Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 14 June 2022 8:12 pm

  GBP/USD drops below 1.2000 for the first time since March 2020

  

  The GBP/USD pair hit levels under 1.2000 for the first time since March 2020. The pound remains under pressure even as market participants and traders expect a rate hike from the Bank of England on Thursday.The pound weakened earlier on Tuesday following UK employment data. Brexit concerns and also the …

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• 14 June 2022 7:50 pm

  EUR/GBP hits highest level in a year

  

  The EUR/GBP pair has broken multi-day range and jumped to 0.8681, hitting the highest level since May 2021; rising almost a hundred pips on Tuesday, and surging for the third day in a row. The Euro is also rising versus the Swiss franc on Tuesday. EUR/CHF climbed above 1.0420 reaching …

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• 14 June 2022 7:21 pm

  Fed Decision Preview: Forecasts by twelve major banks

  

  The US central bank will announce its monetary policy decision on Wednesday, June 15. As markets get closer to the release time, twelve major banks published their forcasts. The Federal Reserve is the world’s most powerful central bank and is expected to go off-script through hiking rate by up to …

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• 14 June 2022 6:04 pm

  US bond yields paring gains

  

  US Treasury yields fell on Tuesday, paring part of the substantial gains made in the previous session, as investors assessed the possibility of the Federal Reserve taking a more aggressive step in its fight to bring down inflation. The annual pace of inflation in the US rose to 8.6% in …

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• 14 June 2022 5:40 pm

  OPEC sticks to its expectations that demand for oil will exceed pre-pandemic levels this year

  

  OPEC maintained its forecast that global oil demand will exceed pre-coronavirus levels in 2022, but said that the Russian invasion of Ukraine and pandemic developments pose a significant risk. In a monthly report released on Tuesday, the Organization of the Petroleum Exporting Countries stuck to its forecast that global oil …

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• 14 June 2022 4:35 pm

  Reuters: OPEC expects global oil demand growth to slow in 2023

  

  Global oil demand growth will slow in 2023 as higher crude and fuel prices push up inflation and slow the global economy, delegates from OPEC and industry sources said. Fuel use has rebounded after falling due to the coronavirus pandemic in 2020 and is on track to surpass 2019 levels …

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• 14 June 2022 3:20 pm

  Reuters poll: SNB to hold fire this week, a 25 bps September rate hike likely

  

  A majority of the economists polled by Reuters revealed on Tuesday, the Swiss National Bank (SNB) is unlikely to change its negative interest rate policy this Thursday even as the country’s inflation rate remains at a 14-year high. “Twenty-four of 26 economists expect the SNB to keep its policy rate …

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• 14 June 2022 2:13 pm

  Russia becomes India’s second-largest oil supplier

  

  Data from trade sources showed that Russia became India’s second-largest supplier of oil in May, pushing Saudi Arabia to third place, with Iraq remaining its largest supplier. The data indicated that Indian refineries received in May about 819,000 barrels per day of Russian oil, the highest level so far from …

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• 14 June 2022 1:23 pm

  Oil prices rise as supply shortage worsens

  

  Oil prices rose by about $1 in volatile trade on Tuesday, June 14, as the impact of global supply shortages outweighed fears that fuel demand would be hit by a recession and new restrictions imposed to contain the spread of Covid-19 in China. The price of US West Texas Intermediate …

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• 14 June 2022 1:11 pm

  Nikkei falls for a third day amid fears of US inflation and Covid-19 in China

  

  Japan’s Nikkei fell on Tuesday for the third consecutive day amid concerns about growth linked to the tightening of US monetary policy and the imposition of strict restrictions to combat the spread of COVID-19 in China. The Nikkei closed down 1.32 percent at 26,629.86 points, after falling 2.19 percent earlier …

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• 14 June 2022 12:26 pm

  European shares stabilize after selling due to inflation fears

  

  European shares rose about one percent on Tuesday, as investors bought shares that fell sharply after the intense selling in the previous session caused by fears of a large US interest rate hike and a possible economic recession. The pan-European Stoxx 600 index was up 0.9 percent by 0705 GMT, …

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• 14 June 2022 11:20 am

  German Inflation Hits Five-Decade High

  

  Germany’s inflation rate, measured by the annual change in the consumer price index, rose 7.9% in May 2022, bringing the inflation rate to an all-time high for the third consecutive month since German reunification. The main reason for higher inflation is still higher energy prices, but George Thiel, head of …

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• 14 June 2022 10:38 am

  Gold hovers near 4-week low before Fed meeting

  

  Gold prices rose on Tuesday from a four-week low, as a halt in the dollar’s rally and US Treasury yields provided some support, but gains were limited by increasing bets that the Federal Reserve will tighten monetary policy significantly. And the price of gold in spot transactions rose 0.3 percent …

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