of the general weakness of the US dollar, which was pressured by the increase in the yield on Treasury bonds, as well as expectations of a US interest rate hike. And by 0319, gold prices …

  Read More »
• 12 August 2022 3:28 am

  Market Drivers – US Session – Thursday, August 11

  

  The US dollar seesawed between gains and losses on Thursday, ending the day lower against most major rivals. Wall Street opened the day firmly higher amid more signals of receding US inflationary pressures, as the July Producer Price Index advanced by 9.8%, below expected.The EUR/USD pair peaked at around 1.0360 …

  Read More »