Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 28 June 2022 8:47 pm

  Gold pressured ahead of Powell’s speech

  

  The Gold Index prolonged its losses for the second successive day. Gold is struggling to stay above the $1820 mark amidst the prevalent positive market sentiment that witnessed a jump in riskier assets, weighing on safe-haven assets, particularly in the precious metal segment.Gold trades at $1820.72, recording minimal losses of …

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• 28 June 2022 8:04 pm

  EUR/USD drops to multi-day lows

  

  The US dollar gains momentum during the US trading session whereas the Euro records fresh lows versus the dollar, the Swiss Franc and British pound.Stocks have erased some gains in Wall Street. The EUR/USD pair dropped further and bottomed at 1.0501, the lowest level since Thursday. It then trimmed losses, …

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• 28 June 2022 7:49 pm

  CB Consumer Confidence Index Drops To 98.7 In June

  

  Consumer confidence in the US continued to weaken in June. The US Dollar Index clings to strong daily gains near mid-104.00s.The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index dropped to 98.7 in June from 103.2 in May. This print came in weaker than …

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• 28 June 2022 6:40 pm

  US Treasury Department: Will prohibit Russian gold imports under latest sanctions

  

  The United States will prohibit Russian gold imports in the latest round of sanctions according to the Treasury Department. The Department announced this news on its website on Tuesday.The market has not reacted to this news headline yet. The Gold Index was down 0.15% on the day at $1,820.Additional takeaways“US …

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• 28 June 2022 6:10 pm

  The dollar rises in Asian trading as investors search for a safe haven

  

  The dollar and the yen rose in a volatile session in Asia on Monday, as they benefited from a search for safe haven amid investor concerns that higher interest rates and weak economic data could mean a global recession is on the horizon. While stocks tracked Wall Street higher, currency …

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• 28 June 2022 5:07 pm

  OPEC Boosts Oil Income in 2021, Well Completions Drop

  

  OPEC’s oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID pandemic, while the number of its members’ active rigs posted a modest rebound and new completed wells declined, data from the group showed. The value of petroleum exports by the 13-member Organization of …

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• 28 June 2022 4:11 pm

  Moody’s agency confirms Russia’s default on foreign debt

  

  Moody’s, a credit rating agency, confirmed that Russia had defaulted on its foreign debt for the first time in 100 years after bondholders confirmed they had not received an interest payment of $100 million. Moody’s said Russian sovereign debt holders had not received their $100 million euro bond payment coupons …

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• 28 June 2022 3:46 pm

  The G7 agrees to study a ceiling on the price of Russian oil

  

  G7 leaders agreed to consider a ban on the transport of Russian oil being sold above a certain price, according to part of the final statement seen by Reuters. “We invite all like-minded countries to consider joining us in what we are doing,” the G7 leaders said.

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• 28 June 2022 2:31 pm

  Oil extends gains as major producers signal production limits

  

  Oil prices rose for a third day in a row on Tuesday as major producers such as Saudi Arabia and the United Arab Emirates seem unlikely to be able to increase production significantly, while political turmoil in Libya and Ecuador heightened supply concerns. The price of US West Texas Intermediate …

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• 28 June 2022 1:13 pm

  Nike revenue dips 1% as sales slow in China, US

  

  Nike said revenue dipped 1 per cent to $12.2 billion in the fourth quarter due to inventory pileups, lagging sales in China and ongoing supply chain disruptions, marking the first time the company’s quarterly sales have declined since the first quarter of 2020. “These are times when strong brands get …

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• 28 June 2022 12:53 pm

  Commodity stocks lead European markets higher

  

  European shares rose on Tuesday, boosted by gains in commodity-related stocks and automakers after China eased quarantine restrictions related to COVID-19. The pan-European Stoxx 600 index rose 0.9 percent by 0714 GMT, rising for the third consecutive session, amid waning concerns about the central bank’s moves to tighten monetary policy …

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• 28 June 2022 12:17 pm

  Japan’s Nikkei index rises at the close, supported by energy stocks

  

  Japan’s Nikkei rose and crossed the significant 27,000-point level for the first time in two weeks on Tuesday, boosted by a rise in energy stocks, though uncertainty over US interest rate hikes limited gains. The Nikkei rose 0.66 percent to close at 27,049.47 points, close to its highest level during …

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• 28 June 2022 3:38 am

  Market Drivers – US Session – Monday, June 27

  

  Gold advanced at the beginning of the day, but finishes it in the red at around $1,824.00 per ounce. WTI, records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ cuts 2022 market surplus from …

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