Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 4 July 2022 8:04 pm

  Scholz: Current crisis won’t be over in a few months

  

  German Chancellor Olaf Scholz said on Monday that his government will continue to meet regularly with unions on energy price and inflation issues while noting that the current crisis will not be over in a few months.Scholz’s comments don’t have any immediate impact on the Euro’s performance against rival currencies. …

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• 4 July 2022 7:21 pm

  ECB’s de Guindos: Elevated inflation will remain with us for some time

  

  European Central Bank Vice President Luis de Guindos said on Monday that they have seen inflationary pressures broaden and intensify across many goods and services in recent months.The EUR/USD pair showed no immediate reaction to these remarks and was last seen trading flat on the day at 1.0430.Key Quotes“Elevated inflation …

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• 4 July 2022 6:02 pm

  The dollar is falling against the euro and pound

  

  The euro and sterling rose against the dollar on Monday in quiet trade amid the holiday season in the United States while risk appetite improved globally. With US markets closed for the Independence Day holiday, markets expected light trading on Monday and major currencies gained ground at the expense of …

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• 4 July 2022 4:50 pm

  Gold prices fall as rates rise in July

  

  Gold prices fell on Monday as higher interest rates made the precious metal less attractive but the dollar’s decline helped hold gold above the $1800 support. Spot gold fell 0.2 percent to $1,806.58 an ounce by 1121 GMT, after touching a five-month low of 1,783.50 on Friday. US gold futures …

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• 4 July 2022 3:38 pm

  Swiss inflation rises to a 29-year high of 3.4%

  

  Swiss inflation touched a 29-year high of 3.4% in June, more than economists had expected, and for the first time in Switzerland inflation exceeded 3% since 2008. This reading fueled talk that the central bank may tighten its policy again soon after raising its policy rate last month for the …

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• 4 July 2022 1:55 pm

  Energy stocks lead European markets higher ahead of inflation data

  

  European stock markets rose on Monday, boosted by oil and gas stocks, while investors awaited the release of inflation data in the eurozone, after a report on consumer prices published last week boosted expectations that the European Central Bank will raise interest rates. The pan-European STOXX 600 index rose 0.8 …

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• 4 July 2022 1:08 pm

  Annual inflation in Turkey jumps to 78.6%, the highest level in 24 years

  

  Turkey’s annual inflation rate jumped to a 24-year high of 78.62 percent in June, slightly above expectations, data showed on Monday, driven by the impact of the Ukraine war, rising commodity prices and the depreciation of the lira. The Turkish Statistical Institute said consumer prices rose 4.95 percent month-on-month, compared …

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• 4 July 2022 12:21 pm

  Germany’s trade deficit hit 1B in May

  

  Germany’s seasonally adjusted deficit was about 1 billion euros in the previous May, down from the revised figure in April of 3.1 billion euros, according to data released on Monday. Exports in Germany amounted to about 125.8 billion euros, down 0.5% on a monthly basis, but increased by 11.7% compared …

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• 4 July 2022 11:38 am

  Japan shares rise at the close, supported by the utilities sector

  

  Japanese shares closed higher on Monday, supported by utility companies as the country continues to grapple with an unprecedented heat wave. Overall, investor sentiment remained low on widespread fears of a global economic slowdown, with trading slowing ahead of the US Independence Day holiday on Monday. The Nikkei index rose …

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