Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 14 July 2022 10:41 am

  IEA says oil market walking tightrope due to supply risks

  

  The International Energy Agency said on Wednesday that the global oil market was walking a “tightrope” between a supply shortage and a possible economic recession, with demand already affected by higher prices and deteriorating economic conditions. Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook …

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• 14 July 2022 4:58 am

  Market Drivers – US Session – Wednesday, July 13

  

  The Bank of Canada hiked its policy interest rate by 100 bps to 2.5% in July, compared to the market expectation for a rate increase of 75 bps. The BOC acknowledged that it had underestimated inflation since the 2021 spring because of global factors. USD/CAD slid to 1.2933, and trades …

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• 14 July 2022 4:17 am

  Why do Thursday’s releases matter?

  

  In the UK, the Royal Institute of Chartered Surveyors will publish its house price balance, also for the month of June. The European data calendar will light with only consumer price data for June due out in Finland, Ireland and Sweden.All eyes on Thursday will focus on the US inflation …

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• 14 July 2022 2:21 am

  Fed’s Mester: CPI doesn’t suggest going smaller than June hike

  

  “I haven’t seen any solid proof that inflation has reached its peak,” said Cleveland Federal Reserve President Loretta Mester said while speaking at the Bloomberg interview.Mester’s comments exert downside pressure on the EUR/USD as it fades the previous day’s corrective pullback while retreating to 1.0050 during the early Asian session …

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• 14 July 2022 1:27 am

  Yield curve most inverted since 2000

  

  The yield on the benchmark 10-year note slid by 0.05 percentage points to 2.91 per cent. The two-year yield has been higher than the 10-year yield since last week. This occurrence is widely known in the market as “an inverted yield curve” and constitutes a closely watched signal of recession …

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• 14 July 2022 12:39 am

  WTI Crude Under Pressure Despite Global Supply Fears

  

  WTI crude oil is under pressure although both OPEC and the IEA issued warnings that the global energy supply crisis could continue for some time during 2022. Oil is struggling to find direction and is running into some supply difficulties during midday trading session. Oil price is up by 0.5% …

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• 13 July 2022 11:50 pm

  Fed’s Beige Book Highlights Rising Inflation Fears

  

  According to the Fed’s Beige Book, released on Wednesday, wages and other prices gains were seen across most of the 12 districts. As for the overall economic outlook; the Fed said that the US economy grew at a modest pace since mid-May but several of the central bank’s regional districts …

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• 13 July 2022 11:15 pm

  Fed’s Barkin: Ups the case to be “resolute” on inflation

  

  Richmond Federal Reserve president Thomas Barkin told Wall Street Journal that he believes headline and core inflation is too high.“I definitely see signs of softening,” Barkin said, with the evidence “most pronounced in lower income households” and in parts of the economy that saw demand surge during the pandemic.Barkin also …

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• 13 July 2022 10:25 pm

  Gold Price rises on Wednesday above $1730

  

  Gold Price sharply bounced during the last hours and stabilized in the positive territory for the day. The precious metal, earlier, bottomed at $1,706 following US inflation data and then redounded rising by $40 within a few minutes. Gold peaked at $1,745, the highest level in three days. Volatility in …

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• 13 July 2022 9:40 pm

  Natural Gas Price Rises In Europe On Nord Stream1 Maintenance

  

  European natural gas prices surged for a second trading day as investors, market participants and traders are watching Russia’s Nord Stream 1 pipeline on maintenance, speculating when it could be completed and thereafter reopened. The pipeline was shut for planned maintenance that is scheduled to last for 10 days, but …

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• 13 July 2022 8:51 pm

  US stocks open sharply lower after CPI data

  

  Wall Street stocks dropped and short-dated Treasuries came under pressure on Wednesday after hotter than expected US inflation data fueled expectations of aggressive Federal Reserve rate hikes.US stocks opened sharply lower after the Consumer Price Index reading in June showed inflation surged in June more than expected, with the annual …

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• 13 July 2022 7:58 pm

  USD/JPY retreats after hitting a fresh 24-year high

  

  The USD/JPY pair jumped after the release of the US June CPI to 137.86, reaching a fresh 24-year high. After the beginning of the US trading session pulled back to 137.10. As of writing, it is moving back to the 137.50 area.Inflation keeps rising, so does the US dollar. Inflation …

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• 13 July 2022 7:17 pm

  BOC’s Macklem: A soft landing is achievable

  

  Following the Bank of Canada’s (BOC) decision to hike the policy rate by 100 basis points to 2.5% in July, Governor Tiff Macklem is delivering his remarks on the policy outlook and responding to questions from the press.Meanwhile, Senior Deputy Governor Carolyn Rogers argued that part of restoring the balance …

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