Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 4 July 2022 9:47 pm

  Turkey’s inflationary pressures would continue due to domestic, global factors

  

  The Consumer Price Index Turkey rose in June by 4.98%, and the annual rate approached 8%; slightly lower than market consensus (5.7%) and expectations that suggest (5.5%), which resulted in an annual figure of 78.6%. The downside surprise was due to lower food prices, particularly processed food conflicting with the …

  Read More »
• 4 July 2022 8:04 pm

  Scholz: Current crisis won’t be over in a few months

  

  German Chancellor Olaf Scholz said on Monday that his government will continue to meet regularly with unions on energy price and inflation issues while noting that the current crisis will not be over in a few months.Scholz’s comments don’t have any immediate impact on the Euro’s performance against rival currencies. …

  Read More »
• 4 July 2022 7:21 pm

  ECB’s de Guindos: Elevated inflation will remain with us for some time

  

  European Central Bank Vice President Luis de Guindos said on Monday that they have seen inflationary pressures broaden and intensify across many goods and services in recent months.The EUR/USD pair showed no immediate reaction to these remarks and was last seen trading flat on the day at 1.0430.Key Quotes“Elevated inflation …

  Read More »
• 4 July 2022 6:02 pm

  The dollar is falling against the euro and pound

  

  The euro and sterling rose against the dollar on Monday in quiet trade amid the holiday season in the United States while risk appetite improved globally. With US markets closed for the Independence Day holiday, markets expected light trading on Monday and major currencies gained ground at the expense of …

  Read More »
• 4 July 2022 4:50 pm

  Gold prices fall as rates rise in July

  

  Gold prices fell on Monday as higher interest rates made the precious metal less attractive but the dollar’s decline helped hold gold above the $1800 support. Spot gold fell 0.2 percent to $1,806.58 an ounce by 1121 GMT, after touching a five-month low of 1,783.50 on Friday. US gold futures …

  Read More »
• 4 July 2022 3:38 pm

  Swiss inflation rises to a 29-year high of 3.4%

  

  Swiss inflation touched a 29-year high of 3.4% in June, more than economists had expected, and for the first time in Switzerland inflation exceeded 3% since 2008. This reading fueled talk that the central bank may tighten its policy again soon after raising its policy rate last month for the …

  Read More »
• 4 July 2022 1:55 pm

  Energy stocks lead European markets higher ahead of inflation data

  

  European stock markets rose on Monday, boosted by oil and gas stocks, while investors awaited the release of inflation data in the eurozone, after a report on consumer prices published last week boosted expectations that the European Central Bank will raise interest rates. The pan-European STOXX 600 index rose 0.8 …

  Read More »
• 4 July 2022 1:08 pm

  Annual inflation in Turkey jumps to 78.6%, the highest level in 24 years

  

  Turkey’s annual inflation rate jumped to a 24-year high of 78.62 percent in June, slightly above expectations, data showed on Monday, driven by the impact of the Ukraine war, rising commodity prices and the depreciation of the lira. The Turkish Statistical Institute said consumer prices rose 4.95 percent month-on-month, compared …

  Read More »
• 4 July 2022 12:21 pm

  Germany’s trade deficit hit 1B in May

  

  Germany’s seasonally adjusted deficit was about 1 billion euros in the previous May, down from the revised figure in April of 3.1 billion euros, according to data released on Monday. Exports in Germany amounted to about 125.8 billion euros, down 0.5% on a monthly basis, but increased by 11.7% compared …

  Read More »
• 4 July 2022 11:38 am

  Japan shares rise at the close, supported by the utilities sector

  

  Japanese shares closed higher on Monday, supported by utility companies as the country continues to grapple with an unprecedented heat wave. Overall, investor sentiment remained low on widespread fears of a global economic slowdown, with trading slowing ahead of the US Independence Day holiday on Monday. The Nikkei index rose …

  Read More »
• 4 July 2022 10:36 am

  Oil prices decline as tight supply continues

  

  Oil prices fell in early Asian trading on Monday, paring gains from the previous session as fears of a global recession weighed on the market while supply shortages persisted amid lower OPEC production, unrest in Libya and sanctions against Russia. Brent crude futures fell 35 cents, or 0.3 percent, to …

  Read More »
• 4 July 2022 3:08 am

  Financial Markets’ Weekly Recap, June 27 – July 1

  

  Financial Markets’ Weekly Recap, June 27 – July 1 Last week, financial markets sent several warnings that global economic growth slowdown is looming and recession has become most probable, however there is no general agreement among market participants on ‘when’ entering into recession could take place.  Gold As trading kicks …

  Read More »
• 2 July 2022 2:59 am

  Market Drivers – US Session – Friday, July 1

  

  Investors and traders do monitor potential headwinds in loan growth and credit quality in the banking sector as JPMorgan Chase & Co. JPM, +1.28% and Morgan Stanley MS, +0.91% are scheduled to report earnings on Thursday, July 14, as the first two of the big-six US banks. US equities finished …

  Read More »