Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 18 March 2022 5:20 pm

  The euro is on its way to the largest weekly rise in 6 weeks

  

  The euro fell on Friday but was on track for its biggest weekly gain in six weeks as traders breathed a sigh of relief after Russia avoided defaulting on dollar-denominated debt and markets digested the broader impact of the start of the US interest rate hike cycle. The euro slipped …

  Read More »
• 18 March 2022 4:49 pm

  Canada: Retail Sales rise by 3.2% in January

  

  Headline Canadian Retail Sales rose at a pace of 3.2% MoM in January, much stronger than the expected 2.4% gain, marking a strong rebound from December’s Omicron Covid-19 variant induced drop of 1.8% MoM, data released by Statistics Canada showed on Friday. Retail Sales excluding autos also saw stronger than …

  Read More »
• 18 March 2022 3:33 pm

  Nickel prices fell 12% on the London Metal Exchange

  

  3-month nickel contracts retraced 12% on Friday morning to new trading levels, as heavy selling continued in the international metals markets. The price reached 36,915 dollars per metric ton with the opening of trading on the London Metal Exchange. Nickel prices doubled within hours on March 8, surpassing $100,000 a …

  Read More »
• 18 March 2022 3:01 pm

  Russian central bank keeps policy rate unchanged at 20%

  

  The Bank of Russia announced on Friday that it left the policy rate unchanged at 20% as expected. “Will take into account actual and expected inflation movements relative to the target and economic developments over the forecast horizon.” “Will take into account risks posed by domestic and external conditions and …

  Read More »
• 18 March 2022 1:44 pm

  European shares set for best weekly performance since November 2020

  

  European shares rose on Friday, extending the strong gains recorded this week, with investors focused on the Russian-Ukrainian peace talks that seem to have made no progress so far. The pan-European Stoxx 600 index rose 0.2 percent by 0814 GMT and was on track for its best weekly performance since …

  Read More »
• 18 March 2022 1:18 pm

  Japan imposes new sanctions on Russian defense officials and arms export company

  

  Japan said it would impose sanctions on 15 individuals and nine Russian organizations, including defense officials and state-owned arms exporter Rosoboronexport. The sanctions, which include asset freezes, are the latest in a series of measures taken by Japan in the wake of Russia’s invasion of Ukraine. Japan has so far …

  Read More »
• 18 March 2022 12:20 pm

  Japan’s Nikkei averages biggest weekly gain in nearly two years

  

  The Japanese Nikkei index ended Friday’s trading on a rise and recorded the largest weekly gain in nearly two years, tracking the impact of Wall Street gains, in light of caution over a five-day rally in local markets. The Nikkei increased 0.65% to close at 2,6827.43 points, and its gains …

  Read More »
• 18 March 2022 11:42 am

  Standard & Poor’s downgrades Russia’s rating to CC

  

  Credit rating agency Standard & Poor’s on Thursday downgraded Russia’s rating to CC from -CCC, as Moscow reported difficulties in meeting debt payments due on dollar-denominated bonds in 2023 and 2043. The rating agency said Russia’s payments problems were caused by international sanctions over the invasion of Ukraine. Sanctions have …

  Read More »
• 18 March 2022 11:05 am

  Oil jumps with little progress in Russia-Ukraine talks

  

  Oil prices continued to rise on Friday at the end of a volatile third week with little progress in peace talks between Russia and Ukraine, raising fears of tighter sanctions and prolonged oil supply disruptions. Russian President Vladimir Putin, in a stern speech on Thursday, denounced “traitors and scum” at …

  Read More »
• 18 March 2022 10:22 am

  China raises fuel prices to their highest level in more than a decade

  

  Retail gasoline prices in China have risen to levels not seen since at least 2006, while diesel prices have risen to their highest level in ten years after the rise in global oil prices in the wake of the Russian invasion of Ukraine. The National Development and Reform Commission said …

  Read More »
• 18 March 2022 3:27 am

  Market Drivers – US Session – 17 March

  

  The US Dollar remained under selling pressure throughout the day, accelerating its slump ahead of the London fix. The USD was affected by persistent weakness in government bond yields following the hawkish Federal Reserve’s announcement on Wednesday.Economic DataWTI crude has climbed near USD 102.00 as IEA renewed fears of supply …

  Read More »
• 18 March 2022 2:48 am

  S&P cuts Russia’s Ratings To ‘CC’ On Debt Default Risk

  

  Global rating agency S&P cut Russia rating to ‘CC’ from CCC- while citing difficulties meeting debt payments due on its dollar-denominated 2023 and 2043 Eurobonds on Thursday.“Russia’s payment difficulties stem from international sanctions that reduced its available foreign exchange reserves and restricted its access to the global financial system, markets …

  Read More »
• 18 March 2022 2:41 am

  WTI Beats USD 100.00 As IEA Restirs Supply Shortage Concerns

  

  WTI crude has climbed near USD 102.00 as IEA renewed fears of supply shortage. The expectation of supply shortage from Russia has already been discounted by investors. The OPEC’s positive response to the urge of US President Joe Biden will fix the demand-supply gap.West Texas Intermediate (WTI), futures on NYMEX, …

  Read More »