Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 13 June 2022 12:15 pm

  Nikkei records biggest decline in 4 months due to inflation fears

  

  Japan’s Nikkei index posted its biggest decline in more than four months on Monday, ending the session at a two-week low after a bigger-than-expected rise in US inflation in May sent Wall Street sharply lower at the weekend. The Nikkei index fell 3.01 percent to close at 26,987.44 points, the …

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• 13 June 2022 7:11 am

  Financial Markets’ Weekly Recap, 6 – 10 June

  

  The dollar rose to a nearly four-week high against a basket of currencies on Friday, after data showed US consumer prices accelerated in May, suggesting the Federal Reserve may have to keep raising interest rates until September to combat inflation. In the 12 months to May, the US consumer price …

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• 11 June 2022 5:22 am

  Market Drivers – US Session – Friday. June 10

  

  The US Dollar Index, a measure of the dollar’s value, is advancing 0.84%, sitting at 104.177, while the US 10-year benchmark note rises 21 basis points and is up at 3.154%.As investors expect an aggressive US Fed, USD/CHF rallies 0.80% post US hot inflation. Elevated US Treasury yields lifted the …

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• 11 June 2022 3:06 am

  What Wall Street is saying about May’s US shocking inflation report

  

  The Consumer Price Index published on Friday by the Bureau of Labor Statistics hiked by 8.6% from a year ago, up from April’s reading of 8.3% and higher than economists had projected.Federal Reserve policymakers tasked with bringing prices back down could likely to take clues from May’s CPI report on …

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• 11 June 2022 1:39 am

  Gold Reacts To CPI Data, Soaring To $1874

  

  gold prices are soaring on Friday despite higher US yields and a stronger dollar. The Gold Index XAU/USD rebounded again at the $1830 but this time it broke $1850 and a few minutes later reach $1870, and even $1874 at the time of writing.Following the US May CPI report, XAU/USD …

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• 11 June 2022 12:59 am

  GBP/JPY Watches BoJ’s intervention threats

  

  Financial Japanese authorities had a meeting to address the weaker JPY and have agreed to act if the yen continues weakening. Despite falling on threats of an intervention by Japan, the GBP/JPY pair managed to gain 1.30% within a week.The GBP/JPY pair fell on Friday and trimmed weekly gains of …

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• 10 June 2022 11:45 pm

  Tesla announces 3-for-1 stock split, Ellison to leave board

  

  Tesla announced in its annual proxy statement released late Friday it will seek shareholder approval to split its stock 3-for-1.Tesla said the proposed stock split, “would help reset the market price of our common stock so that our employees will have mor flexibility in managing their equity, all of which, …

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• 10 June 2022 10:06 pm

  American Express launches US crypto rewards credit card with Abra

  

  Credit card companies are sweetening the bonuses they offer their customers, and American Express is doing just that through a new partnership with crypto wealth management platform and wallet provider Abra. The two companies announced the launch of the Abra Crypto Card on the Amex network today at Coindesk’s Consensus …

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• 10 June 2022 9:15 pm

  BoE meeting poses some upside risk for the pound

  

  Next week, the Bank of England will have its monetary policy meeting. Analysts at MUFG Bank consider the meeting will pose some upside risk for the pound but they warn any rally should be short-lived in light of the still unfavourable UK cyclical backdrop. Key Quotes: “The weak outlook for …

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• 10 June 2022 8:30 pm

  US Equities Crushed On CPI Inflation Data

  

  US stocks sharply dropped on Friday after new data showed that inflation accelerated in May. The S&P 500 was recently down 2.4%. The Dow Jones Industrial Average declined 675 points, or 2.1%, while the Nasdaq Composite dropped about 3%. US stock benchmarks posted their biggest declines in more than three …

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• 10 June 2022 7:49 pm

  Employment data adds pressure on the BoC

  

  Economic data released on Friday showed the jobs in Canada rose by 39,800 in May, surpassing expectations. Analysts at CIBC, consider that recent economic data means that the Bank of Canada could raise its interest rates a little higher. Key Quotes: “A further solid rise in employment, decline in the …

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• 10 June 2022 7:05 pm

  UoM Consumer Sentiment Index slumps below expectations

  

  The University of Michigan’s headline Consumer Sentiment Index slumped to 50.2 in June, its worst level since records began back in the 1970s, according to the preliminary release of the university’s widely followed monthly consumer survey. That was a large miss on the expected slight decline to 58.0 from 58.4 …

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• 10 June 2022 5:18 pm

  Oil prices are on their way to record a weekly rise

  

  Oil prices rose on Friday and were on track to record new weekly gains, supported by strong demand for fuel in the United States, although new measures to combat Covid-19 in Shanghai and Beijing limited the gains. Brent crude rose 98 cents, or 0.8 percent, to $124.05 a barrel by …

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