Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 27 June 2022 3:22 pm

  G7 still working on precise mechanism to implement price cap on Russian oil

  

  With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. According to Reuters. “To issue coordinated steps tomorrow to raise pressure on Russia.”“Targeting services for transporting Russian oil is a ‘promising avenue’.”“US will impose higher …

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• 27 June 2022 2:50 pm

  Kremlin spokesman: Russia rejects accusations of defaulting on its foreign debts

  

  A Russian Kremlin spokesman has rejected accusations that Russia has defaulted on its foreign debt for the first time in more than a century. In a call with reporters, Kremlin spokesman Dmitry Peskov said that Russia had made bond payments due in May but had been blocked by Euroclear due …

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• 27 June 2022 2:22 pm

  Russia on the brink of historic debt default as payment period expires

  

  Some Russian bondholders told Reuters they were not getting the $100 million interest they were supposed to receive after the day. For many bondholders, failure to pay on time amounts to a debt default. The Kremlin has repeatedly emphasized the idea that Russia will not default, but that sanctions against …

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• 27 June 2022 2:10 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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• 27 June 2022 12:55 pm

  European stocks rise to two-week highs as commodity prices rise

  

  European shares jumped on Monday to their highest level in two weeks, supported by mining and oil stocks, as the easing of measures to curb the outbreak of Covid-19 in China led to an increase in commodity prices. The pan-European Stoxx 600 index rose 0.7 percent by 0716 GMT, reversing …

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• 27 June 2022 12:17 pm

  Nikkei rises for the third consecutive session, supported by technology stocks

  

  The Japanese Nikkei index rose for the third consecutive session on Monday, boosted by technology heavyweights, after Wall Street rose at the end of last week. The Nikkei closed up 1.43 percent at 2,6871.27 points, after rising as much as 1.7 percent. The broader Topix index jumped 1.12 percent to …

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• 27 June 2022 11:42 am

  The Turkish lira rises 6% against the dollar after restrictions on lending

  

  The Turkish lira jumped 6 percent against the dollar on Monday after Turkey moved to limit lira lending to many companies with more than $1 million in foreign currency cash, the latest move to stem the currency’s slide. The lira jumped to 16.099 against the dollar, after closing on Friday …

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• 27 June 2022 11:05 am

  Oil continues to rise ahead of G7 talks on Russian exports

  

  Oil prices extended gains on Monday as investors awaited any moves against Russian oil and gas exports that might be taken during the Group of Seven leaders meeting in Germany. There is a looming prospect of tighter market supplies as Western governments seek ways to reduce Russia’s ability to finance …

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• 27 June 2022 10:39 am

  Gold rises as G7 intends to ban the import of the metal from Russia

  

  Gold prices rose on Monday as news that some Western countries are planning to formally ban imports of the metal from Russia due to its invasion of Ukraine sparked some interest in gold. And gold rose in spot transactions 0.5 percent to $ 1835.58 an ounce. US gold futures rose …

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• 27 June 2022 5:22 am

  Financial Markets’ Weekly Recap, 20 – 24 June

  

  Federal Reserve Chairman Jerome Powell testified before the Senate Committee on Banking, Housing, and Urban Affairs on “the semiannual monetary policy report to congress” Wednesday. Earlier this month, the Fed hiked rates by 75 basis points, or 0.75 percentage point. “Clearly, today’s 75 basis point increase is an unusually large …

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• 25 June 2022 4:41 am

  Market Drivers – US Session – Friday, June 24

  

  Risk appetite improved during the US session. US shares rallied and closed with robust gains after retreating to bear market levels, meaning losses of 20% or more from all-time-highs. Gold continues for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year T-yields and the …

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• 25 June 2022 2:52 am

  Country By Country Inflation Rate Vs Rate Hikes

  

  Today’s hot inflation could be likened to a speeding vehicle down a hill. In order to slow down, there would be a need to push the brakes. In this case, interest rate hikes are more of brakes in this situation, but some major central banks hit the brakes faster than …

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• 25 June 2022 1:17 am

  Western Allies Face Frustration Over Russia Sanctions

  

  The Western countries aligned against Russia face growing economic pain as sanctions and embargoes show little impact and no change on the Russian stance. US officials vowed that Russia’s financial system would be battered if it attacked Ukraine, and President Biden boasted in March that sanctions were “crushing the Russian …

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