Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 18 August 2022 10:51 pm

  Fed’s Bullard Favours 0.75 Percentage Point Rate Hike In September

  

  St. Louis Fed Governor, James Bullard said, on Thursday, that he is not prepared to assume that inflation surge has peaked in the United States.Markets have generally surged as investors price in a soft landing for the US economy and the end of peak inflation. But once the US dollar …

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• 18 August 2022 10:22 pm

  Turkish Interest-Rate Cut Quakes Investors

  

  The Turkish lira fell Thursday, after a surprise interest-rate cut has been decided by the country’s central bank. Similarly; Turkey’s bonds were subject to broad selloff, and investors now react by moving price in a higher risk of sovereign default, after the country’s central bank unexpectedly had decided cut interest …

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• 18 August 2022 9:18 pm

  EUR/USD Retreats To Three-week Lows On Stronger Dollar

  

  The EUR/USD pair is under pressure. The EUR/USD pair sharply dropped during the US session and is obviously facing increasing bearish pressure near a critical support at 1.0110. A break below 1.0100 would bring about parity.On Thursday, the pair touched the 1.0107 level which is, in fact, the lowest level …

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• 18 August 2022 8:24 pm

  FOMC minutes weigh on risk appetite

  

  Emerging market stocks and currencies fell on Thursday on the signals by Wednesday’s FOMC Minutes. The minutes obviously signaled further US interest rate hikes. MSCI’s index of emerging market stocks retreated 0.6%, set for their worst session in two weeks, while its currencies counterpart MIEM00000CUS was on course for its …

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• 18 August 2022 7:46 pm

  OPEC’s Top Official: Relatively optimistic on oil outlook for 2023

  

  OPEC’s new secretary general Haitham al-Ghais said on Thursday that he was relatively optimistic on the oil market outlook for 2023 and added that the world was dealing with economic pressures of inflation in a very good way.“I want to be very clear about it – we could cut production …

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• 18 August 2022 7:03 pm

  US Existing Home Sales Decline In July

  

  This morning’s release of the July Existing-Home Sales has showed that sales fell to a seasonally adjusted annual rate of 4.81 million units from the previous month’s 5.11 million. Expectations mentioned 4.89 million. The latest number represents a 5.9% decrease from the previous month and a 20.2% decrease YoY.The National …

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• 18 August 2022 5:49 pm

  The dollar maintains its gains as Fed continues its battle with inflation

  

  The dollar touched its highest level in three weeks on Thursday after the release of the minutes of the Federal Reserve’s meeting for the month of July, which indicated the continuation of raising US interest rates for a longer period to reduce inflation. The dollar’s rally caused sterling to briefly …

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• 18 August 2022 4:03 pm

  Turkey’s central bank cuts interest rate to 13%

  

  Contrary to expectations, the Turkish Central Bank decided on Thursday, August 18, to cut the interest rate on the lira during the week (Repo) to 13% from 14%, even though the inflation rate in the country is close to 80%. Over the past seven months, the Turkish Central Bank has …

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• 18 August 2022 3:24 pm

  Oil rises, supported by US inventories data and expectations of a decrease in supply

  

  Oil prices rose on Thursday as strong data on US fuel consumption and an expected decline in Russian supplies late in the year offset fears of an imminent recession that could dampen demand. Brent crude futures rose $1.43, or 1.5 percent, to $95.08 a barrel by 0900 GMT. US crude …

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• 18 August 2022 2:39 pm

  Gold rises as bond yields fall and the dollar’s rise limits gains

  

  Gold prices rose on Thursday as bond yields declined, but the dollar’s rally and expectations that the US Federal Reserve will continue to raise interest rates kept prices near two-week lows. And gold in the spot contracts rose 0.3 percent to $ 1765.80 an ounce, at 0920 GMT, after a …

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• 18 August 2022 1:57 pm

  European shares slip ahead of inflation data

  

  European shares fell in choppy trading on Thursday after a member of the European Central Bank’s board of directors hinted at another big interest rate hike next month even as recession risks intensified, with inflation data for July due later on Thursday awaiting. The pan-European Stoxx 600 index fell 0.1 …

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• 18 August 2022 12:59 pm

  Russia expects energy export revenue to rise to $337.5 billion this year

  

  A document from the Russian Economy Ministry, seen by Reuters, showed that rising oil export volumes, accompanied by rising gas prices, will boost Russia’s revenue from energy exports to $337.5 billion this year, an increase of 38% from 2021. This jump in revenue, if realized, would help bolster Russia’s economy …

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• 18 August 2022 12:00 pm

  Japanese shares track Wall Street losses after Fed meet minutes

  

  Japanese stocks fell in tandem with their Asian counterparts on Thursday as investors analyzed the Federal Reserve meeting minutes, awaiting an upcoming seminar to assess whether the US central bank will ease its tight monetary policy. The Japanese Nikkei index fell 0.91 percent at the open and hovered at this …

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