Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 22 June 2022 6:00 pm

  Powel: ongoing interest rate increases will be appropriate

  

  While testifying before the Senate Banking, Housing, & Urban Affairs Committee on Wednesday, FOMC Chairman Jerome Powell said that ongoing interest rate increases will be appropriate. “Fed is strongly committed to bringing inflation back down, moving expeditiously to do so.” “Pace of future rate increases will continue to depend on …

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• 22 June 2022 4:56 pm

  The euro and the pound fell on concerns about global growth

  

  The Euro and the British Pound fell on Wednesday as concerns returned that interest rate hikes by major central banks to contain inflation threatened to sharply slow global growth or even trigger a recession. Data showed that consumer price inflation in Britain reached its highest level in 40 years at …

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• 22 June 2022 3:44 pm

  Oil plunges nearly $5 as Biden calls for fuel tax cuts

  

  Oil prices fell sharply on Wednesday, amid efforts by US President Joe Biden to cut fuel taxes in order to reduce costs incurred by drivers in light of the strained relationship between the White House and the US oil sector. By 0918 GMT, Brent crude futures fell $4.65, or 4.1 …

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• 22 June 2022 2:23 pm

  The Japanese yen plunges to its lowest level in 24 years

  

  The Japanese yen plunged to a 24-year low against the US dollar on Tuesday, amid a stark contrast between the Bank of Japan’s ultra-loose monetary policy and the US Federal Reserve’s determination to aggressively raise interest rates to stem runaway inflation. The yen fell 1.1 percent to 136,455 against the …

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• 22 June 2022 1:23 pm

  Japan’s Nikkei closes lower on recession fears

  

  Japan’s Nikkei gave up earlier gains to close lower on Wednesday as recession fears pushed US stock futures lower after big gains on Wall Street Tuesday night. The Nikkei index fell 0.37 percent to 26,149.55 points, after rising 0.82 percent, to reach its highest level in a week at 26,462.83 …

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• 22 June 2022 12:35 pm

  European shares fall on lower commodity prices and fears of inflation

  

  European stocks look set to break a rally on Wednesday, with the decline in oil and metal prices lowering shares of commodity-related companies, while British inflation data revived fears of slowing global growth. By 0718 GMT, the pan-European STOXX 600 index fell 1.5 percent, to a record low not seen …

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• 22 June 2022 12:15 pm

  UK annualized inflation rises by 9.1% in May

  

  The UK Consumer Prices Index (CPI) 12-month rate came in at 9.1% in May when compared to 9.0% registered in April while matching estimates of a 9.1% print, the UK Office for National Statistics reported on Wednesday. The annualized figure hit the highest since March 1982 and is also the …

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• 22 June 2022 4:20 am

  Market Drivers – US Session – Tuesday, June 21

  

  US Fed Chair Jerome Powell will testify before Congress. Powell’s awaited remarks will be out ahead of the event. Market players will be looking for hints on future quantitative tightening. Economic DataThe UK will release updates on inflation data on Wednesday.Other DevelopmentsCentral bankers keep hinting at aggressive measures. Bank of …

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• 22 June 2022 4:04 am

  EUR/USD hovers around 1.0550 ahead of Powell’s Testimony

  

  Powell’s Testimony is being awaited and eyed amid market talk over the longevity of Fed’s 75 bps rate hike. The EUR/USD pair holds onto the previous two-day gains around 1.0535-40 during Wednesday’s initial Asian session. The pair’s latest rebound could be linked to the softer US dollar, as well as …

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• 22 June 2022 2:07 am

  Could Cryptocurrencies recover losses this summer?

  

  On Tuesday, Bitcoin trades at $21,000 as optimism is encouraging more transactions on the Volume Profile indicator. Investors are now looking to participate in the discounted Bitcoin price should consider reading last week’s outlook for an in-depth analysis and precise invalidation level.Finally; the crypto market is showing signs of a …

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• 22 June 2022 1:11 am

  GBP/USD bulls in control but face a wall of 4-hour resistance

  

  At 1.2270, GBP/USD pair trades on the bid between 1.2239 and 1.2324. The price is currently higher by 0.24% and correcting from last week’s drop from 1.24. Overall, the prevalent market sentiment tone is risk-on and positive for the pound with the softer US dollar despite a focus on higher …

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• 21 June 2022 11:35 pm

  Gold Holds Around $1833

  

  At $1,833.90, gold trades flat by mid-day New York trading session and has stuck to a $1,830.83 and $1,843.66 range so far in a fickle trading environment. There has been some bargain hunting on Wall Street following last week’s sellofs in stocks as investors move in on the energy and …

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• 21 June 2022 10:23 pm

  EUR/USD firmly heads towards 1.0530s on softer Dollar

  

  As the Euro extended its gains in the week by 0.42%, the US dollar, on the contrary, falls courtesy of a positive market mood.Officially, ECB’s Rehn backs a move above 25 bps in the ECB’s September meeting. On the US front, Fed’s Barkin supported a 50/75 bps rate hike in …

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