Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 24 June 2022 8:04 pm

  UOM Consumer Sentiment Touches Record Low

  

  The University of Michigan’s Consumer Sentiment Index declined to 50 in June’s final reading from 50.2 in the flash estimate. This marked the lowest print on record.Further details of the survey revealed that the Current Conditions Index dropped to 53.8 in June from 63.3 in May and the Consumer Expectations …

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• 24 June 2022 7:13 pm

  What New Home Sales Tell About US Economy

  

  New Home Sales in the US rebounded sharply in May. The data published by the US Census Bureau showed on Friday that New Home Sales in the US rose by 10.7% in May to a seasonally-adjusted rate of 696,000 following April’s shrinkage of 12% (revised from -16.6%). “The median sales …

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• 24 June 2022 3:59 pm

  Oil rises more than a dollar but is heading to decline for the second week

  

  Oil prices rose by more than $1 a barrel on Friday, boosted by tight supply, although crude is heading lower for a second week amid concerns that higher interest rates could push the global economy into recession. On Thursday, Federal Reserve Chairman Jerome Powell said the Fed’s focus on curbing …

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• 24 June 2022 2:41 pm

  UK Retail Sales drop 0.5% MoM in May

  

  The UK retail sales arrived at -0.5% over the month in May vs. -0.7% expected and 1.4% previous. The core retail sales, stripping the auto motor fuel sales, stood at -0.7% MoM vs. -1.0% expected and 1.4% previous. On an annualized basis, the UK retail sales plunged 4.7% in May …

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• 24 June 2022 1:31 pm

  German IFO Business Climate Index drops to 92.3 in June

  

  The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month’s 93.0 and the consensus estimates of 92.9. Meanwhile, the Current Economic Assessment eased to 99.3 points in the reported month as compared to May’s 99.5 and 99.1 anticipated. The IFO Expectations Index – indicating firms’ projections …

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• 24 June 2022 1:28 pm

  Dollar stumbles on interest rate fears

  

  The US dollar fell against major currencies on Friday, on track for its first weekly loss this month, as investors continue to assess Federal Reserve policy and whether large interest rate increases will lead to a recession. The safe-haven US currency also lost support amid improving market sentiment, rising regional …

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• 24 June 2022 1:26 pm

  European shares rise, supported by utilities at the end of a turbulent week

  

  European shares rose on Friday, boosted by the utilities and healthcare sectors after hitting their lowest level in 2022, as investors turned to safer bets amid growing fears of tight monetary policies and rising inflation that could result in a global recession. At the end of a week that witnessed …

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• 24 June 2022 12:25 pm

  Japan shares rise, supported by the technology sector

  

  Japanese stocks rose on Friday, with the technology sector leading the gains following big gains on Wall Street in the evening, and sentiment was supported by the Bank of Japan’s accommodative monetary policies. The Nikkei index rose 1.23 percent to 2,6419.97 points at the close. The index achieved a weekly …

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• 24 June 2022 11:33 am

  Cisco, Nike quit Russia, as pace of Western firms leaving speeds up

  

  US companies Cisco Systems and Nike told Reuters on Thursday that they will exit the Russian market entirely, as the pace of Western companies’ exit from Russia accelerates after its invasion of Ukraine in February. Cisco, the maker of telecom equipment, said it was ending its business in Russia and …

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• 24 June 2022 11:27 am

  Gold is heading for its second weekly loss on fears of a hike

  

  Gold prices stabilized on Friday, but they are heading to record the second weekly decline in a row, as the demand for the yellow metal was affected by fears that the major central banks might raise interest rates significantly to confront hyperinflation. And gold rose in immediate transactions 0.1 percent …

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• 24 June 2022 11:25 am

  Oil moves in a narrow range on fears of slowing demand and supply uncertainty

  

  On Friday, oil prices moved in a narrow range after briefly rising around $1 a barrel, as the market weighed fears of slowing demand due to lower economic activity in the United States and uncertainty surrounding supplies. Brent crude futures fell five cents, or 0.1 percent, to $110 a barrel …

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• 24 June 2022 2:45 am

  Market Drivers – US Session – Thursday, June 23

  

  Recession-linked Fears are supporting the US dollar, which ended the day with gains. The focus remained on hot inflation and potential recessions among major world economies.Economic Data The EU flash S&P Global PMIs for June painted a gloomy picture as EU economic activity hit a 16-month low, reflecting a stalling …

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• 24 June 2022 1:50 am

  Gold futures retreat on stronger US dollar

  

  Gold futures closed lower on Thursday, with prices for the precious metal down a fourth straight session. Losses for gold are “mainly due to the strength in the dollar, as the US Fed is expected to adopt even more hawkish monetary policyIn testimony before the House Financial Services Committee Thursday, …

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