Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 9 June 2022 2:30 am

  Oil leaps to 13-week high on rising gasoline demand

  

  Crude oil prices jumped over 2% to a 13-week high on Wednesday as US demand for gasoline keeps rising despite record pump prices, while expectations that China’s oil demand will increase faced growing supply concerns in several countries, including Iran.Analysts have said a nuclear deal with Iran could add about …

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• 9 June 2022 1:36 am

  UK Ponders Stricter Stance Towards Sanctions

  

  The UK is considering stricter enforcement of the economic sanctions measures next week after passing a relevant legislation in the wake of Russia’s invasion of Ukraine.Starting June 15, the UK’s Office of Financial Sanctions Implementation will not have to seek evidence that companies or individuals who violate the country’s sanctions …

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• 9 June 2022 12:02 am

  EUR/USD edges higher ahead of ECB meeting

  

  As the market participants’ attention and focus turns to the ECB, at 1.0720, the EUR/USD pair is 0.2% higher on the day during the North American session. The pair’s price has moved upwards from the 1.0671 low to hit the 1.0748 high. However, trading decisions do take into account the …

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• 8 June 2022 10:56 pm

  Zelenskyy urges US companies to quit Russia, into Ukraine

  

  Ukraine’s President Volodymyr Zelenskyy answered questions from corporate leaders at the Yale CEO Summit on Wednesday.The president urged companies that have not shut down operations in Russia to leave the country and instead set up their branches and new businesses in Ukraine. He also warned of widespread famine if Russia …

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• 8 June 2022 10:18 pm

  What happened to the Japenese yen during the last 24 hours?

  

  As the Japanese yen hits a 20-year low against the dollar, Japan’s central bank chief apologizes for saying consumers have become tolerant of higher prices.BoJ Governor Haruhiko Kuroda on Wednesday withdrew his claim that Japanese consumers have become tolerant of price increases for the goods they purchase; a remark he …

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• 8 June 2022 8:53 pm

  UAE: OPEC+ Struggles With Oil Production Hikes

  

  Since OPEC+ started retrogressive last year the record cuts from April 2020, the group has been struggling to meet its production quota as many members lack spare capacity or investment to increase production. OPEC+ is currently pumping 2.6 million barrels per day (bpd) of oil below its target, and efforts …

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• 8 June 2022 8:29 pm

  Gold Surges Above $1855

  

  Gold has gained fresh momentum despite higher treasury yields. The precious metal’s price hit three- day high, and remains oblique, looking at the $1860 resistance.The US dollar pulled back during the American session boosting the Gold Index which climbed to $1859.70, reaching the highest level in three days. Gold is …

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• 8 June 2022 7:30 pm

  WTI Recovers Above $120 On US Inventory Data

  

  The WTI crude has recovered back above $120 after the latest US EIA inventory report showed gasoline stocks falling unexpectedly. Prices remain well supported against the backdrop of strong and rising demand plus OPEC+/Russia supply woes.Crude oil prices have been trading with an upwards trajectory in recent sessions and weeks, …

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• 8 June 2022 5:14 pm

  ECB sets course for interest rate hikes

  

  The European Central Bank’s (ECB) June 9 monetary policy decision is likely to be a highly significant one, as the central bank is seen signaling its first-rate hike in over a decade. Increasing signs of inflation broadening out in the old continent have compelled the ECB to prepare for a …

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• 8 June 2022 4:41 pm

  US 10-Year T-Yields Gain 3%

  

  The 10-year US Treasury note yield trades above 3% while market participants still evaluate  the outlook for tightening monetary policy ahead of a critical US inflation, scheduled next Friday. Earlier this year, US yields climbed up to 0.01% as traders reacted to persistently high inflation ratings and a more hawkish …

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• 8 June 2022 3:06 pm

  OECD Slashes Global Growth Forecasts

  

  The Organisation for Economic Co-operation and Development (OECD) announced today cutting its global growth predictions for 2022 to 3% due to the Russia-Ukraine war repercussions and the supply-chain disruptions. In its latest review, published today, OECD sees global GDP growth of 3.0% in 2022 versus 4.5%, predicted before. Besides, OECD …

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• 8 June 2022 1:09 pm

  Eurozone Final GDP arrives at 0.6% QoQ

  

  The Eurozone economy expanded by 0.6% on the quarter in the three months to March of 2022 vs. 0.3% prior, the final revision confirmed on Wednesday. The market consensus was for a reading of 0.3% in the reported period. On an annualized basis, the bloc’s GDP rate rose by 5.4% …

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• 8 June 2022 1:05 pm

  European shares fall under pressure

  

  European shares fell on Wednesday, quickly giving up gains at the open, as a 6% drop in Credit Suisse shares after an earnings warning put pressure on the banking sector, while metal prices also pressured mining stocks. The pan-European Stoxx 600 index fell 0.1 percent, after rising at the opening …

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