Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 4 July 2022 3:08 am

  Financial Markets’ Weekly Recap, June 27 – July 1

  

  Financial Markets’ Weekly Recap, June 27 – July 1 Last week, financial markets sent several warnings that global economic growth slowdown is looming and recession has become most probable, however there is no general agreement among market participants on ‘when’ entering into recession could take place.  Gold As trading kicks …

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• 2 July 2022 2:59 am

  Market Drivers – US Session – Friday, July 1

  

  Investors and traders do monitor potential headwinds in loan growth and credit quality in the banking sector as JPMorgan Chase & Co. JPM, +1.28% and Morgan Stanley MS, +0.91% are scheduled to report earnings on Thursday, July 14, as the first two of the big-six US banks. US equities finished …

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• 2 July 2022 2:35 am

  Wall Street profit expectations for megabanks retreat

  

  Citigroup Inc. C, +1.91% and Wells Fargo & Co. WFC, +1.91% both report earnings on Friday, July 15, while Bank of America Corp. BAC, +1.38% and Goldman Sachs Group Inc. GS, +0.74% weigh in on July 18. The detachment between healthy business performance and poorly share prices in 2022 seems …

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• 2 July 2022 1:03 am

  US equities kick of July with gains

  

  US equities ended a choppy session higher on Friday, as equities steadied after their worst start to the year in decades. The S&P 500 rose by about 1.1% to end at 3,825.33 after fluctuating between gains and losses throughout the session. The Dow Jones Industrial Average added 322 points, or …

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• 2 July 2022 12:20 am

  EUR/USD Threatens Big Break In Q3

  

  The Euro is expected to mark an outside-weekly reversal against the US Dollar with EUR/USD plunging more than 1.3%. The price approaches support into the start of 2022 third quarter with the technical considerations highlighting the threat for further losses in the weeks ahead. In last month’s Euro Weekly Price …

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• 1 July 2022 11:40 pm

  AUD/USD pressured by mixed sentiment

  

  The AUD/USD pair reached a new YTD low at around 0.6776. US ISM Manufacturing PMI for June continued expanding but at a slower rhythm.At 0.6821, the AUD/USD stays depressed and ready to finish the week with substantial losses of 2%. The mixed market sentiment and a pullback in the US …

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• 1 July 2022 10:38 pm

  USD/CHF Lifted By Buyers

  

  The USD/CHF is about to finish the trading week with decent gains of 0.39%. Risk-aversion dominates Friday’s US session, as throughout the whole week. The USD/CHF pair also accelerates and reclaims the 0.9600 figure after negative US economic data, showing that the economy, although expanding, is doing it at a …

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• 1 July 2022 9:54 pm

  US Active Rig Count Drops

  

  The number of total active drilling rigs in the United States fell by 3 this week, according to new data from Baker Hughes published on Friday. The total rig count slid to 750 this week—275 rigs higher than the rig count this time in 2021.Oil rigs in the United States …

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• 1 July 2022 9:19 pm

  Wells Fargo: June’s ISM Manufacturing Data consistent with slower activity pace

  

  Data released on Friday showed the ISM Manufacturing PMI dropped more than expected in June to 53, the lowest level in two years. According to Wells Fargo’a analysts the details of the report demonstrate slower activity in the manufacturing sector, but also that supply problems continue to ease, but only …

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• 1 July 2022 8:03 pm

  Gold rebounds above $1800 as US yields tumble

  

  Gold prices are trimming daily losses as the dollar soars on markets’ prevalent risk aversion. US yields collapse amid fears of a recession.Silver also trimmed losses dragged to the upside by gold. XAG/USD bottomed at $19.38, level not seen since July 2020 and it is trading at $19.75, down 2.60%. …

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• 1 July 2022 7:28 pm

  Bitcoin Loses Aggregate 56% In Second Quarter

  

  Bitcoin price has finished the first half of 2022 and things prospects do not seem good. With record negative returns, BTC is likely to continue falling heading lower, particularly if one particular support level happens to be breached. Bitcoin price crashed by 56% in the second quarter, making it the …

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• 1 July 2022 6:06 pm

  US ISM Manufacturing PMI Falls Below Expectations

  

  The business activity in the US manufacturing sector expanded at a much softer pace in June than it did in May with the ISM Manufacturing PMI dropping to 53 from 56.1. This print came in weaker than the market expectation of 54.9.Further details of the publication showed that Employment Index …

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• 1 July 2022 5:18 pm

  Survey: OPEC oil production fails again to achieve the target in June

  

  A Reuters survey showed on Friday that OPEC did not commit in June to the oil production increase it pledged under an agreement with allies, as involuntary declines in Libya and Nigeria erased the impact of supply increases by Saudi Arabia and other major producers. The survey found that the …

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