Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 1 June 2022 5:08 pm

  UGA: Expectations of a 42% decrease in the wheat harvest in Ukraine this year

  

  Ukraine’s wheat harvest in 2022 is likely to fall to 19.2 million tons from 33 million tons in 2021, but lower exports will push stocks to record highs, the Ukrainian Grain Traders Union (UGA) said on Wednesday. Ukrainian officials and analysts said that hostilities in many areas may make harvesting …

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• 1 June 2022 5:03 pm

  Reuters: OPEC + reduced the forecast of the oil market surplus in 2022 to 1.4 million b/d

  

  Two sources in OPEC + told Reuters on Wednesday that the group expects the oil market surplus to be 1.4 million barrels per day in 2022, about 500,000 barrels per day less than previous expectations. The two sources were based on figures prepared for the meeting of the OPEC + …

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• 1 June 2022 3:36 pm

  Euro area Unemployment Rate stays unchanged at 6.8% in April

  

  The monthly data published by Eurostat showed on Wednesday that the Unemployment Rate in the euro area and the EU stayed unchanged at 6.8% and 6.2%, respectively, in April. Markets were expecting the euro area Unemployment Rate to edge lower to 6.7%.

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• 1 June 2022 2:40 pm

  The dollar rises against the euro and hits a two-week high against the yen

  

  The euro moved further away from its monthly high on Wednesday and the dollar rose, supported by higher US Treasury yields as global inflation fears escalated again. The dollar index, which measures the performance of the US currency against six major currencies, including the euro, rose 0.2 percent to 101.96, …

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• 1 June 2022 2:16 pm

  Gold touches two-week lows as dollar and bond yields rise

  

  Gold prices fell to their lowest level in two weeks on Wednesday, but remained in a limited range as the demand for the precious metal as a safe haven helped offset some of the continuing pressures from the rise in the dollar and US Treasury yields. And the rise of …

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• 1 June 2022 1:42 pm

  Euro area Unemployment Rate stays unchanged at 6.8% in April

  

  The monthly data published by Eurostat showed on Wednesday that the Unemployment Rate in the euro area and the EU stayed unchanged at 6.8% and 6.2%, respectively, in April. Markets were expecting the euro area Unemployment Rate to edge lower to 6.7%.

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• 1 June 2022 1:30 pm

  Japanese stocks rise as auto stocks rise, boosted by strong earnings expectations

  

  Japanese stocks rose on Wednesday, supported by a rebound in the auto sector after a report by analysts gave positive expectations for the sector’s profits, but limited cautious gains in trading ahead of the monthly data on US employment in the non-farm sectors. The Japanese Nikkei index rose 0.65 percent …

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• 1 June 2022 12:39 pm

  European shares rise slightly thanks to the rise of banking and auto shares

  

  European shares opened slightly higher on Wednesday, boosted by a rally in bank and auto stocks, but negative data raised fears of slowing economic growth and capped gains. The pan-European STOXX 600 index started the month higher, adding 0.3% by 0716 GMT, after closing down 0.7% on Tuesday, as the …

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• 1 June 2022 3:34 am

  Market Drivers – US Session – 31 May

  

  US President Joe Biden plotted inflation-fighting strategy, on Tuesday, during his meeting with the Fed Chair Jerome Powell. Biden reportedly focused on relentlessly surging prices, with the destiny of the US economy and his own political prospects increasingly dependent on the actions of the government’s central bank. Biden’s endorsement of …

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• 1 June 2022 3:13 am

  GBP/JPY benefits of mixed sentiment

  

  The sterling gains against the Japanese yen, despite risk-off market sentiment that typically benefits the Japanese yen, but the rally in the USD/JPY pair weighed on the yen. The GBP/JPY gains some 0.20% as the Asian Pacific session begins. As for market sentiment, it begins to shift to positive but …

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• 1 June 2022 2:58 am

  Secretary Yellen: I was wrong about the path inflation would take

  

  US Treasury Secretary Janet Yellen said during a CNN interview on early Wednesday “Inflation is number one concern for President Biden”.Financial markets are digesting Yellen’s comments amid a generally quiet early Asian session. The AUD/USD pair pauses the day-start recovery moves around 0.7180.Key QuotesI was wrong about the path inflation …

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• 1 June 2022 1:12 am

  Key Points On Biden-Powell Meeting’s Agenda

  

  US President Joe Biden plotted inflation-fighting strategy, on Tuesday, during his meeting with the Fed Chair Jerome Powell. Biden reportedly focused on relentlessly surging prices, with the destiny of the US economy and his own political prospects increasingly dependent on the actions of the government’s central bank.Tuesday’s meeting was the …

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• 1 June 2022 12:15 am

  AUD/USD Struggles Ahead Of Chinese PMIs Data, Australian GDP

  

  The Australian dollar has slid from weekly highs above 0.7200 amid a trading day with relatively sour market sentiment with negative impact around the end of May flows that enhanced the US dollar while US Treasury yields exhibit some momentum.AUD/USD pair has retreated during the US session, from weekly highs …

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