Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 6 June 2022 2:05 pm

  Gold is consolidating near high levels

  

  Gold prices rose slightly on Monday, supported by a slight decline in the US dollar and US Treasury bond yields, but the outlook for the yellow metal price remained fragile in the face of interest rate hike prospects from major central banks. Spot gold rose 0.2 percent to $1,854.83 an …

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• 6 June 2022 1:10 pm

  Oil exceeds $120 after Saudi Arabia raises crude prices

  

  Oil futures rose above $120 on Monday after Saudi Arabia raised crude selling prices in July, indicating a tight supply even as the OPEC+ producers agreed to accelerate production increases over the next two months. Brent crude rose 68 cents, or 0.6 percent, to $ 120.40 a barrel by 0640 …

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• 6 June 2022 12:33 pm

  The Nikkei closed at its highest level in two months

  

  Japan’s Nikkei closed at a two-month high on Monday, as energy stocks rebounded on higher oil prices while technology firms rebounded. The Nikkei rose 0.56 percent to 27,915.89 points at the close, after it began the session falling to 27,523.95 points, after selling led by the technology sector on Wall …

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• 6 June 2022 4:15 am

  Financial Markets’ Weekly Recap, 30 May: 3 June

  

  Around the end of 2021, nobody was talking about a US recession, but now, the dreaded ‘recession’ word is on everybody’s lips. During the week, Tesla CEO Elon Musk voiced this fear using the “super bad feeling” phrase about the US economy. “Lots of luck on his trip to the …

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• 4 June 2022 3:24 am

  Market Divers – US Session – 3 June

  

  US equities finished the last trading session of the week with heavy losses, between 1.05% and 2.47%. Positive US jobs report further cemented the case for a US Federal Reserve rate hike of 50 bps in the June meeting, despite worries that the US central bank could cause a recession.Economic …

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• 4 June 2022 3:02 am

  Biden Ignores Elon Musk’s economic concerns, lauds Ford

  

  US President Joe Biden ignores Elon Musk’s fears about the US economy by pointing to latest investments made by the electric-carmaker’s competitors. Biden also took an indifferent situation at Musk saying “Lots of luck on his trip to the moon”.Biden, on Friday, warmly praised some of Musk’s competitors for expanding …

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• 4 June 2022 2:44 am

  Baker Hughes: US oil, gas drilling rigs unchanged this week

  

  US energy companies have kept oil and natural gas rigs unchanged this week as crude output slowly recovers from the impact of the coronavirus pandemic with many producers still more focused on returning money to shareholders.The oil and gas rig count, an early indicator of future output, were flat at …

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• 4 June 2022 1:53 am

  USD/CHF Advances as bulls eye 20-DMA

  

  On the week’s last trading day, the USD/CHF pair jumps from weekly lows erasing Thursday’s losses, the pair also gains 0.56% as the New York session gets closer to its end. The USD/CHF is trading at 0.9626, reflecting a downbeat mood and a strong US Dollar, underpinned by high US …

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• 4 June 2022 12:29 am

  US Shares slide after robust jobs data, renewed rate concerns

  

  The S&P 500 fell 1.6%, while the Dow Jones Industrial Average shed 350 points, or 1%. The Nasdaq Composite tumbled 2.5%. Meanwhile, the most notable move following the jobs report came from the bond market, with the yield on 10-year Treasury jumping as much as 7 basis points to near …

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• 3 June 2022 11:08 pm

  USD/CAD advances firmly towards 1.2600 after US economic data

  

  The USD/CAD pair is set to finish the week with losses of 1.09%, despite Friday’s recovery. Market sentiment remains negative as fears of a US recession accelerate.On the US front, the Federal Reserve officials begin their blackout period. However, investors’ eyes would be on the inflation report alongside the UoM …

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• 3 June 2022 10:56 pm

  GBP/USD slides lower after US economic data

  

  The GBP/USD pair prepares to finish the week with losses of almost 1% amid risk-off market mood and robust US employment data. The GBP/USD pair is seen struggling at 1.2600 and slides sharply below the 1.2500 figure after upbeat US economic data boosted the greenback, while UK traders remain on …

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• 3 June 2022 10:18 pm

  AUD/USD above 0.7200, amid stronger US dollar, risk-off

  

  The AUD/USD is ready to finish the week positive, up by 0.90%. The chance of a US Federal Reserve 0.50% rate hike in September lies at 80%. The Australian dollar slumps during the last day of the week but it obstinately remains above the 0.7200 threshold as AUD/USD sellers mount …

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• 3 June 2022 9:26 pm

  EUR/USD slides, suggesting upward exhaustion

  

  The US dollar strengthens on Friday amid risk aversion and higher US yields. Positive employment report partially offset by a weaker reading of ISM Service PMI. The EUR/USD pair failed to recover the 1.0750 territory and pulled back during Friday’s American treding session toward the 1.0700 level. The pair is …

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