Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 20 June 2022 10:41 am

  China’s imports of Russian oil in May recorded a record increase

  

  China’s imports of Russian crude oil in May hit a record for one month of 8.42 million tons (about 1.98 million barrels per day), up 55 percent from the same month in 2021, according to Chinese customs data. Customs data released on Monday also showed that China imported 260,000 tons …

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• 20 June 2022 10:20 am

  Bitcoin climbs 5.7% to $20,455

  

  Cryptocurrency bitcoin rose 5.69 percent to $2,045.29 by 2003 GMT Sunday, up $1,079.23 from its previous close. With this, Bitcoin, the largest and most popular cryptocurrency in the world, is up 13.9 percent from this year’s low of $1,7592.78, which it hit on Saturday. Ether rose 10.42 percent to $1,100.07 …

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• 20 June 2022 2:14 am

  Janet Yellen: Recession isn’t inevitable, but inflation remains unacceptably high

  

  The US Treasury Secretary expects the US economy to slow” to more “stable growth”. A recession is not “at all inevitable” as the Fed takes increasingly aggressive action to address sharply rising inflation, Treasury Secretary Janet Yellen said Sunday.“Clearly, inflation is unacceptably high,” Yellen continued. “It’s President Joe Biden’s top …

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• 20 June 2022 1:20 am

  Financial Markets’ Weekly Recap, 13 – 17 June

  

  Central banks, categorized as most observed and most monitored around the globe, are coining what can be called a campaign against surging inflation. But this week it became more obvious that they know this could be achieved only at a cost that their economies should endure.US president Joe Biden indicated, …

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• 19 June 2022 7:55 pm

  Why Has Bitcoin Dropped Below $20,000?

  

  Liquidity problems could account for the latest crypto crash. Over the weekend, bitcoin price dropped below a key psychological level for buyer support, and so far, has not managed to return above that level.Bitcoin price fell below $20,000 on Saturday and is currently trading at $19,379 on Sunday morning, registering …

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• 19 June 2022 5:15 pm

  Amid Overseas Turbulence, Is US Inflation Out of Fed’s Control?

  

  Most Americans believe that the US central bank cannot fix the factors driving Inflation and recession has lately become a key word in most economic discussions.Wages are not principally responsible for the inflation we’re seeing,” Federal Reserve Chairman Jerome Powell said on Wednesday. The tragic moment came also on Wednesday …

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• 18 June 2022 4:30 am

  Market Drivers – US Session – Friday, June 17

  

  Stocks were volatile during Friday’s trading, the same applies to almost all other assets with the exception of the strongeU DOLLAR>US shares were switching between gains and losses as investors grew increasingly worried about a potential economic slowdown. The S&P 500 and the Nasdaq Composite bounced on Friday as Wall …

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• 18 June 2022 12:40 am

  AUD/USD plunges on stronger US dollar

  

  The Australian dollar prepares to finish the week with losses of almost 1.60%. Fluctuating sentiment in the FX space boosts the USD and weighs on the AUD.St. Louis Fed President Bullard: Achieving a soft landing is feasible. The AUD/USD pair plummets from weekly highs reached on Thursday around 0.7069, down …

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• 17 June 2022 10:41 pm

  Gold drops to around $1830

  

  The gold spot is falling due to broad US dollar strength and steady US real yields. US Industrial Production expànded at a lower rate than in April, showing that the US economy is slowing.Gold spot (XAUUSD) drops as a reaction to the buoyant US dollar, which is staging a comeback …

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• 17 June 2022 9:58 pm

  Hawkish Stance Reinforced By Fed Officials

  

  Minneapolis Fed President Niel Kashkari said on Friday that he could support another 75 basis points rate hike in July. he also insisted that there is “need to be cautious about too much front-loading on rate hikes.according to Kashkari, “prudent strategy might be to continue with 50 bps rate hikes …

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• 17 June 2022 9:05 pm

  USD/CAD rallies on broader USD strength

  

  The USD/CAD soars above the 1.3000 mark for the first time since May 12 and records a fresh YTD high at around 1.3078 after Wednesday’s Fed 75 bps rate hike, which did not catch traders off guard due to an article on the WSJ on Monday that foresaw an increase …

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• 17 June 2022 8:20 pm

  WTI revisits multi-week lows below $110.00

  

  Crude oil prices came under heavy bearish pressure ahead of the weekend and the barrel of West Texas Intermediate (WTI) declined below $110.00 for the first time in three weeks. The WTI was down 6.4% on a daily basis at $109.50.Tass news agency said that the Russian deputy energy minister …

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• 17 June 2022 7:36 pm

  Fed Monetary Policy Report: GDP on track to rise in Q2

  

  In its semi-annual Monetary Policy Report, the US Federal Reserve said that the Gross Domestic Product (GDP) appears to be on track to rise moderately in the second quarter, as for the market’s reaction, the dollar preserves its strength ahead of the weekend and the US Dollar Index was last …

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