Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 26 May 2022 5:02 pm

  US: Q1 GDP contracts at an annualized pace of 1.5%

  

  According to a second estimate by the US Bureau of Economic Analysis, the annualized pace of real GDP growth in Q1 2022 came in at -1.5%, below the first estimate of -1.4% and the market’s expectation for a growth rate of -1.3%, data on Thursday showed. Nonetheless, the latest GDP …

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• 26 May 2022 4:18 pm

  Moscow blames the West for Ukraine’s grain export problems

  

  The Kremlin on Thursday rejected accusations from the United States and the European Union that Russia was blocking grain exports from Ukraine, blaming the West for creating this situation due to the imposition of sanctions.“We do not categorically accept these accusations. On the contrary, we hold Western countries responsible for …

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• 26 May 2022 3:49 pm

  Oil pushes European shares higher, growth fears persist

  

  European shares rose slightly on Thursday, supported by a rise in energy shares and the US central bank’s commitment to its path to raise interest rates, while sentiment was negatively affected as concerns related to slowing economic growth persisted. By 0840 GMT, the pan-European Stoxx 600 index rose 0.2 percent, …

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• 26 May 2022 2:52 pm

  The Turkish lira is falling before the central bank meeting

  

  The Turkish lira fell by 0.5% Thursday, May 26, to 16.45 against the dollar, touching its weakest level since December, before a meeting of the Central Bank is expected to keep the benchmark interest rate at 14%. The lira has fallen about 20% this year, in addition to losing 44% …

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• 26 May 2022 2:29 pm

  Russia expects oil production to decline by 8.4% this year

  

  Russian Deputy Prime Minister Alexander Novak expected Thursday, May 26, that the country’s oil production would decline to between 480 and 500 million tons this year, from 524 million tons in 2021. The RIA news agency quoted Novak as telling reporters in Tehran that expectations are subject to change depending …

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• 26 May 2022 2:11 pm

  The Russian Central reduces the interest rate to 11%

  

  The Russian Central Bank cut the interest rate to 11% from 14% Thursday, May 26, with inflation falling from its highest levels in 20 years and the Russian economy approaching deflation. The Russian Central Bank said it saw room for further reduction this year, noting that risks to financial stability …

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• 26 May 2022 1:33 pm

  Oil rises due to tight supplies

  

  Oil prices rose on Thursday, continuing a cautious performance this week amid signs of tight supplies as the European Union discussed with Hungary plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. Brent crude futures for July delivery rose 47 cents, or 0.41 percent, …

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• 26 May 2022 12:44 pm

  Nikkei dips on chip-related stock losses

  

  Japan’s Nikkei fell for the third consecutive session on Thursday, as losses in blue chips-related blue chips outweighed a jump in airline and rail stocks. The Nikkei fell 0.27 percent to close at 26,604.84 points, giving up the gains recorded earlier in the session, supported by a strong closing of …

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• 26 May 2022 5:06 am

  Market Drivers – US Session – May 25

  

  The US dollar aimed to recover ground but pared its advance during US trading hours, ahead of the FOMC Meeting Minutes. The document showed that all members supported plans to reduce the balance sheet, while some added that, after the runoff was well underway, it would be appropriate to consider …

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• 26 May 2022 4:58 am

  Could Biden’s climate agenda bring about permanent recession?

  

  Americans are asking “Are we in a recession?” or “When are we going into recession?” Opponents of the current administration suggest that should US President Joe Biden continue to pursue his climate, fossil-free agenda, American economy could fall into a permanent recession. It could partly be replaced by nuclear power, …

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• 26 May 2022 2:36 am

  Fears grabble Bitcoin price, but signs of a potential reversal exist

  

  The crypto market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday FOMC meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates.The Fear and Greed Index is exhibiting its longest …

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• 26 May 2022 1:02 am

  RBNZ Orr: Can’t rule out a recession

  

  Following Tuesday’s Reserve Bank of New Zealand’s interest rate decision, the governor, Adrian Orr said, Wednesday that he can’t rule out a recession but he does not predict it is inevitable. Orr also said an increasing labour force will push the jobless rate up and that government spending is adding …

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• 26 May 2022 12:07 am

  USD/CAD Struggles, Slides Post-FOMC Minutes

  

  The USD/CAD pair retreats from weekly highs, extending its losses in the week to 0.18%. FOMC minutes confirmed that the June and July meetings would witness a 50-bps rate hike, each. USD/CAD, In the short term, is downward biased, and a break below 1.2713 would send the pair towards 1.2630.The …

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