Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 6 July 2022 7:08 pm

  ISM Services PMI retreats below expectations

  

  The ISM Services PMI in June retreated to 55.3 from 55.9 in May, showing that the business activity in the service sector expanded at a slightly softer pace. This data, however, came in better than the market expectation of 54.5.“The slight slowdown in services sector growth was due to a …

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• 6 July 2022 4:49 pm

  Gold near its lowest level since December as the dollar rises

  

  Gold prices fell to near seven-month lows on Wednesday, as the dollar’s strength and expectations of a rate hike hurt the non-yielding metal. Spot gold fell 0.2 percent to $1,760.90 an ounce by 1053 GMT, after dropping about 2.6 percent on Tuesday. US gold futures fell 0.3 percent to $1,759.00 …

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• 6 July 2022 3:13 pm

  Turkish lira drops 1% on renewed concerns about inflation and monetary policy

  

  The Turkish lira fell again on Wednesday, continuing losses for the seventh day, due to the rise of the dollar and investors’ fears of rising inflation and the policies applied to deal with the economic crises in the country. The lira fell one percent against the dollar to record 17.2 …

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• 6 July 2022 1:49 pm

  Oil is rebounding after a sharp decline

  

  Oil prices rose about 3% today, Wednesday, before giving up some of their gains as investors turned to the market, after a sharp decline in the previous session, as concerns related to supplies returned, with concerns of a global recession continuing. Brent crude futures rose as much as $3.08, or …

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• 6 July 2022 1:16 pm

  European shares rise as oil workers’ strike ends in Norway

  

  European shares rose on Wednesday after oil and gas workers in Norway called off their strike, quelling fears of an energy supply shortage, while shares of Just Eat Tekaway.com rose after Amazon agreed to buy a stake in its unit GroupHub. The pan-European STOXX 600 index rose 1.3 percent by …

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• 6 July 2022 12:27 pm

  Japan shares fall on economic slowdown fears

  

  Japan’s Nikkei index closed lower on Wednesday after a two-day rally, dragged down by energy stocks, as fears of a global economic slowdown weighed on the market. The Nikkei index fell 1.20 percent to close at 26,107.65 points. The broader Topix index fell 1.23 percent to 1,855.97 points. Shares of …

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• 6 July 2022 12:06 pm

  German Factory Orders unexpectedly rise 0.1% MoM in May

  

  The German Factory Orders rebounded in May, suggesting that the manufacturing sector downturn in Europe’s economic powerhouse is flattening. Contracts for goods ‘Made in Germany’ jumped by 0.1% on the month vs. -0.6% expected and -2.7% last, the latest data published by the Federal Statistics Office showed on Wednesday. On …

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• 6 July 2022 2:54 am

  Market Drivers – US Session – Tuesday, July 5

  

  Global recessionary fears have impacted most sectors across financial markets. The US dollar obviously benefited from the risk-aversion and soared entrenching the dollar’s safe haven status. The risk of a US recession is above 70%, according to most analysts. The inversion of Treasury yield curve also does add to those …

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• 6 July 2022 2:25 am

  Gold sinks to six-month low on stronger US dollar

  

  Gold is under further pressure below a key monthly trendline and continues to get deeper in the red territory. Gold prices slumped to their lowest in more than six months on Tuesday, as the US dollar rallied amid growing recession concerns that caused losses across risk assets.Extra fears stem from …

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• 6 July 2022 12:54 am

  Treasury yield curve inverts as recession fears accelerate

  

  US Treasury yields tumbled on Tuesday on what is widely seen as a recession alert and a key part of the yield curve inverted for the first time in three weeks as concerns about economic growth injured risk appetite, bringing about increased demand for the safe haven US debt.Fears of …

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• 5 July 2022 11:22 pm

  Resigned Afolami calls for Boris Johnson to step down

  

  More news is coming out of 10 Downing Street, as the vice-chair of the UK Conservative Party, Bim Afolami resigned and calls for Boris Johnson to step down.Resignations en mass also included UK Parliamentary Private Secretary Saqib Bhatti, UK Parliamentary Private Secretary to Secretary of State for North Ireland Jonathan …

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• 5 July 2022 10:47 pm

  WTI Crude sharply Drops To $97

  

  WTI crude oil drops as the US dollar gains are entrenched. Bulls have mentioned that product inventories are at critically low levels, which suggests restocking will keep crude oil demand strong.Oil price is down by 10.6% on the day after falling from a high of $111.42 to a low of …

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• 5 July 2022 10:05 pm

  Resignations Quake UK’s 10 Downing Street

  

  UK political Tory resignations are dropping like rain because of widespread feeling of incompetence on the part of the Prime Minister Boris Johnson. So far, the pound is holding up after the initial 12 pip move to the downside vs the US dollar. The first was the British Health Secretary …

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