Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 27 June 2022 9:32 pm

  WTI jumps on the back of OPEC+ surplus news

  

  The US crude oil extends its gains to two consecutive days, though it faces solid resistance at the 50-EMA, around $110.33.Western Texas Intermediate records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ has cut …

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• 27 June 2022 8:00 pm

  OPEC+ lowers 2022 market surplus forecast

  

  Producer group OPEC+ trimmed its projected 2022 oil market surplus to 1 million barrels per day, down from 1.4 million bpd previously, a report said on Monday. The said report was prepared for the group’s upcoming meeting of the OPEC+ Joint Technical Committee scheduled to take place on Tuesday.As for …

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• 27 June 2022 7:36 pm

  Dallas Fed Manufacturing Index fell below expectations

  

  The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey plunged to -17.7 in June from -7.3 in May.The latest data missed the market expectation of -3.1 by a wide margin. The New Orders sub-index dropped to 3.3 from 19.8, the Prices Paid for …

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• 27 June 2022 7:22 pm

  US Pending Home Sales surge in May above Expectations

  

  The data published, on monthly basis, by the National Association of Realtors showed on Monday that Pending Home Sales rose by 0.7% in May following April’s decline of 4%. This data came in better than the market expectation for a contraction of 3.7%. Despite this monthly increase, Pending Home Sales …

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• 27 June 2022 3:22 pm

  G7 still working on precise mechanism to implement price cap on Russian oil

  

  With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. According to Reuters. “To issue coordinated steps tomorrow to raise pressure on Russia.”“Targeting services for transporting Russian oil is a ‘promising avenue’.”“US will impose higher …

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• 27 June 2022 2:50 pm

  Kremlin spokesman: Russia rejects accusations of defaulting on its foreign debts

  

  A Russian Kremlin spokesman has rejected accusations that Russia has defaulted on its foreign debt for the first time in more than a century. In a call with reporters, Kremlin spokesman Dmitry Peskov said that Russia had made bond payments due in May but had been blocked by Euroclear due …

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• 27 June 2022 2:22 pm

  Russia on the brink of historic debt default as payment period expires

  

  Some Russian bondholders told Reuters they were not getting the $100 million interest they were supposed to receive after the day. For many bondholders, failure to pay on time amounts to a debt default. The Kremlin has repeatedly emphasized the idea that Russia will not default, but that sanctions against …

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• 27 June 2022 2:10 pm

  The dollar rises in Asian trading as investors search for a safe haven

  

  The dollar and the yen rose in a volatile session in Asia on Monday, as they benefited from a search for safe haven amid investor concerns that higher interest rates and weak economic data could mean a global recession is on the horizon. While stocks tracked Wall Street higher, currency …

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• 27 June 2022 12:55 pm

  European stocks rise to two-week highs as commodity prices rise

  

  European shares jumped on Monday to their highest level in two weeks, supported by mining and oil stocks, as the easing of measures to curb the outbreak of Covid-19 in China led to an increase in commodity prices. The pan-European Stoxx 600 index rose 0.7 percent by 0716 GMT, reversing …

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• 27 June 2022 12:17 pm

  Nikkei rises for the third consecutive session, supported by technology stocks

  

  The Japanese Nikkei index rose for the third consecutive session on Monday, boosted by technology heavyweights, after Wall Street rose at the end of last week. The Nikkei closed up 1.43 percent at 2,6871.27 points, after rising as much as 1.7 percent. The broader Topix index jumped 1.12 percent to …

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• 27 June 2022 11:42 am

  The Turkish lira rises 6% against the dollar after restrictions on lending

  

  The Turkish lira jumped 6 percent against the dollar on Monday after Turkey moved to limit lira lending to many companies with more than $1 million in foreign currency cash, the latest move to stem the currency’s slide. The lira jumped to 16.099 against the dollar, after closing on Friday …

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• 27 June 2022 11:05 am

  Oil continues to rise ahead of G7 talks on Russian exports

  

  Oil prices extended gains on Monday as investors awaited any moves against Russian oil and gas exports that might be taken during the Group of Seven leaders meeting in Germany. There is a looming prospect of tighter market supplies as Western governments seek ways to reduce Russia’s ability to finance …

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• 27 June 2022 10:39 am

  Gold rises as G7 intends to ban the import of the metal from Russia

  

  Gold prices rose on Monday as news that some Western countries are planning to formally ban imports of the metal from Russia due to its invasion of Ukraine sparked some interest in gold. And gold rose in spot transactions 0.5 percent to $ 1835.58 an ounce. US gold futures rose …

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