Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2022

• 25 May 2022 3:18 am

  Market Drivers – US Session – Tuesday 24 May

  

  The US dollar remained weak on Tuesday. The EUR/USD pair rallied beyond 1.0700 as more ECB officials vowed for a 50 bps rate hike. The GBP/USD pair, however, fell following softer-than-anticipated local data to end the day in the 1.2520 price zone.Economic Data S&P Global released the preliminary estimates of …

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• 25 May 2022 2:47 am

  Gold consolidates above $1,860, FOMC minutes, US Durable Goods eyed

  

  Gold price is holding above $1,860.00 ahead of FOMC minutes. The positive market sentiment has diminished the appeal of safe-haven assets. The US monthly Durable Goods Orders are seen lower at 0.6%.Facts that hold significant importance in the FOMC minutes are the number of voters advocating the 50 basis points …

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• 25 May 2022 1:39 am

  US Shares trade mixedly on Biden’s comments, downbeat data

  

  US shares closed Tuesday’s trading session exhibiting mixed performance, after US President Joe Biden’s comments indicating that his administration is pondering restructure of tariffs imposed on Chinese goods and services.There was also a slew of economic data that shed light on a deterioration in the US housing sector as well …

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• 25 May 2022 1:02 am

  China’s lockdowns alarm financial markets

  

  Beijing is continuing quarantine to end its month-old COVID outbreak, while in Shanghai’s authorities plan to keep most restrictions in place this month, before a more complete lifting of the two-month-old lockdown from June 1.The Chinese capital reported 47 new Covid cases om Tuesday, compared with 48 on Monday. Cases …

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• 25 May 2022 12:19 am

  GBP/USD benefits from positive sentiment, eyes FOMC Minutes

  

  The GBP/USD pair has rebounded gradually from a low of 1.2475 amid relatively positive market sentiment. Earlier on the day, the pair experienced a steep fall on Tuesday after failing to overstep the round level resistance of 1.2600. The asset was offered on Tuesday amid poor S&P Global Purchase Managers …

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• 24 May 2022 11:27 pm

  EUR/JPY gains despite retreating from weekly highs

  

  The EUR/JPY edges lower after reaching fresh weekly highs at around 136.79 and daily lows just below the 50-DMA at 135.64, blamed on the negative market sentiment that increased appetite for safe-haven peers. The EUR/JPY pair is trading at 136.16.Risk aversion continued for the second consecutive day in the week. …

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• 24 May 2022 10:23 pm

  USD/CAD edges higher amid slowdown concerns

  

  At 1.2824, USD/CAD is higher on Tuesday so far as the commodity sector is shaken by concerns about weak earnings and slowing economic growth punctured the recent mini-rally. Shares have been performing negatively while traders, market participants and investors are still concerned over China’s economy.At the start of the week, …

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• 24 May 2022 9:27 pm

  AUD/USD slides as investors rethink macro outlook

  

  The Australian dollar eased on Tuesday as global stocks underperformed while investors remain concerned over China’s economy and COVID lockdowns. At the start of the week, traders favoured the pledges of more stimulus from China’s government over the prospects of a prolonged lockdown in various regions of the nation that …

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• 24 May 2022 8:44 pm

  Fed’s Bostic: Might need to pause rate hikes in September

  

  Federal Reserve’s Raphael Bostic said rate hikes won’t cause a recession and that the central bank can hike rates to deal with overly high inflation without sending the US economy into recession.He repeats that the Fed rates hikes can take some pause arguing that the Fed might need to pause …

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• 24 May 2022 8:02 pm

  US equities subject to losses until readiness to stop QT declared by Fed

  

  There are signs of easing inflationary pressures and moderating growth but not enough to prompt a shift by the Fed yet. The Fed is expected to raise interest rates by another 0.5 percentage point in June.The stock market sell-off will end when the Fed signals it’s done tightening monetary policy, …

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• 24 May 2022 7:09 pm

  ECB’s Kazaks: Shouldn’t rule out a 50 bps rate hike

  

  European Central Bank policymaker Martins Kazaks said on Tuesday that the bank should not rule out a 50 bps rate hike, and that he sees possible rate hikes in July, September and potentially one more in the fourth quarter. Kazaks ‘ comments come after fellow ECB policymaker Robert Holzmann called …

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• 24 May 2022 4:53 pm

  Moderna is testing a potential monkeypox vaccine

  

  Moderna is testing a potential monkeypox vaccine in preclinical testing as the disease spreads in the United States and Europe. The World Health Organization said on Tuesday that the number of confirmed cases of monkeypox has reached 131 and there are 106 other suspected cases since the first infection was …

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• 24 May 2022 3:56 pm

  Gold Price Loses Steam

  

  Gold rose in Tuesday morning trading in Asia. The dollar also rose and stabilized after falling during the previous session, which pushed the yellow metal to the highest point in two weeks. Gold futures rose 0.17% to $1,850.94 by 11:10 PM ET, after hitting their highest since May 9 at …

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