Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 6 May 2022 12:20 pm

  European stocks are heading for the biggest weekly losses in two months

  

  European shares fell on Friday, heading for their worst week in two months, after a sharp fall in Wall Street as investors feared a bigger interest rate hike would be needed to curb high inflation. The pan-European STOXX 600 index was down 0.6 percent by 0709 GMT, with the travel, …

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• 6 May 2022 2:13 am

  Market Drivers – US Session – Thurs. 5 May

  

  The US will release its April employment figures on Friday, May 6. The NFP report is expected to show that the economy added 391K new jobs, below the previous 431K but still a good figure. The unemployment rate is expected to have contracted to 3.5% from 3.6% in the previous …

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• 6 May 2022 1:54 am

  Bitcoin Slides, Optimism Evaporates On Fed’s Decision

  

  Cryptocurrency prices slid Thursday afternoon along with major stock market indexes. Cryptocurrencies have traded more in line with other risk assets, like growth and tech stocks.Bitcoin fell to $36,431.57, down 8.4% from Wednesday, according to Dow Jones Market Data. Ethereum fell 6.4% to $2,754.37. The most famous crypto asset tumbled …

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• 6 May 2022 12:39 am

  Europe’s endeavors to replace Russian gas faces obstacles

  

  Russian natural-gas supplies have increasingly become a tool of pressure in the conflict between Moscow and Europe over Ukraine while Europe still relies on Russia for 40 percent of the gas that warms and lights its homes and businesses.The confrontation Russo-European conflict has also ignited a stubborn challenge for the …

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• 5 May 2022 11:49 pm

  US productivity records biggest decline since 1947 in Q1

  

  US worker productivity fell at its steepest pace since 1947 in the first quarter, while growth in unit labour costs accelerated, indicating that rising wage pressures will continue contributing to keeping inflation elevated for a while. Nonfarm productivity, which measures hourly output per worker, plunged at a 7.5% annualized rate …

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• 5 May 2022 10:45 pm

  Gold’s destiny in x USD bulls’ hands, NFP data

  

  At $1,875, the gold price has been pressured and is trading not far from the lows of the day down at $1,872.54, losing some 0.34%. Gold fell from a high of $1,909.82 as the US dollar rebounded on Thursday, moving in on the 20-year highs reached last week, as per …

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• 5 May 2022 10:16 pm

  What Could Assets Expect From Friday’s NFP Data?

  

  A few hours after the NFP release on Friday, gold investors could look to book profits toward the London fix, causing important assets, such as gold, to reverse direction after the initial reaction. Moreover, FOMC policymakers have clarified that they will focus on taming hot inflation, so they seem not …

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• 5 May 2022 10:07 pm

  GBP/USD retreats post-BoE’s rate hike, recession concerns

  

  The British sterling retreated on Thursday after the Bank of England hiked 25-bps interest rates in a 6-3 split decision. However, the UK central bank’s projections of a probable UK recession in 2023 shifted sentiment negatively, spurring a 280-pip drop from near weekly highs from 1.2630s to below 1.2350. At …

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• 5 May 2022 8:43 pm

  Shopify stock down 17% after earnings miss

  

  Shopify posted adjusted earnings of 20 cents per share, while Wall Street had expected 63 cents per share, according to a Refinitiv survey of analysts. Revenue grew 22% year over year to $1.2 billion, but that still fell short of Wall Street’s projected $1.24 billion.Shares of Shopify plunged more than …

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• 5 May 2022 8:29 pm

  USD/JPY Surges As US Yields Jump

  

  The USD/JPY pair rose further climbing above the level it had before the FOMC meeting. It is testing the weekly high near 130.40 after rising from than 150 pips from the daily lows boosted by higher US yields.The selloff in Treasuries resumed after a two-day pause and the day after …

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• 5 May 2022 8:13 pm

  Gold Retreats On Risk Aversion

  

  Gold has extended its losses below solid resistance around $1890. The Gold Index is recording losses during the North American session, retreating from daily highs around $1909.66, amid a risk-off market sentiment.Two central banks expressed worries about China, while the Bank of England foresees a GDP contraction on 2023 for …

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• 5 May 2022 7:30 pm

  Rehn suggests ECB’s hike in July

  

  Olli Rehn, one of the European Central Bank’s officials spoke out in favor of an interest-rate increase in July, suggesting a growing shift on the Governing Council toward such a move. The governor of the Finnish central bank is one of more dovish policy makers and member of the ECB’s …

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• 5 May 2022 7:18 pm

  WTI Crude Trades Above $110

  

  Oil prices rallied for a second straight session on Thursday, with front-month WTI futures briefly hitting their highest levels in more than one month above the $110 per barrel mark before more recently pulling back closer to $109.00. The WTI crude oil rallied above $110 to hit its highest levels …

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