Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 7 June 2022 9:35 pm

  GBP/USD touch fresh high amid UK political confusion

  

  The GBP/USD pair has managed to remain positive on the week, up by 0.82%. The UK Prime Minister Boris Johnson won a no-confidence vote, and the GBP positively reacted to this piece of political news.The sterling climbs for the second straight day amid two days of a volatile trading session …

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• 7 June 2022 8:51 pm

  Stubborn Inflation Drags Sec. Yellen To Spotlight

  

  The US Treasury secretary’s latest remarks about surging prices put the Biden administration in a defensive stance. At her previous hearing in 2021, Treasury Sec. Janet Yellen told the congress that it was time to “act big” on a pandemic relief package, in her attempt to downplay the then prevalent …

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• 7 June 2022 8:03 pm

  USD/CAD slides below 1.2565

  

  The US dollar turns negative amid improved risk sentiment, its Canadian counterpart is the top performer among commodity-linked currencies. The USD/CAD pair is heading for the lowest close since April 20.The USD/CAD is falling on Tuesday and recently hit a fresh daily low at 1.2539. A weaker US dollar pushed …

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• 7 June 2022 7:19 pm

  WTI Crude Rebounds From $118 to near $120

  

  The American WTI crude oil has rebounded from session lows under $118 to closer to $120 despite a risk-off Wall Street open. Several topics are cited as supporting oil prices and encouraging dip-buying. Oil prices have rebounded in recent trade despite a relatively risk-off open on Wall Street after major …

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• 7 June 2022 5:26 pm

  Oil is stable as the market balances risk appetite and tight supplies

  

  Oil prices stabilized on Tuesday as the market weighed risk appetite, concerns over supply, and the prospect of increased demand as China eases its restrictions on the spread of the coronavirus. Brent crude futures were down 44 cents, or 0.3 percent, at $119.07 a barrel by 1209 GMT. US West …

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• 7 June 2022 4:53 pm

  US: Goods and Services Trade deficit shrinks to $87.1B in April

  

  According to the latest data from the Bureau of Economic Analysis and US Census Bureau, the US Goods and Services Trade deficit shrunk to $87.1B in April. That was a little smaller than the expected decrease to $89.5B from $109.80B in March. The Goods trade deficit was $107.74B in April …

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• 7 June 2022 4:12 pm

  Gold rises with growing economic concerns

  

  Gold prices rose on Tuesday as investors feared the repercussions of central banks’ plans to tighten monetary policy, but rising US bond yields, which supported the dollar, limited the gains. The price of gold increased 0.2 percent in spot trading, recording $1845.20 an ounce by 0842 GMT, recovering after touching …

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• 7 June 2022 2:30 pm

  The dollar is at its highest level in 20 years against the yen

  

  The dollar rose to its highest level in two weeks, supported by rising US bond yields, which pushed the Japanese yen to its lowest level in more than 20 years against the dollar. The yen fell to 133 yen against the dollar, a level previously highlighted as a trigger for …

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• 7 June 2022 1:58 pm

  Ukrainian agricultural exports rise 80% in May

  

  Ukraine’s agriculture ministry said on Tuesday that exports of cereals, oilseeds and vegetable oils rose 80 percent in May year-on-year to 1.743 million tonnes, but the quantities were still much lower than exports in the same month of 2021. The ministry added that corn dominated exports with 959,000 tons, while …

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• 7 June 2022 1:29 pm

  Gold stabilizes as central banks prepare to hike rates

  

  Gold prices settled near one-week lows on Tuesday as investors expected central banks’ plans to tighten monetary policy to keep interest rates high for an extended period, which in turn would raise US bond yields and the dollar. The price of gold did not witness little change in spot trading, …

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• 7 June 2022 12:58 pm

  Japan’s Nikkei index closes flat

  

  Japan’s Nikkei gave up most of its gains to close flat on Tuesday, as worries about inflation and higher interest rates in the United States outweighed the rise of automakers and energy-related stocks. The index rose 0.1 percent to 27,943.95 points, after exceeding 28,000 points for the first time since …

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• 7 June 2022 12:45 pm

  The Turkish lira continues to decline

  

  The Turkish lira fell 0.4 percent against the dollar on Tuesday, amid fears of rising inflation due to President Recep Tayyip Erdogan’s pledge to keep cutting interest rates. In a speech on Monday evening, Erdogan sought to downplay the rise in annual consumer prices to 73 percent last month as …

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• 7 June 2022 5:06 am

  Market Drivers – US Session – Monday 6 June 2022

  

  The market sentiment dramatically changed from optimism during Asian trading session into pessimism during the US session. The early positive mood was on the back of hopes that the global economic situation would start improving after Beijing continued easing coronavirus-linked restrictions.The sentiment deteriorated after the bell on Wall Street, as …

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