Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 27 June 2022 11:07 pm

  SEC Chair labels bitcoin a ‘commodity’

  

  Finally, Securities and Exchange Commission Chairman Gary Gensler has said, on Monday, that bitcoin is the only cryptocurrency he is willing to publicly consider as a commodity, rather than a security.The debate over whether any particular cryptocurrency can be labeled a commodity rather than a security has far reaching implications …

  Read More »
• 27 June 2022 10:20 pm

  Could G7 Ban On Russian Imports Impact Gold Price?

  

  G7 members are planning to ban imports of Russian gold in order to tighten the sanctions squeeze on Moscow. However, the precious metal is expected to ignore these news headlines according to TD Securities’ experts and economists.Key Quotes“G-7 ban on new Russian gold imports isn’t expected to impact gold trading …

  Read More »
• 27 June 2022 9:47 pm

  EUR/USD hits two weeks highs

  

  The EUR/USD pair surged further during the US session and climbed to 1.0614, reaching the highest level in two weeks. The euro pulled back under 1.0600. It is holding onto daily gains, still unable to consolidate above 1.0600.Risk sentiment improvement weakened the US dollar. The Dollar Index is falling 0.25% …

  Read More »
• 27 June 2022 9:32 pm

  WTI jumps on the back of OPEC+ surplus news

  

  The US crude oil extends its gains to two consecutive days, though it faces solid resistance at the 50-EMA, around $110.33.Western Texas Intermediate 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+ has cut …

  Read More »
• 27 June 2022 8:00 pm

  OPEC+ lowers 2022 market surplus forecast

  

  Producer group OPEC+ trimmed its projected 2022 oil market surplus to 1 million barrels per day, down from 1.4 million bpd previously, a report said on Monday. The said report was prepared for the group’s upcoming meeting of the OPEC+ Joint Technical Committee scheduled to take place on Tuesday.As for …

  Read More »
• 27 June 2022 7:36 pm

  Dallas Fed Manufacturing Index fell below expectations

  

  The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey plunged to -17.7 in June from -7.3 in May.The latest data missed the market expectation of -3.1 by a wide margin. The New Orders sub-index dropped to 3.3 from 19.8, the Prices Paid for …

  Read More »
• 27 June 2022 7:22 pm

  US Pending Home Sales surge in May above Expectations

  

  The data published, on monthly basis, by the National Association of Realtors showed on Monday that Pending Home Sales rose by 0.7% in May following April’s decline of 4%. This data came in better than the market expectation for a contraction of 3.7%. Despite this monthly increase, Pending Home Sales …

  Read More »
• 27 June 2022 3:22 pm

  G7 still working on precise mechanism to implement price cap on Russian oil

  

  With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. According to Reuters. “To issue coordinated steps tomorrow to raise pressure on Russia.”“Targeting services for transporting Russian oil is a ‘promising avenue’.”“US will impose higher …

  Read More »
• 27 June 2022 2:50 pm

  Kremlin spokesman: Russia rejects accusations of defaulting on its foreign debts

  

  A Russian Kremlin spokesman has rejected accusations that Russia has defaulted on its foreign debt for the first time in more than a century. In a call with reporters, Kremlin spokesman Dmitry Peskov said that Russia had made bond payments due in May but had been blocked by Euroclear due …

  Read More »
• 27 June 2022 2:22 pm

  Russia on the brink of historic debt default as payment period expires

  

  Some Russian bondholders told Reuters they were not getting the $100 million interest they were supposed to receive after the day. For many bondholders, failure to pay on time amounts to a debt default. The Kremlin has repeatedly emphasized the idea that Russia will not default, but that sanctions against …

  Read More »