Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 25 July 2022 9:33 pm

  OPEC+ 2.84 Million Bpd Below Oil Output Target

  

  The OPEC+ group had a huge deficit of 2.84 million barrels per day (bpd) in June between actual output and the target oil output level as part of the deal, so, the gap between nameplate output per the agreement and actual output continues to widen. OPEC+ pumped more than 2.5 …

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• 25 July 2022 8:49 pm

  AUD/USD climbs on soft US data

  

  The AUD/USD advances towards solid resistance around the 0.6970-90 area. Weak US economic activity and manufacturing data reported on Monday increase the chances of a US recession.The AUD/USD climbs during the North American session but faces solid resistance around the 50-day EMA around 0.6971, amidst an upbeat market mood, with …

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• 25 July 2022 8:07 pm

  Gold drops toward $1710 as market sentiment deteriorates

  

  Gold turns negative as market sentiment deteriorates. The Gold Index slides below $1720, rejected again from above $1730. Meanwhile, the US Dollar recovers momentum, erases losses.Gold prices failed to hold to gains on Monday, hit after Gazprom’s announcement that will slow flows on the Nord Stream 1 pipeline, triggering a …

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• 25 July 2022 7:20 pm

  Dallas Fed Manufacturing Index plunges below expectations

  

  Dallas Fed Manufacturing Index sharply fell again in July. The US Dollar Index received the news by trimming daily losses, and rises to 106.50. The headline General Business Activity Index of the Federal Reserve Bank of Dallas’s Manufacturing Survey plunged to -22.6 in July from -17.7 in June. This reading …

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• 25 July 2022 5:32 pm

  Ukraine is working to resume grain exports, Russia is bombing targets in the east

  

  Ukraine on Monday continued efforts to restart grain exports through Black Sea ports under a deal aimed at easing the global food shortage crisis, but said the weekend bombing of Odessa port by Russian forces posed a threat to shipments. As the war entered its sixth month, the Ukrainian military …

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• 25 July 2022 3:40 pm

  The dollar is declining and the currencies that involve risks are rising

  The dollar fell and the major rival currencies posted gains on Monday as risk appetite returned to the currency markets, while investors assessed the potential impact of an expected hike in US interest rates this week. The Federal Reserve indicated a 75 basis point rate hike at its meetings on …

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• 25 July 2022 2:20 pm

  EU countries rewrite plan to cut gas demand, seek carve-outs

  

  European Union countries are seeking to soften the bloc’s plan to require them to use less gas as Europe prepares for a winter of uncertain supplies from its main gas supplier Russia. The European Commission proposed last week that the 27 EU member states each cut their gas use by …

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• 25 July 2022 1:28 pm

  German IFO Business Climate Index plunges to 88.6 in July

  

  The headline German IFO Business Climate Index plunged to 88.6 in July versus last month’s 92.2 and the consensus estimates of 90.5. Meanwhile, the Current Economic Assessment dropped to 97.7 points in the reported month as compared to June’s 99.4 and 98.2 anticipated. The IFO Expectations Index – indicating firms’ projections for …

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• 25 July 2022 12:22 pm

  European shares slip on growth concerns

  

  European shares fell Monday, July 25, as investors assessed a raft of corporate earnings amid growth concerns, with focus on the US Federal Council meeting later this week. The pan-European Stoxx 600 index fell 0.2% by 07:11 GMT, amid widespread losses led by oil producers, as crude prices fell. Dutch …

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• 25 July 2022 11:12 am

  Nikkei halts 7-day rally and falls at close

  

  Japan’s Nikkei snapped a seven-day winning streak on Monday, dragged down by a decline in Wall Street in the previous session. Investors awaited US gross domestic product data and this week’s Federal Reserve meeting. The Nikkei index fell at the close 0.77 percent to close at 27,699.25 points, retreating from …

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• 25 July 2022 10:18 am

  The price of gold fell with the rise of the dollar

  

  Gold prices fell on Monday, July 25 after the dollar’s rise and expectations of a US Federal Reserve interest rate hike this week dampened gold demand. The price of gold fell 0.2% to $ 1724.50 an ounce as of 04:23 GMT, after rising to its highest level in more than …

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• 25 July 2022 4:52 am

  Financial Markets’ Weekly Recap – July 18-22

  

  The US dollar fell over the past week by more than 1.5%, and closed at 106.410 last Friday. The US Treasury yields declined, but the gap remains large between the two-year yields of 2.9721 and the 10-year yields of 2.754. Following the conclusion of its two-day policy review meeting on …

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• 23 July 2022 2:41 am

  Market Drivers – US Session – Friday, July 22

  

  The US yield curve is still inverted, this has continued for 14 successive days. Fragile market sentiment prevailed on Friday, as equities are seesawing, due to US S&P Global PMI data, flashing a contraction in the services sector and its Composite index, while traders seek safety towards US Treasuries, with …

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