Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 1 March 2022 5:20 pm

  The Saudi Cabinet Says it Supports The OPEC+ Agreement

  

  A statement by the Saudi Cabinet on Tuesday renewed the kingdom’s support for the OPEC + agreement, which provides for an increase in the supply of crude exporters from the Organization and allied producers by 400,000 barrels per day each month. And the official Saudi Press Agency quoted a statement …

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• 1 March 2022 4:40 pm

  Bank of Canada Rate Decision Preview

  

  This Wednesday at 1500 GMT, the BOC is expected to raise its benchmark interest rate to 0.50% from 0.25% (an all-time low) for the first time since October 2018. There is no press conference following the March meeting. At its January meeting, the central bank left the key rate unchanged …

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• 1 March 2022 4:06 pm

  Palladium And Gold Jump on The Ukrainian Crisis

  

  Palladium jumped on Tuesday on concerns that Western sanctions against Russia over its invasion of Ukraine could damage supplies, as the conflict also sent safe-haven gold prices higher. By 1043 GMT, palladium rose 3.6 percent to $2,577.38. It had reached its highest level since July 2021 at $2,711.18 last week. …

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• 1 March 2022 3:21 pm

  Oil prices jump as supply concerns grow due to The Ukraine Conflict

  

  Oil prices rose on Tuesday as concerns about potential supply disruptions after the Russian invasion of Ukraine and associated sanctions overshadowed talk of a coordinated global drawdown of crude stocks to calm markets. Brent crude futures rose $3.04, or 3.1 percent, to $101.01. The benchmark touched a seven-year high of …

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• 1 March 2022 2:15 pm

  European Bank Shares Continue to be Volatile Affected by The Ukrainian Crisis

  

  Shares in some European banks regained some of their gains on Tuesday after falling this week due to their links to dealings with Russia, but the sector remained volatile as the fighting in Ukraine continued. Shares of Austrian bank Raiffeisen rose 2.7 percent in early trading, partly offsetting a 14 …

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• 1 March 2022 1:14 pm

  Japan And US Finance Ministers Pledge to Incur “Maximum Costs” to Russia

  

  Japanese Finance Minister Shunichi Suzuki said on Tuesday that Japan and the United States had pledged to work together to make Russia “pay a heavy price” for its invasion of Ukraine. In comments he made shortly after his online conversations with US Treasury Secretary Janet Yellen, Suzuki said the two …

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• 1 March 2022 12:13 pm

  Japanese Stocks Rise on Bargain Hunting, Optimism About Russia-Ukraine Talks

  

  Japanese stocks rose on Tuesday, as continued optimism about cease-fire talks between Russia and Ukraine boosted sentiment, prompting investors to buy into retreating shares. The Nikkei index rose 1.2 percent to 26,844.72 points after it crossed the 27,000 level for the first time since February 18. The broader Topix index …

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• 1 March 2022 11:35 am

  Mitsubishi May Stop Production And Sales in Russia

  

  Japanese carmaker Mitsubishi Motors said on Tuesday it may stop producing and selling its cars in Russia, as economic sanctions against Russia could cause supply chain disruptions. Japan on Tuesday joined the United States and other allies in imposing additional sanctions on Russia, which included freezing the assets of the …

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• 1 March 2022 10:45 am

  MasterCard Bans a Number of Russian Financial Institutions From Its Network

  

  It has been another busy holiday season this year with online sales growing 11% year-over-year (YoY) according to the latest Mastercard SpendingPulse market intelligence which focuses on the measurement of in-store and online retail MasterCard said late Monday that it has blocked a number of financial institutions from the MasterCard …

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• 1 March 2022 10:20 am

  Turkey Raises The Price of Natural Gas Used to Produce Electricity

  

  The Turkish natural gas distribution company, BOTAS, said on Tuesday that the price of gas used in the production of electricity rose 18.3 percent, while there was no change in the prices of natural gas used in industrial facilities and homes. Turkey has made sharp increases in energy prices this …

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• 1 March 2022 4:32 am

  Market Drivers – US Session – 28 February

  

  The USD has capitalized on safe-haven flows at the beginning of the week amid escalating geopolitical tensions and sanctions. Over the weekend, Washington and EU allies along with other Western nations decided to exclude some Russian financial institutions from the global payment system, SWIFT.Economic DataThe US economic calendar featured the …

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• 1 March 2022 3:11 am

  NZD/USD Approaching 0.6800 Amid USD Pullback

  

  The NZD/USD pair grinds higher around three-day top, pokes February high. Market sentiment steadily recreases as Russia continues attack on Ukraine, peace talks extended through the week without any clear results.The diplomats assured further talks during this week but Moscow isn’t ready to step back as Russian troops bombard civilian …

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• 1 March 2022 2:53 am

  USD/CAD Eying 1.2600 As Oil Supply Fears Intensify

  

  The USD/CAD has tumbled below 1.2700 amid higher oil prices on an escalation in sanctions on Russia. The Canadian dollar has also been dumped after the safe-haven assets lose their appeal.The USD/CAD pair has shrugged off its gains on Thursday’s trading session and has tumbled below 1.2700 despite the unavailability …

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