Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 3 June 2022 4:32 pm

  Turkey’s annual inflation rises to the highest level since 1998

  

  Data on Friday showed that the annual inflation rate in Turkey jumped to its highest level in 24 years, recording 73.5 percent in May, driven by the repercussions of the war in Ukraine, high energy prices, and the decline of the lira, albeit less than economists’ expectations. Inflation has been …

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• 3 June 2022 4:19 pm

  European stocks open higher, eyes turn to US data

  

  European shares opened higher on Friday as investors awaited US non-farm payrolls data to place bets on the central bank’s tightening of monetary policy while also bracing for any change in the European Central’s stance at its meeting next week. The pan-European Stoxx 600 index saw broad gains in its …

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• 3 June 2022 4:13 pm

  Oil is falling after the OPEC+ decision to increase production

  

  Oil prices fell on Friday after the OPEC+ group decided to increase production targets a little more than planned, but global supply shortages and increased demand as China eased Covid-19 restrictions curbed losses. The OPEC + bloc, which includes the Organization of the Petroleum Exporting Countries (OPEC) and independent oil …

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• 3 June 2022 3:04 pm

  Dollar falls ahead of US jobs data

  The dollar fell on Friday as risk appetite increased ahead of US jobs data due later on Friday. Trading witnessed a great calm today, Friday, with the London markets closed due to a public holiday. The dollar index fell 0.1 percent to 101.75 against a basket of other major currencies, …

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• 3 June 2022 2:18 pm

  Russian oil production rises in May

  

  The Russian newspaper Vedomosti, quoting a source in the oil sector, reported that Russian oil production, including gas condensate, grew by five percent in May, compared to April, to reach 43.1 million tons. This amount is equivalent to 10.19 million barrels per day. In the January-May period, Russia’s oil production …

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• 3 June 2022 1:29 pm

  German exports rise 4.4% in April despite dwindling trade with Russia

  

  Data released by the German Federal Statistics Office on Friday showed that the country’s exports rose more than expected in April, rising 4.4 percent from the previous month, while imports rose 3.1 percent. A Reuters poll had expected exports to rise 1.5 percent on a monthly basis. Exports from Germany …

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• 3 June 2022 12:24 pm

  Oil stabilizes after doubts

  

  Oil prices were little changed on Friday and held on to the gains they made in the previous session on doubts that oil producers in the OPEC+ cartel could increase crude production enough to offset Russian oil supply shortfalls. the price of West Texas Intermediate crude futures rose one cent …

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• 3 June 2022 11:40 am

  Gold is at the highest level in a month as the dollar declines

  

  Gold prices hit a one-month high on Friday with the dollar’s decline, which put the precious metal on track to record its third consecutive weekly increase. By 0214 GMT, spot gold rose 0.2 percent to $1,871.28 an ounce, its highest level since May 9. Gold prices are up about 1 …

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• 3 June 2022 10:48 am

  Nikkei closes at a two-month high

  

  Japan’s Nikkei closed at a nearly two-month high on Friday, boosted by gains in Fast Retailing shares after the company reported strong domestic sales. The Nikkei index rose 1.27 percent to close at 27,761.57 points, the highest closing level since April 5, recording the largest weekly jump since March 25, …

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• 3 June 2022 2:31 am

  Market drivers – US Session – 2 June

  

  US equities edged higher, even despite comments by Fed Vice-Chair Lael Brainard said that the central bank would hardly pause its current rate-hiking cycle amid record inflation levels. Cleveland Loretta Mester said that inflation has not yet peaked and that it’s too early to discuss a potential pause in the …

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• 3 June 2022 2:20 am

  WTI crude rallies over 2% on declining US inventories

  

  The American WTI crude oil pushed higher on Thursday after OPEC+ had agreed to increase its monthly oil quotas, meanwhile, US inventories declined by 5.1-million barrels last week, above the 1.3-million-barrel fall.West Texas Intermediate crude trades at $117.53, namely it is 2.37% higher on Thursday as US oil inventories fell …

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• 3 June 2022 12:53 am

  GBP/USD Lower Ahead Of NFP Data

  

  The GBP/USD pair is sliding from daily highs near 1.2585. The pair was earlier up by 0.68% and had rallied from a low of 1.2469 as the US dollar retraced some of its Wednesday gains ahead of and during another busy data schedule.The highlights on Thursday were mainly weekly initial …

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• 2 June 2022 11:26 pm

  Microsoft Cuts Earnings, Revenue Guidance, Citing Stronger USD

  

  Microsoft stock slips to become the latest company to warn of the US dollar’s impact on financials. The Tech giant also dropped its gross-margin guidance.Microsoft cut sales and earnings guidance for the current quarter, citing the impact of foreign exchange rates as the stronger dollar takes a toll. The software …

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