Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 22 July 2022 12:13 am

  Fed’s meeting will be decisive for gold price

  

  Gold price falls back into the hands of the bulls following the ECB’s rate policy decision. The Gold Index is now at a critical stage in the bearish cycle where a significant correction could play out. Next week’s Fed meeting will be very important for rate and gold traders. Gold …

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• 21 July 2022 10:45 pm

  USD/CHF Benefits From Improved Market Sentiment

  

  The USD/CHF pair is still upward biased, but in the short-term might aim towards 0.9600. the improved market sentiment dented demand for the US dollar, and constitutes a remarkable headwind for the asset.The USD/CHF slides for the second day in four retreats below 0.9700, amidst an improved market mood weighing …

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• 21 July 2022 9:36 pm

  How Does Bitcoin React To $930M Tesla’s Bitcoin Sale?

  

  Bitcoin staged its first test of critical support on Thursday July 21 as the impact of the news headline that Tesla liquidated most of its Bitcoin holdings diminished. The BTC/USD pair is focusing on the $22,800 zone after dropping from multi-week highs of $24,280. The pair had swiftly reacted but …

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• 21 July 2022 8:50 pm

  EUR/USD fundamentally overvalued

  

  The European Central Bank raised the key interest rates on Thursday for the first time in 11 years. Analysts at Danske Bank expect the central bank to hike another 100bp this year, before halting its cycle. They still prefer the idea of selling ECB-induced euro rallies.Key Quotes: “EUR/USD initially rallied …

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• 21 July 2022 8:04 pm

  Wells Fargo: ECB Deposit Rate to reach 1.00% by the end of 2022

  

  The European Central Bank raised key interest rates on Thursday by 50 bps. The move was larger than expected. Analysts at Wells Fargo believe inflation remains elevated enough, and inflation risks worrisome enough, to continue with a more forceful pace of rate hikes for the time being. Key Quotes: “As …

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• 21 July 2022 7:29 pm

  USD/CAD dropped on a volatile session

  

  The USD/CAD pair reversed and dropped back below 1.2900 during Thursday’s volatile session for financial markets following the European Central Bank meeting policy decision and US data.The rejection from above 1.2900/05 (horizontal levels, and 20 and 200 Simple Moving Average in four-hour chart) reinforced the bearish short-term bias. If USD/CAD …

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• 21 July 2022 5:07 pm

  ECB’s Lagarde: Inflation risk has intensified

  

  Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions following the bank’s decision to hike key rates by 50 basis points. “Energy costs should stabilise, bottlenecks ease.”“Wage growth has continued to increase gradually, including forward-looking indicator.”“Wage growth is …

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• 21 July 2022 5:03 pm

  Weekly Initial Jobless Claims rise to 251K

  

  There were 251,000 initial jobless claims in the week ending July 16, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 244,000 and came in worse than the market expectation of 240,000. Further details of the publication …

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• 21 July 2022 5:01 pm

  ECB hikes key rates by 50 basis points

  

  The European Central Bank (ECB) announced on Thursday that it raised its key rates by 50 basis points (bps) following the July policy meeting. Markets were expecting the bank to hike its rates by 25 bps. With this decision, the interest rate on the main refinancing operations and the interest …

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• 21 July 2022 4:28 pm

  CBRT keeps interest rates unchanged for the seventh time in a row

  

  Turkey’s central bank kept interest rates unchanged for the seventh time in a row, despite Turkey’s inflation and its currency falling against the dollar to its lowest level since December. The Turkish Central Bank fixed the interest rate on the Turkish lira during the “repo” week of July at 14%, …

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• 21 July 2022 3:24 pm

  Ukraine devalues its currency by 25% against USD

  

  Ukraine’s central bank has devalued the country’s hryvnia currency by 25% against the US dollar to help the country deal with the growing economic impact of the war with Russia. The Central Bank of Ukraine said in a statement that it set the new hryvnia rate at 36.5686 to the …

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• 21 July 2022 1:41 pm

  Oil continues its losses and the impact of demand concerns outweighs the lack of supplies

  

  Oil prices fell for the second consecutive session Thursday, July 21, as demand concerns outweighed concerns about tight global supplies after US government data revealed weak gasoline consumption in the peak summer travel season. Brent crude futures fell 33 cents, or 0.3%, to $106.59 a barrel, after falling 0.4% in …

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• 21 July 2022 1:23 pm

  Italian stocks lead a decline in Europe as the political crisis worsens

  

  Italy’s stock index fell nearly 2% on Thursday as the government collapsed, putting pressure on broader European shares, despite some relief from the resumption of Russian gas imports. The Italian presidency said in a statement that Prime Minister Mario Draghi submitted his resignation on Thursday to President Sergio Mattarella, who …

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