Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 22 August 2022 3:54 pm

  Turkey doubles Russian oil imports to fill shortages from Europe

  

  Refinitiv Eikon data showed Monday that Turkey had doubled its imports of Russian oil this year as the two countries prepare for broader cooperation in trade, especially in the energy sector, despite Western sanctions against Moscow. Trade between Turkey and Russia has been booming since the spring when Turkish companies …

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• 22 August 2022 2:41 pm

  Reuters: OPEC+ production fell 2.9 million b/d from the target level in July

  

  Two sources from OPEC+ said that the bloc’s production was 2.892 million barrels per day lower than its target levels in July, as sanctions imposed on some members and reduced investment by others hampered the group’s ability to increase production. The two sources said compliance with production targets reached 546 …

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• 22 August 2022 1:31 pm

  The dollar index rises to its highest level in five weeks

  

  The US dollar index hit a five-week high on Monday after another Federal Reserve official indicated that monetary tightening may remain strong ahead of the central bank’s Jackson Hole seminar this week. The euro fell to its lowest level in five weeks after Russia announced a three-day halt to European …

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• 22 August 2022 12:40 pm

  Gold falls to its lowest level in three weeks

  

  Gold prices fell for the sixth consecutive session on Monday, hitting their lowest level in more than three weeks, affected by the strength of the dollar and expectations that the Federal Reserve will raise interest rates to curb rising inflation. And the price of gold in spot transactions 0.1 percent …

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• 22 August 2022 12:00 pm

  Japanese stocks fall, tracking Wall Street losses

  

  Japanese stocks closed lower on Monday as technology heavyweights led the decline after Wall Street slumped amid rising bond yields at the end of last week. The Nikkei index fell 0.47 percent to 28,794.50 points, recouping some of its losses in early trading on the impact of China’s cut interest …

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• 22 August 2022 5:53 am

  Financial Markets’ Weekly Recap, August 15-19

  

  The US dollar continued to rise on Friday, taking advantage of the negative factors that dominated the markets last week with Federal Reserve officials and their statements to raise interest rates at a faster pace. The euro and the British pound fell to a one-month low against the safe-haven US …

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• 20 August 2022 3:25 am

  Market Drivers -US Session – Friday, August 19

  

  The US dollar gained 0.73% to 136.87 against the Japanese yen, the strongest since July 27. Sterling tumbled 1.03% to $1.1813 and had its biggest weekly drop against the dollar since September 2020.The US central bank needs to keep raising borrowing costs in order to tame high inflation, as clearly …

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• 20 August 2022 3:12 am

  Demand Fears Cannot Keep WTI Price Below $90

  

  On Friday, WTI crude oil trades at $90.44 versus $90.11 on Thursday. Brent trades at $95.17 versus $90.75 on Thursday.Bearish sentiment dominated oil markets amid fears of demand destruction. Rumors on nuclear deal renewal are pushing crude prices down. Inventory draws in the US are pushing prices higher, but downward …

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• 20 August 2022 2:36 am

  Citi among stocks left out earnings rally

  

  Shares of GSK, Citigroup and Stellantis are now among those left undervalued even after the overall Wall Street’s earnings rally on robust results.The entire group of six is Stellantis, Volkswagen, Citigroup Inc, Evercore Inc, Energy Transfer LP and GSK PLC. Stocks have rallied more than 17% from bear-market lows part;y …

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• 20 August 2022 2:13 am

  USD gains highest since April 2020

  

  The US dollar gained 0.73% to 136.87 against the Japanese yen, the strongest since July 27. Sterling tumbled 1.03% to $1.1813 and had its biggest weekly drop against the dollar since September 2020.The US central bank needs to keep raising borrowing costs in order to tame high inflation, as clearly …

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• 20 August 2022 1:03 am

  Will Powell’s Jackson Hole speech impact gold next week?

  

  Gold is ending the trading week down more than $50 because the US dollar has strengthened to weigh, accordingly, on the precious metal ahead of the Jackson Hole economic symposium and Fed Chair Jerome Powell’s speech before the symposium. Next week’s significant catalyst will be Powell’s speech before the Jackson …

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• 19 August 2022 11:47 pm

  Will these cryptos bleed on massive profit taking?

  

  Previous rally has faded as whales tend to abandon the ship, this is why Dogecoin and Shiba Inu have experienced major price corrections at their top because of massive profit taking after prices peaked on Sunday and Tuesday. Shiba Inu currently trades at $0.00001358 versus $0.000014 on Thursday. Meanwhile Dogecoin …

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• 19 August 2022 11:02 pm

  Dow Jones slides, S&P 500 Heading to abandon 4-week gains

  

  Expect markets to reach new highs next year, says Ed YardeniThe S&P 500 fell 1.3%, while the Dow Jones Industrial Average slid 302 points, or 0.89%. The Nasdaq Composite slid 2%. US shares generally retreated on Friday as Wall Street’s summer rally looks hesitant versus rate hike fears. The dominating …

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