{"id":67677,"date":"2022-06-25T04:41:00","date_gmt":"2022-06-25T00:41:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=67677"},"modified":"2022-06-25T04:42:56","modified_gmt":"2022-06-25T00:42:56","slug":"market-drivers-us-session-friday-june-24","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-friday-june-24\/06\/25\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 Friday, June 24"},"content":{"rendered":"\n

Risk appetite improved during the US session. US shares rallied and closed with robust gains after retreating to bear market levels, meaning losses of 20% or more from all-time-highs.

Gold continues for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year T-yields and the weaker US dollar account for the latest advance. So far, the Gold Index bounces off weekly lows near $1816, recovering some ground in the week, reclaiming above the $1825 mark.

Economic Data
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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\u2019s shrinkage of 12% (revised from -16.6%).

The UoM\u2019s Consumer Sentiment Index declined to 50 in June\u2019s final reading from 50.2 in the flash estimate. This marked the lowest print on record. The data revealed that the Current Conditions Index dropped to 53.8 in June from 63.3 in May and the Consumer Expectations Index fell to 47.5 from 55.2. The five-year inflation expectations got revised lower to 3.1% from the preliminary estimate of 3.3%. The US dollar remained under pressure after this data and the US Dollar Index was last seen losing 0.3% on the day at 104.08.

US recession concerns declined on US economic data, showing that consumer inflation expectations lowered from a 14-year high.

Other Developments
<\/strong>
WTI oil regained momentum and bounced around $3 on Friday, on revived supply concerns on production shutdown in OPEC member Libya, due to geopolitical unrest. Brent crude settled up $3.07, or 2.8%, at $113.12 a barrel. US West Texas Intermediate (WTI) crude settled up $3.35, or 3.2%, at $107.62.

Leaders of the Group of 7 industrial nations will meet in Madrid on Sunday to discuss new plans to further tighten the screws on Russia\u2019s economy.

Also Read
<\/strong>Country By Country Inflation Rate Vs Rate Hikes<\/a><\/p>\n\n\n\n

Western Allies Face Frustration Over Russia Sanctions<\/a><\/p>\n\n\n\n

USD\/CHF remains negative for whole week<\/a><\/p>\n\n\n\n

Fed\u2019s Daly supports another big interest rate hike<\/a><\/p>\n\n\n\n

Gold Advances to $1826 from weekly lows<\/a><\/p>\n\n\n\n

AUD\/USD touches two-day highs on weaker US dollar<\/a><\/p>\n\n\n\n

US shares benefit from positive sentiment<\/a><\/p>\n\n\n\n

USD\/CAD Dragged Downwards On Better Sentiment<\/a><\/p>\n\n\n\n

UOM Consumer Sentiment Touches Record Low<\/a><\/p>\n\n\n\n

What New Home Sales Tell About US Economy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Risk appetite improved during the US session. US shares rallied and closed with robust gains after retreating to bear market levels, meaning losses of 20% or more from all-time-highs. Gold continues for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year T-yields and the weaker US dollar account for …<\/p>\n","protected":false},"author":13,"featured_media":52794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,40,39,36],"tags":[7273,6874,6936,8439],"class_list":["post-67677","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-cryptocurrencies","category-global-stock-markets","category-market-updates","tag-g7","tag-gold","tag-oil-prices","tag-us-equities"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=67677"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67677\/revisions"}],"predecessor-version":[{"id":67684,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67677\/revisions\/67684"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52794"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=67677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=67677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=67677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}