Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 13 August 2022 3:35 am

  Market Drivers – US Session – Friday, August 12

  

  The dollar index on Friday rose by +0.58% and recovered mildly from Wednesday’s 5-week low. Still, the dollar closed -0.9% lower on the week. The dollar on Friday saw support from the stronger-than-expected US consumer sentiment report.On the surface, the University of Michigan’s latest survey of consumer sentiment was largely …

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• 13 August 2022 3:00 am

  Oil price retreats 2% on US Gulf of Mexico supply news

  

  Brent crude futures fell $1.45, or 1.5%, to settle at $98.15 a barrel, while US West Texas Intermediate (WTI) crude fell $2.25, or 2.4%, to settle at $92.09 a barrel. Both contracts gained more than 2% on Thursday.Oil prices plunged around 2% on Friday, on expectations that supply disruptions in …

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• 13 August 2022 2:57 am

  Gogoro’s Q2 earnings signal cautious outlook for the second half

  

  Since launching in 2011, Gogorohas grown into an EV battery swap leader. Gogoro released its Q2 earnings results yesterday, signaling a cautious but optimistic road ahead in the second half of 2022. Today, Gogoro offers one of the world’s most extensive battery swapping networks. In fact, over the past six …

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• 13 August 2022 2:25 am

  US dollar recovers some of this week’s losses

  

  The dollar index on Friday rose by +0.58% and recovered mildly from Wednesday’s 5-week low. Still, the dollar closed -0.9% lower on the week. The dollar on Friday saw support from the stronger-than-expected US consumer sentiment report. However, there was carry-over bearish sentiment for the dollar based on the favorable …

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• 13 August 2022 1:33 am

  US shares rise for fourth straight day

  

  week as investors warm to cooler inflationStocks rose sharply on Friday, clinching the fourth straight positive week for the S&P 500 as investors celebrated signs that inflation may be peaking. The Dow Jones Industrial Average added 424.38 points, or 1.27%, to close at 33,761.05. The S&P 500 gained 1.73% to …

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• 13 August 2022 12:43 am

  USD/CAD pares earlier losses

  

  US data revealed, Friday morning, lifted the USD/CAD above its 100-DMA when the University of Michigan showed that the US Consumer Sentiment improved from 52.5 as estimated to 55.1, reaching a three-month high. That is very good news for the Federal Reserve policymakers; however, US inflation expectations for a 5-year …

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• 12 August 2022 11:39 pm

  Gold gains on retreating Treasury yields

  

  Gold prices drifted higher on Friday helped by a drop in U.S. Treasury yields and setting the metal on path for a fourth straight week of gains, as investors took stock of the recent inflation data out of the United States.Gold rose 0.5% to $1,798.86 per ounce by 1800 GMT …

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• 12 August 2022 11:09 pm

  Fortuna Silver Earnings Retreat On Weaker Silver Price

  

  Fortuna Silver released its Q2 results this week, reporting quarterly production of 1.65 million ounces of silver and 62,200 ounces of gold, translating to a meaningful increase in revenue. However, with the impacts of provisional pricing adjustments, an inventory write-down, inflationary pressures, and weaker silver prices, earnings were down sharply …

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• 12 August 2022 10:17 pm

  Russian economy steeply contracts on war, sanctions

  

  The Russian GDP from April through June declined 4 percent over last year according to new government data. Russia’s economy contracted in the second quarter as the economic consequences of its war in Ukraine took hold.The economy shrank 4 percent from April through June compared with a year ago, the …

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• 12 August 2022 9:08 pm

  EUR/USD down from five-week highs

  

  The EUR/USD pair hesitates to hold above 1.0300, preparing to finish the week with gains of just 0.21%. US Consumer Sentiment rises to a three-month high, while inflation expectations remain mixed.EU’s Industrial Production surprised to the upside, but recession is still looming. The pair could not hold to its two-day …

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• 12 August 2022 8:15 pm

  Friday’s US Consumer Confidence Gives Relief To US Economy

  

  Data released on Friday showed a rebound in Consumer Confidence in August according to the University of Michigan’s preliminary report. Analysts at Wells Fargo point out the relief comes amid a modest bounce in consumer sentiment from what was an all-time low in June. They take little solace in the …

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• 12 August 2022 7:26 pm

  Fed’s Barkin: There’s more to come to get rates into restrictive territory

  

  Richmond Fed President Thomas Barkin said on Friday that there is more to come to get rates into the restrictive territory and noted that he would like to see PCE inflation running at target for some time, as reported by Reuters.The dollar continues to outperform its rivals after these comments …

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• 12 August 2022 3:32 pm

  Eurozone Industrial Production rises 0.7% MoM in June

  

  Eurozone’s Industrial Production increased more than expected in June, as Eurostat published on Friday, suggesting that the bloc’s manufacturing sector activity recovery is back on track. The industrial output in the old continent increased 0.7% MoM vs. a 0.2% rise expected and 2.1% last. On an annualized basis, the industrial …

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