Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2022

• 5 February 2022 12:22 am

  US Oil-Drilling Rig Count Up For Second Straight Week

  

  Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by two to 497 this week. That followed a climb of four oil rigs the week before, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural …

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• 4 February 2022 11:21 pm

  EUR/USD’s Bullish Momentum Interrupted By Strong US NFP Data

  

  Strong US labour market data on Friday caused the EUR/USD’s pair to stumble, though not enough to trigger a lasting reversal back towards 1.1400, the fresh data has at least prevented the pair from breaching January’s highs in the 1.1480s. Though the pair has recovered back from its sub-1.1420 post-NFP …

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• 4 February 2022 10:34 pm

  WTI Crude Surges Above $92 On Permian Freeze

  

  The US oil benchmark jumped to above $92 per barrel early on Friday, its highest level since 2014, amid the Russia-Ukraine crisis and a deep freeze in Texas that disrupted some Permian oil production.West Texas Intermediate crude oil broke this week the $90 a barrel mark for the first time …

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• 4 February 2022 9:12 pm

  BoC Likely To Hike Interest in March

  

  Data released on Friday, showed the Canadian economy lost 200K jobs in January, more than expected. Analysts at CIBC point out most of the decline came from industries affected by tightening health restrictions and the numbers should not alter the plans of the Bank of Canada (BoC) of raising rates …

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• 4 February 2022 8:19 pm

  Canada lost 200,000 jobs in January as Omicron hit hard

  

  Canada’s unemployment rate has surged to 6.5%. Many businesses closed up shop in January due to the spread of the Omicron variant, which resulted in the loss of work for hundreds of thousands of Canadians. Canada’s economy lost 200,000 jobs last month, according to Statistics Canada, as COVID-19 shutdowns related …

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• 4 February 2022 7:34 pm

  US Dollar Explodes Following Splendid NFP Data

  

  Not only did we get high NFP numbers for January, but we also got positive revisions for the past months. It is not a job market, it is rather paradise back on the financial market’s earth, the USD is trading higher everywhere.The strength of the US dollar manifested itself in …

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• 4 February 2022 7:20 pm

  USD/JPY jumps After NFP Amid Stronger US Dollar

  

  The USD/JPY pair has jumped from 114.90 to 115.38 following the release of the US employment report that showed better-than-expected data. The pair hit the highest level since Monday and it is holding above 115.00, with the bullish momentum intact.After the ADP report and other labor indicators, the 150K increase …

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• 4 February 2022 4:40 pm

  Oil Hits 7-Year High on Supply Worries

  

  Oil prices reached their highest level in seven years on Friday as geopolitical tensions and a winter storm in the United States fueled concerns about supply disruptions. Brent crude rose $1.32, or 1.5 percent, to $92.43 a barrel by 1120 GMT, after earlier touching its highest level since October 2014, …

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• 4 February 2022 3:52 pm

  Oil Stocks Boost European Shares

  

  European shares rose slightly on Friday as oil inventories rose but persistent concerns about inflation and an impending interest rate hike by the European Central Bank. The pan-European Stoxx 600 index rose 0.4 percent, after falling nearly 2 percent in the previous session. Oil inventories led the gains, adding 1.4 …

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• 4 February 2022 2:59 pm

  Euro area Retail Sales Decline by 3% in December

  

  Retail Sales in the euro area fell by 3% on a monthly basis in December, the data published by Eurostat showed on Friday. This print missed the market expectation for a decrease of 0.5%. In the EU, Retail Sales contracted by 2.8%.

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• 4 February 2022 2:16 pm

  NFP Preview: Forecasts From Four Major Banks

  

  The US Bureau of Labor Statistics will release the January jobs report on Friday, February 4 at 13:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of four major banks regarding the upcoming employment data. Deutsche Bank “We are …

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• 4 February 2022 1:27 pm

  Gold Rises as Dollar Slips Ahead of US Jobs Report

  

  Gold prices rose as the dollar fell on Friday, as markets awaited the US jobs report that may affect the Federal Reserve’s inclination to tighten monetary policy. Spot gold rose 0.1 percent to $1,805.90 an ounce. And US gold futures rose 0.2 percent to $ 1807.20. If the US jobs …

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• 4 February 2022 12:34 pm

  Japan’s Nikkei Index Records First Weekly Increase in 5 Weeks

  

  The Japanese stock index rose after a mid-day break on Friday, reversing its trend after a tepid morning session, to end the day with strong gains that halted a four-week decline. The Nikkei index closed the day’s trading, up 0.73 percent, recording 27439.99 points. Over the week, it recorded an …

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