Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 8 June 2022 3:06 pm

  OECD Slashes Global Growth Forecasts

  

  The Organisation for Economic Co-operation and Development (OECD) announced today cutting its global growth predictions for 2022 to 3% due to the Russia-Ukraine war repercussions and the supply-chain disruptions. In its latest review, published today, OECD sees global GDP growth of 3.0% in 2022 versus 4.5%, predicted before. Besides, OECD …

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• 8 June 2022 1:09 pm

  Eurozone Final GDP arrives at 0.6% QoQ

  

  The Eurozone economy expanded by 0.6% on the quarter in the three months to March of 2022 vs. 0.3% prior, the final revision confirmed on Wednesday. The market consensus was for a reading of 0.3% in the reported period. On an annualized basis, the bloc’s GDP rate rose by 5.4% …

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• 8 June 2022 1:05 pm

  European shares fall under pressure

  

  European shares fell on Wednesday, quickly giving up gains at the open, as a 6% drop in Credit Suisse shares after an earnings warning put pressure on the banking sector, while metal prices also pressured mining stocks. The pan-European Stoxx 600 index fell 0.1 percent, after rising at the opening …

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• 8 June 2022 12:33 pm

  Japan’s Nikkei closed at its highest level in two and a half months

  

  Japan’s Nikkei closed at its highest level in two and a half months, as major technology stocks tracked gains in Wall Street overnight and energy stocks rose, led by higher oil prices. The Nikkei rose 1.04 percent to 28,234.29 points, its highest close since March 29, and it continued a …

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• 8 June 2022 11:59 am

  Oil prices rise ahead of US stockpile data

  

  Oil prices rose on Wednesday before the release of data on US oil inventories, as tight supplies and increased demand for fuel supported crude futures contracts, while major Chinese cities eased restrictions imposed to contain the Covid-19 pandemic. Brent crude futures for August rose 22 cents, or 2 percent, to …

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• 8 June 2022 3:10 am

  Market Drivers – US Session – Tuesday 7 June

  

  Risk aversion has been the one big title for financial markets during the North American trading session. The US dollar slid against major rivals in the last trading session of the day. Lower Treasury yields hindered demand for the dollar because the 10-y note yields 2.97%, after peaking earlier in …

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• 8 June 2022 2:51 am

  Gold stabilizes above $1,850 on weaker USD

  

  Gold price has exhibited a minor correction after recording a high around $1,856.00 on Tuesday, but strongly stabilized above the crucial resistance of $1,850.00 as the US dollar index slipped sharply. The precious metal has been advancing higher gradually after hitting a low of $1,837.06 and is expected to extend …

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• 8 June 2022 2:44 am

  Major Ukrainian Commodity Terminal Destroyed In Russian attack

  

  Russian bombs destroyed the warehouses of one of the largest terminals for agricultural commodities at Mykolaiv port, authorities said on Tuesday.The attack coincided with Turkey’s attempt to develop a plan, supported by the United Nations, to start grain exports from Ukraine’s ports, and ahead of meetings on Wednesday by the …

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• 8 June 2022 1:49 am

  New US Draft Law classifies digital assets as commodities

  

  A widely anticipated crypto regulation was unveiled on Tuesday. The draft law provides some long awaited clarity for crypto markets and provided definitions for most digital assets as commodities, giving most of the oversight to the Commodity Futures Trading Commission.Known as the Responsible Financial Innovation Act, the draft law was …

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• 8 June 2022 1:14 am

  EUR/USD climbs to 1.0700 of the ECB policy decision

  

  EUR/USD climbs to 1.0700 of the ECB policy decision The EUR/USD has pared some of Monday’s losses and is now testing the 50-day moving average to the upside on Tuesday during the North American session. At 1.0709, the EUR/USD pair exchanges hands on top of the previously-mentioned DMA at the …

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• 8 June 2022 12:03 am

  AUD/JPY running into monthly resistance

  

  The AUD/JPY pair is running into monthly resistance but prior highs near 102.80 will be eyed if the bulls stay within the current course. The yen is suffering a central bank deviation blow and a potential course shift. While investors worry over decades-high inflation, the Bank of Japan has decided …

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• 7 June 2022 11:14 pm

  Gold Trapped Below Critical Resistance

  

  At $1,850.06, the gold price is 0.45% higher and trading between a low of $1,837.06 and a high of $1,853.63 on the day so far. The markets are fairly volatile as traders weigh the indecisive outlook for global growth, the latest of which comes from the World Bank.”Global economic growth …

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• 7 June 2022 10:40 pm

  Sec. Yellen to senators: US faces “unacceptable levels of inflation”

  

  The United States faces “unacceptable levels of inflation” and an appropriate budgetary stance is needed to help dampen inflationary pressures without undermining the economy, Treasury Sec. Janet Yellen told senators on Tuesday.At a Senate Finance Committee hearing, Yellen pushed back against Republican assertions that the highest inflation in 40 years …

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