Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 15 July 2022 10:04 am

  China’s economy shrinks in the second quarter of 2022

  

  The Chinese economy contracted sharply in the second quarter of this year 2022, while annual growth slowed significantly, highlighting the huge losses in economic activity due to the widespread closures to contain the Corona virus, which shook industrial production and consumer spending. Official data released Friday showed that China’s gross …

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• 15 July 2022 2:55 am

  Market Drivers – US Session – Thursday, July 14

  

  Recession-linked fears have put the US dollar on the bullish path throughout the first half of the day, although cooling expectations of a 100 bps rate hike in the US triggered a corrective slide. The EUR/USD pair plunged to 0.9951 but finished the day at around 1.0020.CME FedWatch is now …

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• 15 July 2022 2:13 am

  Gold in historic bearish cycle as USD maintains Forex king’s status

  

  Producer price pressures are still too strong to delay any Fed’s future rate hikes. The US dollar could continue to receive support from the recession-linked fears in and outside the United States. Gold has been pressured on Thursday due to a rising US dollar and hawkish sentiment surrounding the Fed …

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• 15 July 2022 12:32 am

  EUR/USD’s Parity Battle Continues

  

  Political as well as other crises across Europe add further pressure on the shared currency. The EUR/USD pair plunged to 0.9951, a fresh multi-year low, now recovering above parity. Speculative interest turned into safety amid persistent fears of recession, triggering stock market selloffs.Fears temporarily cooled during the US session as …

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• 14 July 2022 11:16 pm

  GBP/USD edges lower as traders price Fed bets

  

  The GBP/USD pair is trading down on the day by some 0.7%, falling from the 1.1892 high to a low of 1.1759. The US dollar resumed its relentless move higher on Thursday, charting new 24-year highs in the Dollar Index that tracks the US dollar against six counterparts up more …

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• 14 July 2022 10:14 pm

  Fed’s Bullard calls for a 75bp hike in July

  

  St. Louis Federal Reserve President James Bullard prefers to lift interest rates by 75 basis points at the central bank’s next meeting later in June. Bullard told the Japanese news service Nikkei in an interview released on Thursday that he does not back a larger increase for now.“So far, we’ve …

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• 14 July 2022 9:32 pm

  Could Netflix, Microsoft Ads Cooperation Impact NFLX shares?

  

  Netflix stock gained some relief on the back of news headlines announcing partnership with Microsoft for lower-cost advertising model. Netflix has been under pressure as the pandemic outperformance gradually faded with the stock down nearly 70% so far this year. It has retraced significantly below its pre-pandemic level, which was …

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• 14 July 2022 8:47 pm

  Soaring PPI Gives US Another Worrying Inflation Marker

  

  Producer prices soared by 11.3% in June over a year ago as consumers continue to struggle with skyrocketing prices for just about everything.The US Bureau of Labour Statistics released its Producer Price Index data Thursday, which showed a 1.1% increase last month, contributing to a 11.3% increase in the past …

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• 14 July 2022 8:08 pm

  Fed’s Waller supports 75 bps hike at July meeting

  

  “I think it is plausible that we have a growth recession where it goes below longer-run average but doesn’t go negative,” Federal Reserve Governor Christopher Waller said on Thursday. Waller added that markets would also price a 100 basis points rate hike in July, Waller is also open to a …

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• 14 July 2022 7:19 pm

  US Retail Sales Preview: Forecasts by six major banks

  

  The US Census Bureau will release the June Retail Sales report on Friday. Economists and researchers of six major banks have provided their forecasts regarding the expected data. Retail Sales are forecast to rebound to 0.8% in June with the ex-autos to 0.6% and control rising to 0.3%. TDS“We look …

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• 14 July 2022 3:00 pm

  Japan’s industrial production index fell in May

  

  Japan’s industrial production index fell to 88.0 last May, down 7.5% month-on-month, according to a report released by the Ministry of Economy, Trade and Industry on Thursday. This figure was lower than investors’ expectations, indicating that Japan’s production fell 3.1% compared to last year. In addition, Japan’s inventory ratio rose …

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• 14 July 2022 2:16 pm

  Dollar continues to rise and pushes the euro and yen to the lowest levels in decades

  The dollar continued to rise on Thursday, reaching levels not reached in 24 years against the yen and close to parity with the euro, amid speculation by traders that the Federal Reserve will raise interest rates to combat inflation. Global economic turmoil pushed the dollar’s price to rise sharply as …

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• 14 July 2022 1:14 pm

  Gold falls as dollar and bond yields rise

  

  Gold prices fell 1% on Thursday, after US Treasury yields and the dollar rose, with expectations for gold already damped by fears that the US Federal Reserve will resort to a larger interest rate hike this month to tackle rising inflation. Spot gold fell 1% to $1,718.69 an ounce by …

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