Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 24 August 2022 4:20 pm

  Oil prices rise above $100 on OPEC+ production cuts talks

  

  Brent crude rose above $100 per barrel on Wednesday after Saudi Arabia indicated earlier this week that OPEC might consider cutting production in response to poor liquidity in the oil futures market. Global crude oil benchmarks were up on Wednesday, with Brent oil futures for October delivery gaining 1.03% to …

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• 24 August 2022 2:48 pm

  The dollar is rising and the euro is again approaching its lowest level in 20 years

  

  On Wednesday, the dollar made up for some data losses and rebounded towards recent peaks, while the euro remained under pressure amid growing recession fears fueled by a potential energy supply crisis. The dollar took a breather after disappointing surveys of the US manufacturing and service sectors revealed on Tuesday, …

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• 24 August 2022 1:30 pm

  Mining sector pushes European shares lower as energy crisis looms

  

  The sell-off in European shares continued on Wednesday, as investors worried about an energy crisis and bleak growth prospects, while hawkish comments from the US Federal Reserve on monetary policy further pressured sentiment. By 0716 GMT, the European Stoxx 600 index fell 0.2 percent, hovering near its lowest level in …

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• 24 August 2022 12:56 pm

  Gold falls as the dollar rises, amid anticipation of Jackson Hole

  

  Gold prices fell on Wednesday, August 24, in the United States of America, after hawkish statements from an official in the Federal Council surrounding the investors kept investors. And gold fell in direct transactions 0.1% to $ 1746.18 an ounce, the time at 07:12 GMT, after rising 0.7% in the …

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• 24 August 2022 12:10 pm

  Kuwaiti Oil Minister says his country has increased oil production in line with OPEC +

  

  On Wednesday, Kuwait’s official news agency said, citing the oil minister, that the country had increased crude oil production to 2.811 million b/d in line with the OPEC+ agreement. The minister added that years of underinvestment have resulted in spare capacity being extremely limited globally and that Kuwait will continue …

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• 24 August 2022 11:37 am

  Nikkei falls and closes at its lowest level in two weeks

  

  Japan’s Nikkei index hit its lowest closing level in two weeks on Wednesday, tracking Wall Street’s decline overnight after weak data. Still, gains in energy shares thanks to higher oil prices limited the losses. The Nikkei index fell 0.49 percent to 28,313.47 points, its lowest closing level since August 10, …

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• 24 August 2022 11:03 am

  Oil prices fall as fears ease that OPEC + production cuts soon

  

  Oil prices fell on Wednesday, after rising nearly 4 percent the previous day, due to easing fears that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, in the OPEC+ grouping, will soon cut production. Global benchmark Brent crude futures fell 40 cents, or 0.4 percent, to $99.82 …

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• 24 August 2022 2:43 am

  Market Drivers – US Session – Tuesday, August 23

  

  Some economists advise stock investors to completely forget about a dovish Fed and, instead, to get used to aggressive interest-rate hikes. The summer rally in stocks finally crossed the finish line, this week, as investors reconsidered an overly optimistic view that the US central bank would pivot away from outsized …

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• 24 August 2022 1:05 am

  Factories Impacted Most By UK Slowdown As Sterling Struggles

  

  The British pound fell to its lowest since mid-July against the dollar yesterday as soaring energy and a summer of strikes highlighted the UK cost of living crisis and intensified fears for more economic slowdown.last Friday, amid worries around Britain’s hot inflation and declining economy, the sterling recorded its biggest …

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• 24 August 2022 12:15 am

  Saudi Arabia Is Taming Oil Backwardation

  

  Analysts have warned that failure to reach a deal concerning crude oil output would mean that oil will continue to act as a runaway train, as even slowing demand growth would still also continue to squeeze the world’s spare capacity. Oil prices rallied on Tuesday while Saudi Arabia is warning …

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• 23 August 2022 10:11 pm

  Gold rallies on negative US economic data

  

  With a big deal of market volatility, gold prices have pushed to session highs as the housing market, an important pillar of US economic growth, continued to weaken as consumers bought fewer new homes than expected last month. The S&P Global flash PMI reading also has benefited the precious metal …

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• 23 August 2022 9:26 pm

  AUD/USD jumps on weaker US dollar

  

  US dollar tumbles after weak economic data. US PMI S&P Global shows the lowest reading in more than a year. The AUD/USD pair finds resistance around 0.6960 and losses momentum.The asset also broke above 0.6900 after the release of US economic data and peaked at 0.6962, the highest level since …

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• 23 August 2022 8:22 pm

  GBP/USD rallies sharply on US/UK PMIs data

  

  The GBP/USD pair jumps from YTD lows after US economic data reignited recession fears. US S&P Global PMIs were mixed, though reignited recession fears.The GBP/USD is trading at 1.1860, after hitting a YTD low at 1..1716, so the major swang more than 100 pips as a reaction to the abovementioned …

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