Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 16 July 2022 1:12 am

  US adds new oil drilling rigs

  

  Active drilling rigs in the US rose by 4 to 756, the highest since March 2020 and 56% more than a year ago, according to the latest weekly survey from Baker Hughes.Drilling rigs targeting crude oil gained 2 to 599, also the most since 2020, and gas rigs were unchanged …

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• 15 July 2022 11:34 pm

  US equities benefit from better than expected data

  

  US equities surged on Friday, bringing a positive end to a seemingly disappointing week, as strong retail sales data and a survey hinting at easing inflation expectations tempered concerns over the economic outlook.Ealier on the day, Europe’s Stoxx 600 equity index closed 1.8 per cent higher. The S&P 500 share …

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• 15 July 2022 10:16 pm

  USD/CAD slides from weekly highs

  

  The USD/CAD pair extends its decline from weekly highs around 1.3220s reached on Thursday, spurred by elevated US PPI data, which showed that inflation is far from peaking, triggering an uptick in expectations of a Fed 100 bps hike, which later eased as Fed policymakers pushed back against those assumptions.The …

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• 15 July 2022 8:51 pm

  US Consumer Confidence: Inflation expectations cooled

  

  University of Michigan’s Consumer Confidence July report has showed an unexpected modest rebound in the main index. Inflation expectations are cooled. This could represents welcome news for Fed’s policymakers and it makes the pressure to go big at the next FOMC meeting less intense after this week’s scorching CPI reading.At …

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• 15 July 2022 7:56 pm

  Bitcoin recovers but traders still cautious

  

  Bitcoin breached the important $20,000 resistance level and surged past $20,600 on Friday. However, traders are still cautious because the US Fed is expected to boost interest rates by as much as 75-100 basis points in an effort to cool down the country’s spiking inflation, which would make riskier assets, …

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• 15 July 2022 7:10 pm

  Fed’s Daly: Not concerned about debate on rate hikes

  

  San Francisco Fed President Mary Daly said on Friday that she is not concerned above “over cooking things” on rate hikes. Daly also noted that US consumers continue to spend and that the labour market is still robust.However, Daly mentioned that “Inflation is too high” and that the Fed is …

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• 15 July 2022 4:52 pm

  The dollar index fell but heading to record its third weekly gain

  

  The dollar index fell during Friday’s trading, but it is heading to record its third weekly gain, benefiting from its strong rise throughout the week, with increasing expectations of a rate hike by the Federal Reserve. The index is up 4% in the past three weeks, marking its biggest gain …

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• 15 July 2022 3:56 pm

  A strong rise in cryptocurrency

  

  The markets have recently witnessed a number of turbulence that affected the risk appetite of investors, by the negative data such as the recent inflation and unemployment data, in addition to the cautious anticipation of the upcoming Federal Reserve meeting with expectations of raising interest rates by 100 points, which …

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• 15 July 2022 1:59 pm

  USD is at its highest level in two decades

  

  The US dollar settled at a two-decade high on Friday after global markets swept into a wave of risk-off, with traders expecting the Federal Reserve to raise interest rates by 100 basis points later this month. Currencies seen as more vulnerable, including the Australian dollar and the British pound, have …

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• 15 July 2022 1:10 pm

  Gold Retreats On Stronger USD

  

  Gold prices fell on Friday, July 15, and remained on track for the fifth consecutive weekly decline, as the continued rise in the dollar and fears of a sharp rise in US interest rates affected the demand for bullion. And the price of gold in spot transactions fell 0.3% to …

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• 15 July 2022 12:00 pm

  Nikkei rises for third day thanks to Fast Retailing and Nintendo gains

  

  Japan’s Nikkei index closed higher for the third consecutive session Friday after weak trading, led by gains for Uniqlo clothing chain operator Fast Retailing and video game maker Nintendo, while fears of an economic slowdown limited the gains. The Nikkei index closed up 0.54% at 26788.47 points, after swinging for …

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• 15 July 2022 10:04 am

  China’s economy shrinks in the second quarter of 2022

  

  The Chinese economy contracted sharply in the second quarter of this year 2022, while annual growth slowed significantly, highlighting the huge losses in economic activity due to the widespread closures to contain the Corona virus, which shook industrial production and consumer spending. Official data released Friday showed that China’s gross …

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• 15 July 2022 2:55 am

  Market Drivers – US Session – Thursday, July 14

  

  Recession-linked fears have put the US dollar on the bullish path throughout the first half of the day, although cooling expectations of a 100 bps rate hike in the US triggered a corrective slide. The EUR/USD pair plunged to 0.9951 but finished the day at around 1.0020.CME FedWatch is now …

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