Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 3 June 2022 11:40 am

  Gold is at the highest level in a month as the dollar declines

  

  Gold prices hit a one-month high on Friday with the dollar’s decline, which put the precious metal on track to record its third consecutive weekly increase. By 0214 GMT, spot gold rose 0.2 percent to $1,871.28 an ounce, its highest level since May 9. Gold prices are up about 1 …

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• 3 June 2022 10:48 am

  Nikkei closes at a two-month high

  

  Japan’s Nikkei closed at a nearly two-month high on Friday, boosted by gains in Fast Retailing shares after the company reported strong domestic sales. The Nikkei index rose 1.27 percent to close at 27,761.57 points, the highest closing level since April 5, recording the largest weekly jump since March 25, …

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• 3 June 2022 2:31 am

  Market drivers – US Session – 2 June

  

  US equities edged higher, even despite comments by Fed Vice-Chair Lael Brainard said that the central bank would hardly pause its current rate-hiking cycle amid record inflation levels. Cleveland Loretta Mester said that inflation has not yet peaked and that it’s too early to discuss a potential pause in the …

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• 3 June 2022 2:20 am

  WTI crude rallies over 2% on declining US inventories

  

  The American WTI crude oil pushed higher on Thursday after OPEC+ had agreed to increase its monthly oil quotas, meanwhile, US inventories declined by 5.1-million barrels last week, above the 1.3-million-barrel fall.West Texas Intermediate crude trades at $117.53, namely it is 2.37% higher on Thursday as US oil inventories fell …

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• 3 June 2022 12:53 am

  GBP/USD Lower Ahead Of NFP Data

  

  The GBP/USD pair is sliding from daily highs near 1.2585. The pair was earlier up by 0.68% and had rallied from a low of 1.2469 as the US dollar retraced some of its Wednesday gains ahead of and during another busy data schedule.The highlights on Thursday were mainly weekly initial …

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• 2 June 2022 11:26 pm

  Microsoft Cuts Earnings, Revenue Guidance, Citing Stronger USD

  

  Microsoft stock slips to become the latest company to warn of the US dollar’s impact on financials. The Tech giant also dropped its gross-margin guidance.Microsoft cut sales and earnings guidance for the current quarter, citing the impact of foreign exchange rates as the stronger dollar takes a toll. The software …

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• 2 June 2022 10:37 pm

  Growth stocks push Wall Street higher in choppy trade; eyeing NFP data

  

  US stock indexes rose in choppy trading on Thursday led by Tesla and other growth stocks, with investor focus on Microsoft’s forecast cut and comments from a Federal Reserve official ahead of a key jobs report due on Friday.The S&P index recorded one new 52-week high and 29 new lows, …

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• 2 June 2022 9:22 pm

  Could NFP Data Rock The US Dollar?

  

  Higher than expected wages increase will boost the American dollar, in this high-probability scenario. However; slower salary gains will likely drag the dollar down. As expected figures will certainly create an opportunity to move against the prevalent trend. Nonfarm Payrolls remain significant despite the focus on inflation – it just …

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• 2 June 2022 8:05 pm

  Fed’s Brainard: Number One challenge is getting inflation down

  

  Lael Brainard, Vice Chairwoman of the Fed said on Thursday that the Fed is monitoring mixed signals on the US economy, but the number one priority will still be getting inflation down. Brainard has added that she does expect to see some cooling of the economy over time, and that …

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• 2 June 2022 7:17 pm

  BoC’s Beaudry: BoC might need to take rates to 3.0% or higher

  

  Bank of Canada Deputy Governor Paul Beaudry on Thursday said that the BoC sees an increasing likelihood that it may need to raise its policy rate to 3% or higher. Key Comments:The risk is now greater that inflation expectations could de-anchor and high inflation could become entrenched. The BoC must …

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• 2 June 2022 5:59 pm

  OPEC+ agrees to raise output by 648K BPD in July and again in August

  

  Oil ministers from OPEC+ nations agreed on Thursday to lift output by 648K barrels per day (BPD) in both July and August, according to sources speaking to Reuters, in line with the recommendation made by the group’s Joint Ministerial Monitoring Committee earlier in the day. With Thursday’s meeting having now …

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• 2 June 2022 5:20 pm

  US: Private sector employment rises by 128K in May

  

  Private sector employment in the US rose by 128,000 in May according to US payroll company ADP’s latest estimate of employment change released on Thursday. That was below expectations for 300,000 rise and lower than April’s 247,000 gain. 

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• 2 June 2022 4:30 pm

  Russia calls the European Union’s decision to phase out its oil a “self-destructive” step

  

  Russia warned on Thursday that the European Union’s decision to partially and gradually abandon Russian oil would likely destabilize global energy markets, calling it a “self-destructive” move that could backfire on the bloc. European Union leaders agreed in principle on Monday to slash Russian oil imports by 90 percent by …

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