Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 15 March 2022 10:35 pm

  Toronto index falls as commodities weigh on energy, material stocks

  

  Canada’s benchmark index extended losses for a third straight session on Tuesday, as weakness in energy and metal prices due to rising COVID-19 cases in China weighed on commodity stocks.The Toronto Stock Exchange’s S&P/TSX composite index was down 161.23 points, or 0.76%, at 21,019.55. The energy and materials sectors fell …

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• 15 March 2022 10:04 pm

  WTI Oil Attempting To Bounce Up From $93.40 Lows

  

  WTI futures pick up to $98.00 from three-week lows at $93.40. Oil prices plunge on easing supply concerns and COVID-19 cases in China. From a wider perspective, US oil futures remain biased lower.The US benchmark crude oil futures are attempting a mild correction on Tuesday’s US trading session. Front-month West …

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• 15 March 2022 9:36 pm

  Worsening Covid Clouds China’s Economic Prospects

  

  Beijing scrambles to contain the worst outbreak China has seen since Wuhan in early 2020, as daily infections surpass 5,000. Lockdowns in coastal cities, including the first imposed on Shenzhen, prompt warning that situation has ‘deteriorated at an alarming pace’, with big economic hit ahead. China faces biggest Covid-19 crisis …

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• 15 March 2022 8:19 pm

  US dollar, Gold Surge On Putin’s Remarks: Kyiv is not serious about a solution

  

  Russia’s President Vladimir V. Putin has said that Kyiv is not serious about finding a mutually acceptable solution.Markets have reacted negatively to the news, with stocks retreating from the highs and the safe-haven dollar and gold rising. Investors have been pinning their hopes on negotiations between Russia and Ukraine, which …

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• 15 March 2022 7:43 pm

  China Shutdown Impacts Commodities

  

  After massive commodity producer Russia was exiled from the world economy, a new shock is emerging from China; the world’s biggest user of raw materials.The big picture for commodities prices is that they turned tail and tumbled yesterday, as China imposed new COVID-related lockdown in response to soaring infection rates.In …

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• 15 March 2022 7:19 pm

  Moscow Imposes Sanctions on Biden, Blinken

  

  Russia’s foreign ministry said, Tuesday, that Russia has decided to impose sanctions on US President Joe Biden and Secretary of State Anthony Blinken.“Russian sanctions also apply to US Defense Minister, National Security Adviser, Chief of CIA and others”. As for the market’s reaction, this development doesn’t seem to be having …

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• 15 March 2022 5:49 pm

  Gold slips on Russia-Ukraine Talks And Rate Hike

  

  Gold extended its decline on Tuesday as ceasefire talks between Russia and Ukraine slashed demand for safe-haven assets, while expectations that the US Federal Reserve would raise interest rates for the first time in three years increased pressure on the yellow metal. And the price of gold in spot transactions …

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• 15 March 2022 5:35 pm

  US Annual PPI Climbs to 10% in February

  

  The Producer Price Index (PPI) for final demand rose to 10% on a yearly basis in February from 9.7% in January, the data published by the US Bureau of Labor Statistics announced on Tuesday. This reading matched the market expectation. Annual Core PPI, which excludes food and energy prices, edged …

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• 15 March 2022 4:27 pm

  Euro Rises on The Hope of Progress in Ukraine Peace Talks

  

  The euro rose on Tuesday on hopes of progress in peace talks between Ukraine and Russia, although risk appetite waned due to the rising number of COVID-19 infections in China. On Tuesday, talks between Ukrainian and Russian negotiators to ease the crisis are expected to resume after video-conference talks after …

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• 15 March 2022 2:58 pm

  German ZEW Economic Sentiment Index slumps to -39.3 in March

  

  The German ZEW headline numbers for March showed that the Economic Sentiment Index deteriorated sharply amid the Russia-Ukraine war, coming in at -39.3 from 54.3 previous while missing estimates of 10.0 by a wide margin. The Eurozone ZEW Economic Sentiment Index tumbled to -38.7 the current month as compared to …

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• 15 March 2022 2:37 pm

  Oil prices fell to their lowest level in two weeks

  

  Oil prices extended losses on Tuesday to a two-week low after ceasefire talks between Russia and Ukraine eased fears of another oil supply disruption, while coronavirus infections in China raised concerns about slowing demand for crude. Brent crude futures were down $5.95, or 5.6 percent, at $100.95 a barrel by …

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• 15 March 2022 1:53 pm

  Binance gets its first Gulf crypto licence in Bahrain

  

  The world’s largest cryptocurrency exchange Binance has been given a crypto-asset service provider licence by Bahrain’s central bank, its first such licence in the Gulf Cooperation Council (GCC), the company and the bank said on Tuesday. “The licence from Bahrain is a milestone in our journey to being fully licensed …

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• 15 March 2022 1:20 pm

  Nikkei rises with strong Chinese economic data

  

  Japan’s Nikkei index closed higher on Tuesday, boosted by strong economic data from neighboring China and its main trading partner, but capped cautious gains ahead of the expected US interest rate hike, the first in three years, due later this month. The market’s performance ranged from small gains to losses …

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