Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 8 June 2022 3:10 am

  Market Drivers – US Session – Tuesday 7 June

  

  Risk aversion has been the one big title for financial markets during the North American trading session. The US dollar slid against major rivals in the last trading session of the day. Lower Treasury yields hindered demand for the dollar because the 10-y note yields 2.97%, after peaking earlier in …

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• 8 June 2022 2:51 am

  Gold stabilizes above $1,850 on weaker USD

  

  Gold price has exhibited a minor correction after recording a high around $1,856.00 on Tuesday, but strongly stabilized above the crucial resistance of $1,850.00 as the US dollar index slipped sharply. The precious metal has been advancing higher gradually after hitting a low of $1,837.06 and is expected to extend …

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• 8 June 2022 2:44 am

  Major Ukrainian Commodity Terminal Destroyed In Russian attack

  

  Russian bombs destroyed the warehouses of one of the largest terminals for agricultural commodities at Mykolaiv port, authorities said on Tuesday.The attack coincided with Turkey’s attempt to develop a plan, supported by the United Nations, to start grain exports from Ukraine’s ports, and ahead of meetings on Wednesday by the …

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• 8 June 2022 1:49 am

  New US Draft Law classifies digital assets as commodities

  

  A widely anticipated crypto regulation was unveiled on Tuesday. The draft law provides some long awaited clarity for crypto markets and provided definitions for most digital assets as commodities, giving most of the oversight to the Commodity Futures Trading Commission.Known as the Responsible Financial Innovation Act, the draft law was …

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• 8 June 2022 1:14 am

  EUR/USD climbs to 1.0700 of the ECB policy decision

  

  EUR/USD climbs to 1.0700 of the ECB policy decision The EUR/USD has pared some of Monday’s losses and is now testing the 50-day moving average to the upside on Tuesday during the North American session. At 1.0709, the EUR/USD pair exchanges hands on top of the previously-mentioned DMA at the …

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• 8 June 2022 12:03 am

  AUD/JPY running into monthly resistance

  

  The AUD/JPY pair is running into monthly resistance but prior highs near 102.80 will be eyed if the bulls stay within the current course. The yen is suffering a central bank deviation blow and a potential course shift. While investors worry over decades-high inflation, the Bank of Japan has decided …

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• 7 June 2022 11:14 pm

  Gold Trapped Below Critical Resistance

  

  At $1,850.06, the gold price is 0.45% higher and trading between a low of $1,837.06 and a high of $1,853.63 on the day so far. The markets are fairly volatile as traders weigh the indecisive outlook for global growth, the latest of which comes from the World Bank.”Global economic growth …

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• 7 June 2022 10:40 pm

  Sec. Yellen to senators: US faces “unacceptable levels of inflation”

  

  The United States faces “unacceptable levels of inflation” and an appropriate budgetary stance is needed to help dampen inflationary pressures without undermining the economy, Treasury Sec. Janet Yellen told senators on Tuesday.At a Senate Finance Committee hearing, Yellen pushed back against Republican assertions that the highest inflation in 40 years …

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• 7 June 2022 10:01 pm

  Wall Street slides as inflation data eyed

  

  US stock indexes slipped in mixed trading on Tuesday as investors digested Target Corp’s gloomy margin forecast that spooked the retail sector, while awaiting inflation data due later this week.Target’s shares slid 4.3% as the big-box retailer said it would have to offer deeper discounts and cut back on stocking …

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• 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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