Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 20 July 2022 10:00 pm

  Truss, Sunak move a step forward to become UK’s next PM

  

  Following Wednesday’s voting, Penny Mordaunt has been knocked out of the Conservative leadership contest, leaving Rishi Sunak and Liz Truss to face each other in the run-off to replace Boris Johnson.The winner of the final round is expected to be announced on Monday, September 5, following a postal ballot completed …

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• 20 July 2022 9:20 pm

  Eurozone Consumer Confidence Falls to Fresh Low

  

  Consumer confidence in the Eurozone declined in July due to the increasing cost of living and a slowdown of the economy, falling to its lowest level on record.The European Commission said Wednesday that its measure of consumer confidence in the region fell to minus 27.0 in July from a revised …

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• 20 July 2022 8:38 pm

  Is there a near peak after Canada’s inflation rate hits 8.1%?

  

  The Canadian consumer price index (CPI) surged 8.1 per cent in June from a year earlier, up from 7.7 per cent in May, Statistics Canada said on Wednesday. It was the highest inflation rate since 1983. Canada’s inflation soared to its highest rate in nearly forty years in June, although …

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• 20 July 2022 7:44 pm

  US Existing Home Sales fall by 5.4% in June

  

  Existing Home Sales in the United States sharply declined for the fifth straight month in June to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors reported on Wednesday. Sales were down 5.4% and 14.2% on a monthly and yearly basis, respectively. Details of the report …

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• 20 July 2022 7:06 pm

  IMF lowers German growth forecast to 1.2% for 2022, 0.8% for 2023

  

  The International Monetary Fund announced that it lowered its growth forecasts for Germany to 1.2% for 2002 and to 0.8% for 2023. In its previous forecast, the IMF was expecting the German economy to grow by 2% in both years.“Uncertainty is very high, with risks to the baseline growth forecast …

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• 20 July 2022 5:12 pm

  Netflix loses nearly 1 million subscribers

  

  The media world breathed a huge sigh of relief Tuesday, especially in streaming as Netflix’s second-quarter earnings report revealed the company lost 970,000 subscribers. And while that is a big number — the biggest subscriber loss in the company’s 25-year history — it is also a little less than half …

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• 20 July 2022 4:09 pm

  Turkish lira is at its lowest level since December crisis

  

  On Tuesday, the Turkish lira fell as low as 17.579 against the US dollar. The dollar’s strength and concerns about rising domestic inflation and low-interest rates pushed the currency to its weakest levels since a major currency crisis in December. Since the historic crash last year, the central bank has …

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• 20 July 2022 2:38 pm

  European shares rise as fears of energy supply ease

  

  European shares hovered near six-week highs on Wednesday, July 20, as concerns over energy supplies eased after a report that Russian gas supplies would resume on schedule, while markets focused on Italian Prime Minister Mario Draghi’s speech to parliament amid a political crisis. The pan-European Stoxx 600 index rose 0.4% …

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• 20 July 2022 1:47 pm

  US oil inventories rose by 1.9 million barrels

  

  The American Petroleum Institute said that crude oil inventories rose by 1.9 million barrels in the week ending on the fifteenth of July. The weekly report of the American Institute revealed that gasoline stocks rose by 1.3 million barrels last week, while distillate stocks decreased by 2.2 million barrels. The …

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• 20 July 2022 12:37 pm

  Japan’s Nikkei hits 6-week peak

  

  Japanese stocks extended gains on Tuesday, albeit with modest performance, as investors refrained from any big moves ahead of the Bank of Japan’s monetary policy meeting, despite diminishing expectations for a large interest rate cut in the US central bank. The Nikkei index started its trading, up 0.8 percent, to …

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• 20 July 2022 11:57 am

  Gold falls on interest rate hike fears, bond yields rise

  

  Gold fell on Wednesday as fears of monetary policy tightening and an increase in Treasury yields dispelled relief from the dollar’s decline. By 0610 GMT, gold fell in spot transactions 0.3 percent to $1,706.85 an ounce. US gold futures fell 0.3 percent to $1,706 an ounce. The dollar fell for …

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• 20 July 2022 11:14 am

  Putin: Gazprom is ready to fulfill its gas export obligations

  

  Russian President Vladimir Putin said on Tuesday that the Kremlin-controlled energy giant Gazprom was ready to fulfill its commitments on gas exports. Speaking to reporters after his visit to Tehran, Putin also said that Gazprom was not responsible for reducing gas transportation capacity, including the closure of one of the …

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• 20 July 2022 10:33 am

  UK annualized inflation accelerates by 9.4% in June

  

  The UK Consumer Prices Index (CPI) 12-month rate came in at 9.4% in June when compared to 9.1% seen in May while beating estimates of a 9.3% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) eased …

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