Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 22 March 2021 5:45 pm

  The CEO of Saudi Aramco Expects a Strong Rise in Oil Demand in The Future

  

  Amin Al-Nasser, CEO of Saudi Aramco, said today, Monday, that the giant national company is optimistic about the oil market and expects a strong recovery in demand. “We are very optimistic about future oil demand,” he said. He added that Aramco was undertaking engineering work to increase production capacity to …

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• 22 March 2021 4:39 pm

  US: Chicago Fed National Activity Index Drops to -1.09 in February

  

  The Federal Reserve Bank of Chicago’s National Activity Index dropped to -1.09 in February from 0.75 (revised from 0.66) in January. This reading missed the market expectation of 0.21%. “The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.17 in February from +0.34 in January,” …

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• 22 March 2021 4:37 pm

  Eurozone Current Account Surplus Shrank in January

  

  European Central Bank data showed that the eurozone current account surplus narrowed in January due to a larger secondary income deficit, which includes outflows such as remittances and taxes. The 19-nation bloc recorded a current account surplus of 30.5 billion euros in January, down from 36.7 billion euros in December …

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• 22 March 2021 3:50 pm

  Currencies Overview: Dollar Near Its Highest Level in 4 Months And Turkish Lira Falling

  

  The dollar has consolidated near its highest level in 4 months after Turkish President Recep Tayyip Erdogan surprised investors over the weekend by changing the central bank governor, which adopts policies that tend to tighten monetary, which led to turmoil in currency markets globally. The lira fell about 15%, near …

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• 22 March 2021 3:05 pm

  European Stocks Falling on Turkish Lira And Extension of Germany’s Closure

  

  European stocks retreated due to the drop in the Turkish lira and concerns about extending public isolation measures in Germany, while bank and travel companies took the biggest blow. The pan-European STOXX 600 index fell 0.5%, falling for a second consecutive session after hitting a year high last week. Global …

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• 22 March 2021 2:11 pm

  European Union Leaders Will Hold a Virtual Summit

  

  A European Union spokesman said today, Sunday, that the leaders’ summit scheduled for March 25-26 in Brussels will be held via video conference due to the increase in coronavirus cases across Europe. In a post on Twitter, Barend Leyts, spokesman for Charles Michel, President of the European Council that chairs …

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• 22 March 2021 2:07 pm

  Gold Falling And Lira Pushes Dollar up

  

  Gold prices fell as investors preferred alternative safe-haven assets such as the US dollar and bonds after Turkey’s surprising decision to appoint a new central bank governor who was known to criticize high interest rates, which led to uncertainty over fiscal policy. Gold fell in the spot market 0.5 percent …

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• 22 March 2021 1:23 pm

  Volatile Turkish Lira Offsets Some of Its Early Losses, at 7.8 per Dollar

  

  The lira partially recovered to 7.8 against the dollar on Monday, after falling 15% to an all-time low in early trade following President Recep Tayyip Erdogan’s shocking decision to dismiss the central bank governor. The lira tumbled as much as 8.4850 against the dollar from 7.2185 on Friday, returning to …

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• 22 March 2021 1:03 pm

  Japan Stocks Plummet After a Chip Plant Fire

  

  Japanese stocks plunged as carmakers were hit after a fire broke out at a factory owned by a semiconductor supplier Renesas Electronics, sparking fears that vehicle production would be hit by further shortages of chips. The Nikkei continued to perform below the level of the broader market after the Bank …

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• 22 March 2021 12:27 pm

  Oil Falls as Recovery Hopes Dwindle Due to Isolation Measures in Europe

  

  Oil prices fell again, with renewed fears that general isolation measures in Europe could slow an expected recovery in demand for fuel products. Brent fell 34 cents, equivalent to 0.5%, to $64.19 a barrel In Asian trading, US crude lost 21 cents, equivalent to 0.3%, to $61.21 a barrel. The …

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• 22 March 2021 7:01 am

  Weekly Recap: 15-19 March

  

  Weekly Recap: 15-19 March The third week of March was highlighted by major central bank meetings around the world, from the United States to England and Japan. In the U.S., the Federal Reserve decided to maintain interest rates unchanged near 0%, as well as the current pace of asset purchases …

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• 20 March 2021 2:17 am

  Oil Futures Settle Higher to Narrow Weekly Losses

  

  Oil prices rose on Friday, supported by concerns about geopolitical risks in the Middle East impacting crude supplies, but could not recover its weekly losses, which are mostly due to worries about the recovery of the global demand. A resurgence in coronavirus cases in Europe, which resulted in another four-week …

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• 20 March 2021 1:39 am

  Gold Finishes Higher Extending Weekly Rise

  

  Gold prices rose on Friday, extending their weekly gains, amid increased demand from investors. The yellow metal futures for April delivery gained $9.20, or 0.5%, to close today’s session at $1,741.70 per ounce. For the week, gold futures gained about 1.3%.

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