Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2022

• 8 June 2022 1:49 am

  New US Draft Law classifies digital assets as commodities

  

  A widely anticipated crypto regulation was unveiled on Tuesday. The draft law provides some long awaited clarity for crypto markets and provided definitions for most digital assets as commodities, giving most of the oversight to the Commodity Futures Trading Commission.Known as the Responsible Financial Innovation Act, the draft law was …

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• 8 June 2022 1:14 am

  EUR/USD climbs to 1.0700 of the ECB policy decision

  

  EUR/USD climbs to 1.0700 of the ECB policy decision The EUR/USD has pared some of Monday’s losses and is now testing the 50-day moving average to the upside on Tuesday during the North American session. At 1.0709, the EUR/USD pair exchanges hands on top of the previously-mentioned DMA at the …

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• 8 June 2022 12:03 am

  AUD/JPY running into monthly resistance

  

  The AUD/JPY pair is running into monthly resistance but prior highs near 102.80 will be eyed if the bulls stay within the current course. The yen is suffering a central bank deviation blow and a potential course shift. While investors worry over decades-high inflation, the Bank of Japan has decided …

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• 7 June 2022 11:14 pm

  Gold Trapped Below Critical Resistance

  

  At $1,850.06, the gold price is 0.45% higher and trading between a low of $1,837.06 and a high of $1,853.63 on the day so far. The markets are fairly volatile as traders weigh the indecisive outlook for global growth, the latest of which comes from the World Bank.”Global economic growth …

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• 7 June 2022 10:40 pm

  Sec. Yellen to senators: US faces “unacceptable levels of inflation”

  

  The United States faces “unacceptable levels of inflation” and an appropriate budgetary stance is needed to help dampen inflationary pressures without undermining the economy, Treasury Sec. Janet Yellen told senators on Tuesday.At a Senate Finance Committee hearing, Yellen pushed back against Republican assertions that the highest inflation in 40 years …

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• 7 June 2022 10:01 pm

  Wall Street slides as inflation data eyed

  

  US stock indexes slipped in mixed trading on Tuesday as investors digested Target Corp’s gloomy margin forecast that spooked the retail sector, while awaiting inflation data due later this week.Target’s shares slid 4.3% as the big-box retailer said it would have to offer deeper discounts and cut back on stocking …

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• 7 June 2022 9:35 pm

  GBP/USD touch fresh high amid UK political confusion

  

  The GBP/USD pair has managed to remain positive on the week, up by 0.82%. The UK Prime Minister Boris Johnson won a no-confidence vote, and the GBP positively reacted to this piece of political news.The sterling climbs for the second straight day amid two days of a volatile trading session …

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• 7 June 2022 8:51 pm

  Stubborn Inflation Drags Sec. Yellen To Spotlight

  

  The US Treasury secretary’s latest remarks about surging prices put the Biden administration in a defensive stance. At her previous hearing in 2021, Treasury Sec. Janet Yellen told the congress that it was time to “act big” on a pandemic relief package, in her attempt to downplay the then prevalent …

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• 7 June 2022 8:03 pm

  USD/CAD slides below 1.2565

  

  The US dollar turns negative amid improved risk sentiment, its Canadian counterpart is the top performer among commodity-linked currencies. The USD/CAD pair is heading for the lowest close since April 20.The USD/CAD is falling on Tuesday and recently hit a fresh daily low at 1.2539. A weaker US dollar pushed …

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• 7 June 2022 7:19 pm

  WTI Crude Rebounds From $118 to near $120

  

  The American WTI crude oil has rebounded from session lows under $118 to closer to $120 despite a risk-off Wall Street open. Several topics are cited as supporting oil prices and encouraging dip-buying. Oil prices have rebounded in recent trade despite a relatively risk-off open on Wall Street after major …

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• 7 June 2022 5:26 pm

  Oil is stable as the market balances risk appetite and tight supplies

  

  Oil prices stabilized on Tuesday as the market weighed risk appetite, concerns over supply, and the prospect of increased demand as China eases its restrictions on the spread of the coronavirus. Brent crude futures were down 44 cents, or 0.3 percent, at $119.07 a barrel by 1209 GMT. US West …

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• 7 June 2022 4:53 pm

  US: Goods and Services Trade deficit shrinks to $87.1B in April

  

  According to the latest data from the Bureau of Economic Analysis and US Census Bureau, the US Goods and Services Trade deficit shrunk to $87.1B in April. That was a little smaller than the expected decrease to $89.5B from $109.80B in March. The Goods trade deficit was $107.74B in April …

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• 7 June 2022 4:12 pm

  Gold rises with growing economic concerns

  

  Gold prices rose on Tuesday as investors feared the repercussions of central banks’ plans to tighten monetary policy, but rising US bond yields, which supported the dollar, limited the gains. The price of gold increased 0.2 percent in spot trading, recording $1845.20 an ounce by 0842 GMT, recovering after touching …

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