Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 19 July 2022 9:15 pm

  GBP/USD hits a two-week high

  

  The GBP/USD pair is recording solid gains in the week by about 1.19%. BoE’s Governor Bailey said that 50 bps rate hikes are on the table in the next meeting. The GBPUSD grinds higher during the New York session, extending its rally to three straight days after falling close to …

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• 19 July 2022 8:39 pm

  Bitcoin fails to capitalize on Monday’s gains

  

  Bitcoin price is stuck below the short-term resistance zone plying between $22,000 and $23,000.The most famous cryptocurrency trades with modest losses on Tuesday at $22,055, down 1.85% for the day. Bitcoin price is expected to consolidate in the range of $20,000 and $23,000. The downside is well guarded near $18,000 …

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• 19 July 2022 7:58 pm

  EUR/USD rallies on a softer US dollar as ECB’s decision awaited

  

  the EUR/USD pair sharply advances, on the track of the same prevalent sentiment, earlier during the European session. Investors are interested in leaks that the ECB might hike rates more than 25 bps in the July meeting. The news brought about the EUR/USD pair’s jump from 1.0160 towards daily highs …

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• 19 July 2022 7:14 pm

  BoE’s Bailey: 50 bps hike will be on table at next meeting

  

  Bank of England Governor Andrew Bailey said on Tuesday that a 50 basis points rate increase will be among the choices at the next policy meeting, as reported by Reuters.The GBP/USD pair extended its daily rally and touched its highest level in more than 10 days at 1.2045. As of …

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• 19 July 2022 5:46 pm

  Bank of Japan Preview

  

  The Bank of Japan (BoJ) will announce its monetary policy decision on Thursday, July 21 at 03:00 GMT. The central bank is expected to keep interest rates unchanged as the policymakers are committed to keeping a dovish tone to revive the overall demand in the economy. The BoJ is focused …

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• 19 July 2022 4:15 pm

  US: Housing Starts decline 2% in June

  

  The data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 2% to a seasonally adjusted annual rate of 1,685,000. Building Permits fell by 0.6% in the same period following the 7% contraction reported in May. “Privately‐owned housing completions in June were at a seasonally …

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• 19 July 2022 3:16 pm

  Gold stuck in a narrow range as central bank meetings approach

  

  Gold prices stabilized on Tuesday, supported by a weak dollar, but prices were stuck in a narrow range as investors refrained from making big bets ahead of major central bank meetings. By 0726 GMT, gold was stable in spot transactions at $1708.35 an ounce, while US gold futures fell 0.3 …

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• 19 July 2022 1:32 pm

  The annual inflation rate in the euro area rose to 8.6% in June

  

  Annual inflation in the euro area hit a new record after reaching 8.6% in June, in line with expectations, up from 8.1% recorded in May. The inflation rate rose on a monthly basis by 0.8%, also in line with expectations, and it also rose by the same rate in May. …

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• 19 July 2022 12:36 pm

  Japan stocks post modest gains ahead of the central bank meeting.

  

  Japanese stocks extended gains on Tuesday, albeit with modest performance, as investors refrained from any big moves ahead of the Bank of Japan’s monetary policy meeting, despite diminishing expectations for a large interest rate cut in the US central bank. The Nikkei index started its trading, up 0.8 percent, to …

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• 19 July 2022 11:33 am

  Turkey’s public budget records a record deficit of 1.77 billion dollars in June

  

  Turkey’s central government general budget showed a deficit of 31 billion liras ($1.77 billion) in June, according to Treasury and Finance Ministry data, with an initial deficit of 18.3 billion liras. In the first half of the year, the general budget recorded a surplus of 93.6 billion pounds. The primary …

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• 19 July 2022 11:28 am

  Energy Information Administration: US shale oil production may rise to a two-and-a-half year high in August

  

  The US Energy Information Administration expected in a report today, Monday, July 18, that oil production in the main shale basins in the United States would rise to the highest level since March 2020 next month. According to the report, US shale oil production may rise by 136 thousand barrels …

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• 19 July 2022 10:44 am

  Oil jumps $5, supported by the decline in the dollar and tight supplies

  

  Oil prices jumped more than five dollars on Monday, boosted by a weak dollar and expectations that the US Federal Reserve will not raise interest rates by a full percentage point at its next meeting to fight inflation. The global benchmark Brent crude contracts for September delivery ended the trading …

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• 19 July 2022 4:09 am

  Market Drivers – US Session – Monday, July 19

  

  The US dollar started the first day of the trading week weaker than the previous week, losing ground against most rival currencies. In the US session, afternoon, the dollar bounced back, as Wall Street was not able to retain its early gains and eventually headed to the red territory.Commodity-linked currencies …

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