Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 20 August 2022 3:12 am

  Demand Fears Cannot Keep WTI Price Below $90

  

  On Friday, WTI crude oil trades at $90.44 versus $90.11 on Thursday. Brent trades at $95.17 versus $90.75 on Thursday.Bearish sentiment dominated oil markets amid fears of demand destruction. Rumors on nuclear deal renewal are pushing crude prices down. Inventory draws in the US are pushing prices higher, but downward …

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• 20 August 2022 2:36 am

  Citi among stocks left out earnings rally

  

  Shares of GSK, Citigroup and Stellantis are now among those left undervalued even after the overall Wall Street’s earnings rally on robust results.The entire group of six is Stellantis, Volkswagen, Citigroup Inc, Evercore Inc, Energy Transfer LP and GSK PLC. Stocks have rallied more than 17% from bear-market lows part;y …

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• 20 August 2022 2:13 am

  USD gains highest since April 2020

  

  The US dollar gained 0.73% to 136.87 against the Japanese yen, the strongest since July 27. Sterling tumbled 1.03% to $1.1813 and had its biggest weekly drop against the dollar since September 2020.The US central bank needs to keep raising borrowing costs in order to tame high inflation, as clearly …

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• 20 August 2022 1:03 am

  Will Powell’s Jackson Hole speech impact gold next week?

  

  Gold is ending the trading week down more than $50 because the US dollar has strengthened to weigh, accordingly, on the precious metal ahead of the Jackson Hole economic symposium and Fed Chair Jerome Powell’s speech before the symposium. Next week’s significant catalyst will be Powell’s speech before the Jackson …

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• 19 August 2022 11:47 pm

  Will these cryptos bleed on massive profit taking?

  

  Previous rally has faded as whales tend to abandon the ship, this is why Dogecoin and Shiba Inu have experienced major price corrections at their top because of massive profit taking after prices peaked on Sunday and Tuesday. Shiba Inu currently trades at $0.00001358 versus $0.000014 on Thursday. Meanwhile Dogecoin …

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• 19 August 2022 11:02 pm

  Dow Jones slides, S&P 500 Heading to abandon 4-week gains

  

  Expect markets to reach new highs next year, says Ed YardeniThe S&P 500 fell 1.3%, while the Dow Jones Industrial Average slid 302 points, or 0.89%. The Nasdaq Composite slid 2%. US shares generally retreated on Friday as Wall Street’s summer rally looks hesitant versus rate hike fears. The dominating …

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• 19 August 2022 10:11 pm

  USD/CAD Expected To End Trading Week With Gains

  

  The USD/CAD pair opened at 1.29455 and is now trading at 1.2990; up by 0.35%. the asset is about the end the week with a gain of more than 200 pips. The Canadian dollar is still expected to sharply rise versus both NZD and AUD. Analysts even expect the USD/CAD …

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• 19 August 2022 9:31 pm

  Gloomy Economic Data Impacted European Stocks

  

  On Friday, European markets mostly fell after mixed trading in Asia and ahead of an expected lower US open. Traders have recognized that concerns about the cost of living as well as further recession-related fears are still elevated as investors digested relatively gloomy data.Data released Friday showed German producer prices …

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• 19 August 2022 8:58 pm

  Asset managers, banks alarmed after WhatsApp-related penalties

  

  Wall Street banks constitute the majority of companies involved in communications and record-keeping investigations conducted by the US Securities and Exchange Commission and the Commodity Futures Trading Commission.Banks have collectively been fined or have set aside more than $1 billion to cover regulatory penalties. This is why asset managers are …

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• 19 August 2022 8:14 pm

  Bitcoin slides down on Friday

  

  Bitcoin, the world’s largest cryptocurrency by market value, fell 8.3% against the dollar from its 5 p.m. ET level Thursday to trade at $21,480.50. at the time of writing, biutcoin is trading at $21,458. Ether declined 9% over the same period to $1,707.97.It was not immediately clear what knocked the …

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• 19 August 2022 7:18 pm

  Fed determined to return inflation to target

  

  Richmond Fed President Thomas Barkin reiterated on Friday that the Fed will do what it takes to return inflation target but acknowledged that this will not happen immediately. The US Dollar Index edged higher on these comments and was surging 0.45% on a daily basis at 107.97.“We are starting to …

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• 19 August 2022 4:46 pm

  Canada: Retail Sales rise by 1.1% in June

  

  Retail Sales in Canada rose by 1.1% on a monthly basis in June following May’s increase of 2.3% (revised from 2.2%), the data published by Statistics Canada revealed on Friday. This reading came in better than the market expectation for a growth of 0.3%. Further detail of the publication revealed …

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• 19 August 2022 4:08 pm

  Euro and Pound fell to their lowest level in a month

  

  The euro and the pound sterling fell to a one-month low against the US dollar on Friday, as investors worried about a further slowdown in global economic growth after US central bank officials reiterated the need to raise interest rates. The dollar index rose 0.2 percent to 107.69, after earlier …

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