Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 21 June 2022 12:02 am

  Is Biden’s Visit to KSA A Magic Wand Cooling Energy Prices?

  

  US President Biden is using key political capital by meeting with Saudi Crown Prince Mohammed Bin Salman in an attempt to convince the Kingdom to stabilize global oil markets and ease prices for Americans at the gas pump. Saudi Arabia’s position as the world’s second largest oil producer and unofficial …

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• 20 June 2022 10:39 pm

  USD/CHF hovers around 0.9670s

  

  The Swiss franc is registering modest gains of 0.20%, as reflected by the falling of the USD/CHF pair. The pair is retracing from the 50-day moving average and last Friday’s high at 0.9708, down towards the 0.9670s, courtesy of a risk-on impulse as shown by European equities closing in the …

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• 20 June 2022 9:38 pm

  Fed’s Bullard: Seeing effects of Fed guidance on economy

  

  “The Fed still has to follow through to ratify the forward guidance previously given but the effects on the economy and on inflation are already taking hold,” St. Louis Federal Reserve Bank President James Bullard said on Monday.Bullard repeated that the US labour market remains robust and added that the …

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• 20 June 2022 8:29 pm

  ECB’s Lagarde sticks to rate-hike plans

  

  European Central bank President Christine Lagarde reaffirmed on Monday plans to raise the ECB’s interest rates twice this summer while fighting widening spreads in the borrowing costs of different Eurozone countries.“These decisions underpin our previous commitments to adjust all of our instruments within our mandate, incorporating flexibility if warranted, to …

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• 20 June 2022 7:41 pm

  BOE’s Mann: My views on interest rates are not about defending sterling

  

  Bank of England policymaker Catherine Mann said on Monday that her views on the BOE’s rate outlook were not about defending the British pound.“There is an important difference of view on the Monetary Policy Committee (MPC) on the resilience of UK consumption,” Mann added. “Since the May MPC meeting, I …

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• 20 June 2022 5:00 pm

  Oil prices stabilize as the market balances recession fears and tight supplies

  

  Oil prices stabilized on Monday, after struggling to recoup last week’s losses, as the market worked to balance tight supplies and fears of slowing global economic growth. Brent crude futures were down 38 cents, or 0.3 percent, at $112.74 a barrel. Brent prices fell 7.3% last week, the first weekly …

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• 20 June 2022 3:40 pm

  Saudi oil exports rose in April on a monthly basis to 7.38 million bpd

  

  Citing monthly export data for the Joint Data Initiative “JODI”, the International Energy Forum said that Saudi Arabia’s crude exports in April rose to 7.38 million barrels per day from 7.235 million barrels per day in March. The forum indicated that the data highlights that global oil demand fell on …

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• 20 June 2022 2:28 pm

  The euro rises with a focus on ECB

  

  The euro rose on Monday as markets focused on the European Central Bank’s anti-fragmentation tools in the eurozone, even as French President Emmanuel Macron lost an outright majority in legislative elections. The final results showed that Macron’s “Together” alliance obtained the largest number of votes in the National Assembly elections, …

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• 20 June 2022 12:33 pm

  Nikkei closes at its lowest level in more than five weeks

  

  Japan’s Nikkei closed at a more than five-week low on Monday as energy and chip-related shares led losses as investors struggled to find signs of market action due to a holiday in the United States. The Nikkei index fell 0.74 percent to 25,771.22 points, its lowest closing level since May …

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• 20 June 2022 12:02 pm

  People’s Bank of China keeps interest rates unchanged

  

  The People’s Bank of China kept interest rates unchanged in June at 3.7% for one year and 4.45% for 5 years, in a move that was expected by most investors. The Central Bank had reduced interest rates for one year during the months of November and December of last year …

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• 20 June 2022 10:41 am

  China’s imports of Russian oil in May recorded a record increase

  

  China’s imports of Russian crude oil in May hit a record for one month of 8.42 million tons (about 1.98 million barrels per day), up 55 percent from the same month in 2021, according to Chinese customs data. Customs data released on Monday also showed that China imported 260,000 tons …

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• 20 June 2022 10:20 am

  Bitcoin climbs 5.7% to $20,455

  

  Cryptocurrency bitcoin rose 5.69 percent to $2,045.29 by 2003 GMT Sunday, up $1,079.23 from its previous close. With this, Bitcoin, the largest and most popular cryptocurrency in the world, is up 13.9 percent from this year’s low of $1,7592.78, which it hit on Saturday. Ether rose 10.42 percent to $1,100.07 …

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• 20 June 2022 2:14 am

  Janet Yellen: Recession isn’t inevitable, but inflation remains unacceptably high

  

  The US Treasury Secretary expects the US economy to slow” to more “stable growth”. A recession is not “at all inevitable” as the Fed takes increasingly aggressive action to address sharply rising inflation, Treasury Secretary Janet Yellen said Sunday.“Clearly, inflation is unacceptably high,” Yellen continued. “It’s President Joe Biden’s top …

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