Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 7 September 2022 4:34 pm

  China’s export growth slowed more than expected in August

  

  The growth of Chinese exports slowed down in August to post 7.1% on an annual basis from a growth of 18% recorded in July, compared to expectations of a growth of 12.8%, at a time when the Corona pandemic is still casting a shadow on Chinese cities and factories located …

  Read More »
• 7 September 2022 3:31 pm

  Oil prices rise after Putin threatens to cut supplies

  

  Oil prices rose on Wednesday on the back of Russian threats to withdraw from energy supply contracts, reversing losses incurred earlier in the session when they fell to their lowest levels since Russia’s invasion of Ukraine. Brent crude futures rose 85 cents, or 0.92 percent, to $93.68 a barrel by …

  Read More »
• 7 September 2022 2:47 pm

  Putin says he wants to limit Ukraine’s grain export destinations

  

  Russian President Vladimir Putin warned on Wednesday of a looming global food crisis. He said he would discuss amending a grain export deal with Ukraine to limit countries receiving shipments. Speaking at an economic forum in the eastern city of Vladivostok, Putin said that Moscow had done everything in its …

  Read More »
• 7 September 2022 1:16 pm

  Eurozone Final GDP revised higher to 0.8% QoQ in Q2

  

  The Eurozone economy expanded by 0.8% on the quarter in the three months to June of 2022 vs. 0.6% prior, the final revision confirmed on Wednesday. The market consensus was for a reading of 0.6% in the reported period. On an annualized basis, the bloc’s GDP rate rose by 4.1% …

  Read More »
• 7 September 2022 1:11 pm

  European shares open lower as mining and energy stocks decline

  

  European shares opened lower on Wednesday as mining and energy companies led the losses as investors remained concerned about the outlook for demand in the wake of weak trade data from China. The European oil and gas index was down 2.2 percent by 0720 GMT, while the mining index lost …

  Read More »
• 7 September 2022 1:08 pm

  Japan shares close lower

  

  Japanese stocks fell on Wednesday as continued investor fears about an economic slowdown outweighed the strong performance of exporters’ shares, which rose on the yen’s fall. The Nikkei index fell 0.71 percent, tracking losses overnight on Wall Street, as the three major indexes fell after the US services sector report …

  Read More »
• 7 September 2022 11:57 am

  Gold prices fall as the dollar and bond yields rise

  

  Gold prices fell on Wednesday as the dollar and Treasury yields rose after upbeat economic data boosted expectations that the Federal Reserve will continue to raise interest rates sharply. And gold fell in spot transactions 0.5% to $ 1692.99 an ounce (an ounce) by 0330 GMT, after falling earlier to …

  Read More »
• 7 September 2022 4:01 am

  Market Drivers – US Session – 06/09/2022

  

  The US dollar extended its gains, ending Tuesday higher against most rival currencies. The EUR and the JPY were the worst performers, falling to multi-year lows against their American rival. EUR/USD traded as low as 0.9863, now hovering around 0.9900, while USD/JPY trades a handful of pips below 143.07, a …

  Read More »
• 7 September 2022 3:47 am

  T-yields, Dollar Index dragging gold lower

  

  At the time of writing, the precious metal trades around $1703. Earlier on Tuesday, gold future traded at $1712.80 with net decline of $9.80 or – 0.56%. Concurrently the dollar index was up 71 points or 0.65% and fixed at 110.22. This could mean that there was fractional buying in …

  Read More »
• 7 September 2022 3:27 am

  Could BoC hike interest rate policy above aggregate 3%?

  

  The Bank of Canada is widely expected to decide one more big interest hike on Wednesday in its endeavour to fight inflation which is currently near forty year high and closer to the 2% target.All 31 economists surveyed by Bloomberg expect policy makers led by Governor Tiff Macklem to raise …

  Read More »
• 7 September 2022 3:12 am

  EUR/GBP extends the rebound from weekly low

  

  The EUR/GBP pair has maintained its defensive standing while keeping the previous day’s bounce off a one-week low around 0.8600 during Wednesday’s initial Asian session.The cross-currency pair dropped to the lowest levels since August 30 before taking a U-turn from the 50-SMA. The corrective pullback, however, lacks support from the …

  Read More »
• 7 September 2022 1:21 am

  USD/JPY Rallies as yen falls apart

  

  The USD/JPY pair rallied on Tuesday and took out the symbolic level of 142, scoring a fresh 24-year low as the US dollar sprung into life again and while the gap between Japanese monetary policy and its counterparts widens. USD/July hit the highest levels since August 1998. Japan’s Finance Minister …

  Read More »
• 7 September 2022 12:20 am

  Demand Fears Drag WTI Price Lower

  

  Oil prices fell on Tuesday as concern returned about the prospect of more interest rate hikes and COVID-19 lockdowns weakening fuel demand, reversing a two-day rally on OPEC+’s first output target cut since 2020.The US benchmark had been trading since Sunday without settlement due to the Labor Day holiday. WTI …

  Read More »