Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 3 August 2022 4:01 pm

  Germany accuses Russia of delaying gas deliveries

  

  German Chancellor Olaf Schultz said on Wednesday that the Nord Stream 1 gas pipeline turbine is working fine, requires no repairs and can be used at any time, blaming Russia for delays in gas supplies to the European Union. During his visit to Siemens Energy, which was accused by the …

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• 3 August 2022 2:58 pm

  OPEC+ meets amid oil production struggles

  

  The OPEC+ meets today, Wednesday, amid market expectations of a steady or slight increase in oil production, as most of its members are already pumping near their maximum production capacities and cannot meet US calls for increased production to fight the rising prices. U.S. and Western sanctions against Russia have …

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• 3 August 2022 2:19 pm

  OPEC Secretary-General: The recovery in demand continues, but it may be at a slower pace

  

  The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, told Algerian television ahead of the OPEC+ meeting on Wednesday that the recovery in oil demand is continuing. Still, it may be at a slower pace than at the beginning of the year and last year. Al-Ghais …

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• 3 August 2022 1:28 pm

  Eurozone Retail Sales plunge 3.7% YoY in June vs. -1.7% expected

  

  Eurozone’s Retail Sales fell by 1.2% MoM in June versus 0.0% expected and 0.4% last, the official figures released by Eurostat showed on Wednesday. On an annualized basis, the bloc’s Retail Sales came in at -3.7% in June versus 0.4% recorded in May and -1.7% estimated. Separately, Eurozone’s Producer Price …

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• 3 August 2022 12:59 pm

  European shares fall before the release of important economic data

  

  European shares fell in early trading on Wednesday, ahead of key business growth data, as broader markets awaited the potential fallout from US House Speaker Nancy Pelosi’s visit to Taiwan. The pan-European Stoxx 600 index was down 0.2 percent by 7:10 GMT. Investors are awaiting important data on business and …

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• 3 August 2022 12:16 pm

  Nikkei rises as investors look for strong results

  

  Japan’s Nikkei index closed higher on Wednesday, recovering from the previous session’s losses, as investors turned to Daikin Industries and other companies that posted solid gains. The Nikkei index rose 0.53 percent to 27,741.90 points, falling 1.42 percent on Tuesday, its biggest daily loss in three weeks. The broader Topix …

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• 3 August 2022 11:45 am

  Starbucks earnings beat Wall Street estimates

  

  Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China Here’s what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Here’s what the company reported for the quarter ended July 3 …

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• 3 August 2022 3:09 am

  Market Drivers – US Session – Tuesday, August 2

  

  Risk-aversion came back benefitting the US dollar that is widely considered as a safe haven. US-Sino tensions arose on the arrival of US House Speaker Nancy Pelosi to Taiwan. Pelosi supports the local government against China’s will.Crude oil prices, on the other hand, recovered some ground and the barrel of …

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• 3 August 2022 2:13 am

  Robinhood cutting 23% of jobs, releases Q2 earnings

  

  Robinhood will reduce its headcount by approximately 23%. The American financial services company, headquartered in California, also dropped its earnings report for the second quarter, which showed a decline in monthly active users and assets under custody. Robinhood CEO Vlad Tenev said, on Tuesday, “deterioration of the macro environment, with …

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• 3 August 2022 1:01 am

  Starbucks surpasses earnings, revenue estimates

  

  Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance.Shares of Starbucks have fallen 27% this year, dragging its market value down to $98.37 billion. The coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in …

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• 3 August 2022 12:38 am

  Uber, Caterpillar, JetBlue fall, SunPower rise

  

  US stocks that traded heavily or had substantial price changes, on Tuesday, include Caterpillar, down $11.35 to $183.51. The construction equipment maker’s second-quarter revenue fell short of Wall Street forecasts. Uber Technologies’ stock was up $4.65 to $29.25. The ride-application-based company reported surprisingly strong second-quarter revenue.BP PLC stock was up …

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• 2 August 2022 11:27 pm

  EUR/GBP struggles amid risk off mood

  

  A risk-off impulse keeps safe-haven peers rising, as geopolitical US-China frays keep traders more cautious. At the time of writing, the EUR/GBP is trading at 0.8350.The EUR/GBP pair is still maintaining a kind of defensive stance as sellers eye a break below 0.8346. The RSI in the EUR/GBP daily chart …

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• 2 August 2022 10:44 pm

  Gold trades around $1770, eying $1,800 amid Taiwan’s row

  

  At the time of writing, gold trades at $1767.5 per ounce. Gold has been back under pressure as US yields spike, but bulls are eying the $1800 level. There is room for further upside with the 68.2% Fibonacci meeting prior weekly structure around $1,800. Markets are cautious over US-China row …

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