Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 2 June 2022 2:05 am

  WTI Crude falls on recession concerns, gossip on Russian exit from OPEC+

  

  The WTI crude oil flirts with intraday low amid accelerating concerns over recession in the China and the United States. These concerns currently impact the overall global energy demand outlook.WTI crude is still laggard for the third successive day, despite the latest bounce off intraday lows, as fears surrounding growth …

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• 2 June 2022 1:12 am

  Fed’s Beige Book: Most districts exhibited slight to modest growth

  

  The Federal Reserve’s Beige Book report was released on Wednesday indicating that the status of the US economy continued to grow in recent weeks, with most Fed districts achieving slight to modest growth, down from the moderate activity reported in the April.the US dollar is higher, lifted by higher Treasury …

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• 2 June 2022 12:37 am

  US Shares Retreat After Key Economic Data

  

  The stock market fell Wednesday following still-strong economic data and the start of the Federal Reserve’s QE. The Dow Jones Industrial Average fell 177 points, or 0.5%, while the S&P 500 dropped 0.8%, and the Nasdaq Composite declined 0.7%. Stocks tried to rally in the afternoon but ultimately stumbled into …

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• 1 June 2022 11:47 pm

  Biden: Cannot instantly reduce gasoline cost

  

  US President Joe Biden is focused on knocking down sky-high fuel prices, but he has a limited influence to do that and the US President said he cannot take immediate action to bring them down. The oil markets were paying attention to Biden’s plans in March when he announced a …

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• 1 June 2022 11:19 pm

  Fed’s Bullard Skeptical on recession probabilities

  

  St. Louis Fed President James Bullard explained, on Wednesday, that inflation at levels last seen in the 1970s and early 1980s is putting the US central bank’s credibility at risk and has been reiterating his call for the Fed to follow through on promised rate hikes to bring down inflation, …

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• 1 June 2022 10:39 pm

  US dollar rises on positive US economic data

  

  Global equities fell and the US dollar advanced on Wednesday after stronger-than-expected economic data helped assuage concerns of high inflation and an impending recession driven partly by rising oil prices.The data released by the Institute for Supply Management (ISM) showed US manufacturing activity picked up in May as demand for …

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• 1 June 2022 10:02 pm

  US To Boost Economic Relations With Taiwan

  

  As tensions accelerate with China, Biden’s administration is forging closer ties with Taiwan in areas such as trade and supply chainsThe US Trade Representative’s office on Wednesday unveiled a new pact with Taipei to promote bilateral trade in areas such as digital trade, clean energy and labor rights. The two …

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• 1 June 2022 9:11 pm

  Gold surges to $1850 despite higher T-yields

  

  Gold prices have bounced from multi-day lows under $1830 to the $1850 level after the beginning of the US trading session despite higher US yields. The Gold Index holds around daily highs even as Wall Street extends losses and as the US dollar further strengthens.Earlier on Wednesday, gold sharply surged …

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• 1 June 2022 8:36 pm

  April’s US ISM Manufacturing data offers a mixed image on the state of industry

  

  Wednesday’s data has showed an unexpected acceleration in the US ISM Manufacturing PMI Index in May from 55.4 to 56.1. According to analysts at Wells Fargo, the report offers a mixed read on the state of the industry. “Orders and order backlogs are growing at a faster pace. Meanwhile, supplier …

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• 1 June 2022 8:09 pm

  USD/CAD firmly heads towards 1.2660s on BoC’s rate hike

  

  The USD/CAD pair slides, on Wednesday, after the Bank of Canada hiked the interest rate by 50 bps, raising it to the 1.50% threshold. The pair has snapped five days of losses, amid negative market sentiment, at the same time, global equities fall lower.The Bank of Canada lifted rates by …

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• 1 June 2022 7:03 pm

  US job openings fall to 11.4 million

  

  US job openings dropped to 11.4 million in April from a record 11.9 million in the prior month, signaling some softening in what’s still the tightest labour market in decades.The number of people who quit jobs in April, meanwhile, was little changed at 4.4 million, the Labour Department said Wednesday. …

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• 1 June 2022 6:33 pm

  Breaking: Bank of Canada hikes interest rates by 50 bps to 1.50%

  

  The Bank of Canada (BoC) lifted interest rates by 50 bps from 1.0% to 1.50% on Wednesday, a move that had been expected by most analysts, with a minority calling for a larger 75 bps hike.

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• 1 June 2022 5:08 pm

  UGA: Expectations of a 42% decrease in the wheat harvest in Ukraine this year

  

  Ukraine’s wheat harvest in 2022 is likely to fall to 19.2 million tons from 33 million tons in 2021, but lower exports will push stocks to record highs, the Ukrainian Grain Traders Union (UGA) said on Wednesday. Ukrainian officials and analysts said that hostilities in many areas may make harvesting …

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