Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 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% …

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• 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 …

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• 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 …

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• 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, …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 9 August 2022 12:19 am

  EUR/USD testing green territories, eyeing US CPI data

  

  EUR/USD is shyly paddling in the green territory at the start of the week. The pair is holding up by 0.20% in the midday New York session. The pair has also ranged between a low of 1.0159 and 1.0221 so far and is currently trying to hold onto 1.0200 but …

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• 8 August 2022 11:20 pm

  After Extending Earlier Rally, Bitcoin Hovers Around $24K

  

  At the time of writing, the most famous cryptocurrency trades at $23,976. Earlier on Monday, Bitcoin climbed above $24,000, rising upon the same rhythm with the stock market and elevating stocks with high exposure to cryptocurrency.The price of Bitcoin has jumped nearly 5% over the past 24 hours to $24,220.36, …

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• 8 August 2022 10:28 pm

  GBP/USD Drops From Daily Highs

  

  The GBP/USD 4-hour scale depicts the pair as neutral-downward biased and might test the 1.2000 figure, short term.GBP/USD pair has trimmed some of last Friday’s losses but the asset is still trapped between the 20 and 50-DMA. The daily chart depicts the pair trending between a descending channel as sellers …

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• 8 August 2022 9:39 pm

  Nvidia stock drops on preliminary earnings warning

  

  Nvidia’s Q2 earnings will be announced after at least two weeks, but the company has found its way to news headlines after its preliminary numbers were revealed on Monday and the results are not looking good. The gaming revenue is reported at $2.04 billion, a staggering 33.33 percent decrease from …

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