Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 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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• 13 July 2022 5:15 pm

  Turkish unemployment rate fell to 10.9% in May

  

  Data on Wednesday showed that Turkey’s unemployment rate fell 0.3 percentage point on a monthly basis in May, while the seasonally adjusted disguised unemployment rose 0.8 percentage point to 22.4 percent. Disguised unemployment was declining for most of the past year, after it peaked at 29.6 percent in January 2021 …

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• 13 July 2022 4:30 pm

  Euro hovers above parity against USD Ahead of US inflation data

  

  The euro hovered above parity with the US dollar on Wednesday as traders focused on US data due later on Wednesday that is expected to show inflation at a 40-year high. European stocks witnessed a decline and the currency markets were calm in early European trading, with the dollar index …

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• 13 July 2022 3:15 pm

  Eurozone Industrial Production rises 0.8% MoM in May, beats estimates

  

  Eurozone’s Industrial Production increased more than expected in May, the official data published by Eurostat showed on Wednesday, suggesting a gradual upturn in the bloc’s manufacturing sector activity. The industrial output in the old continent arrived at 0.8% MoM vs. a 0.3% rise expected and 0.5% last. On an annualized …

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• 13 July 2022 2:33 pm

  European stocks fall ahead of US inflation data

  

  European shares fell on Wednesday as investors awaited US inflation data expected to reach its highest level in 40 years, which supports a large interest rate hike and may push the euro to parity with the dollar. The pan-European Stoxx 600 index fell 0.8 percent after closing higher in a …

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• 13 July 2022 1:27 pm

  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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• 13 July 2022 1:08 pm

  China’s June exports grow at fastest rate in 5 months

  

  China’s exports grew at the fastest rate in 5 months in June, exceeding analysts’ expectations, confirming that China, the world’s second largest economy, is slowly recovering from the effects of the restrictions it imposed to contain the Corona virus pandemic. But imports grew at a slower rate that did not …

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• 13 July 2022 12:17 pm

  Turkey’s inflationary pressures would continue due to domestic, global factors

  

  Turkish unemployment data was released this morning, and the number of unemployed people in Turkey reached 3 million 785 thousand people, and the unemployment rate reached 10.9%. According to the data announced by TUIK today, the number of official unemployed people across the country decreased by 56 thousand in May …

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• 13 July 2022 11:26 am

  Gold stabilizes as investors await indications from US inflation data

  

  Gold prices settled near their lowest levels in more than nine months on Wednesday, as investors awaited US inflation data for indications of the Federal Reserve’s monetary policy stance. And gold settled in spot transactions at $ 1725.83 an ounce by 0543 GMT, after falling to its lowest level since …

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• 13 July 2022 10:43 am

  UK Manufacturing Production rises 1.4% MoM in May

  

  The UK’s industrial sector recovery gathered steam in May, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Wednesday. Manufacturing output arrived at 1.4% MoM in May versus 0.1% expectations and -0.6% booked in April while total industrial output came in at 0.9% …

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• 13 July 2022 10:15 am

  Libya’s NOC lifts force majeure on the Brega and Zueitina ports

  

  The National Oil Corporation of Libya announced in a statement on Wednesday the lifting of force majeure and the resumption of exports from the Brega and Zueitina ports. The statement stated that a team of specialists from the Corporation is negotiating to allow the tankers to enter the ports of …

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• 13 July 2022 5:28 am

  Market Drivers – US Session – Tuesday, July 12

  

  The White House memo (noting that US macroeconomic data, including the June jobs report, are not consistent with a recession) was a good attempt to improve market sentiment. The document added that “labour market strength puts the US in a better position than many other countries to transition to lower …

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• 13 July 2022 5:05 am

  WTI crude retreats around $90.00 on recession-linked concerns

  

  Oil prices are expected to slip towards $90.00 due accelerating global recession-linked fears. Lockdown in China and interest rate hikes by Western central banks have also trimmed oil price forecasts.WTI futures have displayed a steep downside after surrendering the psychological support of 100.00 last week. Crude oil recorded three-month low …

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