Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 10 May 2022 2:23 am

  Hungary’s Orban Stalls EU Oil Embargo On Russia

  

  EU Commission chief von der Leyen’s plan to travel to see Hungary’s Orban yielded no breakthrough. The president of the European Commission has wanted Hungary to agree to stop importing Russian oil, but eventually failed to reach agreement with Hungary on Monday to secure the country’s backing for an oil …

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• 10 May 2022 2:07 am

  Gold bounces nearer $1,850 as investors await US inflation

  

  The Gold Price Index has witnessed a minor bounce after slipping near the previous week’s low at $1,850.47. A minor receptive buying has been observed but value buying can drive the precious metal higher. The bright metal has displayed a sheer downside on Monday amid broader strength in the US …

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• 10 May 2022 1:46 am

  Growth Concerns, Strong USD Drive Investors Away From Metals

  

  A week that saw a continued deterioration in the global growth outlook driven by extended China lockdowns, a stronger dollar and increasingly aggressive rate hike signals from members of the US Fed. The week highlighted how traders positioned themselves ahead of last Wednesday’s FOMC meeting. During the week US ten-year …

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• 10 May 2022 1:15 am

  USD/CAD Touches Lowest Level Since Nov 2020

  

  The USD/CAD pair is ending on North America session in the green territory by 0.8% following a final thrust to the upside in the US dollar. This development has taken the Canadian dollar to its lowest level since November 2020 amid rising concerns about the global economy and fears of …

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• 10 May 2022 12:21 am

  Fed survey: Inflation for consumers retreats from record high

  

  Consumers grew a little bit more optimistic about inflation in April, though they still expect to be spending considerably more in the year ahead, a Federal Reserve survey released Monday shows. Inflation expectations over the next year fell to a median 6.3%, a 0.3 percentage-point decrease from the record high …

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• 9 May 2022 11:38 pm

  Gold’s large selling program could be imminent

  

  The price of gold has remained in the hands of the bears as the US dollar surged to print a new 20-year high at the start of the week. The negative market sentiment stems from the risks associated with China’s COVID crisis, the Ukraine crisis, supply chain risks and what …

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• 9 May 2022 11:01 pm

  USD/CHF Gains, But Fell Short Of Parity At Around 0.9960s

  

  The USD/CHF pair retreated from YTD highs around 0.9960s as traders got ready to launch an assault toward the parity, but the negative market sentiment and USD traders booking profits were the main reason that kept the USD/CHF around the 0.9900 mark. At the time of writing, the USD/CHF is …

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• 9 May 2022 9:58 pm

  Fed’s Bostic: 75 bps rate hike is low probability

  

  Federal Reserve Raphael Bostic commented on the US monetary policy with important insight for traders and market participants in the US and has stated that a 75 bp rate hike is not his baseline target although he is not taking anything off the table. The US dollar was higher on …

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• 9 May 2022 9:42 pm

  Cash Mighty King Across Markets As Investors Sell Assets

  

  Equity index futures are pointing to a much lower open as the S&P 500 futures are finally breaking below March lows after falling 1.9% before the open and trading below the 4,100 level. Once again, the downward pressure appears to be coming from tech stocks because Nasdaq futures were down …

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• 9 May 2022 9:03 pm

  GBP/USD recovers from three days of losses, ahead of US Retail Sales, CPI

  

  The British sterling recovered some ground despite the prevalent risk-off environment across the financial markets, while the US dollar reached a 20-year high around 104.187 as market players flew towards safe-haven peers. At the time of writing, the GBP/USD is trading at 1.2373.The GBP/USD pair has traded at a new …

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• 9 May 2022 8:31 pm

  US Dollar Gives Away Part of Earlier Momentum

  

  The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main competitors, gives away part of the earlier spike above the 104.00 mark on Monday.Now, the index is gaining 0.21% at 103.87 and the breakout of 104.18 (2022 high May 9) would open the door to …

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• 9 May 2022 7:59 pm

  NZD/USD set to move back to 0.70 by early 2023

  

  The New Zealand dollar has been the worst-performing G10 currency in the past month. However, economists at ING expect NZD/USD to climb back toward 0.70 by early 2023 as the Reserve Bank of New Zealand (RBNZ) is set to deliver 200bp of additional tightening by year-end.Key Quotes“The impact of lockdowns …

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• 9 May 2022 7:25 pm

  BoE’s Saunders Uncomfortable with UK inflation expectations

  

  Bank of England external Monetary Policy Committee member Michael Saunders said on Monday that he is uncomfortable with where inflation expectations currently are and that interest rates below 1.0% are clearly below the neutral rate in the UK.Interest rates in the UK might need to go above neutral if inflation …

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