Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 29 July 2022 2:48 am

  WTI’s recovery still elusive below $98.00

  

  WTI crude oil prices pare recent losses around $96.50 during Friday’s Asian session. Oil once again attempted to penetrate a three-week-long symmetrical triangle after the previous day’s failed attempt.WTI buyers need a daily closing beyond the $98.00 comprising the stated triangle’s upper line and the 21-DMA, to keep reins. Following …

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• 29 July 2022 1:04 am

  Yellen: US economy was transitioning to ‘steady, sustainable’ growth

  

  Treasury Secretary Janet L. Yellen pointed out the robust labour market, high business and consumer spending and strong industrial output as signs of the economy’s health. US President Biden and Treasury Secretary Janet L. Yellen on Thursday dismissed questions about whether the US economy was already in a recession, pointing …

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• 29 July 2022 12:34 am

  Yen, Swiss franc draw safe-haven flows on US recession news

  

  Volatility erupted in the forex market after the US officially entered a technical recession in the second quarter of 2022 and Europe’s energy crisis keeps inflation sticky high. This development followed the Fed’s second consecutive 75-basis-point interest rate hike, for the first time since early 1980s.Today, currency flows shifted to …

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• 28 July 2022 11:44 pm

  EUR/USD falls despite negative US data

  

  The EUR/USD pair falls due to weaker than expected EU economic data, facing strong headwinds with the energy crisis, and slower economic growth. The US GDP in the second quarter showed signs of contraction, meaning the US is in a “technical recession”.Inflation in Germany tops around 8.6% YoY, while the …

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• 28 July 2022 11:27 pm

  Fed expected to take rate to 3.50% by the end of 2022

  

  The latest FOMC meeting raised the key interest rate by 75 basis points, as expected. Analysts stick with our forecast that the Fed will take the fed funds rate to a 3.25-3.50% by the end of this year, shifting to a 50 bps hike in September, followed by two consecutive …

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• 28 July 2022 10:39 pm

  Declining Ad spending hits social media firms, but not equally

  

  The one thing Google, Snapchat, TikTok and Facebook all have in common is their business model that rely a lot on selling advertisements. This is why they of course share something else: a problem. Google is expected to comprise 30% of total worldwide digital ad revenues this year. Snapchat and …

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• 28 July 2022 10:02 pm

  Bitcoin Refreshes Above $23,400

  

  On Thursday, Bitcoin price analysis implies a consolidation following the previous day’s impressive gains. The price opened lower and traveled to touch the intraday high of $23,455, which acted as a strong resistance for the price as it coincided with the critical 50-day moving average.The BTC/USD pair is exchanging hands …

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• 28 July 2022 9:17 pm

  US equities retreat following Fed-inspired surge

  

  The stock market was slipping Thursday following its recent Fed-inspired surge after news headlines said that the US economy shrank for two successive quarter as any two consecutive quarters of declines in growth traditionally constitute a recessionThe Dow Jones Industrial Average was down 121.60 points, or 0.38%, at 32,075.99, the …

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• 28 July 2022 8:54 pm

  Chinese President opposes Taiwan independence, interference of external forces

  

  Chinese President Xi Jinping told US President Joe Biden on Thursday that they firmly oppose Taiwan’s independence and the interference of external forces, Chinese state media reported.“Those who play with fire will only get burnt,” Xi told his American counterpart during the phone call, as per Reuters. “Hope the US …

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• 28 July 2022 8:34 pm

  Biden: ‘No surprise, economy slowing down’ as economy enters technical recession

  

  The United States enters technical recession as economy shrank 0.9% in Q2 following two successive quarters of negative GDP growth. President Biden reacted to Thursday’s GDP report, saying it is “no surprise that the economy is slowing down” amid inflation, despite saying earlier this week that the US would not …

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• 28 July 2022 8:23 pm

  When does a real recession begin?

  

  This question normally weighs on consumers, politicians and investors around the world every time the US central bank decides interest rate hikes. Is the US economy in a recession? The reasonable answer, so far, is: “maybe”, in other words; it is “A Mix of Yes and No”. For many people, …

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• 28 July 2022 7:29 pm

  Gold surges to conquer $1750 on US Q2 GDP reading

  

  Gold price advances more than 1%, recording back-to-back gains for the first time since July 21-22. The US Q2 GDP, on its preliminary reading, contracted, meaning the US is technically in a recession.The US economic calendar on Friday will update the Fed’s favorite inflation gauge, alongside the UoM Consumer Sentiment.Gold …

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• 28 July 2022 7:01 pm

  OPEC+ expected to keep output steady or slightly raise in September

  

  Citing eight sources familiar with the matter, Reuters reported on Thursday that the Organization of the Petroleum Exporting Countries (OPEC) and allies, collectively known as OPEC+, were planning to leave the oil output unchanged for September.Sources also acknowledged that a modest output increase could be discussed amid calls from the …

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