Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 21 July 2022 5:03 pm

  Weekly Initial Jobless Claims rise to 251K

  

  There were 251,000 initial jobless claims in the week ending July 16, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 244,000 and came in worse than the market expectation of 240,000. Further details of the publication …

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• 21 July 2022 5:01 pm

  ECB hikes key rates by 50 basis points

  

  The European Central Bank (ECB) announced on Thursday that it raised its key rates by 50 basis points (bps) following the July policy meeting. Markets were expecting the bank to hike its rates by 25 bps. With this decision, the interest rate on the main refinancing operations and the interest …

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• 21 July 2022 4:28 pm

  CBRT keeps interest rates unchanged for the seventh time in a row

  

  Turkey’s central bank kept interest rates unchanged for the seventh time in a row, despite Turkey’s inflation and its currency falling against the dollar to its lowest level since December. The Turkish Central Bank fixed the interest rate on the Turkish lira during the “repo” week of July at 14%, …

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• 21 July 2022 3:24 pm

  Ukraine devalues its currency by 25% against USD

  

  Ukraine’s central bank has devalued the country’s hryvnia currency by 25% against the US dollar to help the country deal with the growing economic impact of the war with Russia. The Central Bank of Ukraine said in a statement that it set the new hryvnia rate at 36.5686 to the …

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• 21 July 2022 1:41 pm

  Oil continues its losses and the impact of demand concerns outweighs the lack of supplies

  

  Oil prices fell for the second consecutive session Thursday, July 21, as demand concerns outweighed concerns about tight global supplies after US government data revealed weak gasoline consumption in the peak summer travel season. Brent crude futures fell 33 cents, or 0.3%, to $106.59 a barrel, after falling 0.4% in …

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• 21 July 2022 1:23 pm

  Italian stocks lead a decline in Europe as the political crisis worsens

  

  Italy’s stock index fell nearly 2% on Thursday as the government collapsed, putting pressure on broader European shares, despite some relief from the resumption of Russian gas imports. The Italian presidency said in a statement that Prime Minister Mario Draghi submitted his resignation on Thursday to President Sergio Mattarella, who …

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• 21 July 2022 12:43 pm

  Inflation in Canada jumps to 8.1%, hitting a 39-year high

  

  Statistics Canada said the annual inflation rate in Canada accelerated to 8.1% in June, the highest level since January 1983, mainly due to higher gasoline prices. The Federal Agency said that fuel price was the largest contributor to the increase in the overall rate, as the price of motor gasoline …

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• 21 July 2022 11:14 am

  Bank of Japan keeps interest rates unchanged

  

  The Bank of Japan raised its inflation forecast but kept interest rates unchanged at -0.1% and warned of risks to the economy, cementing its position as an outsider in the global central bank’s tightening wave. The decision came hours before the European Central Bank, which will consider a larger-than-expected 50 …

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• 21 July 2022 10:38 am

  Gold nears one-year low as interest rate hike looms

  

  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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• 21 July 2022 4:04 am

  Market Drivers – US Session – Wednesday, July 20

  

  Wednesday has been quite a busy and worrisome trading day. Most currencies have not reflected this as investors are preoccupied by ECB’s monetary policy decision eying it with caution. The US stock market continued its recent rally on Wednesday’s trading session, with technology stocks jumping. For the entire market, earnings …

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• 21 July 2022 3:13 am

  EUR/USD attempts to recapture 1.0200

  

  The EUR/USD pair’s price has recovery signs and is likely to recapture 1.0200 on ECB’s rate hike expectations. The US Dollar Index made a confident pullback after sensing lower selling pressure around 106.40.Political developments in Italy and renewed uncertainty over energy supplies, including from Nord Stream1, have impacted the overall …

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• 21 July 2022 2:34 am

  Tesla revenues grow by 42%

  

  Tesla, on Wednesday after the bell, reported its first sequential decline in quarterly profit in more than a year as it recovers from an extended shutdown at its Shanghai plant. Tesla reported adjusted earnings of $2.27 per share on $16.93 billion in revenue in Q2 2022.Automotive revenues made up $14.6 …

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• 21 July 2022 2:07 am

  ECB encounters moment of truth on rate policy

  

  Finally, the European Central Bank is making a move in response to rising inflation by widely eyed decision on the first rate hike in more than ten years, but will suffice to turn the tide on the EUR/USD pair as the Euro is poised to revisit levels back below parity …

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