Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 24 August 2022 10:26 pm

  Gold has chance for correction ahead of Jackson Hole

  

  Gold has extended its bullish correction to the 38.2%$ ratio target and now has a chance of a deeper correction. Jackson Hole symposium is looming and signals by Jerome Powell are most awaited for direction and clues.The dollar benefited from higher US yields following the demand from domestic and international …

  Read More »
• 24 August 2022 9:37 pm

  Wells Fargo: USD could peak in Q4

  

  Analysts believe the US Dollar strength through the end of 2022 as a result of the hawkish Fed. They point out the dollar could peak during the fourth quarter of 2022, starting a period of cyclical weakness against most currencies in 2023 as the US economy enters recession and the …

  Read More »
• 24 August 2022 8:45 pm

  Will Mega Hike Save Eurozone From Looming Crisis?

  

  The Swiss National Bank imposed a minimum exchange rate against the Euro. Fears are, currently, accelerating of a new Euro crisis is broadly spreading. There are several signals that the Euro is weakening again. This week, the shared currency fell to a new all-time low against the Swiss franc. The …

  Read More »
• 24 August 2022 8:02 pm

  Iran starts assessing US response

  

  A spokesperson for Iran’s Foreign Ministry said on Wednesday that Iran has received the United States’ response to the draft agreement proposed by the European Union.The Iranian official has also said Tehran has started assessing the US comments on the draft deal. With the initial market reaction to this headline, …

  Read More »
• 24 August 2022 7:11 pm

  Market closer to bottom as pending home sales decline

  

  US Pending home sales dropped 19.9% in July compared with July 2021. This economic reading is a a measure of signed contracts on existing homes. The figure fell along eight out of the past nine months as rising mortgage rates made housing less affordable.Pending home sales, a measure of signed …

  Read More »
• 24 August 2022 6:45 pm

  Market Drivers – European Session 24/8/2022

  

  The GBP/USD pair turned south and trades a handful of pips below the 1.1800 level, not far above a fresh multi-month low of 1,1716 posted on Tuesday. The greenback regains its dominance across the FX board, following a short-lived knee-jerk on Tuesday, following the release of tepid US growth-related figures. …

  Read More »
• 24 August 2022 6:40 pm

  Gold prices marginally rise ahead of the “Jackson Hole” conference

  

  With a big deal of market volatility, gold prices have pushed to session highs. 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, which …

  Read More »
• 24 August 2022 6:33 pm

  US durable Goods Orders unchanged in July

  

  New orders for manufactured durable goods orders in the US stayed virtually unchanged at $273.5 billion in July, the US Census Bureau reported on Wednesday. This reading followed June’s 2.2% expansion and came in worse than the market expectation for an increase of 0.6%. The publication further read. “Excluding defence, …

  Read More »
• 24 August 2022 6:31 pm

  Wall Street falls as investors wait for signs of a rate hike

  

  Wall Street’s main indexes fell on Wednesday as recent economic data fueled fears of a slowdown ahead of the US Federal Reserve’s annual conference this week. The Dow Jones Industrial Average fell 10.58 points, or 0.03%, to 32,899.01 points. The Standard & Poor’s 500 index opened down 2.18 points, or …

  Read More »
• 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 …

  Read More »
• 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, …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »