Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 9 May 2022 7:59 pm

  NZD/USD set to move back to 0.70 by early 2023

  

  The New Zealand dollar has been the worst-performing G10 currency in the past month. However, economists at ING expect NZD/USD to climb back toward 0.70 by early 2023 as the Reserve Bank of New Zealand (RBNZ) is set to deliver 200bp of additional tightening by year-end.Key Quotes“The impact of lockdowns …

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• 9 May 2022 7:25 pm

  BoE’s Saunders Uncomfortable with UK inflation expectations

  

  Bank of England external Monetary Policy Committee member Michael Saunders said on Monday that he is uncomfortable with where inflation expectations currently are and that interest rates below 1.0% are clearly below the neutral rate in the UK.Interest rates in the UK might need to go above neutral if inflation …

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• 9 May 2022 3:43 pm

  The dollar climbs to highest level in two decades

  

  The dollar rose to a 20-year high on Monday as a combination of rising US Treasury yields and closings in China boosted the dollar’s safe-haven appeal. Against a basket of major currencies, the dollar index exceeded 104.19 for the first time since July 2002, continuing its rise by nine percent …

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• 9 May 2022 1:54 pm

  Nikkei falls, dragged down by US stocks

  

  Japan’s Nikkei fell on Monday as US stock futures weakened and the prospect of an escalation of Russia’s offensive against Ukraine weighed on market sentiment. Fast Retailing, which operates Uniqlo stores, was among the biggest losers as China’s tightening of anti-Covid lockdowns worsened the country’s sales outlook. The Nikkei index …

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• 9 May 2022 1:10 pm

  Mining and technology sectors keep European stocks under pressure

  

  European shares eased slightly in early trading on Monday, dragged down by a slump in the mining sector as investors worried about a sharp economic slowdown in China due to anti-Covid-19 restrictions while rising US bond yields kept technology stocks under pressure. The pan-European STOXX 600 index was down 0.1 …

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• 9 May 2022 12:29 pm

  Oil prices fall due to global economic concerns

  

  Oil prices fell on Monday along with stock markets in Asia on fears that a global recession could slash oil demand, while investors looked ahead to European Union talks on a Russian oil embargo that is expected to tighten global supplies. By 0153 GMT, Brent crude prices fell 28 cents, …

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• 8 May 2022 8:45 pm

  Financial Markets’ Weekly Recap, 2 – 6 May

  

  The Fed hiked rates by 50 basis points. But Chair Jerome Powell’s comments briefly ignited a sharp rally across markets after saying that Fed wasn’t considering raising rates by 75 basis points in the near future. Assets rallied across the board on Wednesday after Powell’s comments; downplaying the likelihood of …

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• 7 May 2022 2:31 am

  Market Drivers – US Session – Friday 6 May

  

  Wall Street closed in the red territory amidst a dismal sentiment, central bank tightening, as investors reposition their portfolios once the US central bank hiked rates 50-bps for the first time in 20-years. Wall Street’s printed losses between 1.03% and 2.42%, putting an end to a volatile week led by …

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• 7 May 2022 12:57 am

  ECB Struggles With Weaker Euro

  

  It is evident that ECB president Christine Lagarde has a euro problem though weaker euro is the last thing that Lagarde needs at a time when the ECB is trying to tame hot inflation within the Eurozone. As inflation nears 7.5 percent, the fastest rate since 1999, the exhausted euro …

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• 7 May 2022 12:02 am

  EUR/USD hovers around 1.0540

  

  The EUR/USD pair trimmed some of Thursday’s losses, and it is set to finish the week on the right foot, snapping four consecutive weeks of losses amidst a risk-aversion environment in the financial markets. At 1.0552, the EUR/USD edges up some 0.13%.Risk aversion lifted the low-yielder EUR, despite broad US …

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• 6 May 2022 11:18 pm

  Baker Hughes: More US oil rigs for seventh week in a row

  

  US energy firms last week added oil and natural gas rigs for a seventh week in a row amid high prices and prodding by the government, although most shale producers were prioritizing shareholder returns over new spending on production.The oil and gas rig count, an early indicator of future output, …

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• 6 May 2022 10:21 pm

  After NFP: Americans get pay raise, US dollar to surge

  

  The US has gained 428,000 jobs and wages are up 5.5% year, roughly within expectations. Higher wages impact the kind of inflation that Fed can control. Faster rate hikes are firmly on the Fed’s agenda, benefiting the dollar. Job growth also looks healthy. Even when subtracting the downward revisions worth …

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• 6 May 2022 9:30 pm

  NFP data paves the way for 50 bps rate hike in June

  

  The US economy created 428.000 jobs for the second month in a row, near market expectations. According to analysts at Wells Fargo, the report is solid and reinforces their belief that the Federal Reserve will execute another 50 bps interest rate hike at its next meeting on June 14-15.Key Quotes: …

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