Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 25 June 2022 1:17 am

  Western Allies Face Frustration Over Russia Sanctions

  

  The Western countries aligned against Russia face growing economic pain as sanctions and embargoes show little impact and no change on the Russian stance. US officials vowed that Russia’s financial system would be battered if it attacked Ukraine, and President Biden boasted in March that sanctions were “crushing the Russian …

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• 25 June 2022 12:23 am

  USD/CHF remains negative for whole week

  

  The positive market sentiment discouraged USD/CHF sellers from confirming the double top chart pattern.The USD/CHF pair has fallen for the fifth successive day, though bounced off weekly lows reached during the day near 0.9521, towards the 0.9580s region. The pair is still shy of reclaiming the 0.9600 figure. At 0.9589, …

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• 24 June 2022 11:07 pm

  Fed’s Daly supports another big interest rate hike

  

  “We want to bring inflation down without crippling growth and stalling the labor market”, San Francisco Federal Reserve President Mary Daly, said on Friday. Daly is the latest US central bank monetary policymaker to signal that she is supporting another big increase in interest rates in July in an effort …

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• 24 June 2022 10:12 pm

  Gold Advances to $1826 from weekly lows

  

  Gold continues for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year T-yields and the weaker US dollar account for the latest advance. So far, the Gold Index bounces off weekly lows near $1816, recovering some ground in the week, reclaiming above the $1825 …

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• 24 June 2022 9:31 pm

  AUD/USD touches two-day highs on weaker US dollar

  

  The AUD/USD broke above 0.6920 and jumped to 0.6957 on Friday, reaching the highest level in two days. Stocks are sharply surging and this helps the Australian dollar.Despite recession fears, investors flocked to stocks. US stocks indexes are up by more than 2%, extending weekly gains. Negative economic data did …

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• 24 June 2022 9:02 pm

  US shares benefit from positive sentiment

  

  US shares are surging for the second successive day despite being during the US trading session. The major indices prepare to post solid gains in the week, within 4% to 6% range.The S&P 500 reclaimed the 3,800 mark; around 3,887.19 and is up by 2.74% in the day, while the …

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• 24 June 2022 8:30 pm

  USD/CAD Dragged Downwards On Better Sentiment

  

  The USD/CAD pair is dragged downwards during the American session as US stocks surge and crude oil price jumps. The pair dropped to 1.2899, hitting the lowest level in a week.The mixture of improved risk appetite, higher crude oil prices and a softer dollar do drag the pair downwards on …

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• 24 June 2022 8:04 pm

  UOM Consumer Sentiment Touches Record Low

  

  The University of Michigan’s Consumer Sentiment Index declined to 50 in June’s final reading from 50.2 in the flash estimate. This marked the lowest print on record.Further details of the survey revealed that the Current Conditions Index dropped to 53.8 in June from 63.3 in May and the Consumer Expectations …

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• 24 June 2022 7:13 pm

  What New Home Sales Tell About US Economy

  

  New Home Sales in the US rebounded sharply in May. The data published by the US Census Bureau showed on Friday that New Home Sales in the US rose by 10.7% in May to a seasonally-adjusted rate of 696,000 following April’s shrinkage of 12% (revised from -16.6%). “The median sales …

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• 24 June 2022 3:59 pm

  Oil rises more than a dollar but is heading to decline for the second week

  

  Oil prices rose by more than $1 a barrel on Friday, boosted by tight supply, although crude is heading lower for a second week amid concerns that higher interest rates could push the global economy into recession. On Thursday, Federal Reserve Chairman Jerome Powell said the Fed’s focus on curbing …

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• 24 June 2022 2:41 pm

  UK Retail Sales drop 0.5% MoM in May

  

  The UK retail sales arrived at -0.5% over the month in May vs. -0.7% expected and 1.4% previous. The core retail sales, stripping the auto motor fuel sales, stood at -0.7% MoM vs. -1.0% expected and 1.4% previous. On an annualized basis, the UK retail sales plunged 4.7% in May …

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• 24 June 2022 1:31 pm

  German IFO Business Climate Index drops to 92.3 in June

  

  The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month’s 93.0 and the consensus estimates of 92.9. Meanwhile, the Current Economic Assessment eased to 99.3 points in the reported month as compared to May’s 99.5 and 99.1 anticipated. The IFO Expectations Index – indicating firms’ projections …

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• 24 June 2022 1:28 pm

  Dollar stumbles on interest rate fears

  

  The US dollar fell against major currencies on Friday, on track for its first weekly loss this month, as investors continue to assess Federal Reserve policy and whether large interest rate increases will lead to a recession. The safe-haven US currency also lost support amid improving market sentiment, rising regional …

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