Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 22 August 2022 10:56 pm

  Bitcoin, ether slide on rising Treasury yields

  

  Bitcoin and Ethereum have extended their declines from Friday’s drop in Monday morning trading, though recovering a bit from an even deeper slump seen earlier in the session.The bearish price action also came as U.S. Treasury yields rose slightly across the curve, with the 10-year (US10Y) up three basis points …

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• 22 August 2022 10:04 pm

  UK economy shrank record 11% in 2020, worst since 1709

  

  The United Kingdom recorded its biggest fall in output in more than 300 years in 2020 when it faced the brunt of the COVID-19 pandemic, as well as a larger decline than any other major economy, updated official figures showed on Monday.Gross domestic product fell by 11.0% in 2020, the …

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• 22 August 2022 9:14 pm

  Euro’s Parity Revisited As Dollar Surges

  

  The Euro is under pressure as Russia to halt gas supplies, while the Chinese Yuan dips to nearly 2-year low as PBOC eases policy again. The U.S. dollar rose across the board on Monday, briefly driving the euro back below parity, as investors shied away from riskier assets amid growing …

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• 22 August 2022 8:42 pm

  KSA Energy Minister: OPEC+ has means including cutting production

  

  Saudi Arabia’s energy minister said, on Monday, that OPEC+ has the means to deal with market challenges including cutting production at any time, in different forms.“Oil market has fallen into a self-perpetuating vicious circle of very thin liquidity, extreme volatility undermining market’s essential function of efficient price discovery,” the minister …

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• 22 August 2022 8:12 pm

  Europe’s crisis worsens on halting Russian gas

  

  Natural gas prices jumped up nearly 20% as Russia gets ready to shut down vital pipeline again. News of another expected shutdown for the crucial Nord Stream 1 natural gas pipeline sent the region’s prices soaring to start the week.September Title Transfer Facility (TTF) natural-gas futures in the Netherlands jumped …

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• 22 August 2022 7:30 pm

  Germany Staring In Critical Winter’s Face

  

  German chancellor visits Canada in pursuit of for alternatives to Russian natural gas. Chancellor Olaf Scholz plans to sign hydrogen supply chains deal as pressure mounts over looming winter crisis. The German chancellor describes his visit as an urgent mission to extract Germany from its dependence on Russian gas and …

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• 22 August 2022 5:49 pm

  Market Drivers – European Session 22/8/2022

  

  The People’s Bank of China lowered the one-year base loan rate by 5 basis points to 3.65% at the central bank’s monthly fix on Monday, while the five-year base loan rate was lowered by 15 basis points to 4.30%. This came on the heels of last week’s surprising decision to …

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• 22 August 2022 5:46 pm

  Ukrainian agricultural exports may rise to 4 million tons in August

  

  Ukraine’s agricultural exports are likely to rise to around 4 million tons in August from 3 million tons in July, thanks to a U.N.-brokered deal to lift the blockade of Ukrainian seaports, the deputy head of Ukraine’s agricultural council said on Monday. In televised comments, Denis Marchuk, whose council represents …

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• 22 August 2022 3:54 pm

  Turkey doubles Russian oil imports to fill shortages from Europe

  

  Refinitiv Eikon data showed Monday that Turkey had doubled its imports of Russian oil this year as the two countries prepare for broader cooperation in trade, especially in the energy sector, despite Western sanctions against Moscow. Trade between Turkey and Russia has been booming since the spring when Turkish companies …

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• 22 August 2022 2:41 pm

  Reuters: OPEC+ production fell 2.9 million b/d from the target level in July

  

  Two sources from OPEC+ said that the bloc’s production was 2.892 million barrels per day lower than its target levels in July, as sanctions imposed on some members and reduced investment by others hampered the group’s ability to increase production. The two sources said compliance with production targets reached 546 …

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• 22 August 2022 1:31 pm

  The dollar index rises to its highest level in five weeks

  

  The US dollar index hit a five-week high on Monday after another Federal Reserve official indicated that monetary tightening may remain strong ahead of the central bank’s Jackson Hole seminar this week. The euro fell to its lowest level in five weeks after Russia announced a three-day halt to European …

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• 22 August 2022 12:40 pm

  Gold falls to its lowest level in three weeks

  

  Gold prices fell for the sixth consecutive session on Monday, hitting their lowest level in more than three weeks, affected by the strength of the dollar and expectations that the Federal Reserve will raise interest rates to curb rising inflation. And the price of gold in spot transactions 0.1 percent …

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• 22 August 2022 12:00 pm

  Japanese stocks fall, tracking Wall Street losses

  

  Japanese stocks closed lower on Monday as technology heavyweights led the decline after Wall Street slumped amid rising bond yields at the end of last week. The Nikkei index fell 0.47 percent to 28,794.50 points, recouping some of its losses in early trading on the impact of China’s cut interest …

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