Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 28 June 2022 2:31 pm

  Oil extends gains as major producers signal production limits

  

  Oil prices rose for a third day in a row on Tuesday as major producers such as Saudi Arabia and the United Arab Emirates seem unlikely to be able to increase production significantly, while political turmoil in Libya and Ecuador heightened supply concerns. The price of US West Texas Intermediate …

  Read More »
• 28 June 2022 1:13 pm

  Nike revenue dips 1% as sales slow in China, US

  

  Nike said revenue dipped 1 per cent to $12.2 billion in the fourth quarter due to inventory pileups, lagging sales in China and ongoing supply chain disruptions, marking the first time the company’s quarterly sales have declined since the first quarter of 2020. “These are times when strong brands get …

  Read More »
• 28 June 2022 12:53 pm

  Commodity stocks lead European markets higher

  

  European shares rose on Tuesday, boosted by gains in commodity-related stocks and automakers after China eased quarantine restrictions related to COVID-19. The pan-European Stoxx 600 index rose 0.9 percent by 0714 GMT, rising for the third consecutive session, amid waning concerns about the central bank’s moves to tighten monetary policy …

  Read More »
• 28 June 2022 12:17 pm

  Japan’s Nikkei index rises at the close, supported by energy stocks

  

  Japan’s Nikkei rose and crossed the significant 27,000-point level for the first time in two weeks on Tuesday, boosted by a rise in energy stocks, though uncertainty over US interest rate hikes limited gains. The Nikkei rose 0.66 percent to close at 27,049.47 points, close to its highest level during …

  Read More »
• 28 June 2022 3:38 am

  Market Drivers – US Session – Monday, June 27

  

  Gold advanced at the beginning of the day, but finishes it in the red at around $1,824.00 per ounce. WTI, records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ cuts 2022 market surplus from …

  Read More »
• 28 June 2022 3:03 am

  Wall Street falls after recent big gains

  

  Monday witnessed a volatile trading session and US stocks ended slightly lower after posting sharp gains the week before, while oil prices and Treasury yields rose.Economic data on Monday showed new orders for US-made capital goods and shipments increased solidly in May, pointing to sustained strength in business spending on …

  Read More »
• 28 June 2022 2:37 am

  T-yields rise after poor auction

  

  US Treasury yields rose on Monday as durable goods orders data and pending home sales were surprisingly higher than expected. The sale of two- and five-year notes was weak as the market gauges the economy and Federal Reserve efforts to tame inflation. The Treasury sold $97 billion in two- and …

  Read More »
• 28 June 2022 2:03 am

  UK House of Commons Passes NI Protocol

  

  Proposed legislation to allow the UK to unilaterally rip up Brexit arrangements for Northern Ireland at the risk of a trade war with the EU passed the second reading stage in the House of Commons on Monday night.As for the market’s reaction, the GBP/USD pair extends retreat from over a …

  Read More »
• 28 June 2022 1:39 am

  NZD/USD Pressured Despite Weaker US Dollar

  

  The US session was mixed with the US dollar dragged downwards in the absence of any catalyst, and was weakened further because of Monday’s manufacturing data. The Dallas Fed Manufacturing Index fell to frustrating -17.7 in June, down from the previous reading of -7.3 in May, putting it at its …

  Read More »
• 28 June 2022 12:02 am

  Gold pressured, but eying $1,840

  

  Gold is under pressure despite the weaker the US dollar. At $1,823, gold price is down by 0.23% while the US dollar is also underwater, currently down by 0.18%. The US dollar has struggled versus its major rivals at the start of the week due to expectations concerning inflation which …

  Read More »
• 27 June 2022 11:07 pm

  SEC Chair labels bitcoin a ‘commodity’

  

  Finally, Securities and Exchange Commission Chairman Gary Gensler has said, on Monday, that bitcoin is the only cryptocurrency he is willing to publicly consider as a commodity, rather than a security.The debate over whether any particular cryptocurrency can be labeled a commodity rather than a security has far reaching implications …

  Read More »
• 27 June 2022 10:20 pm

  Could G7 Ban On Russian Imports Impact Gold Price?

  

  G7 members are planning to ban imports of Russian gold in order to tighten the sanctions squeeze on Moscow. However, the precious metal is expected to ignore these news headlines according to TD Securities’ experts and economists.Key Quotes“G-7 ban on new Russian gold imports isn’t expected to impact gold trading …

  Read More »
• 27 June 2022 9:47 pm

  EUR/USD hits two weeks highs

  

  The EUR/USD pair surged further during the US session and climbed to 1.0614, reaching the highest level in two weeks. The euro pulled back under 1.0600. It is holding onto daily gains, still unable to consolidate above 1.0600.Risk sentiment improvement weakened the US dollar. The Dollar Index is falling 0.25% …

  Read More »