Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 24 June 2022 1:31 pm

  German IFO Business Climate Index drops to 92.3 in June

  

  The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month’s 93.0 and the consensus estimates of 92.9. Meanwhile, the Current Economic Assessment eased to 99.3 points in the reported month as compared to May’s 99.5 and 99.1 anticipated. The IFO Expectations Index – indicating firms’ projections …

  Read More »
• 24 June 2022 1:28 pm

  Dollar stumbles on interest rate fears

  

  The US dollar fell against major currencies on Friday, on track for its first weekly loss this month, as investors continue to assess Federal Reserve policy and whether large interest rate increases will lead to a recession. The safe-haven US currency also lost support amid improving market sentiment, rising regional …

  Read More »
• 24 June 2022 1:26 pm

  European shares rise, supported by utilities at the end of a turbulent week

  

  European shares rose on Friday, boosted by the utilities and healthcare sectors after hitting their lowest level in 2022, as investors turned to safer bets amid growing fears of tight monetary policies and rising inflation that could result in a global recession. At the end of a week that witnessed …

  Read More »
• 24 June 2022 12:25 pm

  Japan shares rise, supported by the technology sector

  

  Japanese stocks rose on Friday, with the technology sector leading the gains following big gains on Wall Street in the evening, and sentiment was supported by the Bank of Japan’s accommodative monetary policies. The Nikkei index rose 1.23 percent to 2,6419.97 points at the close. The index achieved a weekly …

  Read More »
• 24 June 2022 11:33 am

  Cisco, Nike quit Russia, as pace of Western firms leaving speeds up

  

  US companies Cisco Systems and Nike told Reuters on Thursday that they will exit the Russian market entirely, as the pace of Western companies’ exit from Russia accelerates after its invasion of Ukraine in February. Cisco, the maker of telecom equipment, said it was ending its business in Russia and …

  Read More »
• 24 June 2022 11:27 am

  Gold is heading for its second weekly loss on fears of a hike

  

  Gold prices stabilized on Friday, but they are heading to record the second weekly decline in a row, as the demand for the yellow metal was affected by fears that the major central banks might raise interest rates significantly to confront hyperinflation. And gold rose in immediate transactions 0.1 percent …

  Read More »
• 24 June 2022 11:25 am

  Oil moves in a narrow range on fears of slowing demand and supply uncertainty

  

  On Friday, oil prices moved in a narrow range after briefly rising around $1 a barrel, as the market weighed fears of slowing demand due to lower economic activity in the United States and uncertainty surrounding supplies. Brent crude futures fell five cents, or 0.1 percent, to $110 a barrel …

  Read More »
• 24 June 2022 2:45 am

  Market Drivers – US Session – Thursday, June 23

  

  Recession-linked Fears are supporting the US dollar, which ended the day with gains. The focus remained on hot inflation and potential recessions among major world economies.Economic Data The EU flash S&P Global PMIs for June painted a gloomy picture as EU economic activity hit a 16-month low, reflecting a stalling …

  Read More »
• 24 June 2022 1:50 am

  Gold futures retreat on stronger US dollar

  

  Gold futures closed lower on Thursday, with prices for the precious metal down a fourth straight session. Losses for gold are “mainly due to the strength in the dollar, as the US Fed is expected to adopt even more hawkish monetary policyIn testimony before the House Financial Services Committee Thursday, …

  Read More »
• 24 June 2022 1:16 am

  EUR/USD edges lower amid recession clouds

  

  The EUR/USD pair trimmed most of its weekly gains on Thursday, hovering around 1.0530. The US dollar benefited from a souring market sentiment. The negative sentiment was triggered by more comments by Fed Chair Jerome Powell and macroeconomic data pointing to a sharp economic slowdown.The flash S&P Global PMIs for …

  Read More »
• 24 June 2022 12:46 am

  Fed’s annual bank stress test tougher than 2021

  

  The Federal Reserve Board on Thursday released the results of its annual bank stress test showing that banks continue to have strong capital levels, allowing them to continue lending to households and businesses during a severe recession.All banks tested remained above their minimum capital requirements, despite total projected losses of …

  Read More »
• 23 June 2022 11:07 pm

  Ukraine wins candidate status in bid to gain EU membership

  

  In what will be a long rd to membership, Ukraine has won its candidate status in a bid to gain EU membership.EU leaders have accepted both Ukraine and Moldova as membership candidates of the European Union, European Council President Charles Michel said on Thursday evening.“Agreement. #EUCO has just decided EU …

  Read More »
• 23 June 2022 10:34 pm

  CAD drops as hot inflation triggers criticism against BoC

  

  The Bank of Canada has been slammed by critics after misjudging inflation and locking itself into rigid forward guidance that prevented it from reacting swiftly as prices surged and Canada’s economy began to overheat.THE Canadian dollar dips 0.1% against the US dollar. Flash estimate shows factory sales falling 2.5% in …

  Read More »