Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 22 July 2022 6:59 pm

  US S&P Services PMI drops to 47 below expectations

  

  Business activity in the US service sector retreated in early July with S&P Global Services PMI dropping to 47 versus 52.7 in June. This reading came in much weaker than the market expectation standing at 52.6.The US dollar came under strong selling pressure after this report and the US Dollar …

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• 22 July 2022 5:42 pm

  Gold rises, supported by lower US Treasury yields

  

  Gold prices rose on Friday, supported by lower US Treasury yields, although the prospects of a Federal Reserve interest rate hike and a stronger dollar limited gains. By 1215 GMT, spot gold rose 0.5% to $1,727.09 an ounce. Prices fell to a more than one-year low of $1,680.25 on Thursday …

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• 22 July 2022 5:00 pm

  Oil prices are falling as production resumes in Libya and demand expectations weaken

  

  Oil prices fell on Friday as the outlook for global demand weakened, as well as the resumption of some Libyan crude oil production. By 1023 GMT, Brent crude futures fell $1.02 to $102.84 a barrel. West Texas Intermediate crude futures fell $1.08 to $95.27 a barrel. Friday’s data revealed that …

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• 22 July 2022 4:15 pm

  The Russian ruble falls above 58 against the dollar after cutting interest rates

  

  The Russian ruble fell above 58 against the dollar on Friday, falling to its weakest point during the morning after the central bank cut interest rates for the fourth time this year by 150 basis points to 8 percent, exceeding expectations. By 1047 GMT, the ruble fell 1.9 percent to …

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• 22 July 2022 3:11 pm

  Inflation in Japan jumps to its highest level since 2015 to 2.2%

  

  Japan’s headline inflation gauge rose over the past month, exceeding the 2% target level set by the Bank of Japan. The CPI growth rate, excluding fresh food, accelerated to 2.2% in June annually. This came as energy cost inflation was exacerbated by the weak yen and higher processed food prices. …

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• 22 July 2022 2:31 pm

  Nikkei closes at 6-week high

  

  The Japanese Nikkei index rose to its highest level in more than 6 weeks at the close on Friday, July 22, supported by gains in growth-related stocks that followed the path of gains on Wall Street in the evening, and the shares of shipping companies, which rose after recording strong …

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• 22 July 2022 12:59 pm

  The dollar is on its way to record weekly losses

  

  The dollar rose strongly on Friday, but remained on track for its biggest weekly loss since the end of May after weak US economic data. The euro fell after climbing to a more than two-week high on Thursday when the European Central Bank raised lending costs in its first rate …

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• 22 July 2022 12:47 pm

  UK Retail Sales fall 0.1% MoM in June

  

  The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dropped to 52.2 in July versus 52.0 expected and 52.8 – June’s final reading. Meanwhile, the Preliminary UK Services Business Activity Index for July arrived at 53.3 when compared to June’s final score of 54.3 and 53.0 expected.

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• 22 July 2022 11:30 am

  Ukraine is discussing with major institutions ways to reduce debt payments

  

  The Ukrainian Government Commissioner for Public Debt Management, Yuri Potsa, said Thursday, July 21, that Kyiv is talking to major international financial institutions about ways to reduce debt payments soon. The comments came a day after Ukraine demanded its international creditors, including Western powers and the world’s largest investment firms, …

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• 22 July 2022 11:11 am

  Gold falls with the rise of USD

  

  Gold prices fell on Thursday to their lowest levels in nearly a year, as prospects for an interest rate hike by major central banks to curb spiralling inflation weighed on the precious metal’s allure. Although gold is considered a hedge against inflation, higher interest rates increase the opportunity cost of …

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• 22 July 2022 3:50 am

  Market Drivers – US Session – Thursday, July 21

  

  All eyes focused on the ECB on Thursday, amid a series of events taking place in the European Union. The most relevant was the central bank’s monetary policy decision on hiking rates by 50 bps, the first hike in over 11 years, and the awaited move away from negative rates. …

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• 22 July 2022 3:24 am

  Snapchat misses on Q2 revenue, shares fell by 23%

  

  Snap announced the company’s second quarter earnings after the closing bell on Thursday, missing Wall Street’s expectations, so shares fell by 23% in after-hours trading.Average revenue per Snapchat user fell 4.5% year-over-year, and the company said it was not providing Q3 guidance given the current financial climate.Snapchat’s earnings follow the …

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• 22 July 2022 2:32 am

  AUD/USD eyes a correction from US session highs

  

  The AUD/USD pair’s performance is flat in the first hour of Asian trade on Friday as it moves in on extremes of a broadening formation on the charts, but fundamentally, the stock markets on Wall Street and the softer US dollar have been a significant catalyst, so, the pair rallied …

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