Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 6 June 2022 8:14 pm

  USD/CAD Risks Impact of robust growth, aggressive tightening

  

  Analysts at Wells Fargo expect a more extended series of 50 basis points interest rate increases from the Bank of Canada in July, September and October meetings. They see risks tilted towards a stronger Canadian dollar than their existing USD/CAD exchange rate target of 1.2500.Key Quotes: “The solid growth and …

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• 6 June 2022 7:28 pm

  WTI hits fresh highs near $121

  

  WTI hit fresh three-month highs near $121 earlier in the session, but has since pulled back to the $118s. Oil prices were initially boosted on Monday amid a Saudi hike, China lockdown easing and following last week’s OPEC+ meeting.Having at one point come within a whisker of hitting the $121 …

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• 6 June 2022 5:54 pm

  Wall Street opens higher as Chinese stocks rise

  

  Wall Street’s main indexes opened higher on Monday after falling last week, with US-listed Chinese technology stocks rising, boosted by optimism about easing regulatory measures and restrictions imposed to combat COVID-19 in the world’s second-largest economy. The Dow Jones Industrial Average rose 132.34 points, or 0.40 percent, to 33,032.04 points. …

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• 6 June 2022 3:23 pm

  Euro rises as risk appetite increases

  

  The euro rose on Monday as risk appetite increased as investors awaited the European Central Bank’s Monetary Policy Committee meeting later this week. The single European currency rose 0.2 percent against the dollar to $ 1.074. The euro recently rose against the dollar after increasing government bond yields amid expectations …

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• 6 June 2022 2:05 pm

  Gold is consolidating near high levels

  

  Gold prices rose slightly on Monday, supported by a slight decline in the US dollar and US Treasury bond yields, but the outlook for the yellow metal price remained fragile in the face of interest rate hike prospects from major central banks. Spot gold rose 0.2 percent to $1,854.83 an …

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• 6 June 2022 1:10 pm

  Oil exceeds $120 after Saudi Arabia raises crude prices

  

  Oil futures rose above $120 on Monday after Saudi Arabia raised crude selling prices in July, indicating a tight supply even as the OPEC+ producers agreed to accelerate production increases over the next two months. Brent crude rose 68 cents, or 0.6 percent, to $ 120.40 a barrel by 0640 …

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• 6 June 2022 12:33 pm

  The Nikkei closed at its highest level in two months

  

  Japan’s Nikkei closed at a two-month high on Monday, as energy stocks rebounded on higher oil prices while technology firms rebounded. The Nikkei rose 0.56 percent to 27,915.89 points at the close, after it began the session falling to 27,523.95 points, after selling led by the technology sector on Wall …

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• 6 June 2022 4:15 am

  Financial Markets’ Weekly Recap, 30 May: 3 June

  

  Around the end of 2021, nobody was talking about a US recession, but now, the dreaded ‘recession’ word is on everybody’s lips. During the week, Tesla CEO Elon Musk voiced this fear using the “super bad feeling” phrase about the US economy. “Lots of luck on his trip to the …

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• 4 June 2022 3:24 am

  Market Divers – US Session – 3 June

  

  US equities finished the last trading session of the week with heavy losses, between 1.05% and 2.47%. Positive US jobs report further cemented the case for a US Federal Reserve rate hike of 50 bps in the June meeting, despite worries that the US central bank could cause a recession.Economic …

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• 4 June 2022 3:02 am

  Biden Ignores Elon Musk’s economic concerns, lauds Ford

  

  US President Joe Biden ignores Elon Musk’s fears about the US economy by pointing to latest investments made by the electric-carmaker’s competitors. Biden also took an indifferent situation at Musk saying “Lots of luck on his trip to the moon”.Biden, on Friday, warmly praised some of Musk’s competitors for expanding …

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• 4 June 2022 2:44 am

  Baker Hughes: US oil, gas drilling rigs unchanged this week

  

  US energy companies have kept oil and natural gas rigs unchanged this week as crude output slowly recovers from the impact of the coronavirus pandemic with many producers still more focused on returning money to shareholders.The oil and gas rig count, an early indicator of future output, were flat at …

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• 4 June 2022 1:53 am

  USD/CHF Advances as bulls eye 20-DMA

  

  On the week’s last trading day, the USD/CHF pair jumps from weekly lows erasing Thursday’s losses, the pair also gains 0.56% as the New York session gets closer to its end. The USD/CHF is trading at 0.9626, reflecting a downbeat mood and a strong US Dollar, underpinned by high US …

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• 4 June 2022 12:29 am

  US Shares slide after robust jobs data, renewed rate concerns

  

  The S&P 500 fell 1.6%, while the Dow Jones Industrial Average shed 350 points, or 1%. The Nasdaq Composite tumbled 2.5%. Meanwhile, the most notable move following the jobs report came from the bond market, with the yield on 10-year Treasury jumping as much as 7 basis points to near …

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