Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 1 July 2022 9:19 pm

  Wells Fargo: June’s ISM Manufacturing Data consistent with slower activity pace

  

  Data released on Friday showed the ISM Manufacturing PMI dropped more than expected in June to 53, the lowest level in two years. According to Wells Fargo’a analysts the details of the report demonstrate slower activity in the manufacturing sector, but also that supply problems continue to ease, but only …

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• 1 July 2022 8:03 pm

  Gold rebounds above $1800 as US yields tumble

  

  Gold prices are trimming daily losses as the dollar soars on markets’ prevalent risk aversion. US yields collapse amid fears of a recession.Silver also trimmed losses dragged to the upside by gold. XAG/USD bottomed at $19.38, level not seen since July 2020 and it is trading at $19.75, down 2.60%. …

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• 1 July 2022 7:28 pm

  Bitcoin Loses Aggregate 56% In Second Quarter

  

  Bitcoin price has finished the first half of 2022 and things prospects do not seem good. With record negative returns, BTC is likely to continue falling heading lower, particularly if one particular support level happens to be breached. Bitcoin price crashed by 56% in the second quarter, making it the …

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• 1 July 2022 6:06 pm

  US ISM Manufacturing PMI Falls Below Expectations

  

  The business activity in the US manufacturing sector expanded at a much softer pace in June than it did in May with the ISM Manufacturing PMI dropping to 53 from 56.1. This print came in weaker than the market expectation of 54.9.Further details of the publication showed that Employment Index …

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• 1 July 2022 5:18 pm

  Survey: OPEC oil production fails again to achieve the target in June

  

  A Reuters survey showed on Friday that OPEC did not commit in June to the oil production increase it pledged under an agreement with allies, as involuntary declines in Libya and Nigeria erased the impact of supply increases by Saudi Arabia and other major producers. The survey found that the …

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• 1 July 2022 3:52 pm

  US stock index futures drop significantly ahead of the opening

  

  The futures contracts of US stock indices fell on Friday, coinciding with the continuing concerns about the tightening of the US monetary policy, and the reinforcement of fears of a recession in the US economy. The futures contracts for the Dow Jones rose by 0.23% and settled at the level …

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• 1 July 2022 2:27 pm

  Eurozone Preliminary Inflation soars 8.6%

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) surged by 8.6% in June vs. the previous reading of 8.1%, the latest data published by Eurostat showed on Friday. The market expected the bloc’s inflation to accelerate by 8.4%. The core figures dropped to 3.7% YoY in June when compared …

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• 1 July 2022 1:29 pm

  European shares fall ahead of inflation data

  

  European shares fell on Friday, as semiconductor shares led the decline after tepid expectations from US chip maker Micron, while investors awaited euro zone inflation data to build their expectations about the pace of interest rate hikes. Dutch semiconductor equipment company ASML, French-Italian chip maker ST Microelectronics and German chip …

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• 1 July 2022 1:28 pm

  Gold falls below the $1800 level

  

  Gold prices fell below the $1,800 level on Friday, July 1, and the precious metal is heading for its third consecutive weekly loss, as the tight monetary policies of major central banks and the rising US dollar reduced its attractiveness. And gold fell in spot transactions 0.5% to $ 1797.19 …

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• 1 July 2022 12:19 pm

  Japan’s Nikkei closes at its lowest level in two weeks

  

  Japan’s Nikkei fell for a third consecutive session on Friday to close at its lowest level in nearly two weeks, tracking Wall Street’s losses overnight, as investors worried about the economic slowdown in the world’s largest economy. The Nikkei fell 1.73% to 25,935.62 points, its lowest closing level since June …

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• 1 July 2022 3:09 am

  Market Drivers – US Session – Thursday, July 1, 2022

  

  The US Dollar Index extended above 105.000 but sharply retreated together with the Japanese Yen regrouping as yields dropped. The dollar rally remains largely intact, given accelerating concerns about a global recession, although data on Thursday was not positive and did very little to ease concerns about the US economy’s …

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• 1 July 2022 2:48 am

  Gold Hovers Around $1800 Ahead Of US ISM PMI Data

  

  Gold trades at $1820 per ounce, but the price is likely to retreat below $1,800.00 as a reaction to traders and markets’ bet on a 75 bps rate hike by the Fed in July’s FOMC meeting.The Gold Index is establishing below $1,810.00 after facing a steep fall while attempting a …

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• 1 July 2022 1:10 am

  ISM Manufacturing PMI Preview:

  

  US ISM Manufacturing PMI is expected to indicate slower growth in June. The inflation component is critical and low expectations may lead to an upside surprise. The US ISM Manufacturing Purchasing Managers’ Index (PMI) provides an understanding of the jobs-related data. PMI reading on Friday, July 1, is expected to …

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