Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 8 July 2022 12:16 am

  Gold Price is correcting ahead of NFP

  

  Gold is correcting from a significant sell-off in the week ahead of NFP. The bulls eye a 50% mean reversion but it all comes down to key data on Friday. Despite gold kicking off the second half of the year with a drop below $1,800 per ounce, Bloomberg Intelligence sees …

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• 7 July 2022 11:37 pm

  WTI price benefits from supply fears

  

  US crude oil prices reclaim the $100 level on supply issues. Russia’s halt of a Kazaks terminal cut supply by 1.2 million BPD.Oil prices rise on Thursday, jumping from weekly lows around $95.13, as the US dollar retraces from two-year highs and recession fears abate. At the time of writing, …

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• 7 July 2022 10:43 pm

  Do US stocks ignore recession threats?

  

  The Dow Jones Industrial Average climbed 250 points Thursday morning, reflecting positive global trade, as investors digested an early batch of jobs data. The highly anticipated US payrolls report is due out Friday morning.Tesla traded up around 3% early Thursday. Elsewhere, Dow Jones tech leaders Apple and Microsoft were squarely …

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• 7 July 2022 9:54 pm

  Fed Officials Speak On Inflation, Soft Landing,

  

  Fed’s Bullard: We’ve got a good chance at a soft landingCEO of the Federal Reserve Bank of St. Louis. James Bullard has said that rather than stagflation, a better bet is growth will slow to trend and that inflation will come under control rapidly.Key comments by BullardThe labor market could …

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• 7 July 2022 9:01 pm

  Canada witnesses sharp widening in trade surplus

  

  Data released on Thursday showed an increase in the trade surpluses from CAD 2.17 billion to 5.32 billion in May. Analysts at CIBC warn the increase could be temporary considering it was driven in part by a strengthening in oil prices which has reversed more recently.Key Quotes: “The goods trade …

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• 7 July 2022 8:07 pm

  Canada’s Ivey PMI shows activity growing at slowest pace in 4 months

  

  Canadian economic activity expanded at its slowest pace in four months in June as prices cooled, Ivey Purchasing Managers Index (PMI) data showed on Thursday.The seasonally adjusted index fell to 62.2 from 72.0 in May, its lowest level since February. The Ivey PMI measures the month-to-month variation in economic activity …

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• 7 July 2022 7:12 pm

  ECB’s Stournaras: Not observing excessive wage demand in Europe

  

  European Central Bank Governing Council member Yannis Stournaras noted on Thursday that the monetary policymakers are not observing excessive wage demand in Europe.In the meantime, ECB policymaker and Governor of the Central Bank of Cyprus Constantinos Herodotou said that they are not targeting exchange rates while adding that they do …

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• 7 July 2022 3:57 pm

  US oil stocks rose by 3.8 million barrels

  

  The American Petroleum Institute said that crude oil inventories rose by 3.8 million barrels in the week ending July 1. In its weekly report, the American Institute stated that gasoline stocks fell by 1.8 million barrels last week, and distillate stocks fell by 635,000 barrels. The release of the inventories …

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• 7 July 2022 2:13 pm

  Euro rises from its lowest level in 20 years

  

  A slight decline in the dollar gave the euro some recovery, allowing it to bounce off its two-decade low reached this week after higher energy prices fueled recession fears. Risky assets, including the euro, managed to post gradual gains on Thursday as investors cautiously deal with rising recession risks and …

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• 7 July 2022 1:07 pm

  UK PM Johnson will reportedly announce his resignation

  

  Several news outlets reported on Thursday that British Prime Minister Borish Johnson is expected to announce his resignation. According to the BBC Johnson is set to make a statement within hours. The PM will reportedly stay on as the leader of the Conservative Party until a new leader is chosen …

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• 7 July 2022 1:05 pm

  European shares rise, supported by energy companies and chip makers

  

  European shares rose on Thursday, boosted by oil companies and chip makers that were supported by strong preliminary results announced by the Korean Samsung, while investors awaited the European Central Bank meeting statement for indications of a rate hike. The pan-European STOXX 600 index rose 0.8% by 0718 GMT, after …

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• 7 July 2022 1:04 pm

  Japan shares close higher as technology shares rebound

  

  Japanese stocks closed higher on Thursday, July 7, as investors continued to seek to benefit from a decline in technology stocks, with sentiment boosted by the gains made by Wall Street overnight. The Nikkei index rose 1.47% to close at 26,490.53 points, and the broader Topix index rose 1.42% to …

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• 7 July 2022 10:42 am

  Less-than-expected rise in German industrial production in May

  

  German industrial production rose less-than-expected in May, official data showed on Thursday, as supply chain problems stemming from the war in Ukraine and COVID-19-related shutdowns in China made it difficult to process orders. The Federal Statistics Office said industrial output rose 0.2 percent month-on-month, after an upwardly revised 1.3 percent …

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