Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 29 July 2022 11:54 pm

  EUR/USD rebounds back as US yields retreat

  

  The US dollar loses some of its earlier shine late on Friday amid lower US yields. The EUR/USD pair practically flat for the week and remains sideways.Price keeps moving below 1.0260 and supported by 1.0100. The EUR/USD printed a fresh daily low during the US session at 1.0145 and then …

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• 29 July 2022 10:55 pm

  Russian Ruble Stumbles as Yuan Trading Volumes Jump to Record

  

  Since February 2022, the war in Ukraine has contributed to the acceleration of turning the compasses of Russia’s eastwards and sent local demand for China’s yuan to record highs. This has helped to tame a four-month ruble rally that has accumulated pressure on companies and the budget.Trading volume in the …

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• 29 July 2022 10:00 pm

  US equities surge on positive forecasts from Apple, Amazon

  

  The Nasdaq and the S&P 500 indexes rose on Friday and were seen on track for their biggest monthly gain in nearly 20 months, after positive earnings updates from Amazon.com and Apple, on hopes of a less aggressive monetary policy.Nasdaq, S&P 500 rise on upbeat forecasts from Apple, Amazon© Reuters. …

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• 29 July 2022 9:57 pm

  USD/CAD grips to recovery post-US PCE/Canadian GDP

  

  The USD/CAD pair rebounds from a six-week low set on Friday amid the emergence of fresh USD buying. The upbeat US PCE report revives Fed rate hike bets and remains supportive of the USD bounce.As investors digest the less hawkish FOMC decision and Thursday’s disappointing US GDP print, the US …

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• 29 July 2022 8:59 pm

  Shares fall after Procter & Gamble’s warning on price rises

  

  P&G shares fell 3.5 per cent in premarket trading after the company has warned that cash-strapped customers were increasingly reluctant to accept higher prices, as the US consumer goods group flagged slower sales growth in the next 12 months.The maker of Tide detergent, on Friday, reported a 1 per cent …

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• 29 July 2022 8:15 pm

  Atlanta Fed: US GDP to grow by 2.1% in Q3

  

  According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.1% in the third quarter.The US Dollar Index showed no immediate reaction to this news and was last seen posting small daily losses at 106.05.“The initial estimate of …

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• 29 July 2022 7:41 pm

  Gold looking forward to $1770

  

  Gold trades at $1768 per ounce at the time of writing. The Gold Index rebounds after hitting a fresh low, at the same time, US yields erase earlier gains, back near recent lows. Gold prices benefited from Friday’s weaker US dollar during the American session.Gold continues to shine as it …

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• 29 July 2022 6:57 pm

  UoM consumer sentiment rises above expectations

  

  University of Michigan’s consumer sentiment has slightly rebounded in July. The University of Michigan final sentiment came in a little bit stronger than estimate and higher than the preliminary. However, the data still remains near historic low levels.Current conditions were also higher and above last month 57.1. The expectations Index …

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• 29 July 2022 4:41 pm

  US annual PCE inflation jumps to 6.8% in June

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, climbed to 6.8% on a yearly basis in June from 6.3% in May, the US Bureau of Economic Analysis reported on Friday. This reading came in higher than the market expectation of 6.7%. The Core PCE …

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• 29 July 2022 4:10 pm

  Shell ADR Earnings, Revenue Beat in Q2

  

  Shell ADR reported on Thursday’s second-quarter earnings that beat analysts’ forecasts and revenue that topped expectations. Shell ADR announced earnings per share of $3.06 on revenue of $100.06B. Shell ADR shares are up 18.48% from the beginning of the year, still down 16.63% from its 52 week high of $61.67 …

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• 29 July 2022 3:32 pm

  Russia: Committed to the goals of OPEC+

  

  The Russian government said in a statement on Friday that it and Saudi Arabia remain firmly committed to the goals of the OPEC+ agreement to maintain market stability and balance supply and demand in global oil markets. Russian Deputy Prime Minister Alexander Novak met with Saudi Energy Minister Prince Abdulaziz …

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• 29 July 2022 2:22 pm

  Eurozone Preliminary GDP expands 0.7% in Q2

  

  The Eurozone economy expanded by 0.7% on the quarter in the three months to June of 2022, beating 0.2% expected and 0.6% previous, the preliminary release showed on Friday. On an annualized basis, the bloc’s GDP rate rose by 4.0% in Q2 vs. 5.4% booked in the first quarter of …

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• 29 July 2022 1:32 pm

  Eurozone Preliminary Inflation surges 8.9% YoY in July

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) accelerated by 8.9% in July vs. June’s 8.6%, the latest data published by Eurostat showed on Friday. The market consensus was for an 8.6% figure. The core figures rose to 4.0% YoY in July when compared to 3.8% expectations and 3.7% …

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