Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 13 July 2022 3:23 am

  GBP/USD faces barrier on UK political crisis

  

  The GBP/USD pair has encountered selling pressure after attempting to sustain above the crucial level of 1.1900 which is a steep fall after surrendering the weekly support at 1.1876 and printed fresh weekly support at 1.1807. On the UK front, ongoing political crisis after the announcement of resignation by current …

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• 13 July 2022 2:29 am

  Crypto Assets Drop As Markets Close Choppy Day

  

  Bitcoin was trading under $20,000 again after June’s ups and downs. Bitcoin’s move below $20,000 was not as critical as it was last month but developments in the crypto space are still certainly noteworthy as it repeatedly dipped below $20,000.Major crypto assets continued falling on Tuesday amid a choppy market. …

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• 13 July 2022 2:07 am

  US shares slide ahead of corporate earnings reports

  

  Shares shed early gains and ended broadly lower on Wall Street Tuesday as investors brace for a big week of news on inflation and company earnings reports. The S&P 500 retreated by 0.9%, extending its losing to a third consecutive day. All of the benchmark index’s 11 company sectors closed …

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• 13 July 2022 1:33 am

  IMF cuts US GDP growth projection for 2022 to 2.3%

  

  The International Monetary Fund has cut the US 2022 growth projection to 2.3% from 2.9% in late June, due to revised US data.Key RemarksIMF cuts US 2022 GDP growth projection to 2.3% from 2.9% in late June, due to revised US data.IMF cuts US 2023 GDP growth projection to 1.0% …

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• 13 July 2022 12:43 am

  As USD retreats, EUR/USD steadies at the brink of parity

  

  The EUR/USD pair bounces off fresh 20-year lows around the parity area, trimming some of Monday’s losses, as market sentiment wobbles, reflected by US equities fluctuating between gainers and losers, ahead of the US June Consumer Price Index (CPI) to be released on Wednesday.The EUR/USD is trading at 1.0052 after …

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• 12 July 2022 11:14 pm

  What does EUR/USD parity mean for US economy?

  

  For the first time in almost 20 years, the US dollar is nearly equal in value to the Euro. This may sound good for the dollar, but it could be harmful for some sectors as well.If the dollar becomes exceptionally strong, it could harm the business for US companies, because …

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• 12 July 2022 10:53 pm

  Boeing shares jump 8% on Q2 deliveries

  

  Boeing reported Q2 deliveries on Tuesday. The company’s stock is soaring. The commercial aerospace giant delivered 121 jets in the second quarter, up from 95 in the first quarter of the year.737 MAX deliveries totaled 100 in Q2, up from 81 delivered in the first quarter. Boeing also delivered 40 …

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• 12 July 2022 10:35 pm

  EU gives Croatia green light to adopt euro in 2023

  

  EU finance ministers on Tuesday gave Croatia the final green light to adopt the euro on January 1, 2023. “I would like to congratulate my counterpart, Zdravko Maric, and the whole of Croatia for becoming the 20th country to join the euro area,” said Zbynek Stanjura, the finance minister of …

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• 12 July 2022 9:47 pm

  Fed’s Barkin: recession is possible

  

  Federal Reserve’s Tomas Barkin said that the pace of policy change may be making markets ‘skittish’. He adds that there is a path to cool inflation but a recession ‘is possible’.Barkin expects inflation to come down but not immediately or predictably. Barkin sees early signals of supply easing in freight …

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• 12 July 2022 9:04 pm

  BoC To Decide Jumbo Rate Hike On Inflation Worries

  

  Most economists do predict a 0.75-point rate hike decision by the Bank of Canada on Wednesday, followed by another super-sized rise next autumn. This will be the biggest rate increase in decades, a three-quarter-point rise, which comes within the framework of combating hot inflation, and looks set to continue with …

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• 12 July 2022 8:47 pm

  PepsiCo Announces Strong Earnings

  

  PepsiCo reported strong performance on several fronts. On Tuesday morning, premarket session did not look as positive as Monday’s Wall Street. Awaiting US CPI data has turned Tuesday into a kind of a waiting lounge for the markets. The Earnings season is starting this week, and one of the first …

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• 12 July 2022 8:12 pm

  Gold pressured by stronger US dollar

  

  Precious metals have generally maintained the same defensive stance, with gold reaching two-month lows and silver at two-year lows.Risk aversion dominates Tuesday’s trading session as investors await clues that will be provided by June’s US CPI report, due on Wednesday. Gold price is slanted to the downside and might test …

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• 12 July 2022 7:23 pm

  US Consumer Price Index Preview: Forecasts from 11 major banks

  

  June’s Consumer Price Index data will be released on Wednesday by the US Bureau of Labour Statistics. Economists and researchers from 11 major banks have provided their expectations regarding the awaited economic data as follows:Headline inflation at 8.6% is worrying, but it could get even worse, so, economists expect an …

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