Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 2 March 2021 9:06 pm

  CAD Rises Despite Declining Oil Prices on USD Losses

  

  The Canadian Dollar (CAD) rose against its U.S. counterpart despite the decline of crude oil prices, after data showed that Canada’s real Gross Domestic Product (GDP) expanded by 0.1% in December, which came below market expectations. Figures published by Statistics Canada showed on Tuesday that the November reading was revised …

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• 2 March 2021 8:27 pm

  USD Declines as Treasury Yields Maintain Downward Trend

  

  The U.S. Dollar (USD) gave up all of the gains that it recorded earlier today during the European session and turned to the negative territory earlier in the American session as U.S. Treasury yields continued to decrease from its record levels. The Dollar Index (DXY), which measures the greenback’s performance …

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• 2 March 2021 7:59 pm

  ISM-New York Business Conditions Index at Nine-Month Low

  

  The ISM-New York current business conditions index decreased by 15.7 points to a nine-month low of 35.5 in February, according to the ISM-New York Monthly Report on Business. This reading showed a decline from the January level of 51.2, a level that represented a loss of 10.1 points. The Six-Month …

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• 2 March 2021 7:00 pm

  Monthly PPI in Brazil at Second Highest Level since 2014

  

  The producer price index (PPI) in Brazil registered its second highest increase on record since 2014, according to official data by IBGE released on Tuesday. The PPI increased by 3.36% in January compared with its level in December 2020. It is worth noting that the highest level for the index …

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• 2 March 2021 5:44 pm

  Canada: Real GDP Expands by 0.1% in December

  

  Canada’s Real Gross Domestic Product (GDP) expanded by 0.1% in December, the data published by Statistics Canada showed on Tuesday. This reading came in weaker than the market expectation of 0.3%. On a positive note, November’s reading got revised up to 0.8% from 0.7%.

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• 2 March 2021 5:14 pm

  Turkey’s Trade Deficit Increased by 10.7% in February

  

  Trade Ministry data showed that Turkey’s trade deficit amounted to $3.36 billion in February, an increase of 10.7% over the previous year, while exports jumped 9.6%, hitting a record high on a monthly basis. Exports increased to $16.012 billion last month, while imports increased 9.8% to $19.37 billion, according to …

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• 2 March 2021 4:42 pm

  Germany: Unemployment Rate Rises Surprisingly in February

  

  The unemployment rate in Germany rose during the month of February for the first time since last June, according to data released today, Tuesday, which dashed expectations of a decrease in the number of measures aimed at curbing the Coronavirus. For its part, the Labor Office said that the number …

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• 2 March 2021 4:15 pm

  World Health Organization: Corona Cases Are Rising Globally For The First Time in 7 Weeks

  

  The Director-General of the World Health Organization, Tedros Adhanom Ghebreyesus, said Monday that the number of new Coronavirus infections worldwide increased last week for the first time in seven weeks. Tedros added that the increase is “disappointing, but not surprising.” He urged countries not to ease measures to combat the …

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• 2 March 2021 3:40 pm

  Apple Reopening All of Its Stores in America

  

  Apple has announced that all of its 270 stores in the United States are reopening for the first time in nearly a year after it was forced to close several outlets due to the Covid-19 pandemic. The company has been cautious in reopening its retail stores, using a team that …

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• 2 March 2021 3:12 pm

  UK House Prices Miss Expectations And Rise in February

  

  Mortgage Finance Nation Wide said UK house price growth rose unexpectedly last month, defying expectations of a slowdown, as Finance Minister Rishi Sunak prepares to introduce new budgetary measures to boost the market. The company added that house prices rose 6.9% year-on-year in February from 6.4% in January, beating all …

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• 2 March 2021 2:45 pm

  Weak Commodity Prices Putting Pressure on European Stocks

  

  The benchmark European stock index fell on Tuesday (March 2nd) after hitting its strongest session in four months yesterday as shares of mining and energy companies, which have a weight on the index, fell on the weak commodity prices. The European Stoxx600 index fell 0.2% in early trading, affected by …

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• 2 March 2021 2:16 pm

  Eurozone Preliminary CPI misses Estimates with 0.9% YoY in February

  

  According to Eurostat’s initial reading of the Eurozone CPI report for February, European Consumer Price Index (CPI) came in steady at 0.9%. This annual reading is missing the estimation of 1%. The core reading rose by 1.1% annually in same period when compared to the estimated reading of 1.1% and …

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• 2 March 2021 1:56 pm

  Unexpected Surge in German Unemployment

  

  German unemployment rose in February for the first time since last June, data showed on Tuesday, according to Reuters. The Labor Office said the number of people out of work rose by 9,000 in seasonally adjusted terms to 2.752 million.

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