Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 5 August 2022 1:02 pm

  Gold at a month high as bond yields fall ahead of US employment data

  

  Gold prices settled on Friday at their highest levels a month before the release of long-awaited US employment data, as falling Treasury yields and growing fears of a recession boosted the value of the safe-haven precious metal, keeping it on track for a third consecutive week of gains. By 0701 …

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• 5 August 2022 12:20 pm

  European shares stabilize before US jobs data

  

  European shares stabilized on Friday as eyes turned to US jobs data expected later. Investors assessed the Bank of England’s biggest rate hike in 27 years amid growing fears of a recession. By 0705 GMT, the pan-European Stoxx 600 index settled, amid fears of slowing growth in the world’s largest …

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• 5 August 2022 4:26 am

  Market Drivers – US Session – August, 4

  

  The dollar fell against most of its major rival currencies, ending the trading day near its latest lows. This constitutes a sign of additional declines ahead in the near term.AUD/USD advanced and hovers around 0.6970, helped by gold, as the bright metal reached fresh one-month highs in the $1,790 price …

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• 5 August 2022 4:07 am

  WTI pressured around $87.80 amid recession fears

  

  WTI crude oil holds lower ground near six-month bottom after declining for the last four days. Fears of economic slowdown, central bank aggression outweigh geopolitical woes linked to China, Russia. US jobs report for July as well as developments surrounding China will be important for fresh impulse. WTI crude oil …

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• 5 August 2022 3:37 am

  USD/CHF turns sideways ahead of NFP data

  

  The USD/CHF pair is wavering in an 11-pip range as investors await the important NFP data in the US. Estimated 200k for the NFP could even drag the asset lower. The Dollar Index failed to capitalize on a wave of hawkish commentary from several Fed policymakers.The USD/CHF pair is displaying …

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• 5 August 2022 2:27 am

  Could NFP Data Impact Gold’s rally?

  

  Gold breached the coveted $1,800 per ounce on Thursday on accelerated geopolitical tensions between China and the United States. But Friday’s employment report could disrupt gold’s momentum, according to analysts. December gold futures rose $33 on Thursday, touching a daily high of $1,812. At the time of writing, gold trades …

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• 5 August 2022 1:40 am

  Warner Brothers misses Q2 earnings expectations

  

  Warner Bros. Discovery posted weaker than expected second quarter earnings Thursday amid a firestorm of speculation about a restructuring at the company that would cull costs.The media giant, which owns HBO, CNN, Warner Bros., HGTV and TLC, reported its earnings for the first time since it merged earlier this year, …

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• 5 August 2022 12:34 am

  Fed’s Mester supports further Interest rate hikes this year on till Mid 2023

  

  President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Thursday that the Fed should raise interest rates to above 4% in order to bring inflation back down to target.The US dollar was lower vs. most major currencies on Thursday, down some 0.5% at the time of writing …

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• 4 August 2022 11:49 pm

  WTI Crude Retreats Below $90

  

  The US crude oil benchmark dipped early on Thursday to the lowest level in months, falling below $90 a barrel for the first time since Russia invaded Ukraine at the end of February.WTI trades now at $91.9, but at 10:30 a.m. ET on Thursday, the US benchmark WTI Crude had …

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• 4 August 2022 11:03 pm

  Enverus Lowers Oil Price Forecast

  

  In the latest signal of a faltering oil market, energy analytics and intelligence firm Enverus said it was lowering its outlook for crude oil prices in the face of a looming recession and signs of demand destruction. In an email, the firm said it was reducing its outlook for the …

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• 4 August 2022 10:17 pm

  Analyzing market reaction to NFP surprises

  

  US Nonfarm Payrolls are expected to rise by 250,000 in July. Most assets, including gold, could likely react more significantly to any disappointing jobs report than a positive one. Gold’s movement has no apparent connection with NFP deviation four hours after the release.The headline job gains so far this year …

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• 4 August 2022 9:20 pm

  Secretary General: OPEC should tread a fine line as not to consume all oil reserves

  

  OPEC Secretary General Haitham Al-Ghais told Al-arabiya TV, on Thursday, that the organization should tread a fine line as not to consume all oil reserves, the Organization’s Al-Ghais also commented on OPEC’s decision on Wednesday to only increase production by 100,000 barrels per day by saying: “we aim to test …

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• 4 August 2022 8:46 pm

  Jobless data suggests recession has not come yet

  

  Initial jobless claims have been trending higher since early April in one of the clearest signs that the US labour market conditions have begun to deteriorate. While jobless claims have a successful track record foreshadowing recession, continuing claims are a better check on whether the economy is already slowing down.The …

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