Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 14 June 2022 5:40 pm

  OPEC sticks to its expectations that demand for oil will exceed pre-pandemic levels this year

  

  OPEC maintained its forecast that global oil demand will exceed pre-coronavirus levels in 2022, but said that the Russian invasion of Ukraine and pandemic developments pose a significant risk. In a monthly report released on Tuesday, the Organization of the Petroleum Exporting Countries stuck to its forecast that global oil …

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• 14 June 2022 4:35 pm

  Reuters: OPEC expects global oil demand growth to slow in 2023

  

  Global oil demand growth will slow in 2023 as higher crude and fuel prices push up inflation and slow the global economy, delegates from OPEC and industry sources said. Fuel use has rebounded after falling due to the coronavirus pandemic in 2020 and is on track to surpass 2019 levels …

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• 14 June 2022 3:20 pm

  Reuters poll: SNB to hold fire this week, a 25 bps September rate hike likely

  

  A majority of the economists polled by Reuters revealed on Tuesday, the Swiss National Bank (SNB) is unlikely to change its negative interest rate policy this Thursday even as the country’s inflation rate remains at a 14-year high. “Twenty-four of 26 economists expect the SNB to keep its policy rate …

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• 14 June 2022 2:13 pm

  Russia becomes India’s second-largest oil supplier

  

  Data from trade sources showed that Russia became India’s second-largest supplier of oil in May, pushing Saudi Arabia to third place, with Iraq remaining its largest supplier. The data indicated that Indian refineries received in May about 819,000 barrels per day of Russian oil, the highest level so far from …

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• 14 June 2022 1:23 pm

  Oil prices rise as supply shortage worsens

  

  Oil prices rose by about $1 in volatile trade on Tuesday, June 14, as the impact of global supply shortages outweighed fears that fuel demand would be hit by a recession and new restrictions imposed to contain the spread of Covid-19 in China. The price of US West Texas Intermediate …

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• 14 June 2022 1:11 pm

  Nikkei falls for a third day amid fears of US inflation and Covid-19 in China

  

  Japan’s Nikkei fell on Tuesday for the third consecutive day amid concerns about growth linked to the tightening of US monetary policy and the imposition of strict restrictions to combat the spread of COVID-19 in China. The Nikkei closed down 1.32 percent at 26,629.86 points, after falling 2.19 percent earlier …

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• 14 June 2022 12:26 pm

  European shares stabilize after selling due to inflation fears

  

  European shares rose about one percent on Tuesday, as investors bought shares that fell sharply after the intense selling in the previous session caused by fears of a large US interest rate hike and a possible economic recession. The pan-European Stoxx 600 index was up 0.9 percent by 0705 GMT, …

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• 14 June 2022 11:20 am

  German Inflation Hits Five-Decade High

  

  Germany’s inflation rate, measured by the annual change in the consumer price index, rose 7.9% in May 2022, bringing the inflation rate to an all-time high for the third consecutive month since German reunification. The main reason for higher inflation is still higher energy prices, but George Thiel, head of …

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• 14 June 2022 10:38 am

  Gold hovers near 4-week low before Fed meeting

  

  Gold prices rose on Tuesday from a four-week low, as a halt in the dollar’s rally and US Treasury yields provided some support, but gains were limited by increasing bets that the Federal Reserve will tighten monetary policy significantly. And the price of gold in spot transactions rose 0.3 percent …

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• 14 June 2022 4:15 am

  Market Drivers – US Session – Monday, June 13

  

  Financial markets started the week in risk-off mode and negative sentiment prevailed after the US had reported soaring inflation in May to a multi-decade high. Market participants are looking for a potential 75 bps rate hike as the US Federal Reserve meets this week.Economic Data: The economic calendar remained empty, …

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• 14 June 2022 3:18 am

  UK business confidence retreats on inflation

  

  Business confidence fell to its lowest level in more than year last month amid growing fears that inflation poses a long-term threat to company sales.Confidence among companies is now at levels last seen in April 2021, when coronavirus restrictions were beginning to relax. It is worth noting that the sentiment …

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• 14 June 2022 1:16 am

  By virtue of sanctions, Russia’s ruble stronger than before war

  

  In the days after Russia invaded Ukraine in February 2022 and the west imposed sanctions, Russia’s ruble collapsed. The number of rubles to one US dollar quickly fell from about 78 to 138, a huge move in the world of forex, and terrifying for those with their wealth in the …

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• 14 June 2022 12:22 am

  EUR/USD Eyes Fed’s Policy Decision

  

  The EUR/USD bears stay the course and continue to eye a test of 1.04 the figure. The US dollar has climbed to score fresh bull cycle highs ahead of the Fed. At 1.0448, the Euro is still trailing to the US dollar by some 0.65% despite the recent bid in …

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