Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 11 July 2022 8:46 pm

  BoE’s Bailey: Several things on table for August meeting

  

  While testifying before the UK Treasury Select Committee on Monday, Bank of England (BOE) Governor Andrew Bailey argued that they should not pre-commit to the next policy move and said they have a range of options for the August meeting.Bailey’s comments failed to help the British pound find demand and …

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• 11 July 2022 7:47 pm

  US Median 1-year inflation expectations rise to 6.8% in June

  

  The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations showed on Monday that the US Consumers’ one-year inflation expectations rose to 6.8% in June from 6.6% in May. The three-year inflation expectations, however, declined to 3.6% from 3.9%.As a reaction, the US Dollar Index edged slightly lower …

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• 11 July 2022 7:15 pm

  Fed’s George: Speed at which interest rates should rise an open question

  

  Kansas City Fed President Esther George, who voted against the 75 basis points rate hike in June, said on Monday that the pace of rate increases needs to be carefully balanced against the state of the US economy.George’s comments do not have an immediate impact on the US dollar’s valuation. …

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• 11 July 2022 6:00 pm

  Crypto markets await a greener start to the week

  

  The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system. A section of the report dedicated to stablecoins discussed its central role in the current ecosystem. For example, stablecoins are …

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• 11 July 2022 5:15 pm

  Nord Stream pipeline begins annual maintenance with Europe concerned

  

  The Nord Stream 1, the biggest single pipeline carrying Russian gas to Germany, starts annual maintenance today, with flows expected to stop for ten days.  Some European governments, markets and companies worry that the shutdown might be extended. The Nord Stream 1 pipeline transports 55 billion cubic metres a year …

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• 11 July 2022 4:17 pm

  Ukraine’s grain exports fell 30% at the start of the 2022-2023 season

  

  Ukraine’s Agriculture Ministry said Monday (July 11) that grain exports in the first seven days of July, the first month of the new 2022-2023 season, fell 30% year on year to 402 thousand tons. Grain exports for the 2021-2022 season, ending June 30, rose 8.5% to 48.5 million tons, driven …

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• 11 July 2022 3:24 pm

  Inflation in Spain exceeded 10% in June for the first time since 1985

  

  Spain’s inflation rate rose to 10.2% in June on an annual basis, the first time it has exceeded 10% since April 1985, from 8.7% in the previous month, according to preliminary data from the National Institute of Statistics, with the reading coming in higher than expectations of 9 %. Data …

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• 11 July 2022 1:51 pm

  The dollar rises to its highest against the yen

  

  The dollar rose to a 24-year high against the yen on Monday after good results from Japan’s ruling conservative alliance signaled no change in loose monetary policies and global growth concerns boosted the dollar as a safe haven on a broader scale. The dollar rose to 137.28 yen in morning …

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• 11 July 2022 11:30 am

  Nikkei closes higher after Japan’s coalition government strengthened its majority in parliament

  

  Japan’s Nikkei index closed higher on Monday after Japan’s coalition government consolidated its majority in the upper house of parliament in Sunday’s election. The Nikkei closed up 1.11 percent at 26,812.30 points, after climbing as much as 2 percent earlier in the session to its highest level since June 13. …

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• 11 July 2022 11:01 am

  Gold price declines, as the dollar stabilizes near its highest level in 20 years

  

  Gold fell on Monday as the dollar settled near a 20-year high, continuing to pressure demand for dollar-denominated gold. The price of gold fell 0.1 percent to $ 1740.16 an ounce by 0045 GMT. US gold futures fell 0.2 percent to $1,739.50. The dollar has stabilized near its highest level …

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• 11 July 2022 10:41 am

  Oil price drops due to recession fears and China’s restrictions

  

  Oil prices fell nearly $1 on Monday in choppy trading after worries about a recession and China’s restrictions to combat COVID-19 outweighed persistent concerns about a supply shortage. Brent crude futures were down 82 cents, or 0.8 percent, at $106.20 a barrel. US West Texas Intermediate crude futures fell $1.04, …

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• 9 July 2022 3:20 am

  Twitter will sue Elon Musk to complete deal

  

  Elon Musk decided that he is no longer interested in acquiring Twitter, so he told the company of terminating their deal on Friday.Although Musk signed a binding merger agreement, he said Twitter is in “breach” for allegedly refusing his information requests and making employee changes. The deal has been tumultuous …

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• 8 July 2022 5:39 pm

  EUR/USD trims losses after NFP data

  

  EUR/USD extends the rebound from earlier cycle lows. The US Non-farm Payrolls rose by 372K jobs in June. The unemployment rate remained at 3.6%.Despite the rebound from lows, the selling interest around the single currency remains well and sound and motivates EUR/USD to keep the price action subdued around 1.0100/15 …

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