Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 7 June 2022 4:12 pm

  Gold rises with growing economic concerns

  

  Gold prices rose on Tuesday as investors feared the repercussions of central banks’ plans to tighten monetary policy, but rising US bond yields, which supported the dollar, limited the gains. The price of gold increased 0.2 percent in spot trading, recording $1845.20 an ounce by 0842 GMT, recovering after touching …

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• 7 June 2022 2:30 pm

  The dollar is at its highest level in 20 years against the yen

  

  The dollar rose to its highest level in two weeks, supported by rising US bond yields, which pushed the Japanese yen to its lowest level in more than 20 years against the dollar. The yen fell to 133 yen against the dollar, a level previously highlighted as a trigger for …

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• 7 June 2022 1:58 pm

  Ukrainian agricultural exports rise 80% in May

  

  Ukraine’s agriculture ministry said on Tuesday that exports of cereals, oilseeds and vegetable oils rose 80 percent in May year-on-year to 1.743 million tonnes, but the quantities were still much lower than exports in the same month of 2021. The ministry added that corn dominated exports with 959,000 tons, while …

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• 7 June 2022 1:29 pm

  Gold stabilizes as central banks prepare to hike rates

  

  Gold prices settled near one-week lows on Tuesday as investors expected central banks’ plans to tighten monetary policy to keep interest rates high for an extended period, which in turn would raise US bond yields and the dollar. The price of gold did not witness little change in spot trading, …

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• 7 June 2022 12:58 pm

  Japan’s Nikkei index closes flat

  

  Japan’s Nikkei gave up most of its gains to close flat on Tuesday, as worries about inflation and higher interest rates in the United States outweighed the rise of automakers and energy-related stocks. The index rose 0.1 percent to 27,943.95 points, after exceeding 28,000 points for the first time since …

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• 7 June 2022 12:45 pm

  The Turkish lira continues to decline

  

  The Turkish lira fell 0.4 percent against the dollar on Tuesday, amid fears of rising inflation due to President Recep Tayyip Erdogan’s pledge to keep cutting interest rates. In a speech on Monday evening, Erdogan sought to downplay the rise in annual consumer prices to 73 percent last month as …

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• 7 June 2022 5:06 am

  Market Drivers – US Session – Monday 6 June 2022

  

  The market sentiment dramatically changed from optimism during Asian trading session into pessimism during the US session. The early positive mood was on the back of hopes that the global economic situation would start improving after Beijing continued easing coronavirus-linked restrictions.The sentiment deteriorated after the bell on Wall Street, as …

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• 7 June 2022 3:15 am

  US Equities advance, but economic concerns persist

  

  US equities closed slightly higher on Monday after a mixed trading session, helped by gains in Amazon.com and other mega-cap growth shares, while worries over inflation and interest rates threw heavy shades on the market.Consumer discretionary and communication services had the day’s biggest gains. But investors are still focused on …

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• 7 June 2022 2:27 am

  GBP/USD supported post critical vote on political Monday

  

  For now, UK’s Boris Johnson is in office, but there are several questions over his leadership on a poor outcome in the vote. The British pound found buyers at a 61.8% ratio as the UK PMs survived political Monday’s parliamentary confidence vote.At 1.2530, GBP/USD is starting out resting at hourly …

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• 7 June 2022 12:03 am

  Could slowdown threaten China’s economic ambitions?

  

  China’s Prime Minister Li Keqiang has recently warned that the country’s economy is struggling to stay on track, this sort of warning may have a projected impact on the Chinese global investment plans. Some economists believe that any slowdown will also hinder the China’s efforts to present itself as an …

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• 6 June 2022 11:26 pm

  Sterling Eyes Boris Johnson’s Confidence Vote

  

  UK prime minister, beset by a scandal over lockdown parties, faces a decisive vote on Monday evening London time. Conservative parliamentarians have handed out to the PM Boris Johnson a potentially lethal blow to his leadership as they have triggered a no-confidence vote which could force him from his position …

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• 6 June 2022 10:49 pm

  Gold Price Reacts To Treasury Yields’ Jump

  

  Gold price sharply pulled back during the US trading session as a reaction to the stronger US dollar and the jump of higher Treasury yields. The precious metal’s price slid to $1841, retreating to its lowest level since Wednesday.The Gold Index recorded a daily high after the beginning of the …

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• 6 June 2022 10:01 pm

  AUD/USD struggles ahead of RBA’s monetary policy meeting

  

  The Reserve Bank of Australia will have its June monetary policy meeting on Tuesday and is expected to hike the cash rate for a second consecutive month. In May, the RBA decided to raise the benchmark by 0.25% for the first time in over ten years.Observers and market participants argue …

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