Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2022

• 2 February 2022 3:20 am

  Market Drivers – US Session – 1 February

  

  The US dollar remained on the backfoot on Tuesday, although losses were limited across the Forex board. The EUR/USD pair is ending the day pretty much unchanged in the 1.1240/50 area after dismal EU data put a cap to the shared currency.The GBP/USD shrugged off UK’s political row and retained …

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• 2 February 2022 2:07 am

  NZ Unemployment Rate Falls As NZD Impacted By Other Disappointment

  

  The key quarterly labour market data roundup for New Zealand has been released as unemployment rate fell to 3.2 per cent in the fourth quarter, according to data released by Statistics New Zealand on Wednesday. While this beat expectation, it’s not moved the needle on the NZD because the rest …

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• 2 February 2022 1:49 am

  US Labour Shortage Persists As Job Openings Ticked Up In December

  

  US job openings gained to 10.9 million in December, according to JOLTS data published Tuesday above forecast of 10.3 million openings. Some 4.3 million Americans quit, down from November’s record high but still exceeding the pre-crisis average.Openings rose the most in the accommodation and food services sector, with businesses listing …

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• 2 February 2022 12:44 am

  Bullard: Will Fed have to become more restrictive?

  

  St Louis Fed President James Bullard on Tuesday said that he thinks it an open question whether the Fed will have to become more restrictive (i.e. raise rates above the “neutral” 2.0%-2.5% zone). Additional Quotes:“We will be able to assess our position in a few months’ time.”“I think it’s premature …

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• 1 February 2022 11:43 pm

  Wall Street Digest Earnings, Major Economic Data This Week

  

  The latest trend in day-to-day stock market index trading looks to be the Nasdaq filling deep holes dug in the previous month while the Dow and S&P 500 basically tread water. Certainly, this is what’s happening this morning: The Dow is -3 points and the S&P 500 -2, while the …

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• 1 February 2022 10:04 pm

  Gold Loses Momentum After Being Unable To Break $1810

  

  The US dollar stabilizes during the American session, as the DXY trims losses. The XAU/USD fails to breaks $1810, remains above $1800.Gold peaked on European hours at $1809 and then lost strength. It pulled back following the release of US economic data to $1797 and then rose back above $1800. …

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• 1 February 2022 8:32 pm

  WTI Close To Fresh Highs Despite Looming OPEC+ Decision

  

  Oil prices have continued to trade close to multi-year highs and within recently established ranges on Tuesday, with front-month WTI futures undulating between lows in the $86.00s and highs in the $88.00s. At current levels just above $88.00 per barrel, WTI is trading flat on the day and is less …

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• 1 February 2022 8:25 pm

  Fed’s Bostic: Higher Inflation Poses Real Risk

  

  Atlanta Fed President Raphael Bostic said on Tuesday that there is a “real danger” of inflation expectations drifting from the Fed’s 2.0% target to 4% or higher. If current levels of Fed support are left in place, he added, it could fuel more inflation and thus warrant action “soon” to …

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• 1 February 2022 7:52 pm

  More Insight On Tuesday’s ISM Data

  

  US manufacturing sector slowed in January; but employment surged. A measure of US manufacturing activity fell to a 14-month low in January amid an outbreak of COVID-19 infections, supporting views that economic growth lost steam at the start of the year.The Institute for Supply Management (ISM) said on Tuesday that …

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• 1 February 2022 7:41 pm

  US ‘ISM Manufacturing PMI’ falls in January below expectations

  

  ISM Manufacturing PMI fell to its weakest since November 2020 in January at 57.6. The Employment subindex hit its highest since last March. According to a survey compiled by the Institute of Supply Management, US Manufacturing PMI fell to 57.6 in January from 58.7 in December. That was a little …

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• 1 February 2022 7:09 pm

  US Dollar Index Depressed Ahead Of ISM Data

  

  The DXY Index has remained on the defensive territory in the low-96.00s as US bond yields remain largely range bound on Tuesday.Sellers are still in control of the sentiment around the US dollar and drag the American currency’s Index (DXY) to new 4-day lows in the 96.25/20 band.The US dollar …

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• 1 February 2022 5:57 pm

  Market Drivers – European Session 1-2-2022

  

  There were no strong market drivers during the European session. Gold prices rose on Tuesday above the key $1800 level, with increased investment demand, further supported by a weak dollar and falling Treasury yields. By 1323 GMT, the price of gold in spot transactions rose 0.5% to $1,805.43 an ounce. …

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• 1 February 2022 4:23 pm

  US Stock Index Futures Contrast With The Dollar’s Decline

  

  The futures prices of US stock indices witnessed a noticeable divergence today, with stock market volatility driven by the technology sector. This came at the same time that the US dollar index was declining, as it now reached nearly 96.345 points, with a decrease of 0.30%. Futures contracts for US …

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