Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 4 August 2022 8:46 pm

  Jobless data suggests recession has not come yet

  

  Initial jobless claims have been trending higher since early April in one of the clearest signs that the US labour market conditions have begun to deteriorate. While jobless claims have a successful track record foreshadowing recession, continuing claims are a better check on whether the economy is already slowing down.The …

  Read More »
• 4 August 2022 8:09 pm

  Looming NFP Data Could Mean Choppy US Stocks Trading

  

  The major US index futures are currently pointing to a roughly flat open on Thursday, with stocks likely to show a lack of direction following the rally seen in the previous session.The S&P 500 has gone back and forth during the US session, sitting below the 200 day EMA, as …

  Read More »
• 4 August 2022 7:22 pm

  Semiconductors pressured on Taiwan’s geopolitical row

  

  Truth to tell US House Speaker Nancy Pelosi left Taiwan but the visit has put commodities and supplies in focus once again on the island’s critical role in the global chip supply chain and in particular on the world’s biggest chipmaker, namely, TSMC.The controversial visit, which angered Beijing, was a …

  Read More »
• 4 August 2022 4:27 pm

  Bailey speech: Parts of UK economy are still going forward strongly

  

  Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 1.75%. Quotes “We would have had to raise interest rates in double digits last …

  Read More »
• 4 August 2022 3:15 pm

  BOE hikes policy rate by 50 bps to 1.75% as expected

  

  Following its August policy meeting, the Bank of England announced that it raised the policy rate by 50 basis points to 1.75% as expected. The policy statement revealed that Monetary Policy Committee (MPC) member Silvana Tenreyro voted to hike the rate by 0.25 basis points.

  Read More »
• 4 August 2022 2:51 pm

  Oil prices increase after falling to the lowest level in nearly 6 months

  

  Oil prices held largely steady on Thursday as the market balanced tight supplies with demand concerns, after an increase in US crude and gasoline inventories pushed prices to multi-month lows in the previous session. By 0925 GMT, Brent crude futures rose 36 cents, or 0.37 percent, to $97.14 a barrel, …

  Read More »
• 4 August 2022 1:23 pm

  Fed officials’ statements supporting USD, Pound awaits a rate hike

  

  The dollar held onto recent gains against other major currencies on Thursday, as comments from Federal Reserve officials reinforced the US central bank’s determination to tackle the highest inflation rate in decades with massive interest rate hikes. Meanwhile, the Bank of England is widely expected to raise interest rates by …

  Read More »
• 4 August 2022 12:52 pm

  European shares rise, supported by strong earnings results

  

  European shares rose on Thursday following strong results for several companies, while the focus is on the Bank of England, which is expected to raise interest rates by the most since 1995. The pan-European Stoxx 600 index rose 0.1 percent, following the path of Asian stocks, which rose 0.4 percent, …

  Read More »
• 4 August 2022 12:04 pm

  Gold rises as US Treasury yields fall

  

  Gold prices rose on Thursday, supported by lower US Treasury yields, as cautious investors awaited the US non-farm payrolls report due this week for more clues on the Federal Reserve’s stance on raising interest rates. By 0628 GMT, spot gold rose 0.3 percent to $1,769.74 an ounce. US futures also …

  Read More »
• 4 August 2022 11:16 am

  State media: Chinese military begins “strategic” exercises on Taiwan

  

  The People’s Republic of China decided to impose trade sanctions against Taiwan – as it had done against Australia – and targeted the island’s industrial sector, which enjoys political independence despite being a part of China. The General Administration of Customs of China suddenly announced the suspension of imports of …

  Read More »
• 4 August 2022 3:03 am

  Market Drivers – US Session – Wednesday, August 3

  

  US indexes surged, capping the safe-haven dollar’s demand, partially helped by strong Q2 corporate earnings reports and encouraging local data.Commodity-linked currencies, on the other hand, benefited from Wall Street’s strength. AUD/USD trades around 0.6950 while USD/CAD is marginally lower at 1.2840.The EUR/USD pair trades around 1.0160, as tepid European data …

  Read More »
• 4 August 2022 2:41 am

  What is important about Michael Saylor’s bet on Bitcoin?

  

  Michael Saylor’s bet on Bitcoin has failed and he lost. The MicroStrategy CEO, also one of the biggest bitcoin bull, has decided to step down. When cryptocurrency lending platform Celsius froze user accounts amid a drop in valuations, waves across the industry raised questions about what could happen to user …

  Read More »
• 4 August 2022 1:20 am

  Fed’s Kashkari: 2023 rate cuts very unlikely

  

  Fed’s Neel Kashkari has said that the Fed moved too slowly in 2021 in tackling high inflation. He also added that US wages are climbing and there is a risk that this goes into a wage-driven inflation story and that the US central bank is laser-focused on getting inflation down.Kashkari …

  Read More »