Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 29 July 2022 4:10 pm

  Shell ADR Earnings, Revenue Beat in Q2

  

  Shell ADR reported on Thursday’s second-quarter earnings that beat analysts’ forecasts and revenue that topped expectations. Shell ADR announced earnings per share of $3.06 on revenue of $100.06B. Shell ADR shares are up 18.48% from the beginning of the year, still down 16.63% from its 52 week high of $61.67 …

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• 29 July 2022 3:32 pm

  Russia: Committed to the goals of OPEC+

  

  The Russian government said in a statement on Friday that it and Saudi Arabia remain firmly committed to the goals of the OPEC+ agreement to maintain market stability and balance supply and demand in global oil markets. Russian Deputy Prime Minister Alexander Novak met with Saudi Energy Minister Prince Abdulaziz …

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• 29 July 2022 2:22 pm

  Eurozone Preliminary GDP expands 0.7% in Q2

  

  The Eurozone economy expanded by 0.7% on the quarter in the three months to June of 2022, beating 0.2% expected and 0.6% previous, the preliminary release showed on Friday. On an annualized basis, the bloc’s GDP rate rose by 4.0% in Q2 vs. 5.4% booked in the first quarter of …

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• 29 July 2022 1:32 pm

  Eurozone Preliminary Inflation surges 8.9% YoY in July

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) accelerated by 8.9% in July vs. June’s 8.6%, the latest data published by Eurostat showed on Friday. The market consensus was for an 8.6% figure. The core figures rose to 4.0% YoY in July when compared to 3.8% expectations and 3.7% …

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• 29 July 2022 1:14 pm

  Yen is heading for the largest weekly gain in 4 months against USD

  

  The Japanese yen rose on Friday, set for its biggest weekly gain in four months against the dollar on bets that US interest rates are nearing a peak after data on Thursday showed that the world’s largest economy unexpectedly contracted in the second quarter. Futures markets expect US interest rates …

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• 29 July 2022 12:11 pm

  European shares set for best month since November 2020 thanks to strong earnings

  

  European shares rose on Friday, set for their first monthly gain in four months as solid corporate earnings overshadowed global recession fears. Meanwhile, the focus now turned to eurozone inflation and gross domestic product data due later on Friday. The pan-European STOXX 600 index rose 0.7 percent by 0715 GMT, …

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• 29 July 2022 11:28 am

  Gold is heading for its best week in 5 months with weak dollar

  

  Gold prices rose on Friday as the dollar and bond yields continued to decline in the wake of US economic data, setting the yellow metal on course for its best week in nearly five months. By 0616 GMT, gold in spot transactions increased 0.6 percent to $ 1766.08 an ounce. …

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• 29 July 2022 10:58 am

  Oil stabilizes with tight supplies, eyes turn to OPEC+ meeting

  

  Oil prices settled at a high level in Asian trade on Friday, July 29, supported by supply concerns and with the focus shifting to the next meeting of the OPEC + bloc, though recession fears limited the gains. West Texas Intermediate crude futures for September delivery rose 38 cents, or …

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• 29 July 2022 4:05 am

  Market Drivers – US Session – Thursday, July 28

  

  Financial markets witnessed another volatile trading session on Thursday. Most markets were literally struggling for obvious direction. The US dollar was under pressure during Asian trading hours, resurged during the European session and was put again under pressure in the American afternoon.Safe-haven assets were the best performers against the US …

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• 29 July 2022 2:48 am

  WTI’s recovery still elusive below $98.00

  

  WTI crude oil prices pare recent losses around $96.50 during Friday’s Asian session. Oil once again attempted to penetrate a three-week-long symmetrical triangle after the previous day’s failed attempt.WTI buyers need a daily closing beyond the $98.00 comprising the stated triangle’s upper line and the 21-DMA, to keep reins. Following …

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• 29 July 2022 1:04 am

  Yellen: US economy was transitioning to ‘steady, sustainable’ growth

  

  Treasury Secretary Janet L. Yellen pointed out the robust labour market, high business and consumer spending and strong industrial output as signs of the economy’s health. US President Biden and Treasury Secretary Janet L. Yellen on Thursday dismissed questions about whether the US economy was already in a recession, pointing …

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• 29 July 2022 12:34 am

  Yen, Swiss franc draw safe-haven flows on US recession news

  

  Volatility erupted in the forex market after the US officially entered a technical recession in the second quarter of 2022 and Europe’s energy crisis keeps inflation sticky high. This development followed the Fed’s second consecutive 75-basis-point interest rate hike, for the first time since early 1980s.Today, currency flows shifted to …

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• 28 July 2022 11:44 pm

  EUR/USD falls despite negative US data

  

  The EUR/USD pair falls due to weaker than expected EU economic data, facing strong headwinds with the energy crisis, and slower economic growth. The US GDP in the second quarter showed signs of contraction, meaning the US is in a “technical recession”.Inflation in Germany tops around 8.6% YoY, while the …

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