Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 12 March 2021 5:35 pm

  J.P Morgan: Continued high Oil Prices Will Stimulate US Production Growth

  

  JP Morgan analysts said in a weekly note that the continued rise in oil prices is expected to stimulate an increase in US crude production this year. The bank now expects US crude oil production to average 11.78 million barrels per day in December 2021, up 710,000 barrels per day …

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• 12 March 2021 5:02 pm

  Industrial Production in The Eurozone Stronger Than Expected in January

  

  The European Union’s statistics office Eurostat said today that industrial production for the Eurozone was much stronger than expected in January and revised up significantly in December, indicating that the new year has begun to improve despite the continuing Covid-19 pandemic. Eurostat said industrial production in the 19-nation Eurozone rose …

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• 12 March 2021 4:09 pm

  Currencies Overview: The Dollar Winning And Risk Currencies Are Losing

  

  The dollar rose today, recovering from losses incurred the previous day, as a strong rise in Treasury yields in the early European session sparked risk aversion moves in global currency markets, while riskier currencies were hit. Market dealers are growing anxious in recent weeks about the possibility of a strong …

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• 12 March 2021 3:04 pm

  Rising Bond Yields Are Putting Pressure on European Stocks

  

  Higher bond yields pushed European stocks lower today, but the main stock exchanges are heading for strong weekly gains as stimulus and immunization campaigns from the Coronavirus raise hopes for a strong economic recovery. The European STOXX 600 index fell 0.4% in early trade, after a series of gains over …

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• 12 March 2021 2:03 pm

  Brent Crude is Falling But Remains Near $70 Supported by Optimistic Demand

  

  Brent crude prices declined today, but hovered near $70 a barrel, as cuts made by major crude producers restrict supplies, while the market is also supported by optimism about the recovery in demand in the second half of the year. Brent crude futures for May delivery fell 33 cents, or …

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• 12 March 2021 1:16 pm

  UK Manufacturing Production Decline in January

  

  The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, suggesting that Britain’s industrial sector is facing a hard time amid the covid-induced lockdowns. Manufacturing output arrived at 2.3% MoM in January versus -0.8% expectations and 0.3% booked in December while total industrial output came in …

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• 12 March 2021 12:59 pm

  Britain’s Economy Contracted Less Than Expected in January

  

  Official data revealed today that Britain’s economy shrank by 2.9% in January compared to December, a less severe pace than expected, as the country again entered into general isolation measures aimed at combating the spread of the Coronavirus. Economists polled by Reuters had expected a contraction of 4.9%. The Bank …

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• 12 March 2021 12:42 pm

  Gold Declining But Heading For The Best Week in 7 Weeks

  

  Gold prices plummeted today as high US revenues and the strength of the dollar imposed pressure on the yellow metal, but it is heading to record its best weekly performance in seven weeks. In spot transactions, gold lost 0.3% to $1716.86 an ounce in Asian trading. The metal fell to …

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• 12 March 2021 12:22 pm

  Japan Shares Closed Higher, Posting 3% Weekly Gain

  

  Japanese stocks rose for the fourth session in a row, as technology stocks rebounded while investor sentiment remained supported by expectations that low-interest rates and large fiscal spending will continue to support global economic growth. The benchmark Nikkei index rose 1.73% to 29,717.83 points. The broader Topix index rose 1.36% …

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• 12 March 2021 3:03 am

  Bitcoin Surges Above $57,000 Nearing its All-Time Record High

  

  Bitcoin rose on Thursday by more than 2%, amid expectations that increased stimulus spending in the United States could help raise demand for the world’s largest cryptocurrency in terms of market capitalization. The digital currency is re-approaching its all-time high of $58,350, which it reached on February 21. Bitcoin is …

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• 12 March 2021 2:56 am

  Biden Signs $1.9 T Relief Bill into Law

  

  The President of the United States, Joe Biden, on Thursday signed the $1.9 trillion relief bill into law, officially ratifying what he originally proposed as the “American Rescue Plan” to help the U.S. economy recover from the impact of the Coronavirus pandemic. After Congress passed the bill, following a long …

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• 12 March 2021 2:37 am

  Wall Street Scores New Record Highs

  

  The benchmark indices of the New York Stock Exchange (NYSE) closed higher on Thursday, with the Dow and S&P ending the session at all-time highs, as Wall Street investors reacted positively to inflation data that eased worries about a possible reflation due to the increase in stimulus spending. Positive jobs …

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• 12 March 2021 2:31 am

  Oil Prices Rise on Improved Demand Outlook

  

  Oil prices rose for the second consecutive session, registering large gains on the back of a weaker U.S. Dollar (USD) and expectations of global demand recovery during the second half of the year. In addition, large draws in U.S. fuel inventories have eased fears of an oversupply, especially with the …

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