Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 4 August 2022 12:52 pm

  European shares rise, supported by strong earnings results

  

  European shares rose on Thursday following strong results for several companies, while the focus is on the Bank of England, which is expected to raise interest rates by the most since 1995. The pan-European Stoxx 600 index rose 0.1 percent, following the path of Asian stocks, which rose 0.4 percent, …

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• 4 August 2022 12:04 pm

  Gold rises as US Treasury yields fall

  

  Gold prices rose on Thursday, supported by lower US Treasury yields, as cautious investors awaited the US non-farm payrolls report due this week for more clues on the Federal Reserve’s stance on raising interest rates. By 0628 GMT, spot gold rose 0.3 percent to $1,769.74 an ounce. US futures also …

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• 4 August 2022 11:16 am

  State media: Chinese military begins “strategic” exercises on Taiwan

  

  The People’s Republic of China decided to impose trade sanctions against Taiwan – as it had done against Australia – and targeted the island’s industrial sector, which enjoys political independence despite being a part of China. The General Administration of Customs of China suddenly announced the suspension of imports of …

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• 4 August 2022 3:03 am

  Market Drivers – US Session – Wednesday, August 3

  

  US indexes surged, capping the safe-haven dollar’s demand, partially helped by strong Q2 corporate earnings reports and encouraging local data.Commodity-linked currencies, on the other hand, benefited from Wall Street’s strength. AUD/USD trades around 0.6950 while USD/CAD is marginally lower at 1.2840.The EUR/USD pair trades around 1.0160, as tepid European data …

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• 4 August 2022 2:41 am

  What is important about Michael Saylor’s bet on Bitcoin?

  

  Michael Saylor’s bet on Bitcoin has failed and he lost. The MicroStrategy CEO, also one of the biggest bitcoin bull, has decided to step down. When cryptocurrency lending platform Celsius froze user accounts amid a drop in valuations, waves across the industry raised questions about what could happen to user …

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• 4 August 2022 1:20 am

  Fed’s Kashkari: 2023 rate cuts very unlikely

  

  Fed’s Neel Kashkari has said that the Fed moved too slowly in 2021 in tackling high inflation. He also added that US wages are climbing and there is a risk that this goes into a wage-driven inflation story and that the US central bank is laser-focused on getting inflation down.Kashkari …

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• 3 August 2022 11:56 pm

  BoE to decide biggest rate hike in 27 years

  

  On Thursday, the Bank of England is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995. This move would take borrowing costs to 1.75% as the central bank encounters rising inflation and would be the first half-point hike since it was made independent …

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• 3 August 2022 11:18 pm

  USD/CAD down amid higher risk appetite

  

  The USD/CAD pair is down on the day as risk appetite bounces on Wednesday. Meanwhile, Sino-US tensions are eyed by traders and investors who also focus on the hawkish comments by Fed speakers. Frictions after the highest-level US visit by Nancy Pelosi, to Taiwan in 25 years help support the …

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• 3 August 2022 10:12 pm

  GBP/USD retreats on risk-on ahead of BoE’s decision

  

  The GBP/USD pair falls for the second successive day, as sellers hold 1.2200, alongside a risk-on impulse. Broad US dollar strength keeps the American currency afloat against most G10 currencies.Fed officials hawkish comments boosted the dollar and constituted a headwind for the GBP/USD pair. The Bank of England (BoE) is …

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• 3 August 2022 9:23 pm

  Fed speakers reiterate more hawkish tone

  

  “We have a lot in the pipeline in tightening but yet to see that in data showing a slowing of the economy,” San Francisco Fed President Mary Daly said on Wednesday. Daly said that the Fed is nowhere near finished with the inflation fight. Also, James Bullard began yesterday by …

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• 3 August 2022 8:29 pm

  US shares jump on robust earnings, strong US data

  

  US stock indexes rose on Wednesday on strong results from PayPal and CVS Health, with investors awaiting services activity data for clues on the health of the economy struggling with soaring inflation and tightening financial conditions.Shares of PayPal Holdings jumped 11.6% after the fintech company raised its annual profit guidance …

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• 3 August 2022 7:49 pm

  Moderna’s earnings rise above expectations

  

  Moderna’s Q2 results have beaten Wall Street’s quarterly earnings and revenue expectations. The Boston-based company generated $4.7 billion in sales for the quarter, a 9% increase over the same period last year.The biotech company’s costs rose to $1.4 billion, or 30% of the revenue generated from its vaccine. Moderna also …

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• 3 August 2022 7:02 pm

  ISM Services PMI rises to 56.7 in July above 53.5 expected

  

  The business activity in the US service sector expanded at a more robust pace in July than in June with the ISM Services PMI rising to 56.7 from 55.3. This reading came in better than the market expectation of 53.5.Further details of the publication revealed that the Prices Paid Index …

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