Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 7 July 2022 8:07 pm

  Canada’s Ivey PMI shows activity growing at slowest pace in 4 months

  

  Canadian economic activity expanded at its slowest pace in four months in June as prices cooled, Ivey Purchasing Managers Index (PMI) data showed on Thursday.The seasonally adjusted index fell to 62.2 from 72.0 in May, its lowest level since February. The Ivey PMI measures the month-to-month variation in economic activity …

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• 7 July 2022 7:12 pm

  ECB’s Stournaras: Not observing excessive wage demand in Europe

  

  European Central Bank Governing Council member Yannis Stournaras noted on Thursday that the monetary policymakers are not observing excessive wage demand in Europe.In the meantime, ECB policymaker and Governor of the Central Bank of Cyprus Constantinos Herodotou said that they are not targeting exchange rates while adding that they do …

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• 7 July 2022 3:57 pm

  US oil stocks rose by 3.8 million barrels

  

  The American Petroleum Institute said that crude oil inventories rose by 3.8 million barrels in the week ending July 1. In its weekly report, the American Institute stated that gasoline stocks fell by 1.8 million barrels last week, and distillate stocks fell by 635,000 barrels. The release of the inventories …

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• 7 July 2022 2:13 pm

  Euro rises from its lowest level in 20 years

  

  A slight decline in the dollar gave the euro some recovery, allowing it to bounce off its two-decade low reached this week after higher energy prices fueled recession fears. Risky assets, including the euro, managed to post gradual gains on Thursday as investors cautiously deal with rising recession risks and …

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• 7 July 2022 1:07 pm

  UK PM Johnson will reportedly announce his resignation

  

  Several news outlets reported on Thursday that British Prime Minister Borish Johnson is expected to announce his resignation. According to the BBC Johnson is set to make a statement within hours. The PM will reportedly stay on as the leader of the Conservative Party until a new leader is chosen …

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• 7 July 2022 1:05 pm

  European shares rise, supported by energy companies and chip makers

  

  European shares rose on Thursday, boosted by oil companies and chip makers that were supported by strong preliminary results announced by the Korean Samsung, while investors awaited the European Central Bank meeting statement for indications of a rate hike. The pan-European STOXX 600 index rose 0.8% by 0718 GMT, after …

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• 7 July 2022 1:04 pm

  Japan shares close higher as technology shares rebound

  

  Japanese stocks closed higher on Thursday, July 7, as investors continued to seek to benefit from a decline in technology stocks, with sentiment boosted by the gains made by Wall Street overnight. The Nikkei index rose 1.47% to close at 26,490.53 points, and the broader Topix index rose 1.42% to …

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• 7 July 2022 10:42 am

  Less-than-expected rise in German industrial production in May

  

  German industrial production rose less-than-expected in May, official data showed on Thursday, as supply chain problems stemming from the war in Ukraine and COVID-19-related shutdowns in China made it difficult to process orders. The Federal Statistics Office said industrial output rose 0.2 percent month-on-month, after an upwardly revised 1.3 percent …

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• 7 July 2022 3:39 am

  Market Drivers – US Session – Wednesday, July 6

  

  The head of the International Monetary Fund on Wednesday said the outlook for the global economy had darkened significantly since April and she could not rule out a possible global recession next year given the elevated risks.Recession-linked fears are still accelerating and leading the way across all financial markets and …

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• 7 July 2022 3:28 am

  USD/CAD retreats as oil recovers

  

  The USD/CAD pair remains pressured around 1.3030, extending the previous day’s pullback from the highest levels since late 2020, as traders pare USD gains amid a quiet Asian session on Thursday. It is worth noting that the bounce in the prices of Canada’s main export item, WTI crude oil also …

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• 7 July 2022 3:21 am

  This week’s NFP Data Act As Real Test For Dollar’s Performance

  

  While the calendar’s second half of the year started last Friday, on the first of July, it will practically begin in the financial markets with the upcoming US jobs data scheduled to be released this Friday. Non Farm Payroll data will be very useful to gauge where the USD currently …

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• 7 July 2022 3:12 am

  Goldman Sachs’ First Bitcoin Activity Signals A Big Move

  

  Goldman Sachs reportedly opened first BTC futures and options position. Invalidation of the bearish downtrend is a break and close above $21,868.Bitcoin price shows technical reasons to believe in one more decline. Goldman Sachs’ entrance into the crypto market is a strong indication of a big move to come.Bitcoin price …

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• 7 July 2022 2:47 am

  Oil retreats 2% on global recession-linked fears

  

  WTI continued to slide on Wednesday on recession fears. Analysts said oil prices dropped due to recession fears; citing numerous reasons, including the unwinding of the oil trade as inflation hedge, a stronger US dollar, hedge funds reacting to negative oil price momentum, producer hedging, and new mobility restriction concerns …

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