Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 18 May 2022 7:18 pm

  WTI crude retreats towards $110 on sentiment deterioration

  

  The American WTI crude oil has retreated back towards $110, with oil prices in downturn on deteriorated risk sentiment. But these dips proved attractive to potential buyers as lockdowns ease in China while Russian OPEC output is still negotiated.Updates about an easing of lockdown restrictions in China failed to hold …

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• 18 May 2022 5:00 pm

  US: Housing starts fell by 0.2% in April, Building Permits fell by 3.2%

  

  Housing Starts in the US fell 0.2% in April to 1.724M, below last month’s 1.728M and expectations for a rise to 1.765M. Building Permits, meanwhile, fell from 1.879M in March to 1.819M in April, a drop of 3.2%. That was above the expected drop to 1.812M. 

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• 18 May 2022 4:44 pm

  Canada: Annual CPI rises to 6.8% in April

  

  The pace of annual inflation in Canada according to the Consumer Price Index (CPI) rose to 6.8% in April, data released by Statistics Canada on Wednesday showed. That was slightly above expectations for a YoY rate of CPI to come in unchanged from March at 6.7% in April. MoM, prices …

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• 18 May 2022 4:25 pm

  Moscow: Possible tariffs on Russian oil will force buyers to pay more

  

  A US proposal to impose tariffs on Russian oil means buyers will have to pay more or look for alternative suppliers, Kremlin spokesman Dmitry Peskov said on Wednesday, May 18. And US Treasury Secretary Janet Yellen said on Tuesday, May 17, that the European Union could combine imposing tariffs on …

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• 18 May 2022 3:26 pm

  Gold is near its lowest level in 3 and a half months

  

  On Wednesday, gold prices settled near their lowest levels since late January, under pressure from the recovery of the dollar and the hawkish stance of the Federal Reserve Chairman on inflation. By 0831 GMT, gold recorded in spot transactions 1815.39 dollars an ounce. And US gold futures fell 0.2 percent …

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• 18 May 2022 2:21 pm

  The dollar rises after Powell confirms expectations of tightening monetary policy

  

  The dollar rose on Wednesday, a day after it suffered its biggest loss in more than two months after US Federal Reserve Chairman Jerome Powell emphasized tighter monetary policy as the US central bank sought to contain rising inflation. Powell pledged that the central bank would raise interest rates as …

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• 18 May 2022 1:31 pm

  Eurozone final inflation rises 0.6% MoM in April

  

  Eurozone inflation held steady at a record high 7.4% in April, driven by soaring fuel and food costs, the EU’s statistics agency said today, lowering its estimate from a preliminary 7.5%. Inflation has soared over the past year, first on post-Covid supply bottlenecks and latterly on knock-on effects from Russia’s …

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• 18 May 2022 12:41 pm

  Nikkei closes at a two-week high after retail sales data boosted Wall Street

  

  Japan’s Nikkei hit a two-week closing high on Wednesday and major tech stocks led the way after US stocks closed significantly higher overnight on strong retail sales data. The Nikkei index closed up 0.94 percent at 26,911.20 points, after briefly exceeding the 27,000 points level, its highest closing level since …

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• 18 May 2022 4:12 am

  Market Drivers – US Session – 17 May

  

  US stocks rose on Tuesday, as Citigroup led a surge in bank shares after Berkshire Hathaway revealed strong retail sales in April to ease some concerns about slowing US economic growth. Ten of the 11 major S&P sectors advanced, with financials and technology up 2% each.Economic DataUS retail sales increased …

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• 18 May 2022 3:55 am

  Crude Oil Falls 2% On Powell’s Comments, Prospected Supply

  

  After hitting seven-week highs, crude oil prices fell after Fed Chair Jerome Powell warned the US economy could be hurt by attempts to reduce inflation. Crude oil prices also retreated 2% on Tuesday as the United States decided to ease restrictions on Venezuela, the news has raised hopes that the …

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• 18 May 2022 2:35 am

  Will cryptocurrencies rebound after price crash?

  

  With cryptocurrencies, the future is and will remain uncertain. The one factor that stirs hope to crypto traders and investors is that big players are starting to join the trading game.On Wall Street, JPMorgan Chase, Morgan Stanley and Goldman Sachs are just some examples that employ dedicated cryptocurrency teams. In …

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• 18 May 2022 1:36 am

  Euro, bond yields surged on comments by ECB official

  

  The euro rallied on Tuesday, helped by a rise in government bond yields as well as comments from a European Central Bank policymaker in which he said a half percentage point interest rate hike is possible.Klaas Knot told a Dutch television program said he favors a quarter-point rate hike, but …

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• 18 May 2022 1:09 am

  US Dollar Further Declines As Sentiment Improves

  

  The US dollar edged lower across the board as the American currency extended the bearish corrective decline that began on Monday. Positive US data has helped the case for a better market sentiment, with global indexes closing in the green.The underlying concerns remain the same. Tensions between Europe and Russia …

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