Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 23 March 2021 11:21 pm

  European Stocks Close Mostly Lower Amid Lockdown Worries

  

  European stocks showed a mixed performance on Tuesday as the continent enters into the third wave of the Coronavirus pandemic, which is leading to reintroducing lockdown measures in a number of countries. The pan-European STOXX 600 index closed lower by 0.12% at 423.65 points, as the auto sector decline by …

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• 23 March 2021 9:52 pm

  Yellen: Full Employment Could be Achieved Next Year

  

  U.S. Treasury Secretary Janet Yellen believes that the recently approved huge stimulus package is exactly what the American economy needed. Speaking in a virtual hearing by members of the House of Representatives, Yellen expected strong recovery from the negative economic impact of the pandemic. “With the passage of the rescue …

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• 23 March 2021 9:34 pm

  Powell: Stimulus Unlikely to Lead to Surge in Inflation

  

  The recently passed $1.9 trillion relief package is not expected to result in an undesirable rise in inflation rates in the United States, the Chairman of the U.S. Federal Reserve, Jerome Powell, said on Monday. Powell also said that the central bank is ready to deal with a surge in …

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• 23 March 2021 8:32 pm

  Fed’s Kaplan Expects Interest Hike Next Year

  

  The President of the Federal Reserve Bank of Dallas, Robert Kaplan, supports raising interest rates by the end of next year. Kaplan does not see a problematic surge in inflation soon. However, he expects economic recovery to lead to the reduction of the easing measures and looks forward to normalizing …

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• 23 March 2021 7:20 pm

  Oil Prices Drop 4% amid Concerns about European Lockdowns

  

  Oil prices continued to decline on Tuesday, posting huge losses in early trades during the American session. Concerns about renewed lockdowns in Europe, especially France and Germany, are negatively impacting the outlook for demand recovery. Last Saturday, France announced a major four-week lockdown to combat the spread of the virus, …

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• 23 March 2021 7:09 pm

  U.S. New Home Sales Decline 18% in February

  

  New home sales in the United States declined by 18.2% in February to 775,000, compared with their level in January, data by the U.S. Census Bureau showed on Tuesday. On an annual level, new home sales rose by 8.2% last month, compared with their level in February 2020. Data further …

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• 23 March 2021 7:03 pm

  Wall Street Declining Ahead of Powell and Yellen Speeches

  

  The main indices of the New York Stock Exchange (NYSE) opened Tuesday on a lower note, with the market anticipating new signals from upcoming remarks from the Chairman of the U.S. Federal Reserve, Jerome Powell, and Treasury Secretary Janet Yellen. Remarks are set to discuss the prospects of inflation and …

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• 23 March 2021 6:01 pm

  The US Current Account Deficit Jumps to a 12-Year High in 2020

  

  The current account deficit in the United States accelerated to a 12-year high in 2020, as the Covid-19 pandemic severely affected the flow of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services, and investments into and out of the …

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• 23 March 2021 5:27 pm

  The British Trade Minister Discusses a Trade Agreement With Her American Counterpart

  

  The office of British Trade Secretary Lise Truss said that she discussed progress toward a free trade agreement with the United States during talks with her US counterpart on Monday, pointing to the need for closer economic relations between the two countries. Truss’s office said she telephoned Catherine Tay to …

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• 23 March 2021 4:52 pm

  US: Philly Fed Nonmanufacturing Index Jumps to 38.6 in March From 3.9

  

  The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey rose sharply to 38.6 in March from 3.9 in February. Further details of the publication revealed that the Firm-level Business Activity Index improved to 33.5 from 7.5 and the Full-time Employment Index edged higher …

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• 23 March 2021 4:19 pm

  Currencies Overview: Dollar Stumbles as US Treasury Yields Decline

  

  The US dollar fell from its highest in four months against a basket of currencies on Monday, matching a drop in US Treasury yields. The dollar index fell 0.34% to 91.780 at the end of the trading session, after gaining 0.5% last week. The US Treasury yield fell today from …

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• 23 March 2021 3:21 pm

  UK: CBI Manufacturing Order Book Balance Rises to Highest Level Since April 2019

  

  The data from the UK showed on Friday that the CBI’s Manufacturing Order Book Balance improved sharply to its highest level since April 2019 at -5 in March from -24 in February. This reading beat the market expectation of -20 by a wide margin. Further details of the publication revealed …

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• 23 March 2021 2:32 pm

  Barclays Bank Raises Its Forecast For Oil Prices as Major Producers Are Cautious

  

  Barclays raised its forecast for oil prices this year at $4 a barrel, indicating that major producers are cautious about oversupply as demand recovers gradually from the recession caused by the pandemic. The bank now expects a price for Brent crude at $66 a barrel and for US West Texas …

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