Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 11 May 2022 3:52 am

  Important Facts To Know About Nopec Bill.

  

  After twenty years of failed attempts, the “No Oil Producing and Exporting Cartels” Act, NOPEC, was passed by Senate panel on Thursday in a 17:4 vote. Today, there are many things “influencing” the market purposefully, including releases from strategic petroleum reserves, which are explicitly designed to influence prices in a …

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• 11 May 2022 3:38 am

  Fed’s Bostic: GDP will increase by 2.6% this year

  

  The US GDP will increase by 2.6% this year according to Atlanta Fed President Raphael Bostic. The Fed’s policymaker also mentioned that the economy is strong, and demand is high, adding that Fed policy must be robust, vigilant, and adaptive.Following the comments, the EUR/USD pair is defensive around 1.0530, keeping …

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• 11 May 2022 3:23 am

  WTI Retreats Near $98.00 On Inventories, EIA Data

  

  The American WTI crude oil prices dropped to a fortnight low after weekly private oil inventory data had been released on Tuesday, before bouncing around $98.00 during the initial Asian session on Wednesday. The energy benchmark’s latest rebound to $98.40, however, remains doubtful amid sour market sentiment and uncertainty just …

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• 11 May 2022 2:19 am

  USD/CAD stabilizes ahead of CPI data, oil’s fall

  

  The USD/CAD pair has renewed its fresh high in the year at 1.3052. the pair is attempting to balance above the 1.3000 psychological resistance. USD/CAD also managed to continue its winning streak by positive performance on Tuesday.USD/CAD is likely to further advance amid uncertainty over the release of the US …

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• 11 May 2022 1:25 am

  Chinese imports tariff could be dropped by Biden

  

  US President Joe Biden declared that fighting inflation is his top priority adding that he understands Americans’ frustration over high prices.The Washington Post reported that ”Biden used a speech from the White House to address an issue that has become a major political liability for him. At the same time, …

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• 11 May 2022 12:24 am

  Biden Blaming Pandemic: Inflation ‘Hurting’ US Families

  

  US President Joe Biden blamed high inflation on COVID-19 pandemic disruptions to the economy as well as the Russo-Ukrainian conflict, adding that rising price pressures are “hurting” American families ahead of the November midterms. In response to reporters’ question about taking any “responsibility” for inflation, Biden stated, “I think our …

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• 10 May 2022 11:27 pm

  Fed’s Mester: After June, July’s Hikes, Fed to see what more is needed

  

  Cleveland Federal Reserve President Loretta Mester said on Tuesday that inflation will need to show a compelling slowdown before the Federal Reserve can consider pausing its interest rate increases, with the risks currently pointed towards a tougher fight to bring the pace of price increases under control.The US dollar was …

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• 10 May 2022 10:43 pm

  Gold Continues To Deteriorate Ahead Of CPI Data

  

  The gold price continues to retreat despite some relief in the US dollar’s advance. The XAU/USD is down some 0.46% at $1,845 while the DXY is trading at 103.85 and up just 0.1%. The dollar maintained choppy performance on Tuesday, shifting between modest gains as traders do concentrate on Wednesday’s …

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• 10 May 2022 9:59 pm

  EUR/USD Trapped As Fed Speakers Set the Scene For Rate Hikes

  

  The EUR/USD pair loses 0.18% on Tuesday during the US trading session, meanwhile, Fed policymakers seem to set the scene for 50-bps increases as they also eye Wednesday’s CPI data.The Euro continues to be unable to recover above the 1.0600 threshold. The shared currency has remained trapped around 1.0500 for …

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• 10 May 2022 9:14 pm

  Fed’s Waller suggest it is time to launch rate hikes

  

  Governor Christopher Waller has made some comments while traders are looking for any clues additional to his ‘Reflections on Monetary Policy 2021’ speech from last week that can shed light and clarity on Fed’s path ahead for 2022. The US dollar was choppy on Tuesday, stuck below the 20-year highs …

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• 10 May 2022 8:17 pm

  Fed’s Mester doesn’t rule out 75 bps hike forever

  

  Cleveland Fed President Loretta Mester said on Tuesday that Fed policymakers do not downplay the likelihood of a 75 basis points rate hike forever.Key Quotes“Pace we are going right now seems about right.”“Aim is to use tools to get demand in better alignment with supply.”“But I don’t want to rule …

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• 10 May 2022 7:31 pm

  EU’s Mora Visiting Tehran For Coordinating Vienna Talks

  

  Chief of European Union Foreign Policy, Enrique Mora is visiting Tehran in order to hold meetings on nuclear talks between the US, other Western powers, Russia and Iran. Mora said he is to work on closing the remaining gaps as negotiations continue. Talks, which are aimed at returning both the …

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• 10 May 2022 5:17 pm

  Gold rises as the dollar’s rise stops

  

  Gold rose on Tuesday as the dollar stabilized, prompting some investors to buy the precious metal ahead of the release of US inflation data that may influence the Federal Reserve’s decision on interest rates. And gold rose in spot transactions 0.3 percent to $ 1859.05 an ounce (an ounce) by …

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