Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 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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• 29 July 2022 1:14 pm

  Yen is heading for the largest weekly gain in 4 months against USD

  

  The Japanese yen rose on Friday, set for its biggest weekly gain in four months against the dollar on bets that US interest rates are nearing a peak after data on Thursday showed that the world’s largest economy unexpectedly contracted in the second quarter. Futures markets expect US interest rates …

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• 29 July 2022 12:11 pm

  European shares set for best month since November 2020 thanks to strong earnings

  

  European shares rose on Friday, set for their first monthly gain in four months as solid corporate earnings overshadowed global recession fears. Meanwhile, the focus now turned to eurozone inflation and gross domestic product data due later on Friday. The pan-European STOXX 600 index rose 0.7 percent by 0715 GMT, …

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• 29 July 2022 11:28 am

  Gold is heading for its best week in 5 months with weak dollar

  

  Gold prices rose on Friday as the dollar and bond yields continued to decline in the wake of US economic data, setting the yellow metal on course for its best week in nearly five months. By 0616 GMT, gold in spot transactions increased 0.6 percent to $ 1766.08 an ounce. …

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