Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 21 June 2022 5:10 pm

  Canada: Retail Sales rise by 0.9% in April vs. 0.8%

  

  The monthly data published by Statistics Canada showed on Tuesday that Retail Sales in Canada rose by 0.9% in April to C$60.72 billion. This print came in better than the market expectation for an increase of 0.8% and followed March’s expansion of 0.2% (revised from 0%). The publication further revealed …

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• 21 June 2022 4:03 pm

  Wall Street set for bounceback but recession risk keeps investors cautious

  

  Wall Street was set to open higher on Tuesday and European shares were set for a second day of gains, recovering slightly from last week’s 17-month lows, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, …

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• 21 June 2022 3:11 pm

  Euro rises as ECB officials confirm an interest rate hike

  The euro rose on Tuesday, drawing support from the European Central Bank’s intention to raise interest rates to contain inflation, while the Japanese yen again touched its lowest level in 24 years, affected by the continued pursuit of the Bank of Japan to pursue a very loose monetary policy. The …

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• 21 June 2022 2:33 pm

  The US President is about to decide whether to suspend the federal gasoline tax

  

  US President Joe Biden said that he is expected to make a decision this weekend to suspend the federal tax on gasoline, adding that a similar decision should be made based on clear data. It is worth noting that the study of suspending a tax on gasoline comes at a …

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• 21 June 2022 2:04 pm

  European shares continue to recover

  

  European shares continued their recovery on Tuesday, boosted by gains in chemical, mining and oil stocks, with buyers emerging after heavy selling last week on recession fears. The pan-European Stoxx 600 index rose 0.8%, gaining for the third consecutive session, after hitting its lowest level in more than a year …

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• 21 June 2022 1:21 pm

  Nikkei climbs after falling to its lowest level in three months

  

  Japan’s Nikkei index rose strongly on Tuesday after falling to its lowest level in three months, as investors welcomed the rise in US stock indices and the buying interest in cyclical decliners. The Nikkei ended trading on Tuesday, up 1.84% to close at 26,246.31 points, after rising as much as …

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• 21 June 2022 12:36 pm

  Oil prices rise amid market fears of supply shortage

  

  Oil prices rose on Tuesday, recouping more of last week’s losses, while investors focused on the short supply of crude and fuel rather than the recession that could limit demand in the future. Brent crude futures rose 81 cents, or 0.7 percent, to $114.94 a barrel by 0703 GMT, adding …

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• 21 June 2022 4:50 am

  Market Drivers – US Session – Mon. July 20

  

  The US dollar has ended the US trading session on Monday with modest losses against most major rival currencies. The better tone of European indexes and a holiday in the US, however, resulted in choppy trading across the board.Commodity-linked currencies got to advance against the greenback, despite the sour tone …

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• 21 June 2022 4:14 am

  RBA’s Lowe: Australians should be prepared for more interest rate increases

  

  Australia’s top central banker on Tuesday flagged a lot more policy tightening in the upcoming months as rates are seen as still “very low” and it was important that higher inflation did not feed into public expectations and wage claims”.The Reserve Bank of Australia moves to implement what it describes …

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• 21 June 2022 1:03 am

  AUD/USD hovers around 0.6950s ahead of RBA Lowe’s speech

  

  The AUD/USD begins the week on the right foot, with 0.25% gains. The positive market sentiment due to China’s covid-linked news and the US weighing lifting restrictions on China’s increased appetite for riskier assets.Amid this positive sentiment, US equity futures closed earlier due to a holiday. That, alongside China’s Covid-19 …

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• 21 June 2022 12:02 am

  Is Biden’s Visit to KSA A Magic Wand Cooling Energy Prices?

  

  US President Biden is using key political capital by meeting with Saudi Crown Prince Mohammed Bin Salman in an attempt to convince the Kingdom to stabilize global oil markets and ease prices for Americans at the gas pump. Saudi Arabia’s position as the world’s second largest oil producer and unofficial …

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• 20 June 2022 10:39 pm

  USD/CHF hovers around 0.9670s

  

  The Swiss franc is registering modest gains of 0.20%, as reflected by the falling of the USD/CHF pair. The pair is retracing from the 50-day moving average and last Friday’s high at 0.9708, down towards the 0.9670s, courtesy of a risk-on impulse as shown by European equities closing in the …

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• 20 June 2022 9:38 pm

  Fed’s Bullard: Seeing effects of Fed guidance on economy

  

  “The Fed still has to follow through to ratify the forward guidance previously given but the effects on the economy and on inflation are already taking hold,” St. Louis Federal Reserve Bank President James Bullard said on Monday.Bullard repeated that the US labour market remains robust and added that the …

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