Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2022

• 3 February 2022 9:12 am

  Market Drivers – US Session – 2 February

  

  The US trading session closed on Wednesday with mixed results, most notably the decline of the US dollar and the New York Stock Exchange at the same time due to negative employment data.Economic dataThe reading of the index of change in employment in the non-agricultural sectors in the United States …

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• 3 February 2022 12:59 am

  BoC’s Macklem: Uncertain About How Quickly Inflation Will Decline

  

  Bank of Canada Governor Tiff Macklem on Wednesday said that there is some uncertainty about how quickly inflation will come down due to the unique nature of the COVID-19 pandemic, which has helped drive up prices. However, Macklem added that the bank is confident that inflation will eventually come down, …

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• 3 February 2022 12:43 am

  US Dollar Retains Weak Stance Ahead Of BoE, ECB Meetings

  

  The American dollar kept falling on Wednesday to reach fresh weekly lows against its high-yielding rivals. The EUR/USD pair reached 1.1329 as the EU annual Consumer Price Index jumped to 5.1% in January, largely surpassing the 4.4% expected and above the 5% previous. The reading came one day ahead of …

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• 3 February 2022 12:17 am

  Oil Retreats Despite OPEC+ Decision, US Stockpile Draw

  

  Oil prices retreated on Wednesday even after OPEC+ stuck to planned moderate output increases despite pressure from top consumers to raise output more quickly after prices rallied to 2014 highs.Brent crude was down 7 cents to $89.09 a barrel at 12:15 p.m. EST (1715 GMT) while US West Texas Intermediate …

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• 2 February 2022 11:30 pm

  UK Finance Minister Gives Press Conference On Cost Of Living Crisis

  

  UK Chancellor of the Exchequer (Finance Minister) Rishi Sunak will hold a major press conference on Thursday amid souring UK energy costs. The UK energy regulator Ofgem will announce the new energy price cap for April on Thursday morning, UK time. Sunak is expected to announce new financial support measures …

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• 2 February 2022 11:01 pm

  EUR/USD hovers above 1.1300 as focus shifts to ECB meeting

  

  The EUR/USD pair has continued to trade well supported to the north territory of the 1.1300 level as the Euro remains positioned near the top of the daily G10 performance table, having been boosted by post-hot Eurozone inflation data hawkish ECB bets.While the pair had already broken above the key …

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• 2 February 2022 10:20 pm

  GBP/USD Bulls Stay On Course Ahead Of The BoE Decision, US NFP Data

  

  At 1.3570, GBP/USD is around 0.40% higher on the day as it tracks down the start of the New York sessions highs of 1.3587 again during midday trade. Sterling is climbing on Wednesday for the fourth session in a row, reaching a 1-1/2-week high against the dollar.Trader’s expectations that the …

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• 2 February 2022 9:41 pm

  Wall Street stocks waver as traders assess tech earnings

  

  Google owner Alphabet tops analysts’ forecasts but PayPal issues disappointing guidance. Alphabet followed fellow tech groups to post forecast-beating quarterly results.Wall Street stocks wavered on Wednesday as traders balanced strong earnings from Alphabet with downbeat guidance from fellow tech group PayPal, and a report indicated that US labour market conditions …

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• 2 February 2022 9:28 pm

  Canadian dollar yawns despite solid GDP

  

  The Canadian dollar is flat on Wednesday, trading at 1.2685 in the North American session though Canada’s GDP outperformed in November, but the positive news was not enough to move the sleepy Canadian dollar. GDP expanded by 0.6%, above the consensus of 0.4%. The growth was broad-based across the economy …

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• 2 February 2022 9:12 pm

  Gold Is Struggling Around $1809

  

  The non-yielding precious metal is trading above $1805. The US ADP data was worse than expected; it could be a prelude to the Nonfarm Payrolls (NFP).The Gold Index (XAU/USD) climbs in the North American session as US T-bond yields led by the 10-year benchmark note fall three basis points, undermining …

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• 2 February 2022 8:34 pm

  Giant Red Flag, US National Debt Data Push Economic Alarms

  

  The US national debt has crossed the $30 trillion mark for the first time amid pandemic-related government spending. This reading is the first time in history according to the Treasury Department.The federal government exceeded the troubling threshold following a wave of borrowing and spending during the COVID-19 pandemic.The national debt …

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• 2 February 2022 7:29 pm

  Sterling Still Buoyant On Eve Of BoE’s Policy Decision

  

  Only one day away from an awaited second successive BoE rate hike, the British pound has been trading on the front foot. The GBP/USD pair has recently surpassed its 21DMA at 1.3557 before running into resistance ahead of the 1.3600 level.At current levels in the 1.3560 territory, the pair trades …

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• 2 February 2022 7:11 pm

  How Does BoE Plan To Reverse QE?

  

  Under strong pressures to act against surging inflation, the Bank of England looks ready to explain how it will reduce the vast pile of British government bonds it has bought over the last decade in repeated attempts to stimulate the economy.Most economists polled by Reuters think the BoE will on …

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