Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 12 July 2022 8:12 pm

  Gold pressured by stronger US dollar

  

  Precious metals have generally maintained the same defensive stance, with gold reaching two-month lows and silver at two-year lows.Risk aversion dominates Tuesday’s trading session as investors await clues that will be provided by June’s US CPI report, due on Wednesday. Gold price is slanted to the downside and might test …

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• 12 July 2022 7:23 pm

  US Consumer Price Index Preview: Forecasts from 11 major banks

  

  June’s Consumer Price Index data will be released on Wednesday by the US Bureau of Labour Statistics. Economists and researchers from 11 major banks have provided their expectations regarding the awaited economic data as follows:Headline inflation at 8.6% is worrying, but it could get even worse, so, economists expect an …

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• 12 July 2022 7:01 pm

  Gap shares slide on CEO’s unexpected resignation

  

  Gap’s stock slid by 6.3% after CEO Sonia Syngal, who has been in her job for a couple of years, resigned. The former CEO will be replaced by executive chairman and former Walmart executive Bob Martin. The price of Gap stock traded at $8.4 per share following the resignation that …

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• 12 July 2022 6:39 pm

  Euro hits $1.00005, dollar soars to new two-decade highs

  

  The US dollar and European single currency came within a whisker of parity for the first time since 2002 on Tuesday morning, as financial markets fret over the likelihood of a global recession ahead. The euro teetered on the edge of hitting $1 for the first time since 2002, as …

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• 12 July 2022 4:58 pm

  OPEC expects oil demand to slow in 2023

  

  The Organization of the Petroleum Exporting Countries (OPEC) expects global demand for oil to increase next year, but at a slightly slower pace than this year, as consumption will receive support from the improved control of the Covid-19 pandemic and the continued recovery of global economic growth. In its monthly …

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• 12 July 2022 2:48 pm

  Oil falls after fuel demand outlook affected by new Covid restrictions in China

  

  Oil prices fell on Tuesday, after the imposition of new restrictions to contain Covid-19 in China and fears of a global economic slowdown affected the outlook for fuel demand. The price of benchmark Brent crude in September contracts fell by $1.81, or 1.7 percent, to $105.29 a barrel, and West …

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• 12 July 2022 2:14 pm

  European stocks fall as fears of an economic recession grow

  

  European shares extended losses for the second consecutive session on Tuesday, weighed down by fears of a lack of energy supplies, while a rise in COVID-19 infections in China exacerbated fears of a global economic recession. The decline included most sectors such as healthcare, technology and luxury products. The oil …

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• 12 July 2022 1:18 pm

  Gold settles above the lowest level in 9 months

  

  Gold settled on Tuesday, with lower yields on US Treasuries, which boosted demand and offset the impact of a stronger dollar that pushed gold to a nine-month low earlier. And gold settled in spot transactions at $ 1733.59 an ounce by 0740 GMT, after hitting its lowest level since September …

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• 12 July 2022 12:13 pm

  Japanese stocks fall on recession fears after COVID-19 cases surge

  

  Japanese stocks fell on Tuesday as a surge in domestic COVID-19 infections sparked fears of a recession and led to a morning sell-off. The Nikkei index closed down 1.77 percent at 2,6336.66 points, after losing as much as 1.99 percent earlier in the session. The broader Topix index fell 1.64%. …

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• 12 July 2022 11:35 am

  Senior US Treasury official: Oil may rise 40% if the price of Russian crude is not capped

  

  A senior US Treasury official said on Tuesday that the global price of oil could rise 40 percent to about $140 a barrel if a proposed ceiling for the price of Russian crude is not imposed, along with sanctions waivers that allow shipments below that price. The official said US …

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• 12 July 2022 10:36 am

  Renault sales 2022 fell by 30% after the exit from Russia

  

  French carmaker Renault on Tuesday reported a decline in its car sales in the first half of 2022 after shutting down its activities in Russia, its second-largest market, following the invasion of Ukraine. The group said its worldwide sales fell 29.7 percent compared to last year, to just over one …

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• 12 July 2022 3:54 am

  Market Drivers – US Session – Monday, July 11

  

  The US dollar touched fresh highs against most major rival currencies, as the week started amid risk-off mode. The EUR/USD pair trades in the 1.0040 price zone, its lowest since December 2002. The shared currency is under additional pressure amid an energy crisis. As expected, Russia closed the Nord Stream …

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• 12 July 2022 2:34 am

  Gold trades around key support at $1,730

  

  Gold price is struggling to find a way out by surrendering the critical support of $1,730.00 as the US Dollar Index, on Monday, prints a fresh 19-year high at 108.27 on expectations for higher US Inflation.Gold is also displaying subdued performance and the volatility prior to the release of the …

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