Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 15 June 2022 3:22 am

  Market Drivers – US Session – Tuesday, June 14

  

  The American dollar kept advancing on Tuesday, and retains its strength early Wednesday, as fear rules financial markets ahead of the US Federal Reserve policy decision.Market players had long ago anticipated a 50 bps hike, but on Monday, market talks suggested the central bank may go for a steeper hike …

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• 15 June 2022 3:11 am

  White House Adviser: Focus is on bringing down costs and Federal deficit

  

  “US economy is in a transition,” said White House Economic Adviser Brian Deese during an interview with CNN on Tuesday.The policymaker also signaled the WH’s aim to ease the price pressure and the Federal deficit during the interview.Such comments from the key diplomat ahead of the FOMC decision, up for …

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• 15 June 2022 2:34 am

  Ahead Of FOMC Decision, Biden: Tackling Worst Inflation Top Priority

  

  Speaking to supporters in Philadelphia, US President Joe Biden reassured Americans that tackling the worst inflation the nation has seen in decades remains a top priority for him and his administration. The speech comes oner day before the Fed could raise interest rates as much as three-quarters of a percentage …

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• 15 June 2022 1:28 am

  Fitch affirms Canada’s ratings at ‘AA+’ with stable economic outlook

  

  Global rating giant Fitch affirmed Canada’s Long-Term Foreign-Currency and Local-Currency Issuer Default Ratings (IDR) at ‘AA+’ with a Stable Rating Outlook.Following the news, the USD/CAD retreated from a monthly high surrounding 1.2975, also probing the five-day uptrend, at 1.2955 by the press time.Fitch expects firm Canadian economic growth of 3.8% …

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• 15 June 2022 12:43 am

  Is another crypto crash possible?

  

  Bitcoin sank below $21,000 on Tuesday, extending sharp declines from the previous day and sinking deeper into 18-month lows. The total value of all digital tokens combined also dipped below $1 trillion for the first time since early 2021.A liquidity crisis at cryptocurrency lending firm Celsius has triggered investors’ worries …

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• 15 June 2022 12:04 am

  Biden shifts responsibility for taming inflation to Fed

  

  Following a rare meeting between President Joe Biden and Fed Chair Jerome Powell, Biden emphasized the importance of allowing the Fed to act autonomously as it works to diminish inflation and prevent a recession.The meeting occurred days prior to the announcement that inflation rates had once again reach decades-high levels …

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• 14 June 2022 11:11 pm

  WTI retreats from fresh one-month high

  

  Crude oil prices are retreating after reaching fresh three-month highs. The West Texas Intermediate crude hit an intraday high of $123.66, and now is trading at around $119.38. The initial price rally came after the OPEC+ reported that it produced a total of 28.5 million barrels per day in May, …

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• 14 June 2022 10:23 pm

  ECB closely monitors current market developments

  

  European Central Bank Governing Council member Isabel Schnabel said on Tuesday that the monetary policy can and should respond to a disorderly repricing of risk premia, as reported by Reuters.Key Quotes“We will react to new emergencies with existing and potentially new tools.”“There can be no doubt that, if and when …

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• 14 June 2022 9:35 pm

  US shares surrendered around 3800 as investors await Fed’s decision

  

  US shares continue their rout, losing between 0.26% and 0.56%, except for the heavy tech Nasdaq Composite, which pares some of its losses, up by 0.25%.In terms of sector specifics, the leading gainers are Energy, up 1.9%, propelled by high oil prices, followed by Technology and Consumer Discretionary, each recording …

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• 14 June 2022 8:57 pm

  EUR/USD erases gains as US equities turn red

  

  The EUR/USD continue to pull back after the beginning of the US session and it is hovering around 1.0410, slight above Monday’s close. Earlier on Tuesday, the pair peaked at 1.0485 but then lost momentum as Wall Street turned to the downside and as US yields hit fresh highs.After a …

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• 14 June 2022 8:29 pm

  AUD/USD slides as investors await Fed’s rate hike

  

  The Australian dollar plunges to fresh four-week lows after news that the Federal Reserve would hike 75 bps in the June meeting, the largest since 1994.The Fed’s move is meant to address the US hot inflation that hit 8.6%, with no signs of abating in the near term. After reaching …

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• 14 June 2022 8:12 pm

  GBP/USD drops below 1.2000 for the first time since March 2020

  

  The GBP/USD pair hit levels under 1.2000 for the first time since March 2020. The pound remains under pressure even as market participants and traders expect a rate hike from the Bank of England on Thursday.The pound weakened earlier on Tuesday following UK employment data. Brexit concerns and also the …

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• 14 June 2022 7:50 pm

  EUR/GBP hits highest level in a year

  

  The EUR/GBP pair has broken multi-day range and jumped to 0.8681, hitting the highest level since May 2021; rising almost a hundred pips on Tuesday, and surging for the third day in a row. The Euro is also rising versus the Swiss franc on Tuesday. EUR/CHF climbed above 1.0420 reaching …

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