Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 10 June 2022 7:05 pm

  UoM Consumer Sentiment Index slumps below expectations

  

  The University of Michigan’s headline Consumer Sentiment Index slumped to 50.2 in June, its worst level since records began back in the 1970s, according to the preliminary release of the university’s widely followed monthly consumer survey. That was a large miss on the expected slight decline to 58.0 from 58.4 …

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• 10 June 2022 5:18 pm

  Oil prices are on their way to record a weekly rise

  

  Oil prices rose on Friday and were on track to record new weekly gains, supported by strong demand for fuel in the United States, although new measures to combat Covid-19 in Shanghai and Beijing limited the gains. Brent crude rose 98 cents, or 0.8 percent, to $124.05 a barrel by …

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• 10 June 2022 5:05 pm

  US annual CPI inflation rises to 8.6% in May

  

  The annual pace of inflation in the US rose to 8.6% in May according to the latest Consumer Price Index data released by the US Bureau of Labour Statistics on Friday. That was above the expected reading of 8.3%. MoM, the headline inflation rate was 1.0%, well above the expected …

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• 10 June 2022 3:24 pm

  US CPI Preview: Forecasts from four major banks

  

  The US Bureau of Labor Statistics will release the May Consumer Price Index (CPI) data on Friday, June 10 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of four major banks regarding the upcoming US inflation print. …

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• 10 June 2022 2:41 pm

  Turkey announces steps to support the economy and the priority to combat inflation

  

  Turkey’s Treasury said on Friday that fighting inflation remains the top priority in its macroeconomic policies, after it, along with other state institutions, announced measures to support an economy suffering from high prices and a depreciating lira. The ministry announced that it would issue local bonds linked to government companies’ …

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• 10 June 2022 2:17 pm

  Japan shares end 5 days of gains

  

  Japan’s Nikkei ended a 5-session winning streak on Friday, tracking Wall Street’s overnight decline as investors awaited key US inflation data that will guide the Fed’s monetary policy tightening path. The Nikkei index fell 1.49% to 27,824.29 points, falling below the key psychological level of 28000, and retreating from the …

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• 10 June 2022 2:13 pm

  Tesla sold more than 32,000 Chinese-made cars in May

  

  The China Passenger Car Association (CPCA) said US electric car maker Tesla sold more than 32,000 Chinese-made cars in May, including 22,000 that were exported. The association added that the Tesla factory in Shanghai produced more than 33.5 thousand cars in May, an increase of 212% from April, and total …

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• 10 June 2022 2:11 pm

  The dollar falls against the euro before US inflation data

  

  The dollar fell Friday, June 10, as traders awaited the US inflation data that should provide indications of the path of monetary tightening at the Federal Reserve, and after the European Central announced the start of raising interest rates next month. The euro rose after its decline Thursday, June 9, …

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• 10 June 2022 2:02 pm

  Oil falls as demand fears exacerbate due to a new partial closure in Shanghai

  

  Oil prices fell on Friday but remained close to three-month highs, as concerns about new anti-Covid-19 closures in Shanghai outweighed the impact of strong fuel demand in the United States, the world’s largest consumer. Brent crude futures for August delivery fell 77 cents, or 0.6 percent, to $122.30 a barrel …

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• 10 June 2022 1:57 pm

  European stocks fall ahead of US inflation data

  

  European shares extended losses on Friday for the fourth consecutive session, ahead of the release of US inflation data that may prompt more speculations about the monetary policy path of the Federal Reserve at its meeting next week. Indices of all sectors fell, and the banking sector was the biggest …

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• 10 June 2022 1:10 pm

  Gold falls as Treasury yields rise ahead of US inflation data

  

  Gold prices fell on Friday and headed for a weekly decline as Treasury yields rose while investors awaited monthly inflation data in the United States for indications of the future of the Federal Reserve’s monetary policy. And gold fell in spot transactions 0.2 percent to $ 1844.78 an ounce (an …

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• 10 June 2022 12:32 pm

  Turkish lira declines

  

  The Turkish lira fell slightly on Friday after the Treasury, the Central Bank and other government institutions announced a series of measures to support the economy. The lira fell to 17.24 per dollar in early trading from Thursday’s close of 17.20. The lira had risen as high as 16.8 on …

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• 10 June 2022 5:12 am

  Market Drivers – US Session – Thursday, June 9

  

  WTI crude, futures on NYMEX, holds above $119.00 and faces a minor time correction after a vertical upside move. The black gold is holding its gains despite the renewed fears of a lockdown in China to contain the spread of the Covid-19. The Chinese economy was recovering from lockdown measures …

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