Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 11 June 2022 1:39 am

  Gold Reacts To CPI Data, Soaring To $1874

  

  gold prices are soaring on Friday despite higher US yields and a stronger dollar. The Gold Index XAU/USD rebounded again at the $1830 but this time it broke $1850 and a few minutes later reach $1870, and even $1874 at the time of writing.Following the US May CPI report, XAU/USD …

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• 11 June 2022 12:59 am

  GBP/JPY Watches BoJ’s intervention threats

  

  Financial Japanese authorities had a meeting to address the weaker JPY and have agreed to act if the yen continues weakening. Despite falling on threats of an intervention by Japan, the GBP/JPY pair managed to gain 1.30% within a week.The GBP/JPY pair fell on Friday and trimmed weekly gains of …

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• 10 June 2022 11:45 pm

  Tesla announces 3-for-1 stock split, Ellison to leave board

  

  Tesla announced in its annual proxy statement released late Friday it will seek shareholder approval to split its stock 3-for-1.Tesla said the proposed stock split, “would help reset the market price of our common stock so that our employees will have mor flexibility in managing their equity, all of which, …

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• 10 June 2022 10:06 pm

  American Express launches US crypto rewards credit card with Abra

  

  Credit card companies are sweetening the bonuses they offer their customers, and American Express is doing just that through a new partnership with crypto wealth management platform and wallet provider Abra. The two companies announced the launch of the Abra Crypto Card on the Amex network today at Coindesk’s Consensus …

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• 10 June 2022 9:15 pm

  BoE meeting poses some upside risk for the pound

  

  Next week, the Bank of England will have its monetary policy meeting. Analysts at MUFG Bank consider the meeting will pose some upside risk for the pound but they warn any rally should be short-lived in light of the still unfavourable UK cyclical backdrop. Key Quotes: “The weak outlook for …

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• 10 June 2022 8:30 pm

  US Equities Crushed On CPI Inflation Data

  

  US stocks sharply dropped on Friday after new data showed that inflation accelerated in May. The S&P 500 was recently down 2.4%. The Dow Jones Industrial Average declined 675 points, or 2.1%, while the Nasdaq Composite dropped about 3%. US stock benchmarks posted their biggest declines in more than three …

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• 10 June 2022 7:49 pm

  Employment data adds pressure on the BoC

  

  Economic data released on Friday showed the jobs in Canada rose by 39,800 in May, surpassing expectations. Analysts at CIBC, consider that recent economic data means that the Bank of Canada could raise its interest rates a little higher. Key Quotes: “A further solid rise in employment, decline in the …

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• 10 June 2022 7:05 pm

  UoM Consumer Sentiment Index slumps below expectations

  

  The University of Michigan’s headline Consumer Sentiment Index slumped to 50.2 in June, its worst level since records began back in the 1970s, according to the preliminary release of the university’s widely followed monthly consumer survey. That was a large miss on the expected slight decline to 58.0 from 58.4 …

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• 10 June 2022 5:18 pm

  Oil prices are on their way to record a weekly rise

  

  Oil prices rose on Friday and were on track to record new weekly gains, supported by strong demand for fuel in the United States, although new measures to combat Covid-19 in Shanghai and Beijing limited the gains. Brent crude rose 98 cents, or 0.8 percent, to $124.05 a barrel by …

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• 10 June 2022 5:05 pm

  US annual CPI inflation rises to 8.6% in May

  

  The annual pace of inflation in the US rose to 8.6% in May according to the latest Consumer Price Index data released by the US Bureau of Labour Statistics on Friday. That was above the expected reading of 8.3%. MoM, the headline inflation rate was 1.0%, well above the expected …

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• 10 June 2022 3:24 pm

  US CPI Preview: Forecasts from four major banks

  

  The US Bureau of Labor Statistics will release the May Consumer Price Index (CPI) data on Friday, June 10 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of four major banks regarding the upcoming US inflation print. …

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• 10 June 2022 2:41 pm

  Turkey announces steps to support the economy and the priority to combat inflation

  

  Turkey’s Treasury said on Friday that fighting inflation remains the top priority in its macroeconomic policies, after it, along with other state institutions, announced measures to support an economy suffering from high prices and a depreciating lira. The ministry announced that it would issue local bonds linked to government companies’ …

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• 10 June 2022 2:17 pm

  Japan shares end 5 days of gains

  

  Japan’s Nikkei ended a 5-session winning streak on Friday, tracking Wall Street’s overnight decline as investors awaited key US inflation data that will guide the Fed’s monetary policy tightening path. The Nikkei index fell 1.49% to 27,824.29 points, falling below the key psychological level of 28000, and retreating from the …

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