The Federal Open Market Committee released its hawkish minutes of the June policy meeting. Markets have nearly fully priced in another 75-basis points rate hike in July with which the minutes align. Investors are paying close attention to discussions around the September rate decision. The US dollar is little changed …
Read More »
The UK’s Conservative Party’s 1922 Committee will hold an internal election of a new executive next Monday. The new executive will decide whether to change the rules surrounding the grace period following the no-confidence vote. The British pound is having hard times amid political jitters. The GBP/USD pair, which touched …
Read More »
The number of job openings decreased to 11.254 million in May from 11.681 million in April, the monthly Job Openings and Labor Turnover Summary (JOLTS) published by the US Bureau of Labor Statistics showed on Wednesday. “Hires and total separations were little changed at 6.5 million and 6.0 million, respectively,” …
Read More »
The ISM Services PMI in June retreated to 55.3 from 55.9 in May, showing that the business activity in the service sector expanded at a slightly softer pace. This data, however, came in better than the market expectation of 54.5.“The slight slowdown in services sector growth was due to a …
Read More »
Gold prices fell to near seven-month lows on Wednesday, as the dollar’s strength and expectations of a rate hike hurt the non-yielding metal. Spot gold fell 0.2 percent to $1,760.90 an ounce by 1053 GMT, after dropping about 2.6 percent on Tuesday. US gold futures fell 0.3 percent to $1,759.00 …
Read More »
The Turkish lira fell again on Wednesday, continuing losses for the seventh day, due to the rise of the dollar and investors’ fears of rising inflation and the policies applied to deal with the economic crises in the country. The lira fell one percent against the dollar to record 17.2 …
Read More »
Global recessionary fears have impacted most sectors across financial markets. The US dollar obviously benefited from the risk-aversion and soared entrenching the dollar’s safe haven status. The risk of a US recession is above 70%, according to most analysts. The inversion of Treasury yield curve also does add to those …
Read More »
Gold is under further pressure below a key monthly trendline and continues to get deeper in the red territory. Gold prices slumped to their lowest in more than six months on Tuesday, as the US dollar rallied amid growing recession concerns that caused losses across risk assets.Extra fears stem from …
Read More »
US Treasury yields tumbled on Tuesday on what is widely seen as a recession alert and a key part of the yield curve inverted for the first time in three weeks as concerns about economic growth injured risk appetite, bringing about increased demand for the safe haven US debt.Fears of …
Read More »
More news is coming out of 10 Downing Street, as the vice-chair of the UK Conservative Party, Bim Afolami resigned and calls for Boris Johnson to step down.Resignations en mass also included UK Parliamentary Private Secretary Saqib Bhatti, UK Parliamentary Private Secretary to Secretary of State for North Ireland Jonathan …
Read More »
Noor Trends News, Technical Analysis, Educational Tools and Recommendations
