Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 6 August 2022 2:45 am

  Market Drivers – US Session – Friday, August 5

  

  Gold price maintained defensive stance late during the New York session after an early US employment report showed that the Fed is right about pushing back on recession chatter. Gold is trading at $1773.33, down by almost 1%.Before Wall Street opened, the US Bureau of Labour Statistics revealed that the …

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• 6 August 2022 2:26 am

  Oil Faces Biggest Weekly Loss Since April

  

  The price of crude oil rose on Friday, balking at the July U.S. jobs report, which suggested that the Federal Reserve could tighten further and limit the demand for crude oil. WTI rose to $90.69 per barrel on Friday at 11:22 a.m. ET, up $1.20 (+2.43%) on the day. Crude …

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• 6 August 2022 1:51 am

  US weekly rig count retreats

  

  The US drilling rig count is down 3 units to 764 rigs working for the week ended August 5, according to Baker Hughes data. The count is up 273 units from the 491 rigs working this time a year ago.At 746 rigs working, the land rig count is unchanged from …

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• 6 August 2022 1:17 am

  EUR/USD declines to familiar levels

  

  The EUR/USD pair has snapped two straight weeks of gains, and now drops 0.42%. The common currency is trendless, within the boundaries of 1.0096-1.0278.From a daily chart perspective, the EUR/USD might probe the 1.0096 low before a re-test of YTD lows below the parity level. The EUR/USD slumps late as …

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• 6 August 2022 12:26 am

  Lyft Achieves Record Earnings, Faces Inflationary Headwinds

  

  Lyft Achieves Record Earnings Lyft’ adjusted earnings hit $79 million in the second quarter. The Company sees “material improvement” in driver shortage. Lyft shares jumped as much as 8.6% Friday and is on track for its best week in nearly two years on after reporting the highest earnings in its …

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• 5 August 2022 11:26 pm

  Why do nervous central bankers closely watch RBA?

  

  In its latest meeting, the Reserve Bank of Australia hiked the key interest rate by 50 basis points to 1.85%. According to analysts, the RBA will likely raise again in September but with a 25 bps rate hike. They see the rate peak at 3.10% by early next year.August’s announcement …

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• 5 August 2022 10:29 pm

  GBP/USD drops on robust US NFP, US inflation eyed

  

  The GBP/USD pair prepares to finish the week with hefty losses of 0.78%. US labour data poured cold water on recession fears ahead of next week’s CPI. The GBP/USD tanks reached a fresh weekly low at 1.2002 as a reaction to a stellar US employment report which eases US recession …

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• 5 August 2022 9:33 pm

  NFP supports FOMC’s confidence to continue aggressive policy

  

  The July US official employment report showed better-than-expected numbers and triggered a rally of the US dollar on Friday. According to analysts, at least a 50 bps rate hike at the September 20-21 FOMC meeting seems on the table at this point of time, and yet another 75 bps hike …

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• 5 August 2022 8:40 pm

  Musk, Twitter Exchange Accusations Over $44 Billion Deal

  

  Last April, Elon Musk made a $44 billion offer to buy Twitter before he decided in July that he wanted to cancel the deal. On the other hand, Twitter said this does work works when one has already made a legally binding commitment. US courts now have the mission and …

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• 5 August 2022 8:14 pm

  Alibaba earnings report highlight attractive reversal story

  

  Alibaba Group’s first-quarter results beat Wall Street’s expectations after the platform company cut costs during a resurgence of the coronavirus pandemic across China.US listed shares of the Chinese Alibaba fell in half over the past year, though analysts saw encouraging trends in latest earnings report that could help change the …

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• 5 August 2022 7:43 pm

  Germany Reconsiders Nuclear Solution To Face Energy Crisis

  

  For over 30 years, nuclear power was one of Germany’s most troublesome debates. But with Russia cutting gas, Germans are reconsidering their political energy taboos. As soon as Angela Merkel pulled the plug on nuclear power after the Fukushima meltdown, Germany was placed on course to become the only leading …

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• 5 August 2022 6:55 pm

  Canadian Unemployment Rate Unchanged In July

  

  The Unemployment Rate in Canada stayed unchanged at 4.9% in July. The USD/CAD pair posts strong daily gains above 1.2950 after the economic data.The Unemployment Rate in Canada was virtually unchanged at 4.9% in July, Statistics Canada reported on Friday. This reading came in slightly better than the market expectation …

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• 5 August 2022 5:02 pm

  US Nonfarm Payrolls rise by 528,000 in July

  

  Nonfarm Payrolls in the US rose by 528,000 in July, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed June’s increase of 398,000 (revised from 372,000) and came in better than the market expectation of 250,000. The Unemployment Rate edged lower to 3.5%. …

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