Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 20 May 2022 11:41 pm

  Fitch Warns: Gas Could Ignite Eurozone Recession

  

  Any sudden interruption in Russian gas supplies to the EU member states could push the Eurozone into recession, Fitch Ratings states that exposures are “so large that an immediate and total cessation of Russian natural gas supplies would result in gas shortages and rationing, causing a major macroeconomic shock”.The European …

  Read More »
• 20 May 2022 10:54 pm

  S&P 500 Dips As Selloff Continues

  

  Friday’s drop is conceived of as a bad omen for the economy as a whole. Only one bear market in the last 50 years, the market crash of 1987, was not accompanied by a recession. For the majority of the bull market since the March 2020 low, investors have had …

  Read More »
• 20 May 2022 10:07 pm

  USD/CHF stops bleeding on broad US dollar strength

  

  The Swiss franc gained more than 2.50% vs. the greenback. A dampened market mood and a strong US dollar capped the USD/CHF nosedive in the week. USD/CHF Price Forecast: Although the major held a massive loss in the week, it remains upward biased unless USD/CHF bears push the pair below …

  Read More »
• 20 May 2022 9:17 pm

  EU Faces Same Obstacles Over Tariff On Russian Oil, Embargo

  

  The idea of an EU tariff on oil imports from Russia comes from the United States, which is considering proposing that European countries impose a tariff instead of an embargo, to allay concerns about the security of supply and surging oil prices. The EU could combine tariffs and embargoes, US …

  Read More »
• 20 May 2022 8:36 pm

  AUD/USD struggles on risk-aversion

  

  The AUD/USD pair is up throughout the week by 1.34%, despite falling on Friday. Market sentiment fluctuates negatively in the last hour, dragging the AUD/USD lower. The Australian dollar is struggling at the 20-day moving average (DMA) and is losing the battle as the AUD/USD looks forward to resuming the …

  Read More »
• 20 May 2022 7:47 pm

  RBNZ could decide 50 bps rate hike next week

  

  The Reserve Bank of New Zealand will have its monetary policy meeting next week. According to analysts at Wells Fargo, high inflation and a hawkish central bank outlook sets the scene for another 50 bps hike in May to 2.00%. They expect the rate to end the year at 3.00%. …

  Read More »
• 20 May 2022 7:03 pm

  Eurozone Consumer Confidence unexpectedly rises in May

  

  Eurozone Consumer Confidence Index unexpectedly rose from -22.0 in April to -21.1 in May, according to the latest data release from the European Commission. That was slightly better than the small expected rise to -21.5, but still left the index close to multi-year lows, as EU consumers struggle amid surging …

  Read More »
• 20 May 2022 4:47 pm

  UK retail sales unexpectedly rose 1.4% month-on-month in April

  

  Britain’s retail sales unexpectedly rose 1.4% m/m after falling 1.2% in March, and sales in the three months to April fell 0.3% after a 0.7% drop in March. Britain’s consumer confidence index fell to its lowest level since the survey began in 1974, as this data comes as inflation in …

  Read More »
• 20 May 2022 3:39 pm

  Dollar loses momentum after weeks of rally

  

  The US dollar is headed for its worst week since early February against major currencies on Friday, losing some of the momentum it gained from a sudden 10 percent rise in its value. The dollar received a boost from investors’ appetite for it as a safe haven amid turmoil in …

  Read More »
• 20 May 2022 2:16 pm

  European shares rise, supported by hopes of an economic recovery in China

  

  European shares rose at the open on Friday, boosted by hopes of an economic recovery in China boosted by the central bank’s announcement of more stimulus, but the region’s stock index headed towards ending the week lower on recession fears. The mining and energy sectors led the gains and pushed …

  Read More »
• 20 May 2022 1:26 pm

  Gold is on its way to its first rise in 5 weeks as the dollar’s strength declines

  

  Gold prices rose on Friday, on track for their first weekly gain since mid-April, as the dollar’s retreat from two-decade highs and mounting concerns about US economic growth revived demand for safe-haven bullion. And gold rose in spot transactions 0.2 percent to $ 1845.71 an ounce by 0556 GMT. US …

  Read More »
• 20 May 2022 12:34 pm

  Japan’s Nikkei closes higher amid buying in lower stocks

  

  Japanese shares closed higher on Friday, recovering from a nearly 2 percent drop in the previous session, as investors snapped up falling stocks on hopes of corporate earnings growth. The Nikkei index ended trading up 1.27 percent at 2,6739.03, and recorded a weekly gain of 1.18 percent. The broader Topix …

  Read More »
• 20 May 2022 6:24 am

  Market Drivers – US Session – Thursday 19 May

  

  The US dollar changed course on Thursday despite prevalent risk-aversion and fell across the board. Fears and concerns burnt around inflationary pressures and the probable slowdown of the global economic growth. Demand for safe havens continued, with government bonds appreciating and yields retreating.Gold neared $1,950 a troy ounce, now trading …

  Read More »