Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 3 August 2022 11:56 pm

  BoE to decide biggest rate hike in 27 years

  

  On Thursday, the Bank of England is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995. This move would take borrowing costs to 1.75% as the central bank encounters rising inflation and would be the first half-point hike since it was made independent …

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• 3 August 2022 11:18 pm

  USD/CAD down amid higher risk appetite

  

  The USD/CAD pair is down on the day as risk appetite bounces on Wednesday. Meanwhile, Sino-US tensions are eyed by traders and investors who also focus on the hawkish comments by Fed speakers. Frictions after the highest-level US visit by Nancy Pelosi, to Taiwan in 25 years help support the …

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• 3 August 2022 10:12 pm

  GBP/USD retreats on risk-on ahead of BoE’s decision

  

  The GBP/USD pair falls for the second successive day, as sellers hold 1.2200, alongside a risk-on impulse. Broad US dollar strength keeps the American currency afloat against most G10 currencies.Fed officials hawkish comments boosted the dollar and constituted a headwind for the GBP/USD pair. The Bank of England (BoE) is …

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• 3 August 2022 9:23 pm

  Fed speakers reiterate more hawkish tone

  

  “We have a lot in the pipeline in tightening but yet to see that in data showing a slowing of the economy,” San Francisco Fed President Mary Daly said on Wednesday. Daly said that the Fed is nowhere near finished with the inflation fight. Also, James Bullard began yesterday by …

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• 3 August 2022 8:29 pm

  US shares jump on robust earnings, strong US data

  

  US stock indexes rose on Wednesday on strong results from PayPal and CVS Health, with investors awaiting services activity data for clues on the health of the economy struggling with soaring inflation and tightening financial conditions.Shares of PayPal Holdings jumped 11.6% after the fintech company raised its annual profit guidance …

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• 3 August 2022 7:49 pm

  Moderna’s earnings rise above expectations

  

  Moderna’s Q2 results have beaten Wall Street’s quarterly earnings and revenue expectations. The Boston-based company generated $4.7 billion in sales for the quarter, a 9% increase over the same period last year.The biotech company’s costs rose to $1.4 billion, or 30% of the revenue generated from its vaccine. Moderna also …

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• 3 August 2022 7:02 pm

  ISM Services PMI rises to 56.7 in July above 53.5 expected

  

  The business activity in the US service sector expanded at a more robust pace in July than in June with the ISM Services PMI rising to 56.7 from 55.3. This reading came in better than the market expectation of 53.5.Further details of the publication revealed that the Prices Paid Index …

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• 3 August 2022 5:46 pm

  Reuters: OPEC+ agrees to raise September output by 100K bpd

  

  Citing a source familiar with the matter, Reuters reported on Wednesday that the Organization of the Petroleum Exporting Countries (OPEC) and allies, collectively known as OPEC+, have agreed to raise the oil output by 100,000 barrels per day in September. In a statement published following its meeting, OPEC said that …

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• 3 August 2022 5:30 pm

  What you need to know about China-Taiwan tensions

  

  US House Speaker Nancy Pelosi landed in Taiwan Tuesday evening, marking a significant show of support for Taiwan despite China’s threats of retaliation over the visit. Pelosi’s stop in Taipei is the first time a US House speaker has visited Taiwan in 25 years. Her trip comes at a low …

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• 3 August 2022 4:01 pm

  Germany accuses Russia of delaying gas deliveries

  

  German Chancellor Olaf Schultz said on Wednesday that the Nord Stream 1 gas pipeline turbine is working fine, requires no repairs and can be used at any time, blaming Russia for delays in gas supplies to the European Union. During his visit to Siemens Energy, which was accused by the …

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• 3 August 2022 2:58 pm

  OPEC+ meets amid oil production struggles

  

  The OPEC+ meets today, Wednesday, amid market expectations of a steady or slight increase in oil production, as most of its members are already pumping near their maximum production capacities and cannot meet US calls for increased production to fight the rising prices. U.S. and Western sanctions against Russia have …

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• 3 August 2022 2:19 pm

  OPEC Secretary-General: The recovery in demand continues, but it may be at a slower pace

  

  The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, told Algerian television ahead of the OPEC+ meeting on Wednesday that the recovery in oil demand is continuing. Still, it may be at a slower pace than at the beginning of the year and last year. Al-Ghais …

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• 3 August 2022 1:28 pm

  Eurozone Retail Sales plunge 3.7% YoY in June vs. -1.7% expected

  

  Eurozone’s Retail Sales fell by 1.2% MoM in June versus 0.0% expected and 0.4% last, the official figures released by Eurostat showed on Wednesday. On an annualized basis, the bloc’s Retail Sales came in at -3.7% in June versus 0.4% recorded in May and -1.7% estimated. Separately, Eurozone’s Producer Price …

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