Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 2 June 2022 10:37 pm

  Growth stocks push Wall Street higher in choppy trade; eyeing NFP data

  

  US stock indexes rose in choppy trading on Thursday led by Tesla and other growth stocks, with investor focus on Microsoft’s forecast cut and comments from a Federal Reserve official ahead of a key jobs report due on Friday.The S&P index recorded one new 52-week high and 29 new lows, …

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• 2 June 2022 9:22 pm

  Could NFP Data Rock The US Dollar?

  

  Higher than expected wages increase will boost the American dollar, in this high-probability scenario. However; slower salary gains will likely drag the dollar down. As expected figures will certainly create an opportunity to move against the prevalent trend. Nonfarm Payrolls remain significant despite the focus on inflation – it just …

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• 2 June 2022 8:05 pm

  Fed’s Brainard: Number One challenge is getting inflation down

  

  Lael Brainard, Vice Chairwoman of the Fed said on Thursday that the Fed is monitoring mixed signals on the US economy, but the number one priority will still be getting inflation down. Brainard has added that she does expect to see some cooling of the economy over time, and that …

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• 2 June 2022 7:17 pm

  BoC’s Beaudry: BoC might need to take rates to 3.0% or higher

  

  Bank of Canada Deputy Governor Paul Beaudry on Thursday said that the BoC sees an increasing likelihood that it may need to raise its policy rate to 3% or higher. Key Comments:The risk is now greater that inflation expectations could de-anchor and high inflation could become entrenched. The BoC must …

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• 2 June 2022 5:59 pm

  OPEC+ agrees to raise output by 648K BPD in July and again in August

  

  Oil ministers from OPEC+ nations agreed on Thursday to lift output by 648K barrels per day (BPD) in both July and August, according to sources speaking to Reuters, in line with the recommendation made by the group’s Joint Ministerial Monitoring Committee earlier in the day. With Thursday’s meeting having now …

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• 2 June 2022 5:20 pm

  US: Private sector employment rises by 128K in May

  

  Private sector employment in the US rose by 128,000 in May according to US payroll company ADP’s latest estimate of employment change released on Thursday. That was below expectations for 300,000 rise and lower than April’s 247,000 gain. 

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• 2 June 2022 4:30 pm

  Russia calls the European Union’s decision to phase out its oil a “self-destructive” step

  

  Russia warned on Thursday that the European Union’s decision to partially and gradually abandon Russian oil would likely destabilize global energy markets, calling it a “self-destructive” move that could backfire on the bloc. European Union leaders agreed in principle on Monday to slash Russian oil imports by 90 percent by …

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• 2 June 2022 3:56 pm

  Oil prices fall on prospect of OPEC offsetting Russian output loss

  

  Oil prices fell on Thursday after speculation that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries may increase crude production to offset any decline in Russian production. Brent crude fell $2.82, or 2.4 percent, to $113.47 a barrel, after rising 0.6 percent on Wednesday. US …

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• 2 June 2022 2:34 pm

  The euro stops a wave of losses and the Swiss franc is rising due to inflation

  

  The euro and the yen rose on Thursday, reversing a wave of recent losses incurred by the two currencies against the dollar, and the Swiss franc reached a one-month high against the euro after inflation in Switzerland climbed to a 14-year high. In Asian trading, the dollar rose to a …

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• 2 June 2022 1:04 pm

  Turkey’s trade deficit rises 157% in May

  

  Turkey’s Trade Ministry said on Thursday that the country’s trade deficit jumped 157 percent year-on-year in May to $10.68 billion, as energy import costs continued to rise. Russia’s invasion of Ukraine has sent global commodity prices soaring, jeopardizing Ankara’s New Economic Program that aims to tackle high inflation by running …

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• 2 June 2022 12:33 pm

  Japan’s Nikkei index closes flat

  

  Japan’s Nikkei gave up most of its gains to close flat on Tuesday, as worries about inflation and higher interest rates in the United States outweighed the rise of automakers and energy-related stocks. The index rose 0.1 percent to 27,943.95 points, after exceeding 28,000 points for the first time since …

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• 2 June 2022 5:34 am

  Market Drivers – US Session – June 1, 2022

  

  The US dollar surged during US trading hours as stocks plummeted while Treasury yields advanced. The catalyst was a slew of positive US data boosting the US dollar and concerns about a likely looming recession.Economic DataThe US ISM Manufacturing PMI rose to 56.1 in May from 55.4 in the previous …

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• 2 June 2022 2:58 am

  NFP, ADP Employment Change Preview: US labour market retreats

  

  Job growth is predicted to be 300,000 up from 247,000 in April. ADP average for the fourth quarter in 2021 was 582,000, first was 530,000. NFP forecast for 320,000 in May, down from 428,000. Economists and observers see that market sensitivity to the labour market has retreated.Private payrolls from Automatic …

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