Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 5 July 2022 10:05 pm

  Resignations Quake UK’s 10 Downing Street

  

  UK political Tory resignations are dropping like rain because of widespread feeling of incompetence on the part of the Prime Minister Boris Johnson. So far, the pound is holding up after the initial 12 pip move to the downside vs the US dollar. The first was the British Health Secretary …

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• 5 July 2022 8:57 pm

  GBP/USD under pressure amid risk aversion

  

  Risk aversion continues to weigh on the GBP/USD pair. The pair fell to around 1.1897, the lowest level since March 2020. It remains under pressure around 1.1900. the pair seems unable to find support as markets generally fall.Fears about global recession and a worsening growth outlook in the United Kingdom …

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• 5 July 2022 8:08 pm

  After RBA’s decision, AUD/USD sinks on risk aversion

  

  The AUD/USD pair fell more than 100-pips during the day and probed the YTD low around 0.6763. The Australian dollar followed its fellow peers and is tanking to fresh two-year-lows amidst renewed concerns of a recession looming worldwide, amidst a high inflation scenario, bolstering the appetite for safe-haven peers in …

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• 5 July 2022 7:19 pm

  EUR/USD collapses to twenty-year-lows

  

  The EUR/USD pair collapsed to fresh twenty-year-lows, below the 1.0350 previous low printed on May 13, accelerating towards the 1.0250s region courtesy of a stronger US dollar. The pair loses almost 1.60% during the day.The US Dollar Index advances to twenty-year-highs, above the 106.500 mark, up almost 1.30%, on renewed …

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• 5 July 2022 5:47 pm

  Turkish lira drops 1% as inflation fears return

  

  The Turkish lira fell more than 1 percent against the dollar on Tuesday, giving up early last week’s gains, as investors evaluated data showing a new rise in inflation to a 24-year high. The lira was trading at 17.03 against the US currency by 1232 GMT, down from the previous …

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• 5 July 2022 5:15 pm

  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 2:42 pm

  The euro falls to its lowest level in 20 years as fears of a recession grow

  

  The euro fell to its lowest level in twenty years during trading Tuesday, July 5th, after losing more than 1% of its value to record 1.0283 against the dollar. This comes with the growing fears of recession in the euro zone, and the rise in prices, without any indications that …

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• 5 July 2022 1:48 pm

  Gold prices fall as growth concerns ease due to rising dollar and interest

  

  Gold prices fell in limited trading on Tuesday, after the strong performance of the dollar and the expected hike in interest rates outweighed the supportive effect of gold from concerns about the outlook for the global economy. And gold fell in spot transactions 0.2 percent to $ 1805.20 an ounce …

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• 5 July 2022 12:38 pm

  European shares rise on hopes of easing Chinese tariffs

  

  European shares rose in early trading on Tuesday after positive economic data from Asia and signs of easing tensions between the United States and China overshadowed fears of a global slowdown, while shares of Scandinavian airline SAS fell after it filed for bankruptcy in the United States. The pan-European Stoxx …

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• 5 July 2022 11:44 am

  Nikkei rises 1% as investors flock to cheap technology stocks

  

  Japan’s Nikkei index closed higher by one percent on Tuesday as investors sought to snipe declining technology shares, as well as stocks receiving support from rising Asian stocks and US futures. The Nikkei rose 1.03 percent to close at 26,423.47 points. The broader Topix index rose 0.5 percent to 1,879.12 …

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• 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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