Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 17 August 2022 6:02 pm

  US Retail Sales remained flat MoM in July

  

  Retail Sales in the US stayed virtually unchanged at $682.8 billion in July, the data published by the US Census Bureau showed on Wednesday. This reading followed June’s increase of 0.8% and came in slightly weaker than the market expectation of +0.1%. “Total sales for the May 2022 through July …

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• 17 August 2022 5:46 pm

  Market Drivers – European Session 17/8/2022

  

  European shares rose for the sixth consecutive session on Wednesday, boosted by a rally in financial stocks as investors focused on economic growth and inflation data in the eurozone due for release this week. The pan-European Stoxx 600 index rose 0.2 percent in early trading, hovering near its highest level …

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• 17 August 2022 4:35 pm

  Norges Bank Preview: Forecasts from 3 major banks

  

  Norges Bank meets on Thursday, August 18 at 08:00 GMT. As we get closer to the release time, here are the expectations forecast by the economists and researchers of six major banks regarding the upcoming central bank’s Interest Rate Decision. Markets are pricing in a 50 basis points (bps) rate …

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• 17 August 2022 4:32 pm

  Saudi Arabia’s crude oil exports rise in June

  

  The International Energy Forum said on Wednesday, citing data from the Joint Organizations Data Initiative (JODI), that Saudi Arabia’s crude exports in June rose to 7.20 million barrels per day from 7.050 million in May. The data showed that demand for Saudi crude rose 364,000 barrels per day to 2.79 …

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• 17 August 2022 3:09 pm

  Dollar rises before Fed minutes

  

  The dollar remained higher against other major currencies on Wednesday, before the release of the minutes of the Federal Reserve’s meeting for the month of July, which may give more indications on the pace of raising interest rates again. The dollar has recouped its losses since lower-than-expected inflation data last …

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• 17 August 2022 2:08 pm

  Gold settled as investors await the minutes of Fed meeting

  

  Gold prices stabilized on Wednesday as investors awaited the release of the minutes of the Federal Reserve’s latest monetary policy meeting, looking for clues regarding interest rates amid signs of easing inflation. And the price of gold settled in spot transactions at 1776.75 dollars an ounce at 0708 GMT, after …

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• 17 August 2022 1:30 pm

  Oil falls to six-month low as recession fears grow

  

  Oil prices fell on Wednesday to their lowest level in six months, as fears of a global recession that would dampen demand overshadowed a report showing a decline in US crude and gasoline stocks. Brent crude futures were down 44 cents, or 0.5 percent, at $91.90 a barrel by 0815 …

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• 17 August 2022 12:40 pm

  UK inflation rises to its highest level since 1982

  

  Britain’s consumer price inflation jumped to 10.1 percent in July to its highest level since February 1982, official data showed on Wednesday, up from an annual rate of 9.4 percent in June, adding to pressure on households. In a Reuters poll of economists, the increase exceeded all expectations that inflation …

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• 17 August 2022 12:00 pm

  Nikkei closes above 29 points for the first time in seven months

  

  Japan’s Nikkei closed above 29,000 on Wednesday for the first time in more than seven months, after Wall Street’s main indexes rose overnight, driven by solid profits from US retailers. The Nikkei rose 1.23 percent to 29,222.77 points, closing at its highest level since Jan. 5. The broader Topix index …

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• 17 August 2022 3:44 am

  Market Drivers – US Session, Tuesday, August 16

  

  Caution prevailed on Tuesday, with the focus still on a potential global recession. The dollar maintained its dominance despite a short-lived knee-jerk at the beginning of the American session.Wall Street closed mixed, with the DJIA posting substantial gains, the S&P 500 modestly up, and the Nasdaq Composite shedding some ground.Economic …

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• 17 August 2022 3:08 am

  Gold Price Pressured Ahead Of FOMC Minutes

  

  Gold price holds lower ground near one-week low after two-day downtrend. Mixed sentiment as well as the pre FOMC Minutes anxiety have kept the Gold Index stuck. Recession-related fears have been renewed and even gained major attention with China, Europe in focus.FOMC Minutes will be eyed closely to confirm 75 …

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• 17 August 2022 2:11 am

  WTI hits six-month on Iranian deal, recession fears

  

  Western Texas Intermediate crude oil has dropped from 1% to 3%, extending its losses to three consecutive days. Mixed US data and weaker Industrial Production as well as Retail Sales from China keep producers uncertain of total oil requirements. The Iran nuclear deal agreement would free additional crude to the …

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• 17 August 2022 1:04 am

  Could FOMC Minutes Drive Fed’s Next Rate Hike Decision?

  

  Markets are awaiting the FOMC Meeting Minutes to decide on the size of the next Fed hike. FOMC will publish the July meeting minutes on Wednesday, August 17 at 18:00 GMT.Policymakers are likely to reiterate their commitment to monitor the data closely. The US dollar started the new week on …

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