Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 30 June 2022 5:22 pm

  Novak says setting a ceiling for the price of Russian oil will push prices higher

  

  Russian Deputy Prime Minister Alexander Novak said on Thursday that attempts to put a ceiling on the price of Russian oil could lead to an “imbalance” in the market and push prices higher, the Russian Interfax news agency quoted Russian Deputy Prime Minister Alexander Novak as saying on Thursday. His …

  Read More »
• 30 June 2022 4:40 pm

  US annual Core PCE inflation falls to 4.7% in May as expected

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 6.3% on a yearly basis in May, the US Bureau of Economic Analysis announced on Thursday. The Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, declined to 4.7% in the …

  Read More »
• 30 June 2022 3:55 pm

  Gold is on its way to record the worst quarter since the beginning of 2021

  

  Gold settled for most of the time Thursday, June 30, but faces its worst quarter since early 2021 as the dollar’s impressive performance deterred investors. spot gold prices settled at $1817.01 an ounce, and US gold futures prices changed little to $1816.90 an ounce. It is expected that gold prices …

  Read More »
• 30 June 2022 2:34 pm

  Euro remained near its lowest level since 2015

  

  The Swedish Krona rose against the Euro on Thursday after Sweden’s Central Bank raised its key interest rate by 50 basis points, as expected. On the other hand, the price of the euro stabilized against the major currencies and remained near its lowest level since 2015 against the Swiss franc …

  Read More »
• 30 June 2022 1:55 pm

  Turkey’s foreign trade deficit rises 155% in May

  

  Data from the Turkish Statistical Institute showed on Thursday that the foreign trade deficit rose 155.2 percent year-on-year to $10.61 billion in May, with imports increasing by 43.5 percent. The data showed that imports amounted to $29.59 billion, while exports rose 15.3 percent to $18.98 billion. Under an economic program …

  Read More »
• 30 June 2022 1:14 pm

  Japanese stocks fall 1.5% as economic slowdown fears grow after production data

  

  Japanese shares fell more than 1.5 percent on Thursday after data showed that monthly industrial production posted its biggest drop in two years and the yen fell to a 24-year low overnight, stoking fears of an economic slowdown. The Japanese Nikkei index fell at a steady pace throughout the day …

  Read More »
• 30 June 2022 12:34 pm

  European stocks face their worst quarter since the pandemic plunge in early 2020

  

  European shares fell on Thursday, on track to record their worst quarter since the massive plunge during the COVID-19 pandemic in early 2020, as investors grew increasingly concerned about a global recession following tough central bank measures to tame soaring inflation. The pan-European STOXX 600 index fell 1.4 percent by …

  Read More »
• 30 June 2022 3:26 am

  Bitcoin Dips Below $20000

  

  Bitcoin’s price entered a consolidation phase on Wednesday while its downtrend seems to have stopped after a severe shakeout to $17K. This range is likely to provide significant support, as it contains the 2017 all-time high, and it might spark a short-term rally towards the $30K region.Bitcoin price has fallen …

  Read More »
• 30 June 2022 2:40 am

  Market Drivers – US Session – Wednesday, June 29

  

  The financial markets was driven by comments by key central bankers who spoke before the ECB Forum in Portugal. Fed Chair, Jerome Powell explained that there is a risk the US central bank’s interest rate hikes will slow the economy too much. Powell added that the bigger risk, however, is …

  Read More »
• 30 June 2022 1:26 am

  Oil slides on rising US fuel inventories

  

  Oil prices retreated by about 2% on Wednesday amid rising US gasoline inventories and worries about slower economic growth around the world in addition to ongoing concerns about tight crude supplies. Brent futures fell $1.72, or 1.5%, to settle at $116.26 a barrel. The August contract will expire on Thursday …

  Read More »
• 30 June 2022 12:34 am

  Wall Street struggles to recover

  

  The Dow Jones Industrial Average finished the day up 82.32 points, or 0.27%, to 31,029.31, while the other benchmarks closed slightly in the red. The S&P 500 slipped 0.07% to 3,818.83, and the tech-heavy Nasdaq Composite inched lower by 0.03% to 11,177.89.US equities fluctuated on Wednesday, after the major averages …

  Read More »
• 29 June 2022 10:48 pm

  Powell: The pandemic forever altered the US economy

  

  It is not yet obvious whether the US economy could return to its pre-pandemic status according to Fed Chair Jerome Powell who spoke on Wednesday before central banker forum in Portugal.Powell also said he was more concerned about the risk of failing to stamp out high inflation than about the …

  Read More »
• 29 June 2022 10:12 pm

  EU’s Sefcovic: EU cannot accept NI protocol being illegally scrapped

  

  EU Commission Vice President Maros Sefcovic told a news conference in Brussels, on Wednesday, that the EU cannot accept North Ireland Protocol being illegally scrapped. He has also explained that zero checks on Great Britain and Northern Ireland trade are ‘not an option’. The European Commission is willing to negotiate …

  Read More »