Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 28 June 2022 11:41 pm

  GBP/USD retreats despite disappointing US data

  

  The British pound extends its losses to two successive days, trading below the 1.2200 mark, after touching a daily 1.2300 high mark and even retreating towards the 1.2190s area in the US trading session. The GBP/USD pair is trading at 1.2189.Market sentiment shifted sour after the disappointing US Consumer Confidence …

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• 28 June 2022 10:58 pm

  T-yields unchanged as investors digest latest economic data

  

  The yield on the benchmark 10-year Treasury note was little changed at 3.2%. Meanwhile, the yield on the 30-year Treasury bond gained just over 1 basis point to trade at 3.313%. Yields move inversely to prices.Traders and investors have become increasingly concerned about the anticipated recession in recent weeks as …

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• 28 June 2022 10:14 pm

  Fed’s Daly: Inflation reins the US economy

  

  On Tuesday, San Francisco Federal Reserve Bank President Mary Daly said she believes the US economy will slow to below 2% annual growth as the central bank hikes interest rates, but there will be enough momentum that it will not stop growing.“I do expect the unemployment rate to rise slightly, …

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• 28 June 2022 9:28 pm

  CAD surges on eased Covid-linked restrictions

  

  The Canadian dollar strengthens 0.3% against its American counterpart on Tuesday. The CAD has touched its strongest level since June 13 at 1.2820.Easing COVID-linked restrictions in China boosted the investors’ sentiment. Global shares were higher and the price of oil, one of Canada’s major exports, rose following China’s decision to …

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• 28 June 2022 8:47 pm

  Gold pressured ahead of Powell’s speech

  

  The Gold Index prolonged its losses for the second successive day. Gold is struggling to stay above the $1820 mark amidst the prevalent positive market sentiment that witnessed a jump in riskier assets, weighing on safe-haven assets, particularly in the precious metal segment.Gold trades at $1820.72, recording minimal losses of …

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• 28 June 2022 8:04 pm

  EUR/USD drops to multi-day lows

  

  The US dollar gains momentum during the US trading session whereas the Euro records fresh lows versus the dollar, the Swiss Franc and British pound.Stocks have erased some gains in Wall Street. The EUR/USD pair dropped further and bottomed at 1.0501, the lowest level since Thursday. It then trimmed losses, …

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• 28 June 2022 7:49 pm

  CB Consumer Confidence Index Drops To 98.7 In June

  

  Consumer confidence in the US continued to weaken in June. The US Dollar Index clings to strong daily gains near mid-104.00s.The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index dropped to 98.7 in June from 103.2 in May. This print came in weaker than …

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• 28 June 2022 6:40 pm

  US Treasury Department: Will prohibit Russian gold imports under latest sanctions

  

  The United States will prohibit Russian gold imports in the latest round of sanctions according to the Treasury Department. The Department announced this news on its website on Tuesday.The market has not reacted to this news headline yet. The Gold Index was down 0.15% on the day at $1,820.Additional takeaways“US …

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• 28 June 2022 6:10 pm

  The dollar rises in Asian trading as investors search for a safe haven

  

  The dollar and the yen rose in a volatile session in Asia on Monday, as they benefited from a search for safe haven amid investor concerns that higher interest rates and weak economic data could mean a global recession is on the horizon. While stocks tracked Wall Street higher, currency …

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• 28 June 2022 5:07 pm

  OPEC Boosts Oil Income in 2021, Well Completions Drop

  

  OPEC’s oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID pandemic, while the number of its members’ active rigs posted a modest rebound and new completed wells declined, data from the group showed. The value of petroleum exports by the 13-member Organization of …

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• 28 June 2022 4:11 pm

  Moody’s agency confirms Russia’s default on foreign debt

  

  Moody’s, a credit rating agency, confirmed that Russia had defaulted on its foreign debt for the first time in 100 years after bondholders confirmed they had not received an interest payment of $100 million. Moody’s said Russian sovereign debt holders had not received their $100 million euro bond payment coupons …

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• 28 June 2022 3:46 pm

  The G7 agrees to study a ceiling on the price of Russian oil

  

  G7 leaders agreed to consider a ban on the transport of Russian oil being sold above a certain price, according to part of the final statement seen by Reuters. “We invite all like-minded countries to consider joining us in what we are doing,” the G7 leaders said.

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• 28 June 2022 2:31 pm

  Oil extends gains as major producers signal production limits

  

  Oil prices rose for a third day in a row on Tuesday as major producers such as Saudi Arabia and the United Arab Emirates seem unlikely to be able to increase production significantly, while political turmoil in Libya and Ecuador heightened supply concerns. The price of US West Texas Intermediate …

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