Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 3 August 2022 3:09 am

  Market Drivers – US Session – Tuesday, August 2

  

  Risk-aversion came back benefitting the US dollar that is widely considered as a safe haven. US-Sino tensions arose on the arrival of US House Speaker Nancy Pelosi to Taiwan. Pelosi supports the local government against China’s will.Crude oil prices, on the other hand, recovered some ground and the barrel of …

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• 3 August 2022 2:13 am

  Robinhood cutting 23% of jobs, releases Q2 earnings

  

  Robinhood will reduce its headcount by approximately 23%. The American financial services company, headquartered in California, also dropped its earnings report for the second quarter, which showed a decline in monthly active users and assets under custody. Robinhood CEO Vlad Tenev said, on Tuesday, “deterioration of the macro environment, with …

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• 3 August 2022 1:01 am

  Starbucks surpasses earnings, revenue estimates

  

  Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance.Shares of Starbucks have fallen 27% this year, dragging its market value down to $98.37 billion. The coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in …

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• 3 August 2022 12:38 am

  Uber, Caterpillar, JetBlue fall, SunPower rise

  

  US stocks that traded heavily or had substantial price changes, on Tuesday, include Caterpillar, down $11.35 to $183.51. The construction equipment maker’s second-quarter revenue fell short of Wall Street forecasts. Uber Technologies’ stock was up $4.65 to $29.25. The ride-application-based company reported surprisingly strong second-quarter revenue.BP PLC stock was up …

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• 2 August 2022 11:27 pm

  EUR/GBP struggles amid risk off mood

  

  A risk-off impulse keeps safe-haven peers rising, as geopolitical US-China frays keep traders more cautious. At the time of writing, the EUR/GBP is trading at 0.8350.The EUR/GBP pair is still maintaining a kind of defensive stance as sellers eye a break below 0.8346. The RSI in the EUR/GBP daily chart …

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• 2 August 2022 10:44 pm

  Gold trades around $1770, eying $1,800 amid Taiwan’s row

  

  At the time of writing, gold trades at $1767.5 per ounce. Gold has been back under pressure as US yields spike, but bulls are eying the $1800 level. There is room for further upside with the 68.2% Fibonacci meeting prior weekly structure around $1,800. Markets are cautious over US-China row …

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• 2 August 2022 9:41 pm

  Fed’s Mester Expects Slower US Economic Growth This Year

  

  Loretta Mester, president of the Federal Reserve Bank of Cleveland, joins Washington Post global economics correspondent David J. Lynch to discuss the Fed’s plan to tamp down on inflation and the concerns that it could induce a recession.Key quotesWe’ll be growing below trend this year.We are not in a recession.Haven’t …

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• 2 August 2022 8:41 pm

  EUR/USD retreats on risk-aversion as US dollar boosted

  

  The Euro struggled near 1.0300 and tumbled below 1.0200 before regaining the price level. Prevalent risk aversion keeps traders’ flows into safe-haven peers, including the US dollar.The EUR/USD pair failed to hold above 1.0200, ane could even dive towards 1.0100; otherwise, a rally to 1.0300 is also probable.The Euro remains …

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• 2 August 2022 7:53 pm

  USD/CAD jumps as Pelosi lands in Taiwan

  

  The USD/CAD pair jumped on risk-off impulse, spurred by geopolitical tensions between the US and China.The USD/CAD climbs above the 50-day EMA, due to several factors, including the visit of US House Speaker Nancy Pelosi to Taiwan and increasing tensions between the US and China. That alongside expectations of the …

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• 2 August 2022 7:17 pm

  China slams Pelosi’s visit to Taiwan

  

  In response to US House of Representatives Speaker Nancy Pelosi’s arrival in Taiwan, China’s Foreign Ministry said that Pelosi’s visit seriously violated China’s sovereignty and territorial integrity, as reported by Reuters.As for the market’s reaction, these comments don’t have an immediate significant impact on risk perception. As of writing, the …

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• 2 August 2022 6:53 pm

  Job openings fall sharply in June

  

  The total of US employment vacancies fell to about 10.7 million through the last day of June. Even with the sharp decline, there were still 1.8 open jobs per available worker.Job openings retreated in June to their lowest level since September 2021 in a potential sign that a historically tight …

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• 2 August 2022 5:39 pm

  Reuters: OPEC+ JTC lowers 2022 oil market surplus forecast to 800,000 bpd

  

  Citing two OPEC+ delegates, Reuters reported on Tuesday that the OPEC+ Joint Technical Committee (JTC) lowered its oil market surplus forecast for 2022 by 200,000 barrels per day (bpd) to 800,000 bpd. According to sources, the JTC did not discuss the output policy ahead of the ministerial meeting of OPEC+ on …

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• 2 August 2022 5:37 pm

  Yen heads for the biggest streak of gains in two years ahead of Pelosi’s visit to Taiwan

  

  The yen is set for its biggest streak of gains since the height of the coronavirus crisis in March 2020, as escalating US-China tension over Taiwan and heightened fears of a global economic slowdown boosted the attractiveness of assets that are considered safe investments. The US dollar has struggled broadly, …

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