Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 28 June 2022 5:07 pm

  OPEC Boosts Oil Income in 2021, Well Completions Drop

  

  OPEC’s oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID pandemic, while the number of its members’ active rigs posted a modest rebound and new completed wells declined, data from the group showed. The value of petroleum exports by the 13-member Organization of …

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• 28 June 2022 4:11 pm

  Moody’s agency confirms Russia’s default on foreign debt

  

  Moody’s, a credit rating agency, confirmed that Russia had defaulted on its foreign debt for the first time in 100 years after bondholders confirmed they had not received an interest payment of $100 million. Moody’s said Russian sovereign debt holders had not received their $100 million euro bond payment coupons …

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• 28 June 2022 3:46 pm

  The G7 agrees to study a ceiling on the price of Russian oil

  

  G7 leaders agreed to consider a ban on the transport of Russian oil being sold above a certain price, according to part of the final statement seen by Reuters. “We invite all like-minded countries to consider joining us in what we are doing,” the G7 leaders said.

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• 28 June 2022 2:31 pm

  Oil extends gains as major producers signal production limits

  

  Oil prices rose for a third day in a row on Tuesday as major producers such as Saudi Arabia and the United Arab Emirates seem unlikely to be able to increase production significantly, while political turmoil in Libya and Ecuador heightened supply concerns. The price of US West Texas Intermediate …

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• 28 June 2022 1:13 pm

  Nike revenue dips 1% as sales slow in China, US

  

  Nike said revenue dipped 1 per cent to $12.2 billion in the fourth quarter due to inventory pileups, lagging sales in China and ongoing supply chain disruptions, marking the first time the company’s quarterly sales have declined since the first quarter of 2020. “These are times when strong brands get …

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• 28 June 2022 12:53 pm

  Commodity stocks lead European markets higher

  

  European shares rose on Tuesday, boosted by gains in commodity-related stocks and automakers after China eased quarantine restrictions related to COVID-19. The pan-European Stoxx 600 index rose 0.9 percent by 0714 GMT, rising for the third consecutive session, amid waning concerns about the central bank’s moves to tighten monetary policy …

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• 28 June 2022 12:17 pm

  Japan’s Nikkei index rises at the close, supported by energy stocks

  

  Japan’s Nikkei rose and crossed the significant 27,000-point level for the first time in two weeks on Tuesday, boosted by a rise in energy stocks, though uncertainty over US interest rate hikes limited gains. The Nikkei rose 0.66 percent to close at 27,049.47 points, close to its highest level during …

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• 28 June 2022 3:38 am

  Market Drivers – US Session – Monday, June 27

  

  Gold advanced at the beginning of the day, but finishes it in the red at around $1,824.00 per ounce. WTI, records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ cuts 2022 market surplus from …

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• 28 June 2022 3:03 am

  Wall Street falls after recent big gains

  

  Monday witnessed a volatile trading session and US stocks ended slightly lower after posting sharp gains the week before, while oil prices and Treasury yields rose.Economic data on Monday showed new orders for US-made capital goods and shipments increased solidly in May, pointing to sustained strength in business spending on …

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• 28 June 2022 2:37 am

  T-yields rise after poor auction

  

  US Treasury yields rose on Monday as durable goods orders data and pending home sales were surprisingly higher than expected. The sale of two- and five-year notes was weak as the market gauges the economy and Federal Reserve efforts to tame inflation. The Treasury sold $97 billion in two- and …

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• 28 June 2022 2:03 am

  UK House of Commons Passes NI Protocol

  

  Proposed legislation to allow the UK to unilaterally rip up Brexit arrangements for Northern Ireland at the risk of a trade war with the EU passed the second reading stage in the House of Commons on Monday night.As for the market’s reaction, the GBP/USD pair extends retreat from over a …

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• 28 June 2022 1:39 am

  NZD/USD Pressured Despite Weaker US Dollar

  

  The US session was mixed with the US dollar dragged downwards in the absence of any catalyst, and was weakened further because of Monday’s manufacturing data. The Dallas Fed Manufacturing Index fell to frustrating -17.7 in June, down from the previous reading of -7.3 in May, putting it at its …

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• 28 June 2022 12:02 am

  Gold pressured, but eying $1,840

  

  Gold is under pressure despite the weaker the US dollar. At $1,823, gold price is down by 0.23% while the US dollar is also underwater, currently down by 0.18%. The US dollar has struggled versus its major rivals at the start of the week due to expectations concerning inflation which …

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