Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 10 May 2022 4:19 pm

  Macron spoke with the Prime Minister of Hungary about the Russian oil embargo

  

  French President Emmanuel Macron spoke by phone with Hungarian Prime Minister Viktor Orban about completing the European Union’s proposal to ban all Russian oil imports as part of the sixth package of sanctions targeting Russia, the French presidential palace said on Tuesday. “There are contacts at all levels to ensure …

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• 10 May 2022 2:53 pm

  Oil prices decline due to economic concerns and the rise of the dollar

  

  Oil prices fell in volatile trading on Tuesday as markets weighed the impact of European Union sanctions on Russian oil with demand concerns stemming from China’s COVID-19 lockdown measures, a strong dollar and recession fears. By 0924 GMT, Brent crude prices fell 88 cents, or 0.8 percent, to $105.06 a …

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• 10 May 2022 1:40 pm

  The Turkish lira fell to 15.16 against the dollar

  

  The Turkish lira fell another 0.4 percent against the dollar on Tuesday, extending its losses the previous day and returning to lows hit in late December after a series of interest rate cuts. The lira fell to 15.1620 per dollar by 0630 GMT from 15.09 at the close on Monday. …

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• 10 May 2022 1:10 pm

  European stocks recoup some of their losses

  

  European shares rebounded from two-month lows on Tuesday with broad-based gains backed by bargain-hunting after heavy selling on fears of slowing economic growth. By 0717 GMT, the pan-European Stoxx 600 index rose 0.9 percent, after closing on Monday at its lowest level since early March. Stock prices were hit globally …

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• 10 May 2022 12:39 pm

  Japanese stocks fall, but Wall Street’s recovery limits losses

  

  Japan’s Nikkei fell for the second day in a row on Tuesday, but avoided bigger losses as investors started buying back shares in hopes of higher prices after US stocks rebounded Monday night. The index closed down 0.58 percent to 26,167.10 points, after trimming its losses in overnight trading, supported …

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• 10 May 2022 2:44 am

  Market Drivers – US Session – Monday 9 May

  

  Risk aversion dominated financial markets at the beginning of the trading week. Global stocks edged lower, while government bond yields soared during European trading hours, giving up some ground ahead of Wall Street’s close.The negative market sentiment came from the usual suspects. High inflation levels, increasing coronavirus cases, and tensions …

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• 10 May 2022 2:23 am

  Hungary’s Orban Stalls EU Oil Embargo On Russia

  

  EU Commission chief von der Leyen’s plan to travel to see Hungary’s Orban yielded no breakthrough. The president of the European Commission has wanted Hungary to agree to stop importing Russian oil, but eventually failed to reach agreement with Hungary on Monday to secure the country’s backing for an oil …

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• 10 May 2022 2:07 am

  Gold bounces nearer $1,850 as investors await US inflation

  

  The Gold Price Index has witnessed a minor bounce after slipping near the previous week’s low at $1,850.47. A minor receptive buying has been observed but value buying can drive the precious metal higher. The bright metal has displayed a sheer downside on Monday amid broader strength in the US …

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• 10 May 2022 1:46 am

  Growth Concerns, Strong USD Drive Investors Away From Metals

  

  A week that saw a continued deterioration in the global growth outlook driven by extended China lockdowns, a stronger dollar and increasingly aggressive rate hike signals from members of the US Fed. The week highlighted how traders positioned themselves ahead of last Wednesday’s FOMC meeting. During the week US ten-year …

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• 10 May 2022 1:15 am

  USD/CAD Touches Lowest Level Since Nov 2020

  

  The USD/CAD pair is ending on North America session in the green territory by 0.8% following a final thrust to the upside in the US dollar. This development has taken the Canadian dollar to its lowest level since November 2020 amid rising concerns about the global economy and fears of …

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• 10 May 2022 12:21 am

  Fed survey: Inflation for consumers retreats from record high

  

  Consumers grew a little bit more optimistic about inflation in April, though they still expect to be spending considerably more in the year ahead, a Federal Reserve survey released Monday shows. Inflation expectations over the next year fell to a median 6.3%, a 0.3 percentage-point decrease from the record high …

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• 9 May 2022 11:38 pm

  Gold’s large selling program could be imminent

  

  The price of gold has remained in the hands of the bears as the US dollar surged to print a new 20-year high at the start of the week. The negative market sentiment stems from the risks associated with China’s COVID crisis, the Ukraine crisis, supply chain risks and what …

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• 9 May 2022 11:01 pm

  USD/CHF Gains, But Fell Short Of Parity At Around 0.9960s

  

  The USD/CHF pair retreated from YTD highs around 0.9960s as traders got ready to launch an assault toward the parity, but the negative market sentiment and USD traders booking profits were the main reason that kept the USD/CHF around the 0.9900 mark. At the time of writing, the USD/CHF is …

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