Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Organization of the Petroleum Exporting Countries (OPEC) expects global demand for oil to increase next year, but at a slightly slower pace than this year, as consumption will receive support from the improved control of the Covid-19 pandemic and the continued recovery of global economic growth. In its monthly …
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July, 2022
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12 July 2022 2:48 pm
Oil falls after fuel demand outlook affected by new Covid restrictions in China
Oil prices fell on Tuesday, after the imposition of new restrictions to contain Covid-19 in China and fears of a global economic slowdown affected the outlook for fuel demand. The price of benchmark Brent crude in September contracts fell by $1.81, or 1.7 percent, to $105.29 a barrel, and West …
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12 July 2022 2:14 pm
European stocks fall as fears of an economic recession grow
European shares extended losses for the second consecutive session on Tuesday, weighed down by fears of a lack of energy supplies, while a rise in COVID-19 infections in China exacerbated fears of a global economic recession. The decline included most sectors such as healthcare, technology and luxury products. The oil …
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12 July 2022 1:18 pm
Gold settles above the lowest level in 9 months
Gold settled on Tuesday, with lower yields on US Treasuries, which boosted demand and offset the impact of a stronger dollar that pushed gold to a nine-month low earlier. And gold settled in spot transactions at $ 1733.59 an ounce by 0740 GMT, after hitting its lowest level since September …
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12 July 2022 12:13 pm
Japanese stocks fall on recession fears after COVID-19 cases surge
Japanese stocks fell on Tuesday as a surge in domestic COVID-19 infections sparked fears of a recession and led to a morning sell-off. The Nikkei index closed down 1.77 percent at 2,6336.66 points, after losing as much as 1.99 percent earlier in the session. The broader Topix index fell 1.64%. …
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12 July 2022 11:35 am
Senior US Treasury official: Oil may rise 40% if the price of Russian crude is not capped
A senior US Treasury official said on Tuesday that the global price of oil could rise 40 percent to about $140 a barrel if a proposed ceiling for the price of Russian crude is not imposed, along with sanctions waivers that allow shipments below that price. The official said US …
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12 July 2022 10:36 am
Renault sales 2022 fell by 30% after the exit from Russia
French carmaker Renault on Tuesday reported a decline in its car sales in the first half of 2022 after shutting down its activities in Russia, its second-largest market, following the invasion of Ukraine. The group said its worldwide sales fell 29.7 percent compared to last year, to just over one …
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12 July 2022 3:54 am
Market Drivers – US Session – Monday, July 11
The US dollar touched fresh highs against most major rival currencies, as the week started amid risk-off mode. The EUR/USD pair trades in the 1.0040 price zone, its lowest since December 2002. The shared currency is under additional pressure amid an energy crisis. As expected, Russia closed the Nord Stream …
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12 July 2022 2:34 am
Gold trades around key support at $1,730
Gold price is struggling to find a way out by surrendering the critical support of $1,730.00 as the US Dollar Index, on Monday, prints a fresh 19-year high at 108.27 on expectations for higher US Inflation.Gold is also displaying subdued performance and the volatility prior to the release of the …
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12 July 2022 1:20 am
Bitcoin Leads Crypto Slide, Extending Weekend Losses
Bitcoin retreated below $21,000 on Monday after climbing to $22,000 last Friday. The cryptocurrency dropped 2.2% to $20,489, while Ether dipped 3.1% to $1,140 as of 4:00 pm ET Monday. Major cryptoassets’ slide came after the Bloomberg MLIV Pulse survey indicated that 60% of respondents thought bitcoin would head lower …
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12 July 2022 12:17 am
AUD/USD wavers above 0.6730 ahead of US Inflation
The AUD/USD pair has turned sideways after a sheer downside move to Monday’s low at 0.6715 on a risk-off impulse on the market. The asset is hovering around its fresh monthly low as the US dollar index (DXY) has printed a fresh 19-year high at 108.27.The AUD/USD pair is hovering …
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11 July 2022 11:43 pm
USD/CAD climbs on negative sentiment, stronger US dollar
The USD/CAD buyers regain control and lift the pair above 1.3000, eyeing the 1.30776 level. Lower risk appetite is impacting investors’ calculations ahead of the US CPI to keep the USD/CAD upward pressured.The Bank of Canada (BoC) is expected to hike rates by 75 bps, as shown by STIRs futures. …
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11 July 2022 10:51 pm
US Equities retreat as earning season looms
The three major US equity indices drop between 0.29% and almost 2%. Risk-aversion dominates Monday’s trading session. China’s covid-linked fears, in addition to hot inflation drag corporate profits lower as the earnings session approaches. US equities broke five days of consecutive gains, trading lower on Monday, courtesy of risk aversion …
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