Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 18 May 2022 12:02 am

  ECB’s Lagarde allows chief central bankers louder voice on policy

  

  ECB President Christine Lagarde has allowed national central bank chiefs a bigger say in policy meetings, asking her board members to speak less and set aside more time for debate.Lagarde has told chief economist Philip Lane and board member Isabel Schnabel to limit their presentations and leave more space for …

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• 17 May 2022 11:40 pm

  Gold Price Reacts to Powell’s hawkish comments

  

  Gold goes offered on a hawkish Powell as the US dollar rallies. The US dollar has popped out of a 15-min wedge formation to the upside. The US Dollar Index was down 0.82% at 103.33, a touch away from the low of 103.226 ahead of the Powell event. On hawkish …

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• 17 May 2022 11:29 pm

  Risk assets return into positive territories on Powell’s Comments

  

  Federal Reserve Chair Jerome Powell said on Tuesday that US central bank officials will keep tightening policy until inflation comes down in “a convincing way.”“There have been some promising signs you can point to,” Powell said at a Wall Street Journal conference. But, he added, “There are some signs that …

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• 17 May 2022 10:34 pm

  Fed’s Powell: ‘Keep tightening’ policy until inflation declines

  

  The US dollar is crumbling, this week as investors survey the landscape of the global economy, not just in the US. The dollar has fallen victim to improved risk sentiment, helping the likes of the euro that has been extending its rebound from a five-year low touched last week, and …

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• 17 May 2022 9:36 pm

  Euro Benefits From Risk Appetite Ahead of Powell’s Speech

  

  The euro is higher versus the US dollar by 1.13% rallying on wider risk-on from 1.0428 to a high of 1.0555. The euro has extended the rebound from a five-year low touched last week while the US dollar is down against its major trading partners.The euro benefited at the start …

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• 17 May 2022 8:37 pm

  Wells Fargo: US strong production still encouraging

  

  Data released on Tuesday showed Industrial Production rose 1.1% in April. Analysts at Wells Fargo point out that US factories, mines and energy producers together called more capacity into service than at any other time since the start of the pandemic. They warn supply chains are not fixed and could …

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• 17 May 2022 7:57 pm

  US Retail Sales Rise Despite Inflation, Dipping Consumer Confidence

  

  Despite rising interest rates, high inflation and product shortages, retail sales rose above expectations in April and upward revisions to the prior month suggests a better first quarter for consumer spending than first reported, explained analysts at Wells Fargo. Key Quotes: “The main takeaway is that despite all the obvious …

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• 17 May 2022 7:09 pm

  USD/CAD rebounds as the US dollar stabilizes

  

  The USD/CAD bounced to the upside and eared losses on Tuesday after the greenback gained momentum during the American session. The pair printed a fresh daily high at 1.2854 and it is hovering around 1.2845. Earlier on Tuesday it bottomed at 1.2805, the lowest level since May 5.Economic data from …

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• 17 May 2022 4:17 pm

  Oil rises, supported by EU efforts to ban Russian crude, hopes for demand

  

  Oil prices rose to a seven-week high on Tuesday, buoyed by continued pressure from the European Union to ban Russian crude imports that would reduce supply, and as investors focused on increasing demand after the easing of Chinese coronavirus lockdowns. On Monday, EU foreign ministers failed in their efforts to …

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• 17 May 2022 2:20 pm

  Euro area GDP grows at an annualized rate of 5.1% in Q1

  

  The data published by Eurostat showed on Tuesday that the seasonally adjusted Gross Domestic Product grew at an annualized rate of 5.1% in the first quarter, compared to the market expectation of 5%.On a quarterly basis, GDP increased by 0.3%. Finally, the Employment Change was up 0.5% in the first …

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• 17 May 2022 1:58 pm

  Russian oil production declines by 9% in April

  

  An internal report seen by Reuters showed today, Tuesday, that Russian crude oil production fell by about 9% to 9.16 million barrels per day, based on assessments of sources from OPEC +. The report stated that the commitment of members of the OPEC + group to production cuts rose to …

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• 17 May 2022 1:28 pm

  European shares rise on optimism about easing China’s Covid lockdown

  

  European shares rose on Tuesday and were set to extend their gains for the third consecutive session, supported by hopes of continued demand from China as authorities look to ease COVID-19 restrictions. The Stoxx 600 index rose 0.7 percent by 0710 GMT, with gains for all major sub-sectors, led by …

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• 17 May 2022 12:38 pm

  Japan’s Nikkei rises for a third day on optimism about China

  

  Japan’s Nikkei index closed higher for the third consecutive session on Tuesday, as optimism over the end of the lockdown imposed to combat COVID-19 in China, Japan’s main trading partner, outweighed the disappointing financial results. The Nikkei index witnessed volatile trading, before closing up 0.42 percent at 26,659.75 points, after …

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