Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 13 July 2022 10:15 am

  Libya’s NOC lifts force majeure on the Brega and Zueitina ports

  

  The National Oil Corporation of Libya announced in a statement on Wednesday the lifting of force majeure and the resumption of exports from the Brega and Zueitina ports. The statement stated that a team of specialists from the Corporation is negotiating to allow the tankers to enter the ports of …

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• 13 July 2022 5:28 am

  Market Drivers – US Session – Tuesday, July 12

  

  The White House memo (noting that US macroeconomic data, including the June jobs report, are not consistent with a recession) was a good attempt to improve market sentiment. The document added that “labour market strength puts the US in a better position than many other countries to transition to lower …

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• 13 July 2022 5:05 am

  WTI crude retreats around $90.00 on recession-linked concerns

  

  Oil prices are expected to slip towards $90.00 due accelerating global recession-linked fears. Lockdown in China and interest rate hikes by Western central banks have also trimmed oil price forecasts.WTI futures have displayed a steep downside after surrendering the psychological support of 100.00 last week. Crude oil recorded three-month low …

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• 13 July 2022 3:23 am

  GBP/USD faces barrier on UK political crisis

  

  The GBP/USD pair has encountered selling pressure after attempting to sustain above the crucial level of 1.1900 which is a steep fall after surrendering the weekly support at 1.1876 and printed fresh weekly support at 1.1807. On the UK front, ongoing political crisis after the announcement of resignation by current …

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• 13 July 2022 2:29 am

  Crypto Assets Drop As Markets Close Choppy Day

  

  Bitcoin was trading under $20,000 again after June’s ups and downs. Bitcoin’s move below $20,000 was not as critical as it was last month but developments in the crypto space are still certainly noteworthy as it repeatedly dipped below $20,000.Major crypto assets continued falling on Tuesday amid a choppy market. …

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• 13 July 2022 2:07 am

  US shares slide ahead of corporate earnings reports

  

  Shares shed early gains and ended broadly lower on Wall Street Tuesday as investors brace for a big week of news on inflation and company earnings reports. The S&P 500 retreated by 0.9%, extending its losing to a third consecutive day. All of the benchmark index’s 11 company sectors closed …

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• 13 July 2022 1:33 am

  IMF cuts US GDP growth projection for 2022 to 2.3%

  

  The International Monetary Fund has cut the US 2022 growth projection to 2.3% from 2.9% in late June, due to revised US data.Key RemarksIMF cuts US 2022 GDP growth projection to 2.3% from 2.9% in late June, due to revised US data.IMF cuts US 2023 GDP growth projection to 1.0% …

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• 13 July 2022 12:43 am

  As USD retreats, EUR/USD steadies at the brink of parity

  

  The EUR/USD pair bounces off fresh 20-year lows around the parity area, trimming some of Monday’s losses, as market sentiment wobbles, reflected by US equities fluctuating between gainers and losers, ahead of the US June Consumer Price Index (CPI) to be released on Wednesday.The EUR/USD is trading at 1.0052 after …

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• 12 July 2022 11:14 pm

  What does EUR/USD parity mean for US economy?

  

  For the first time in almost 20 years, the US dollar is nearly equal in value to the Euro. This may sound good for the dollar, but it could be harmful for some sectors as well.If the dollar becomes exceptionally strong, it could harm the business for US companies, because …

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• 12 July 2022 10:53 pm

  Boeing shares jump 8% on Q2 deliveries

  

  Boeing reported Q2 deliveries on Tuesday. The company’s stock is soaring. The commercial aerospace giant delivered 121 jets in the second quarter, up from 95 in the first quarter of the year.737 MAX deliveries totaled 100 in Q2, up from 81 delivered in the first quarter. Boeing also delivered 40 …

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• 12 July 2022 10:35 pm

  EU gives Croatia green light to adopt euro in 2023

  

  EU finance ministers on Tuesday gave Croatia the final green light to adopt the euro on January 1, 2023. “I would like to congratulate my counterpart, Zdravko Maric, and the whole of Croatia for becoming the 20th country to join the euro area,” said Zbynek Stanjura, the finance minister of …

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• 12 July 2022 9:47 pm

  Fed’s Barkin: recession is possible

  

  Federal Reserve’s Tomas Barkin said that the pace of policy change may be making markets ‘skittish’. He adds that there is a path to cool inflation but a recession ‘is possible’.Barkin expects inflation to come down but not immediately or predictably. Barkin sees early signals of supply easing in freight …

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• 12 July 2022 9:04 pm

  BoC To Decide Jumbo Rate Hike On Inflation Worries

  

  Most economists do predict a 0.75-point rate hike decision by the Bank of Canada on Wednesday, followed by another super-sized rise next autumn. This will be the biggest rate increase in decades, a three-quarter-point rise, which comes within the framework of combating hot inflation, and looks set to continue with …

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