Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 13 July 2022 1:27 pm

  IEA says oil market walking tightrope due to supply risks

  

  The International Energy Agency said on Wednesday that the global oil market was walking a “tightrope” between a supply shortage and a possible economic recession, with demand already affected by higher prices and deteriorating economic conditions. Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook …

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• 13 July 2022 1:08 pm

  China’s June exports grow at fastest rate in 5 months

  

  China’s exports grew at the fastest rate in 5 months in June, exceeding analysts’ expectations, confirming that China, the world’s second largest economy, is slowly recovering from the effects of the restrictions it imposed to contain the Corona virus pandemic. But imports grew at a slower rate that did not …

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• 13 July 2022 12:17 pm

  Turkey’s inflationary pressures would continue due to domestic, global factors

  

  Turkish unemployment data was released this morning, and the number of unemployed people in Turkey reached 3 million 785 thousand people, and the unemployment rate reached 10.9%. According to the data announced by TUIK today, the number of official unemployed people across the country decreased by 56 thousand in May …

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• 13 July 2022 11:26 am

  Gold stabilizes as investors await indications from US inflation data

  

  Gold prices settled near their lowest levels in more than nine months on Wednesday, as investors awaited US inflation data for indications of the Federal Reserve’s monetary policy stance. And gold settled in spot transactions at $ 1725.83 an ounce by 0543 GMT, after falling to its lowest level since …

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• 13 July 2022 10:43 am

  UK Manufacturing Production rises 1.4% MoM in May

  

  The UK’s industrial sector recovery gathered steam in May, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Wednesday. Manufacturing output arrived at 1.4% MoM in May versus 0.1% expectations and -0.6% booked in April while total industrial output came in at 0.9% …

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• 13 July 2022 10:15 am

  Libya’s NOC lifts force majeure on the Brega and Zueitina ports

  

  The National Oil Corporation of Libya announced in a statement on Wednesday the lifting of force majeure and the resumption of exports from the Brega and Zueitina ports. The statement stated that a team of specialists from the Corporation is negotiating to allow the tankers to enter the ports of …

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• 13 July 2022 5:28 am

  Market Drivers – US Session – Tuesday, July 12

  

  The White House memo (noting that US macroeconomic data, including the June jobs report, are not consistent with a recession) was a good attempt to improve market sentiment. The document added that “labour market strength puts the US in a better position than many other countries to transition to lower …

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• 13 July 2022 5:05 am

  WTI crude retreats around $90.00 on recession-linked concerns

  

  Oil prices are expected to slip towards $90.00 due accelerating global recession-linked fears. Lockdown in China and interest rate hikes by Western central banks have also trimmed oil price forecasts.WTI futures have displayed a steep downside after surrendering the psychological support of 100.00 last week. Crude oil recorded three-month low …

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• 13 July 2022 3:23 am

  GBP/USD faces barrier on UK political crisis

  

  The GBP/USD pair has encountered selling pressure after attempting to sustain above the crucial level of 1.1900 which is a steep fall after surrendering the weekly support at 1.1876 and printed fresh weekly support at 1.1807. On the UK front, ongoing political crisis after the announcement of resignation by current …

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• 13 July 2022 2:29 am

  Crypto Assets Drop As Markets Close Choppy Day

  

  Bitcoin was trading under $20,000 again after June’s ups and downs. Bitcoin’s move below $20,000 was not as critical as it was last month but developments in the crypto space are still certainly noteworthy as it repeatedly dipped below $20,000.Major crypto assets continued falling on Tuesday amid a choppy market. …

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• 13 July 2022 2:07 am

  US shares slide ahead of corporate earnings reports

  

  Shares shed early gains and ended broadly lower on Wall Street Tuesday as investors brace for a big week of news on inflation and company earnings reports. The S&P 500 retreated by 0.9%, extending its losing to a third consecutive day. All of the benchmark index’s 11 company sectors closed …

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• 13 July 2022 1:33 am

  IMF cuts US GDP growth projection for 2022 to 2.3%

  

  The International Monetary Fund has cut the US 2022 growth projection to 2.3% from 2.9% in late June, due to revised US data.Key RemarksIMF cuts US 2022 GDP growth projection to 2.3% from 2.9% in late June, due to revised US data.IMF cuts US 2023 GDP growth projection to 1.0% …

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• 13 July 2022 12:43 am

  As USD retreats, EUR/USD steadies at the brink of parity

  

  The EUR/USD pair bounces off fresh 20-year lows around the parity area, trimming some of Monday’s losses, as market sentiment wobbles, reflected by US equities fluctuating between gainers and losers, ahead of the US June Consumer Price Index (CPI) to be released on Wednesday.The EUR/USD is trading at 1.0052 after …

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