Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 22 June 2022 1:11 am

  GBP/USD bulls in control but face a wall of 4-hour resistance

  

  At 1.2270, GBP/USD pair trades on the bid between 1.2239 and 1.2324. The price is currently higher by 0.24% and correcting from last week’s drop from 1.24. Overall, the prevalent market sentiment tone is risk-on and positive for the pound with the softer US dollar despite a focus on higher …

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• 21 June 2022 11:35 pm

  Gold Holds Around $1833

  

  At $1,833.90, gold trades flat by mid-day New York trading session and has stuck to a $1,830.83 and $1,843.66 range so far in a fickle trading environment. There has been some bargain hunting on Wall Street following last week’s sellofs in stocks as investors move in on the energy and …

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• 21 June 2022 10:23 pm

  EUR/USD firmly heads towards 1.0530s on softer Dollar

  

  As the Euro extended its gains in the week by 0.42%, the US dollar, on the contrary, falls courtesy of a positive market mood.Officially, ECB’s Rehn backs a move above 25 bps in the ECB’s September meeting. On the US front, Fed’s Barkin supported a 50/75 bps rate hike in …

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• 21 June 2022 9:43 pm

  Treasury Bond Yields Poised To Surge Again

  

  According to the Research Department at BBVA, Treasury yields are likely to rise more, peaking at the time when the US Fed end with tightening monetary policy. Analysts point out current Treasury yield spreads seem to continue to price in a soft landing. It is worth noting that one week …

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• 21 June 2022 9:06 pm

  AUD/USD edges higher but retreats amidst positive sentiment

  

  The AUD/USD is upward biased in the near term, boosted by RBA’s Lowe, saying that a 25-50 bps increase in the July meeting is on the cards.AUD/USD edges up after beginning the week on the wrong foot, jumping from 0.6915 daily lows towards 0.6990 highs, closing to the 0.7000 threshold. …

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• 21 June 2022 8:30 pm

  Bank of France cuts 2022 growth expectations to 2.3% from 3.4%

  

  The Bank of France announced on Tuesday that it cut the growth forecast for 2022 to 2.3% from 3.4%. In 2023, the central bank expects the French economy to expand by 1.2%, compared to 2% in its previous forecast.The EUR/USD pair reacted by losing its traction and erased a portion …

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• 21 June 2022 7:53 pm

  Barkin: Fed Will have to restrict monetary policy, question is how much

  

  Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that he will remain focused on actual inflation and expectations between now and the July policy meeting, as reported by Reuters.Barkin’s comments don’t seem to be have immediate impact on the US dollar’s performance against its rival currencies. The …

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• 21 June 2022 7:16 pm

  Germany’s Habeck: Reduced gas supply is a Russian economic attack

  

  German Economy Minister Robert Habeck said on Tuesday that the reduced gas supply had “another dimension” and that it was an economic attack by Russia against Germany, as reported by Reuters.Habeck has added that the gas supply situation could become worse than the coronavirus pandemic. Markets have not reacted to …

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• 21 June 2022 5:52 pm

  US: Chicago Fed National Activity Index declines to 0.01 in May

  

  The Federal Reserve Bank of Chicago’s National Activity Index fell to 0.01 in May from 0.4 (revised from 0.47) in April. This data shows that the US economy expanded at its historical average in May. “The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.27 …

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• 21 June 2022 5:10 pm

  Canada: Retail Sales rise by 0.9% in April vs. 0.8%

  

  The monthly data published by Statistics Canada showed on Tuesday that Retail Sales in Canada rose by 0.9% in April to C$60.72 billion. This print came in better than the market expectation for an increase of 0.8% and followed March’s expansion of 0.2% (revised from 0%). The publication further revealed …

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• 21 June 2022 4:03 pm

  Wall Street set for bounceback but recession risk keeps investors cautious

  

  Wall Street was set to open higher on Tuesday and European shares were set for a second day of gains, recovering slightly from last week’s 17-month lows, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, …

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• 21 June 2022 3:11 pm

  Euro rises as ECB officials confirm an interest rate hike

  The euro rose on Tuesday, drawing support from the European Central Bank’s intention to raise interest rates to contain inflation, while the Japanese yen again touched its lowest level in 24 years, affected by the continued pursuit of the Bank of Japan to pursue a very loose monetary policy. The …

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• 21 June 2022 2:33 pm

  The US President is about to decide whether to suspend the federal gasoline tax

  

  US President Joe Biden said that he is expected to make a decision this weekend to suspend the federal tax on gasoline, adding that a similar decision should be made based on clear data. It is worth noting that the study of suspending a tax on gasoline comes at a …

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