Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 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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• 11 March 2021 11:52 pm

  Gold Maintains Gains for Third Day in Row

  

  Gold prices continued to rise on Thursday for the third consecutive session, supported by the decline of the U.S. Dollar (USD) and Treasury bond yields. The yellow metal registered limited gains today, as recent inflation data eased reflation concerns and improved risk sentiment among investors. Gold futures for April delivery …

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• 11 March 2021 11:43 pm

  OPEC Expects Demand Recovery in H2 of 2021

  

  The Organization of the Petroleum Exporting Countries (OPEC) expects the recovery of the global demand for crude oil to be focused on the second half (H2) of 2021. OPEC’s monthly report, released on Thursday, expects global demand will rise by 5.89 million barrels per day (b/d) in 2021, raising its …

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• 11 March 2021 10:22 pm

  European Stocks Hit Year-High Following ECB Statement

  

  European stocks rose on Thursday to their best level in about a year, supported by the dovish tone of the European Central Bank (ECB), which earlier today decided to maintain interest rates and signaled plans to expand its asset purchases in the coming quarter. Reduced fears about a reflation gave …

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• 11 March 2021 9:35 pm

  DXY Extends Losses as Market Reacts to Data and Stimulus Bill

  

  The U.S. Dollar (USD) declined on Thursday as the recent inflation data helped ease reflation fears, pushed down Treasury bond yields, and improved risk sentiment, which reflected positively on other currencies. Market are reacting to the passing of the $1.9 trillion relief bill by Congress, which is expected to soon …

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• 11 March 2021 9:11 pm

  Inflation in Brazil Hits Highest Level in Four Years

  

  The inflation rate in Brazil exceeded 5% last month for the very first time in more than four years, as shown by official data on Thursday. Annual consumer inflation rose by 5.20% in February, its highest level since January 2017. The inflation rate exceeded market expectations of registering about 5.06%. …

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• 11 March 2021 7:47 pm

  U.S. Natural Gas Inventories Down 52 bcf

  

  Natural gas inventories in the United States decreased by 52 billion cubic feet (bcf) last week, according to the weekly report released on Thursday by the U.S. Energy Information Administration (EIA). Working natural gas in storage reached 1,793 bcf as of Friday, March 5, the report showed. Gas stockpiles were …

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• 11 March 2021 7:35 pm

  U.S. Job Openings Exceed Expectations in January: JOLTS

  

  The number of job openings in the United States rose by the end of January to 6.917 million, data showed on Thursday. The reading shown by the U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Summary (JOLTS) came better than expectations of 6.6 million job openings. The number …

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• 11 March 2021 6:26 pm

  ECB: Lagarde Speech Highlights

  

  Christine Lagarde, President of the Europen Central Bank (ECB), is delivering her remarks on the monetary policy outlook in a press conference following the ECB’s decision to leave the policy settings unchanged. “Overal economic situation is expected to improve in 2021.” “Uncertainty remains.” “Persistently high COVID rates, lockdowns weigh on …

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• 11 March 2021 5:45 pm

  US: Weekly Initial Jobless Claims Decline to 712K

  

  There were 712,000 initial claims for unemployment benefits in the US during the week ending March 4, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 754,000 (revised from 745,000) and came in better than the market expectation of …

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