Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2022

• 20 April 2022 1:08 am

  Crude Oil Gets Lower As WTI Reverses Down

  

  Crude Oil has been bullish since US WTI crude reversed from $-37.50 two years ago. It headed toward $100 where it traded for some time, but the conflict in Ukraine last month sent it surging higher, especially when the US president Joe Biden decided to place sanctions on Russian oil. …

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• 20 April 2022 1:01 am

  Swiss National Bank Chairman: Inflation Surge Temporary

  

  The Swiss National Bank sees the current increase in inflation as a temporary phenomenon, Chairman Thomas Jordan said on Tuesday, although the central bank would keep a close eye on the situation.Central banks including the US Federal Reserve and the Bank of England have started raising interest rates to fight …

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• 20 April 2022 12:29 am

  Fed’s Bostic: Larger 75 bps hike “not on the radar”

  

  Atlanta Fed President and FOMC member Raphael Bostic on Tuesday reiterated the important of getting rates to neutral territory “expeditiously”, though cautioned that a 75 bps rate hike is “not on the radar”.Bostic said he estimates the neutral rate to be around 2.5% and feels the US economy is strong …

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• 19 April 2022 11:26 pm

  Fed’s Evans: I don’t see the need for larger than 50 bps rate hikes

  

  Chicago Fed President and FOMC member Charles Evans on Tuesday pushed back against the idea of larger than 50 bps rate hikes at upcoming Fed meetings, saying that he doesn’t see the need for them, reported Reuters. Evans said he is comfortable with a rate hike path this year that …

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• 19 April 2022 11:09 pm

  Wall Street higher on earnings hopes

  

  An optimistic earnings outlook helped push Wall Street higher on Tuesday, while concerns over global economic growth and expectations on recession heavily weighed on oil and boosted bond yields.The tech-heavy Nasdaq led the way for gains in U.S. markets, shaking off lower trading in Europe. With many corporations beginning to …

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• 19 April 2022 10:00 pm

  USD/JPY: Pressure on the yen to wear off as the US curve inverts

  

  The Bank of Japan will face increasing political pressure if the Japanese yen slides further, say analysts from Danske Bank. They forecast the USD/JPY pair at 126 in one month, 125 in three months, 123 in six months and 119 in a year. Key Quotes: “Bank of Japan has fiercely …

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• 19 April 2022 9:52 pm

  USD/CAD Struggles Amid Firm US Dollar

  

  The USD/CAD trims Monday’s losses and stages a comeback, soaring in the North American session above the 1.2600 mark, approaching the 50-day moving average (DMA) at 1.2651. The USD/CAD is trading at 1.2625.Market sentiment and hawkish Fed lifted the USD/CAD above 1.2600. The market sentiment remains mixed. European equities are …

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• 19 April 2022 7:10 pm

  Canadian CPI Preview: Forecasts from five major banks, inflation to breach 6%

  

  Statistics Canada will release March Consumer Price Index (CPI) data on Wednesday, April 20 at 12:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of five major banks regarding the upcoming Canadian inflation data. The March Canada inflation rate is …

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• 19 April 2022 6:19 pm

  Gold slides to multi-day low, eyes $1,950 amid stronger USD

  

  Gold extended the previous day’s retracement slide from the vicinity of the $2,000 psychological mark and witnessed some selling on Tuesday. The intraday downfall picked up pace during the early North American session and dragged spot prices to a four-day low, around the $1,957 region in the last hour. The …

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• 19 April 2022 5:11 pm

  US: Housing starts rise by 0.3% in March, Building Permits rise by 0.4%

  

  Housing Starts rose by 0.3% in March, taking the rolling 12-month number of starts to 1.793M, above expectations for a drop to 1.745M from 1.788M in February, data released by the US Census Bureau on Tuesday showed. Meanwhile, Building Permits rose by 0.4%, taking the rolling 12-month number of permits …

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• 19 April 2022 2:43 pm

  The dollar stabilizes after hitting a 20-year high against the yen

  

  On Tuesday, the dollar rose to a 20-year high against the Japanese yen, and touched a two-year peak against the euro, boosted by rising US Treasury yields. The dollar index, which measures the performance of the US currency against six other currencies, rose to exceed 101 for the first time …

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• 19 April 2022 1:37 pm

  European stocks fall on the Ukraine crisis

  

  European shares are set to record their worst daily performance in nearly two weeks on Tuesday, as investors jittery over the war in Ukraine, expectations of a US Federal Reserve monetary policy tightening and mixed business results. The pan-European Stoxx 600 index fell 1 percent, after falling 0.9 percent last …

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• 19 April 2022 12:59 pm

  OPEC+ supply gap widens in March as sanctions hit Russia’s production

  

  A report from the OPEC + group seen by Reuters showed that the production of the alliance of oil producers was less than production targets in March by 1.45 million barrels per day, with the beginning of a decline in Russia’s production after the sanctions imposed by the West. The …

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