Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 5 July 2022 10:56 am

  Oil rises as tight supplies outweigh recession fears

  

  Oil prices rose on Monday as supply concerns driven by lower OPEC production, unrest in Libya and sanctions against Russia outweighed concern about a global recession slashing demand for crude. Inflation in the euro area hit another record high in June, which strengthens the case for rapid interest rate increases …

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• 5 July 2022 10:33 am

  RBA hikes OCR by 50 bps to 1.35%, as expected

  

  At its July 5 monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to raise the official cash rate (OCR) by 50 basis points (bps) from 0.85% to 1.35%, as widely expected. A Reuters poll of 33 economists showed the RBA will increase its cash rate by …

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• 5 July 2022 4:01 am

  Market Drivers – US Session – July 4

  

  Asian shares achieved shy gains, but European indexes maintained the green the territory with some difficulty, reflecting persistent growth and inflation concerns while Wall Street futures responded to such fears by edging lower.Financial markets witnessed a quiet start of the week, as US markets were closed commemorating the Independence Day …

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• 5 July 2022 2:50 am

  RBA Expecteed To Hike Interest Amid Recession Fears

  

  The Reserve Bank of Australia is expected to decide an additional increase the national interest rate amid accelerating recession-linked concerns. The RBA will have July’s monetary policy meeting on Tuesday amid expectations of interest rate hike for the third successive time. RBA policymakers indicated that a 0.25 or a 0.5 …

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• 5 July 2022 1:23 am

  BTC/USD Struggles With Support Ahead Of FOMC Minutes

  

  Bitcoin price, despite latest improvement above $20k, has remained vulnerable to economic data particularly ahead of the awaited FOMC Minutes.BTC/USD currently consolidates between key technical support and resistance. Cryptocurrencies tend to benefit from the US holiday but most crypto assets are expected to encounter a relatively tough week ahead. After …

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• 5 July 2022 12:33 am

  Gold steadies in the quiet before the storm

  

  At $1,807.17, gold price is slightly retreating in the midday US session as markets are on holiday. Bond markets are closed on the occasion of the US Independence Day, but the US dollar has seen two-way price action which has both supported and sunk gold at the start of the …

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• 4 July 2022 11:24 pm

  GBP/USD flattened ahead of UK PMIs, US Factory Orders

  

  The British pound’s performance is flat during the day, though slightly positive after a noticeably quiet trading day. Weaker UK economic data, high inflation, and slowing growth paint a stagflationary scenario for the GBP.On Tuesday, the UK S&P Global/CIPS Services and Composite PMIs to shed additional information on the British …

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• 4 July 2022 10:31 pm

  EUR/USD Drops Toward 1.0400 On Independence Day Holiday

  

  US markets are closed and price action is limited. So far, the US dollar recovers and turns positive. But, the EUR/USD pair seems unable to hold to gains, and is still vulnerable.The EUR/USD dropped from 1.0461 to 1.0416, approaching the Asian session low as the US dollar recovered strength. Volatility …

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• 4 July 2022 9:47 pm

  Turkey’s inflationary pressures would continue due to domestic, global factors

  

  The Consumer Price Index Turkey rose in June by 4.98%, and the annual rate approached 8%; slightly lower than market consensus (5.7%) and expectations that suggest (5.5%), which resulted in an annual figure of 78.6%. The downside surprise was due to lower food prices, particularly processed food conflicting with the …

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• 4 July 2022 8:04 pm

  Scholz: Current crisis won’t be over in a few months

  

  German Chancellor Olaf Scholz said on Monday that his government will continue to meet regularly with unions on energy price and inflation issues while noting that the current crisis will not be over in a few months.Scholz’s comments don’t have any immediate impact on the Euro’s performance against rival currencies. …

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• 4 July 2022 7:21 pm

  ECB’s de Guindos: Elevated inflation will remain with us for some time

  

  European Central Bank Vice President Luis de Guindos said on Monday that they have seen inflationary pressures broaden and intensify across many goods and services in recent months.The EUR/USD pair showed no immediate reaction to these remarks and was last seen trading flat on the day at 1.0430.Key Quotes“Elevated inflation …

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• 4 July 2022 6:02 pm

  The dollar is falling against the euro and pound

  

  The euro and sterling rose against the dollar on Monday in quiet trade amid the holiday season in the United States while risk appetite improved globally. With US markets closed for the Independence Day holiday, markets expected light trading on Monday and major currencies gained ground at the expense of …

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• 4 July 2022 4:50 pm

  Gold prices fall as rates rise in July

  

  Gold prices fell on Monday as higher interest rates made the precious metal less attractive but the dollar’s decline helped hold gold above the $1800 support. Spot gold fell 0.2 percent to $1,806.58 an ounce by 1121 GMT, after touching a five-month low of 1,783.50 on Friday. US gold futures …

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