Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 9 August 2022 11:22 pm

  Gold rises as US dollar rattled by inflation fears

  

  Gold futures ended session higher on Tuesday buoyed by dollar weakness ahead of US inflation readings due to be released next Wednesday amid forcastes inclined to lower inflation in July. Gold settled at 1793 USD per ounce versus last Monday close at 1788 USD per ounce.  The low of the …

  Read More »
• 9 August 2022 9:59 pm

  Oil edges higher as supply constraint fears renewed

  

  Oil edged up on Tuesday, reversing an early decline as worries about tightening supply were revived after Russia said oil exports to Europe on the southern leg of the Druzhba pipeline had been suspended since early August.Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the pipeline leg …

  Read More »
• 9 August 2022 9:10 pm

  EIA: Global oil demand to rise by 2.08 million bpd in 2022

  

  The global oil demand is expected to rise by 2.08 million barrels per day (bpd), down from 2.23 million in the previous forecast, to 99.43 million bpd in 2022, the US Energy Information Administration said in its latest monthly report, as reported by Reuters.Crude oil prices continue to push lower …

  Read More »
• 9 August 2022 8:20 pm

  USD/CAD firmly advances towards 1.2900

  

  The USD/CAD pair has erased some of Monday’s losses and is now gaining about 0.24% at the time of writing.The diminished market sentiment keeps safe haven currencies like the US dollar in a positive situation. Investors brace for US Consumer Price Index for July, with headline inflation estimated to fall.The …

  Read More »
• 9 August 2022 7:57 pm

  US Nonfarm Productivity Falls 4.6% in 2Q

  

  US labour productivity declined for the second consecutive quarter as overall economic output contracted and employers spent more on labor as they added workers.US nonfarm labor productivity is a measure of goods and services produced in the US per hour worked, fell at a seasonally adjusted annual rate of 4.6% …

  Read More »
• 9 August 2022 7:13 pm

  US soaring inflation could ease in July, forecast by nine major banks

  

  The US Bureau of Labor Statistics will release July’s CPI data on Wednesday, August 10 at 12:30 GMT and as markets get closer to the release time, forecasts by the economists of nine major banks regarding the upcoming US inflation print expect inflation to ease down.Economists expect inflation to decelerate …

  Read More »
• 9 August 2022 5:17 pm

  Oil prices rise after supply stops via Russian pipeline

  

  Oil prices rose by more than $1 on Tuesday, after falling earlier, after Russia said that oil exports to Europe through the southern part of the Druzhba pipeline had been suspended since early August, reviving concerns about a supply shortage. Russia’s pipeline monopoly Transneft said Ukraine had suspended the flow …

  Read More »
• 9 August 2022 3:11 pm

  The dollar is falling as investors await US inflation data

  

  The dollar fell during trading on Tuesday, August 8, as investors awaited US inflation data this week for signs that price pressures in the United States will ease after raising interest rates. The dollar index, which measures the value of the US currency against a basket of six competing currencies, …

  Read More »
• 9 August 2022 1:26 pm

  EUR/USD: Looking for another test of 1.0300

  

  After registering modest gains on Monday, EUR/USD has stretched higher and climbed above 1.0200. Nevertheless, euro recovery remains limited ahead of Wednesday’s key data releases. EUR/USD advances for the second session in a row and extends the optimism seen at the beginning of the week, as the greenback continues to …

  Read More »
• 9 August 2022 12:19 pm

  Gold is down slightly as investors focus on US inflation data

  

  Gold fell slightly on Tuesday as investors awaited US inflation data this week that may give more clarity about the Federal Reserve’s plans to raise interest rates in order to control inflation. By 0710 GMT, spot gold fell 0.2% to $1,785.89 an ounce, and US gold futures fell 0.2% to …

  Read More »
• 9 August 2022 11:23 am

  The dollar is falling slightly as investors await inflation data

  

  The dollar fell slightly from its highs on Tuesday as investors awaited US inflation data this week, as they fear a surprise may increase pressure to raise interest rates. This data is due out on Wednesday, with things expected to remain calm until then. The Australian and New Zealand dollars …

  Read More »
• 9 August 2022 6:25 am

  Market Drivers – US Session – Monday August 8

  

  The US dollar eased on Monday as government bond yields retreated, providing support to stock markets. Still, the absence of relevant news maintained US indexes seesawing within familiar levels. European indexes posted modest intraday gains, but Wall Street closed mixed.Spot gold retained gains at the end of the day at …

  Read More »
• 9 August 2022 1:14 am

  Goldman Sachs Cuts Oil Price Forecast To $110 This Quarter

  

  Goldman Sachs revised down its Brent price forecast for this quarter to $110 a barrel, down from a previous projection of $140 per barrel, but the investment bank still believes the case for higher oil prices remains strong.In recent weeks, oil prices have been driven down by low trading liquidity …

  Read More »