Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 18 July 2022 2:30 am

  Financial Markets’ Weekly Recap – July 11-15

  

  The US dollar surged to two-decade highs between Wednesday and Thursday after panic across markets that the Fed might decide a record 100-basis point rate hike next to suppress fresh four-decade highs in consumer prices which constitute a threat later downplayed by the US monetary policymakers.On Friday, the US Census …

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• 16 July 2022 3:38 am

  Market Drivers – US Session – Friday, July 15

  

  Following a meeting with Crown Prince Mohammed bin Salman in Jeddah, though US president Joe Biden said he expected Saudi Arabia to take further steps to increase the oil supply in the coming weeks, oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output …

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• 16 July 2022 3:20 am

  Oil rises 2% as no immediate Saudi output hike expected

  

  Oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.The comment during US President Joe Biden’s visit to the kingdom comes at a time when …

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• 16 July 2022 2:48 am

  US Dollar edges lower as Fed’s rate decision eyed

  

  The dollar slid lower on Friday as investors evaluated how high the Fed is likely to raise interest rates by when it meets later in July. Investors also took profits after a strong USD’s rally that sent the American currency to a two-decade high.The dollar has jumped as the Fed …

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• 16 July 2022 2:28 am

  USD/JPY continues rallying for seventh week

  

  The USD/JPY has gained 1.80% in the week, extending its rally to the seventh consecutive week. The USD/JPY retreats from highs at around 139.38, towards the middle of the 138.00-139.00 range on Friday, as Wall Street closes the week with gains between 1.83% and 2.15%, underpinned by positive data that …

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• 16 July 2022 1:12 am

  US adds new oil drilling rigs

  

  Active drilling rigs in the US rose by 4 to 756, the highest since March 2020 and 56% more than a year ago, according to the latest weekly survey from Baker Hughes.Drilling rigs targeting crude oil gained 2 to 599, also the most since 2020, and gas rigs were unchanged …

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• 15 July 2022 11:34 pm

  US equities benefit from better than expected data

  

  US equities surged on Friday, bringing a positive end to a seemingly disappointing week, as strong retail sales data and a survey hinting at easing inflation expectations tempered concerns over the economic outlook.Ealier on the day, Europe’s Stoxx 600 equity index closed 1.8 per cent higher. The S&P 500 share …

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• 15 July 2022 10:16 pm

  USD/CAD slides from weekly highs

  

  The USD/CAD pair extends its decline from weekly highs around 1.3220s reached on Thursday, spurred by elevated US PPI data, which showed that inflation is far from peaking, triggering an uptick in expectations of a Fed 100 bps hike, which later eased as Fed policymakers pushed back against those assumptions.The …

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• 15 July 2022 8:51 pm

  US Consumer Confidence: Inflation expectations cooled

  

  University of Michigan’s Consumer Confidence July report has showed an unexpected modest rebound in the main index. Inflation expectations are cooled. This could represents welcome news for Fed’s policymakers and it makes the pressure to go big at the next FOMC meeting less intense after this week’s scorching CPI reading.At …

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• 15 July 2022 7:56 pm

  Bitcoin recovers but traders still cautious

  

  Bitcoin breached the important $20,000 resistance level and surged past $20,600 on Friday. However, traders are still cautious because the US Fed is expected to boost interest rates by as much as 75-100 basis points in an effort to cool down the country’s spiking inflation, which would make riskier assets, …

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• 15 July 2022 7:10 pm

  Fed’s Daly: Not concerned about debate on rate hikes

  

  San Francisco Fed President Mary Daly said on Friday that she is not concerned above “over cooking things” on rate hikes. Daly also noted that US consumers continue to spend and that the labour market is still robust.However, Daly mentioned that “Inflation is too high” and that the Fed is …

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• 15 July 2022 4:52 pm

  The dollar index fell but heading to record its third weekly gain

  

  The dollar index fell during Friday’s trading, but it is heading to record its third weekly gain, benefiting from its strong rise throughout the week, with increasing expectations of a rate hike by the Federal Reserve. The index is up 4% in the past three weeks, marking its biggest gain …

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• 15 July 2022 3:56 pm

  A strong rise in cryptocurrency

  

  The markets have recently witnessed a number of turbulence that affected the risk appetite of investors, by the negative data such as the recent inflation and unemployment data, in addition to the cautious anticipation of the upcoming Federal Reserve meeting with expectations of raising interest rates by 100 points, which …

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