Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 15 June 2022 12:04 am

  Biden shifts responsibility for taming inflation to Fed

  

  Following a rare meeting between President Joe Biden and Fed Chair Jerome Powell, Biden emphasized the importance of allowing the Fed to act autonomously as it works to diminish inflation and prevent a recession.The meeting occurred days prior to the announcement that inflation rates had once again reach decades-high levels …

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• 14 June 2022 11:11 pm

  WTI retreats from fresh one-month high

  

  Crude oil prices are retreating after reaching fresh three-month highs. The West Texas Intermediate crude hit an intraday high of $123.66, and now is trading at around $119.38. The initial price rally came after the OPEC+ reported that it produced a total of 28.5 million barrels per day in May, …

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• 14 June 2022 10:23 pm

  ECB closely monitors current market developments

  

  European Central Bank Governing Council member Isabel Schnabel said on Tuesday that the monetary policy can and should respond to a disorderly repricing of risk premia, as reported by Reuters.Key Quotes“We will react to new emergencies with existing and potentially new tools.”“There can be no doubt that, if and when …

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• 14 June 2022 9:35 pm

  US shares surrendered around 3800 as investors await Fed’s decision

  

  US shares continue their rout, losing between 0.26% and 0.56%, except for the heavy tech Nasdaq Composite, which pares some of its losses, up by 0.25%.In terms of sector specifics, the leading gainers are Energy, up 1.9%, propelled by high oil prices, followed by Technology and Consumer Discretionary, each recording …

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• 14 June 2022 8:57 pm

  EUR/USD erases gains as US equities turn red

  

  The EUR/USD continue to pull back after the beginning of the US session and it is hovering around 1.0410, slight above Monday’s close. Earlier on Tuesday, the pair peaked at 1.0485 but then lost momentum as Wall Street turned to the downside and as US yields hit fresh highs.After a …

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• 14 June 2022 8:29 pm

  AUD/USD slides as investors await Fed’s rate hike

  

  The Australian dollar plunges to fresh four-week lows after news that the Federal Reserve would hike 75 bps in the June meeting, the largest since 1994.The Fed’s move is meant to address the US hot inflation that hit 8.6%, with no signs of abating in the near term. After reaching …

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• 14 June 2022 8:12 pm

  GBP/USD drops below 1.2000 for the first time since March 2020

  

  The GBP/USD pair hit levels under 1.2000 for the first time since March 2020. The pound remains under pressure even as market participants and traders expect a rate hike from the Bank of England on Thursday.The pound weakened earlier on Tuesday following UK employment data. Brexit concerns and also the …

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• 14 June 2022 7:50 pm

  EUR/GBP hits highest level in a year

  

  The EUR/GBP pair has broken multi-day range and jumped to 0.8681, hitting the highest level since May 2021; rising almost a hundred pips on Tuesday, and surging for the third day in a row. The Euro is also rising versus the Swiss franc on Tuesday. EUR/CHF climbed above 1.0420 reaching …

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• 14 June 2022 7:21 pm

  Fed Decision Preview: Forecasts by twelve major banks

  

  The US central bank will announce its monetary policy decision on Wednesday, June 15. As markets get closer to the release time, twelve major banks published their forcasts. The Federal Reserve is the world’s most powerful central bank and is expected to go off-script through hiking rate by up to …

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• 14 June 2022 6:04 pm

  US bond yields paring gains

  

  US Treasury yields fell on Tuesday, paring part of the substantial gains made in the previous session, as investors assessed the possibility of the Federal Reserve taking a more aggressive step in its fight to bring down inflation. The annual pace of inflation in the US rose to 8.6% in …

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• 14 June 2022 5:40 pm

  OPEC sticks to its expectations that demand for oil will exceed pre-pandemic levels this year

  

  OPEC maintained its forecast that global oil demand will exceed pre-coronavirus levels in 2022, but said that the Russian invasion of Ukraine and pandemic developments pose a significant risk. In a monthly report released on Tuesday, the Organization of the Petroleum Exporting Countries stuck to its forecast that global oil …

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• 14 June 2022 4:35 pm

  Reuters: OPEC expects global oil demand growth to slow in 2023

  

  Global oil demand growth will slow in 2023 as higher crude and fuel prices push up inflation and slow the global economy, delegates from OPEC and industry sources said. Fuel use has rebounded after falling due to the coronavirus pandemic in 2020 and is on track to surpass 2019 levels …

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• 14 June 2022 3:20 pm

  Reuters poll: SNB to hold fire this week, a 25 bps September rate hike likely

  

  A majority of the economists polled by Reuters revealed on Tuesday, the Swiss National Bank (SNB) is unlikely to change its negative interest rate policy this Thursday even as the country’s inflation rate remains at a 14-year high. “Twenty-four of 26 economists expect the SNB to keep its policy rate …

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