Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 4 March 2021 5:52 pm

  US: Weekly Initial Jobless Claims Rise to 745K

  

  There were 745,000 initial claims for unemployment benefits in the US during the week ending February 27, the data published by the US Department of Labor (DOL) showed on Thursday. This reading followed the previous one of 736,000 and came in better expectation of 750,000.

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• 4 March 2021 5:34 pm

  New Car Sales in Britain Fall in February

  

  Preliminary data from the Union and distributors of automotive manufacturers in Britain showed that new car registrations fell by about 36% in February on an annual basis as forced public isolation procedures imposed anti-covid-19. The union noted that the volumes sold are at their lowest level in February since 1959. …

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• 4 March 2021 5:30 pm

  US: Challenger Job Cuts Drop to 34,531 in February

  

  Planned job cuts in the US-based employers dropped to 34,531 in February from 79,552 in January, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

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• 4 March 2021 4:40 pm

  Oil Extends Gains Thanks to The Possibility of OPEC+ Sticking to Cutting Supplies

  

  Oil prices rose for the second session in a row on Thursday, March 4, as they received support from the possibility of OPEC+ producers taking a decision against increasing production at an important meeting to be held later today, along with the decline in the US fuel stocks. Brent crude …

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• 4 March 2021 3:24 pm

  FAO: The World Food Price Index Rose For The Ninth Month in a Row

  

  The Food and Agriculture Organization of the United Nations (FAO) said that global food prices rose for the ninth consecutive month in February, reaching their highest levels since July 2014, led by jumps in the prices of sugar and vegetable oils. The FAO Food Price Index, which measures monthly changes …

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• 4 March 2021 3:23 pm

  Eurozone Retail Sales Decline in January

  

  The data published by Eurostat showed on Thursday that Retail Sales in the euro area contracted by 5.9% on a monthly basis in January. This reading followed December’s increase of 1.8% and fell short of the market expectation for a decline of 1.1%. On a yearly basis, Retail Sales fell …

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• 4 March 2021 2:50 pm

  The Turkish Lira is Slipping Towards Its Lowest Level Since The Beginning of 2021

  

  The Turkish lira weakened on Thursday (March 4th) and reached a level of 7.5 for the first time since January 18, under pressure from global concerns about rising US Treasury yields and concern over rising inflation in Turkey. The Turkish lira fell against the dollar to 7.5145 compared to 7.4550 …

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• 4 March 2021 1:50 pm

  Gold Prices Are Rising From The Lowest Level in Nine Months

  

  Gold prices rose Thursday, March 4th, recovering from the lowest level in nearly nine months recorded in the last session, but the US Treasury bond yields that are rising continued to put pressure on the yellow metal, which does not yield a return. Spot gold rose 0.5% to $1719.21, after …

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• 4 March 2021 1:13 pm

  Currencies Overview: The US Dollar Consolidates Before The US Federal Reserve’s Speech

  

  The dollar reached its highest level against the yen in 7 months today, Thursday, as it received support from a more regular rise in US Treasury yields ahead of a speech by Jerome Powell, the head of the US Federal Reserve, that may determine the direction the global currency and …

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• 4 March 2021 10:38 am

  Oil prices rise more than 2%, supported by a significant decrease in US inventories

  

  Oil prices rose more than 2% on Wednesday, supported by a significant drop in US fuel inventories and expectations that OPEC + producers may take a decision against increasing production when they meet this week. US gasoline stocks fell last week by the most on record, and refining production fell …

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• 4 March 2021 2:49 am

  Fed’s Beige Book Highlights Modest Growth as Economy Recovers from Pandemic

  

  The United States Federal Reserve’s Beige Book for February 2021 showed that overall economic activity expanded modestly from January to mid-February for most districts, which reflected in improved business confidence, as most businesses remain optimistic regarding the next 6-12 months. The optimism is driven by the rollout of Coronavirus vaccines, …

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• 4 March 2021 2:29 am

  Oil Rises with OPEC+ Expected to Extend Output Cuts

  

  Oil prices rose on Wednesday, despite the strong surge in crude inventories in the United States, supported by expectations that OPEC+ could be extending output cuts until the end of April. Recent reports suggested that the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form an …

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• 4 March 2021 1:56 am

  Gold Returns to Losses as Treasury Yields Rise

  

  Gold prices declined on Wednesday, closing at their lowest level in about nine months, amid the rise of Treasury yields and the U.S. Dollar (USD). The yellow metal futures for April delivery closed lower by $17.80, or 1%, at the level of $1,715.80 per ounce. This is the lowest finishing level …

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