Noor Trends News, Technical Analysis, Educational Tools and Recommendations
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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May, 2022
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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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9 May 2022 3:43 pm
The dollar climbs to highest level in two decades
The dollar rose to a 20-year high on Monday as a combination of rising US Treasury yields and closings in China boosted the dollar’s safe-haven appeal. Against a basket of major currencies, the dollar index exceeded 104.19 for the first time since July 2002, continuing its rise by nine percent …
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9 May 2022 1:54 pm
Nikkei falls, dragged down by US stocks
Japan’s Nikkei fell on Monday as US stock futures weakened and the prospect of an escalation of Russia’s offensive against Ukraine weighed on market sentiment. Fast Retailing, which operates Uniqlo stores, was among the biggest losers as China’s tightening of anti-Covid lockdowns worsened the country’s sales outlook. The Nikkei index …
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