Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 5 July 2022 2:42 pm

  The euro falls to its lowest level in 20 years as fears of a recession grow

  

  The euro fell to its lowest level in twenty years during trading Tuesday, July 5th, after losing more than 1% of its value to record 1.0283 against the dollar. This comes with the growing fears of recession in the euro zone, and the rise in prices, without any indications that …

  Read More »
• 5 July 2022 1:48 pm

  Gold prices fall as growth concerns ease due to rising dollar and interest

  

  Gold prices fell in limited trading on Tuesday, after the strong performance of the dollar and the expected hike in interest rates outweighed the supportive effect of gold from concerns about the outlook for the global economy. And gold fell in spot transactions 0.2 percent to $ 1805.20 an ounce …

  Read More »
• 5 July 2022 12:38 pm

  European shares rise on hopes of easing Chinese tariffs

  

  European shares rose in early trading on Tuesday after positive economic data from Asia and signs of easing tensions between the United States and China overshadowed fears of a global slowdown, while shares of Scandinavian airline SAS fell after it filed for bankruptcy in the United States. The pan-European Stoxx …

  Read More »
• 5 July 2022 11:44 am

  Nikkei rises 1% as investors flock to cheap technology stocks

  

  Japan’s Nikkei index closed higher by one percent on Tuesday as investors sought to snipe declining technology shares, as well as stocks receiving support from rising Asian stocks and US futures. The Nikkei rose 1.03 percent to close at 26,423.47 points. The broader Topix index rose 0.5 percent to 1,879.12 …

  Read More »
• 5 July 2022 10:56 am

  Oil rises as tight supplies outweigh recession fears

  

  Oil prices rose on Monday as supply concerns driven by lower OPEC production, unrest in Libya and sanctions against Russia outweighed concern about a global recession slashing demand for crude. Inflation in the euro area hit another record high in June, which strengthens the case for rapid interest rate increases …

  Read More »
• 5 July 2022 10:33 am

  RBA hikes OCR by 50 bps to 1.35%, as expected

  

  At its July 5 monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to raise the official cash rate (OCR) by 50 basis points (bps) from 0.85% to 1.35%, as widely expected. A Reuters poll of 33 economists showed the RBA will increase its cash rate by …

  Read More »
• 5 July 2022 4:01 am

  Market Drivers – US Session – July 4

  

  Asian shares achieved shy gains, but European indexes maintained the green the territory with some difficulty, reflecting persistent growth and inflation concerns while Wall Street futures responded to such fears by edging lower.Financial markets witnessed a quiet start of the week, as US markets were closed commemorating the Independence Day …

  Read More »
• 5 July 2022 2:50 am

  RBA Expecteed To Hike Interest Amid Recession Fears

  

  The Reserve Bank of Australia is expected to decide an additional increase the national interest rate amid accelerating recession-linked concerns. The RBA will have July’s monetary policy meeting on Tuesday amid expectations of interest rate hike for the third successive time. RBA policymakers indicated that a 0.25 or a 0.5 …

  Read More »
• 5 July 2022 1:23 am

  BTC/USD Struggles With Support Ahead Of FOMC Minutes

  

  Bitcoin price, despite latest improvement above $20k, has remained vulnerable to economic data particularly ahead of the awaited FOMC Minutes.BTC/USD currently consolidates between key technical support and resistance. Cryptocurrencies tend to benefit from the US holiday but most crypto assets are expected to encounter a relatively tough week ahead. After …

  Read More »
• 5 July 2022 12:33 am

  Gold steadies in the quiet before the storm

  

  At $1,807.17, gold price is slightly retreating in the midday US session as markets are on holiday. Bond markets are closed on the occasion of the US Independence Day, but the US dollar has seen two-way price action which has both supported and sunk gold at the start of the …

  Read More »
• 4 July 2022 11:24 pm

  GBP/USD flattened ahead of UK PMIs, US Factory Orders

  

  The British pound’s performance is flat during the day, though slightly positive after a noticeably quiet trading day. Weaker UK economic data, high inflation, and slowing growth paint a stagflationary scenario for the GBP.On Tuesday, the UK S&P Global/CIPS Services and Composite PMIs to shed additional information on the British …

  Read More »
• 4 July 2022 10:31 pm

  EUR/USD Drops Toward 1.0400 On Independence Day Holiday

  

  US markets are closed and price action is limited. So far, the US dollar recovers and turns positive. But, the EUR/USD pair seems unable to hold to gains, and is still vulnerable.The EUR/USD dropped from 1.0461 to 1.0416, approaching the Asian session low as the US dollar recovered strength. Volatility …

  Read More »
• 4 July 2022 9:47 pm

  Turkey’s inflationary pressures would continue due to domestic, global factors

  

  The Consumer Price Index Turkey rose in June by 4.98%, and the annual rate approached 8%; slightly lower than market consensus (5.7%) and expectations that suggest (5.5%), which resulted in an annual figure of 78.6%. The downside surprise was due to lower food prices, particularly processed food conflicting with the …

  Read More »