Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 3 March 2022 10:20 pm

  USD/CAD Rebounds As WTI Oil Pulls Back From Yearly Highs

  

  USD/CAD is currently trying to settle back above 1.2680, while the US dollar is gaining ground against a broad basket of currencies.The US Dollar Index is testing the resistance level at 97.75. If this test is successful, the US Dollar Index will move towards the next resistance at 98, which …

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• 3 March 2022 10:03 pm

  3 Charts Explain Gold, Bitcoin Performance Since Russo-Ukrainian War Outbreak

  

  Russia’s invasion of Ukraine has undoubtedly had a major influence on major financial markets, as some assets benefited and climbed strongly, while others incurred heavy losses. Bitcoin and gold have had the lion’s share of benefits as investors rush to hedge against the consequences of war.After initially falling to around …

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• 3 March 2022 9:15 pm

  Macklem: QT natural next step after BoC’s rate hike

  

  Bank of Canada Governor Tiff Macklem said on Thursday that the decision to hike interest rates means ending reinvestments and moving towards Quantitative Tightening (QT) as “a natural next step”.The timing and pace of QT will be fully transparent, Macklem added, saying that when we initiate quantitative tightening, we do …

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• 3 March 2022 7:37 pm

  Powell: There will be upward pressure on inflation for a while

  

  Federal Reserve Chairman Jerome Powell, in the second day of his semi-annual testimony before the US Congress, said that the rise in energy prices will work its way through to the US economy and there will subsequently be upwards pressure on inflation for a while. Key Quotes:“We could see people …

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• 3 March 2022 7:15 pm

  US: February’s ISM Services PMI Falls Below Expectation

  

  The headline ISM Services PMI figure slid to 56.5 in February from 59.9 in January, below the expected rise to 61.0, according to the latest release by the Institute for Supply Management.Economic activity in the services sector grew in February for the 21st month in a row, with the Services …

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• 3 March 2022 4:41 pm

  Europe Can Reduce Gas Imports From Russia by More Than a Third in a Year

  

  The International Energy Agency said on Thursday that Europe could reduce the import of Russian gas by more than a third within a year, and the agency announced a 10-point plan to reduce the European Union’s dependence on Russian gas. “Nobody is under any illusions anymore. Russia’s use of its …

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• 3 March 2022 3:21 pm

  Oil at Its Highest Level in Years as US Sanctions Target Russian Refiners

  

  Oil prices continued their rally on Thursday, with Brent crude heading towards $120 a barrel, its highest level in nearly a decade, due to US sanctions on Russian refiners, shipping disruptions, and a drop in US crude stocks to their lowest level in years. Brent crude futures prices rose to …

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• 3 March 2022 2:25 pm

  Gold is Consolidating Affected by The Ukraine Crisis

  

  Gold prices firmed on Thursday as investors remained cautious about the conflict between Russia and Ukraine, which also boosted demand for the safe-haven precious metal, while supply fears pushed palladium to a seven-month high. Gold prices consolidated in spot transactions at $1926.10 an ounce. US gold futures rose 0.4 percent …

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• 3 March 2022 1:47 pm

  UK Final Services PMI Revised Down to 60.5 in February

  

  The UK services sector activity expanded less than expected in February, the final report from IHS Markit confirmed this Thursday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 60.5 in February versus 60.8 expected and a 60.8 – last month’s flash reading.

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• 3 March 2022 1:17 pm

  US Strategic Petroleum Reserve at The Lowest Level Since 2002

  

  A US Energy Information Administration report said on Wednesday that the US Strategic Crude Oil Reserve fell 2.4 million barrels last week to 580 million barrels, its lowest level since August 2002. At the crude delivery and storage center in Cushing, Oklahoma, stocks fell by 972,000 barrels last week to …

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• 3 March 2022 12:09 pm

  The European Union Excludes 7 Russian Banks From SWIFT

  

  The European Union has removed seven Russian banks from the Swift messaging system that supports global transactions as part of its sanctions against Russia over its invasion of Ukraine, the Official Gazette of the European Union said on Wednesday. The banks, which will be given 10 days to phase out …

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• 3 March 2022 11:37 am

  Oil Exceeds $110 a Barrel, With Few Alternatives For Russian Supplies

  

  Oil prices jumped above $110 a barrel on Wednesday, extending their rally since Russia invaded Ukraine seven days ago, amid expectations that the market will remain in short supply for months following the imposition of tough sanctions on Moscow and the mass exodus of major companies’ investments in Russian oil …

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• 3 March 2022 11:00 am

  The World Bank is suspending all programs in Russia and Belarus

  

  The World Bank on Wednesday announced the suspension of all programs in Russia and Belarus with immediate effect in the wake of Russia’s invasion of Ukraine and “hostilities against the people of Ukraine.” The multilateral development bank said it had not approved any new loans or investments in Russia since …

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