Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 30 June 2022 8:14 pm

  Gold under pressure near $1800

  

  On an obviously volatile session, gold reaffirms bearish bias. Gold falls sharply even as US yields move lower.The Gold Index is testing $1805, below attention would turn to the YTD low at $1785. Gold is back below 1810$, under pressure and looking vulnerable to the downside. The price hit earlier …

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• 30 June 2022 7:48 pm

  Labour Shortages Cost Canadian Businesses A Lot

  

  The lack of skilled workers costs Canada’s economy tens of billions of dollars every year. The current labour shortage has very negative impact on most Canadian companies. A recent survey by the Business Council of Canada indicates that more than 66% of companies have had to adjust timelines for projects …

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• 30 June 2022 7:02 pm

  Oil Falls On OPEC+ Output Hike Decision

  

  Following its meeting on Thursday, OPEC+ announced on Thursday that it will stick to its plan of increasing oil output by 648,000 barrels per day (bpd) in August, as reported by Reuters. The group refrained from discussing the output strategy from September. Meanwhile, Russian Deputy Prime Minister Alexander Novak said …

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• 30 June 2022 5:43 pm

  Weekly Initial Jobless Claims decline to 231K

  

  There were 231,000 initial jobless claims in the week ending June 25, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 233,000 (revised from 229,000) and came in slightly higher than the market expectation of 228,000.

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• 30 June 2022 5:22 pm

  Novak says setting a ceiling for the price of Russian oil will push prices higher

  

  Russian Deputy Prime Minister Alexander Novak said on Thursday that attempts to put a ceiling on the price of Russian oil could lead to an “imbalance” in the market and push prices higher, the Russian Interfax news agency quoted Russian Deputy Prime Minister Alexander Novak as saying on Thursday. His …

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• 30 June 2022 4:40 pm

  US annual Core PCE inflation falls to 4.7% in May as expected

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 6.3% on a yearly basis in May, the US Bureau of Economic Analysis announced on Thursday. The Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, declined to 4.7% in the …

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• 30 June 2022 3:55 pm

  Gold is on its way to record the worst quarter since the beginning of 2021

  

  Gold settled for most of the time Thursday, June 30, but faces its worst quarter since early 2021 as the dollar’s impressive performance deterred investors. spot gold prices settled at $1817.01 an ounce, and US gold futures prices changed little to $1816.90 an ounce. It is expected that gold prices …

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• 30 June 2022 2:34 pm

  Euro remained near its lowest level since 2015

  

  The Swedish Krona rose against the Euro on Thursday after Sweden’s Central Bank raised its key interest rate by 50 basis points, as expected. On the other hand, the price of the euro stabilized against the major currencies and remained near its lowest level since 2015 against the Swiss franc …

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• 30 June 2022 1:55 pm

  Turkey’s foreign trade deficit rises 155% in May

  

  Data from the Turkish Statistical Institute showed on Thursday that the foreign trade deficit rose 155.2 percent year-on-year to $10.61 billion in May, with imports increasing by 43.5 percent. The data showed that imports amounted to $29.59 billion, while exports rose 15.3 percent to $18.98 billion. Under an economic program …

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• 30 June 2022 1:14 pm

  Japanese stocks fall 1.5% as economic slowdown fears grow after production data

  

  Japanese shares fell more than 1.5 percent on Thursday after data showed that monthly industrial production posted its biggest drop in two years and the yen fell to a 24-year low overnight, stoking fears of an economic slowdown. The Japanese Nikkei index fell at a steady pace throughout the day …

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• 30 June 2022 12:34 pm

  European stocks face their worst quarter since the pandemic plunge in early 2020

  

  European shares fell on Thursday, on track to record their worst quarter since the massive plunge during the COVID-19 pandemic in early 2020, as investors grew increasingly concerned about a global recession following tough central bank measures to tame soaring inflation. The pan-European STOXX 600 index fell 1.4 percent by …

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• 30 June 2022 3:26 am

  Bitcoin Dips Below $20000

  

  Bitcoin’s price entered a consolidation phase on Wednesday while its downtrend seems to have stopped after a severe shakeout to $17K. This range is likely to provide significant support, as it contains the 2017 all-time high, and it might spark a short-term rally towards the $30K region.Bitcoin price has fallen …

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• 30 June 2022 2:40 am

  Market Drivers – US Session – Wednesday, June 29

  

  The financial markets was driven by comments by key central bankers who spoke before the ECB Forum in Portugal. Fed Chair, Jerome Powell explained that there is a risk the US central bank’s interest rate hikes will slow the economy too much. Powell added that the bigger risk, however, is …

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