Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2022

• 17 January 2022 2:15 pm

  Saudi Energy Minister: It’s U.S. Prerogative to Draw on Strategic Oil Reserves

  

  Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday it was up to the United States whether or not to withdraw more supplies from its strategic oil reserves. The administration of US President Joe Biden said in November that it would withdraw about 50 million barrels from its reserves …

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• 17 January 2022 1:30 pm

  China’s Economy Grows 8.1% in 2021, Exceeding The Government Target

  

  Official data showed today, Monday, that China’s economy achieved stable growth in 2021 despite challenges, including the re-spread of the epidemic and the complex external environment. According to the National Statistics Authority, China’s gross domestic product rose 8.1 percent year on year to 114.37 trillion yuan (about 18 trillion US …

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• 17 January 2022 12:20 pm

  Oil Rises on Supply Fears And Limited Impact on Omicron

  

  Oil prices rose on Monday, with Brent futures reaching their highest levels in more than three years, as investors bet that supplies will remain limited due to pressures on production from major producers, while global demand was not affected by the spread of the new mutant Omicron from the Coronavirus. …

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• 17 January 2022 11:25 am

  The People’s Bank of China sets the yuan at 6.3599 dollars

  

  The People’s Bank of China set the exchange rate of the yuan against the US dollar at 6.3599 yuan per dollar, at the same time, expectations were for the Chinese yuan to stabilize against the dollar at 6.3604 yuan per dollar, and the previous value of the yuan was 6.3677 …

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• 17 January 2022 10:18 am

  Japan PM: Coronavirus Response is Government’s Highest Priority

  

  Japanese Prime Minister Fumio Kishida said on Monday that the coronavirus response is the government’s highest priority, as reported by Reuters. “Serious shortage of hospital beds needs to be avoided at all cost,” Kishida added and noted that they will bring forward COVID-19 vaccination booster shots for the elderly and …

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• 17 January 2022 1:29 am

  Weekly Recap 10-14 January

  

  Sometimes, rumours take part in shaping the market’s overall mood even partially, though such rumours have no relation to reality. Something of this kind seems to have happened last week. The EUR/USD pair has been in a sideways trend since November, fluctuating in the range of 1.1220 – 1.1385.   …

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• 15 January 2022 3:06 am

  Market Drivers – US Session – 14 January

  

  US stocks ended mixed on Friday at the end of a volatile week, with investors and traders busy digesting a mixed set of bank earnings and a bigger-than-expected drop in U.S. retail sales. The S&P 500 and Nasdaq closed at the highs of the trading day. The Nasdaq fluctuated between …

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• 15 January 2022 1:27 am

  US Retail Spending, Manufacturing Collectively Drop As Omicron, Inflation Surge

  

  Retail sales dropped 1.9% in December, a big slowdown at the holiday season’s end; manufacturing output fell for first time since SeptemberIn a confirmation hearing for his second term as Federal Reserve chairman, Jerome Powell said the central bank would use its tools to tamp down inflation. US retail spending …

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• 15 January 2022 12:47 am

  US Shares Exhibits Choppy Performance As Tech Outperforms Value

  

  Friday’s session exhibited mixed performance. It has been a choppy day for US equity markets, with tech and growth stocks doing better while value did worse.Nasdaq 100 outperformed, gaining 0.5%, whilst the Dow underperformed, shedding 0.7%. It was a choppy and mixed session in US equity markets, marked more by …

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• 14 January 2022 11:58 pm

  Gold Reacts To Higher US Bond Yields

  

  Gold retreats for the second straight day as worse than expected US economic data dominated news headlines; US retail sales dropped the most in 10-months and the US 10-year T-bond yield hits 1.771%, weighing on the non-yielding metal.The precious metal slips for the second-consecutive day amid dismal US economic data …

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• 14 January 2022 11:07 pm

  Baker Hughes Reports Most Oil, Gas rigs Since April

  

  US energy drillers this week added the most oil and natural gas rigs in a week since April as rising oil prices prompt more drillers to return to the well-pads.The oil and gas rig count, an early indicator of future output, rose 13 to 601 in the week to Jan. …

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• 14 January 2022 10:39 pm

  US Consumer Sentiment Drops in January 2022

  

  Consumer Sentiment has recorded the second-lowest reading in a decade. The University of Michigan Consumer Sentiment Index has recorded a dip of 2.5% in early January 2022 from its level in December 2021, according to preliminary results released Friday.The MCSI now stands at its second-lowest level in a decade, the …

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• 14 January 2022 10:08 pm

  WTI Driven By Geopolitical Tension To Test Fresh Highs

  

  WTI crude oil is trading now at $81.73 per barrel after latest high recorded Friday at $83.14 per barrel. The benchmark American oil is probing its best levels since early November in the $73.00 as geopolitical tensions rise. Analysts as well as banks have been calling this week for WTI …

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