Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 29 June 2022 12:27 pm

  Oil prices fell slightly after a three-day rise

  

  Oil prices fell on Wednesday after rising for three consecutive sessions, affected by concerns about the global economy, while restrictions on supply eased. Brent crude futures fell $0.98, or 0.8 percent, to $117 a barrel. US West Texas Intermediate crude futures fell $0.62, or 0.6 percent, to $111.14 a barrel. …

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• 29 June 2022 10:53 am

  Institute of Petroleum data shows a decline in US oil stocks and an increase in fuel stocks

  

  Sources told Reuters, citing figures from the American Petroleum Institute, that oil stocks in the United States fell last week, while fuel stocks rose. According to the sources, data from the Petroleum Institute showed that crude stocks fell by 3.8 million barrels during the week ending June 24, while gasoline …

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• 29 June 2022 10:19 am

  Russian oil production rises to 10.7 million b/d in June

  

  Kommersant newspaper reported on Wednesday, citing informed sources, that Russia’s oil production rose by about five percent in June to 1.46 million tons per day, or 10.7 million barrels per day.

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• 29 June 2022 4:38 am

  Market Drivers – US Session – Tuesday, June 29

  

  Gold lost some ground and settled around $1,820 per ounce, but crude oil prices kept rising amid supply concerns. G7 leaders discussed an agreement to impose a price cap on Russian oil, as sanctions on the crypto sent crude prices skyrocketing. WTI is now at around $111.60 a barrel.The US …

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• 29 June 2022 1:56 am

  Will this week’s crypto rally last for long?

  

  Bitcoin has surged 5% and topped nearly $22,000 over the weekend, in what can be seen as a big jump from early June’s $17,500 low. Ethereum saw a big jump as well, rising to above $1,200. For investors. The big question in the crypto asset market now is whether the …

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• 28 June 2022 11:41 pm

  GBP/USD retreats despite disappointing US data

  

  The British pound extends its losses to two successive days, trading below the 1.2200 mark, after touching a daily 1.2300 high mark and even retreating towards the 1.2190s area in the US trading session. The GBP/USD pair is trading at 1.2189.Market sentiment shifted sour after the disappointing US Consumer Confidence …

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• 28 June 2022 10:58 pm

  T-yields unchanged as investors digest latest economic data

  

  The yield on the benchmark 10-year Treasury note was little changed at 3.2%. Meanwhile, the yield on the 30-year Treasury bond gained just over 1 basis point to trade at 3.313%. Yields move inversely to prices.Traders and investors have become increasingly concerned about the anticipated recession in recent weeks as …

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• 28 June 2022 10:14 pm

  Fed’s Daly: Inflation reins the US economy

  

  On Tuesday, San Francisco Federal Reserve Bank President Mary Daly said she believes the US economy will slow to below 2% annual growth as the central bank hikes interest rates, but there will be enough momentum that it will not stop growing.“I do expect the unemployment rate to rise slightly, …

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• 28 June 2022 9:28 pm

  CAD surges on eased Covid-linked restrictions

  

  The Canadian dollar strengthens 0.3% against its American counterpart on Tuesday. The CAD has touched its strongest level since June 13 at 1.2820.Easing COVID-linked restrictions in China boosted the investors’ sentiment. Global shares were higher and the price of oil, one of Canada’s major exports, rose following China’s decision to …

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• 28 June 2022 8:47 pm

  Gold pressured ahead of Powell’s speech

  

  The Gold Index prolonged its losses for the second successive day. Gold is struggling to stay above the $1820 mark amidst the prevalent positive market sentiment that witnessed a jump in riskier assets, weighing on safe-haven assets, particularly in the precious metal segment.Gold trades at $1820.72, recording minimal losses of …

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• 28 June 2022 8:04 pm

  EUR/USD drops to multi-day lows

  

  The US dollar gains momentum during the US trading session whereas the Euro records fresh lows versus the dollar, the Swiss Franc and British pound.Stocks have erased some gains in Wall Street. The EUR/USD pair dropped further and bottomed at 1.0501, the lowest level since Thursday. It then trimmed losses, …

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• 28 June 2022 7:49 pm

  CB Consumer Confidence Index Drops To 98.7 In June

  

  Consumer confidence in the US continued to weaken in June. The US Dollar Index clings to strong daily gains near mid-104.00s.The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index dropped to 98.7 in June from 103.2 in May. This print came in weaker than …

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• 28 June 2022 6:40 pm

  US Treasury Department: Will prohibit Russian gold imports under latest sanctions

  

  The United States will prohibit Russian gold imports in the latest round of sanctions according to the Treasury Department. The Department announced this news on its website on Tuesday.The market has not reacted to this news headline yet. The Gold Index was down 0.15% on the day at $1,820.Additional takeaways“US …

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