Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2022

• 11 April 2022 6:20 pm

  USD/CAD Holding Intraday Gains

  

  A combination of supporting factors assisted USD/CAD to regain positive traction on Monday. Sliding crude oil prices undermined the loonie and extended support amid modest USD strength. The technical set-up favours bullish traders and supports prospects for additional near-term gains.The USD/CAD pair held on to its strong intraday gains through …

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• 11 April 2022 5:50 pm

  US Equities Expect More Bearish Tone Again

  

  S&P 500 remains under pressure with daily MACD momentum threatening to turn lower. Key remains a cluster of supports including the 63-day average and 38.2% retracement of the February/March rally at 4455/38, below which can see a more bearish tone emerge again, economists at Credit Suisse report.Break above 4520/25 needed …

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• 11 April 2022 5:21 pm

  Turkey to raise level of forex revenues exporters must sell to CBRT to 50%

  

  Turkey is reportedly considering raising the level of forex revenues that exporters must sell to the CBRT to as high as 50% from the current level of 25%, reported Reuters citing sources.Turkey’s current account balance registered a $5.15 billion deficit in February, widening $2.71 billion year-over-year, according to official data …

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• 11 April 2022 4:54 pm

  Oil below $100 due to withdrawals and fears of a closure in China

  

  Oil prices fell by four dollars a barrel on Monday, falling below $100 a barrel, after countries announced plans to withdraw record amounts of crude and oil products from their strategic stocks and with continued shutdowns in China. Brent crude fell $3.93, or 3.8 percent, to $98.58 a barrel by …

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• 11 April 2022 4:16 pm

  Palladium jumps 5% on supply concerns, inflation risks lift gold prices

  

  On Monday, palladium prices jumped 5 percent to their highest level in more than two weeks, driven by supply concerns after trading of the metal was suspended from Russia, while gold prices increased due to inflation tension caused by the war in Ukraine. Palladium rose 4.5 percent to $ 2534.40 …

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• 11 April 2022 3:26 pm

  The Russian oil embargo may be part of the next EU sanctions package

  

  The Russian oil embargo may be part of the The European Commission, the European Union’s executive arm, is preparing proposals for an EU embargo on Russian oil, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is no agreement yet. Referring to the commission, Irish …

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• 11 April 2022 2:40 pm

  Ukraine can export 600,000 tons of grain and oilseeds per month

  

  With the Black Sea ports closed, Ukraine can export 600,000 tons of grain and oilseeds per month, but may increase its export capacity to 2 million tons, the Ukrainian Grain Traders Union (UGA) said on Monday. Ukraine used to export almost all of its grains and oilseeds through seaports but …

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• 11 April 2022 2:05 pm

  The Euro Begins to Recover

  

  The euro appeared to be on its way on Monday to end a seven-day losing streak against the dollar, as the European single currency rallied after French President Emmanuel Macron defeated far-right rival Marine Le Pen in the first round of the presidential election. Investors’ concern about the future trends …

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• 11 April 2022 1:53 pm

  UK: Real GDP Grows by 0.1% in February

  

  The data published by the UK’s Office for National Statistics showed on Monday that the real Gross Domestic Product grew by 0.1% on a monthly basis in February. This print followed January’s expansion of 0.8% and missed the market expectation of 0.3%. Other data from the UK revealed that the …

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• 11 April 2022 12:53 pm

  Japan’s Nikkei closed lower, technology stocks affected by Nasdaq

  

  Japan’s Nikkei closed lower on Monday, as technology stocks followed the Nasdaq’s decline, which was affected by the Federal Reserve’s (US Central Bank) strong move to tackle inflation. The Nikkei index fell 0.61 percent to close at 2,6821.52 points after it had been trading higher earlier in the session. The …

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• 11 April 2022 12:05 pm

  Oil is falling due to fears of the closure in China

  

  Oil prices fell more than $2 a barrel on Monday, following a second consecutive weekly decline after countries announced plans to withdraw record amounts of crude and petroleum products from their strategic stocks and as lockdowns continued in China. Brent crude fell $2.05, or 2.0 percent, to $100.73 a barrel …

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• 11 April 2022 3:00 am

  EUR Benefits From French Elections As Macron leads 54%, le Pen 46%

  

  Emmanuel Macron and Marine Le Pen are running a fierce competition against each other in the final round of the French presidential election and the latest poll. Macron is leading 54% versus Le pen’s 46%.The euro is trading 0.25% in the open. Official results of the election are expected later …

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• 11 April 2022 2:47 am

  Weekly Market Recap 4-8 April

  

  It has been an eventful week as the US dollar played some competing roles. This has frustrated some traders, seeking to interpret and know how to deal with critical developments such as the FOMC’s first rate hike in years in light of several Fed speakers during the week.First and foremost, …

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