Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 31 August 2022 11:14 pm

  GBP/USD pressured on Stronger USD

  

  The GBP/USD pair is bleeding on Wednesday following a brief recovery versus the stronger dollar. At the time of writing, GBP/USD is trading at 1.1609 and is recording a 0.4% loss on the day.The sterling pierced the psychological 1.16 round level and faces its worst month since late 2016 against …

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• 31 August 2022 10:35 pm

  EUR/USD’s Parity Shifts Attention To Natural Gas

  

  The Euro bids farewell to previous months’ heavy losses. The shared European currency tends to be stabilizing against the US dollar. The EUR/USD hovers around 1.0057 after reaching new week highs.On Monday and Tuesday; however, the EUR/USD pair reclaimed parity and is hesitantly moving towards key resistance level. The Euro, …

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• 31 August 2022 9:26 pm

  Can Wall Street Avoid Fourth Day Of Losses?

  

  US stocks are generally struggling to put an end to the three-day losses. Traders and investors are still busy digest monetary policy signals and comments by the Fed speaks.Any economic downturn would give the Fed reason to ease up its rate hiking stance. Stocks have been subject to heavy selloff …

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• 31 August 2022 8:38 pm

  Gold rebounds as T-yields hold downtrend

  

  Gold prices modestly retreated on Wednesday. During the US session, the Gold Index rebounded from the one-month low at $1,709 and rose to $1,723. The precious metal is hovering around $1,720 and trades at $1718.40 per ounce at the time of writingUS treasury yields fell on Wednesday. Following the August …

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• 31 August 2022 7:48 pm

  Renewed Demand Concerns Still Dragging Oil Lower

  

  WTI crude oil price is down for the second successive day. At the time of writing, the American crude is trading between $90.35 and $90.45 per barrel.Earlier on the day, crude price probed below $90 per barrel. Observers and economists cite pressures by accelerating concerns about the global economy’s slowdown, …

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• 31 August 2022 7:10 pm

  US Private Payrolls Grew Below Expectation in August

  

  Private sector companies added only 132,000 jobs in August. The latest ADP reading, released on Wednesday, indicates a slower pace of hiring after months of robust strong growth in the labour market. August’s reading is far below market expectations standing at 225,000 jobs. There is a shaded zone on the …

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• 31 August 2022 6:15 pm

  Market Drivers – European Session 31/8/2022

  

  The euro slipped back below par against the dollar on Wednesday. They extended its decline for the third consecutive month as the deepening energy crisis fuels recession fears, while the European Central Bank pushes ahead with interest rate hikes. Russia on Wednesday halted gas supplies from the Nord Stream 1 …

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• 31 August 2022 4:38 pm

  The euro fell against the dollar on fears of recession and rate hike

  

  The euro slipped back below par against the dollar on Wednesday. They extended its decline for the third consecutive month as the deepening energy crisis fuels recession fears, while the European Central Bank pushes ahead with interest rate hikes. Russia on Wednesday halted gas supplies from the Nord Stream 1 …

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• 31 August 2022 3:19 pm

  Eurozone Preliminary Inflation rises 9.1% YoY in August

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) rose by 9.1% in August vs. July’s 8.9%, the latest data published by Eurostat showed on Wednesday. The market forecast was for a 9.0% print. The core figures jumped to 4.3% YoY in August when compared to 4.1% expectations and 4.0% …

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• 31 August 2022 2:19 pm

  Oil falls 3% on recession fears

  

  Oil prices continued their decline on Wednesday as investors worried about the weakness of the global economy and the possibility that central banks will raise interest rates and increase restrictions to curb the outbreak of COVID-19 in China. US West Texas Intermediate crude contracts fell $2.58, or 2.82 percent, to …

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• 31 August 2022 1:22 pm

  Gold falls for the fifth month as investors await rate hike

  

  Gold prices fell on Wednesday for the fifth consecutive month as strong US economic data and comments from the Federal Reserve about monetary tightening indicated further interest rate hikes, reducing the attractiveness of the non-yielding yellow metal. Spot gold prices fell 0.1 percent to $1,721.59 an ounce by 0735 GMT, …

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• 31 August 2022 12:45 pm

  European stocks rebounded before the release of inflation data

  

  European shares rose on Wednesday, boosted by the strong performance of technology shares after a three-day sell-off, with inflation data in the region due for release during the session. The pan-European Stoxx 600 index rose 0.4% by 0716 GMT after three consecutive days of losses, but the index is heading …

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• 31 August 2022 12:03 pm

  Japan stocks fall following Wall Street

  

  Japanese stocks gained for the second consecutive month on Wednesday, even as the two major indexes closed lower on Wednesday, weighed down by losses from technology and energy blue-chip companies and Wall Street’s decline. The Nikkei index fell 0.37 percent to 28,091.53 points, while the broader Topix index fell 0.27 …

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