Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 6 March 2021 1:57 am

  Oil Nearly Doubles its Weekly Gains on Friday

  

  Oil prices rose on Friday, reaching their highest levels since 2019, supported by the extension of the OPEC+ output cuts. The Organization of the Petroleum Exporting Countries (OPEC) and its partners, forming an alliance known as OPEC+, agreed on Thursday to extend most crude oil production cuts until the end …

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• 5 March 2021 10:53 pm

  Gold Breaks $1,700 Level for First Time since Last June

  

  Gold prices declined on Friday, extending their weekly losses as the U.S. Dollar (USD) strengthened and higher Treasury yields continued to drive away demand from the yellow metal. The first week of March continues on the negative performance of last month, as February saw the worst performance for gold futures …

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• 5 March 2021 10:47 pm

  USD Surges to Highest Level in Three Months

  

  The U.S. Dollar (USD) rose on Friday supported by the increase in Treasury bond yields amid improved outlook for economic recovery, after data showed that the American economy added a higher than expected number of new jobs last month. The Dollar Index (DXY), which measures the greenback’s performance against a …

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• 5 March 2021 10:42 pm

  U.S. Oil Rig Count Increases by One in Week

  

  The number of active oil and natural gas rigs in the United States increased by a single one this week, data by Baker Hughes showed on Friday. The total rig count in the U.S. stands at 403, 390 rigs less than the same time of last year. The oil rig …

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• 5 March 2021 9:26 pm

  European Stocks Decline but Record Weekly Gains

  

  European stocks closed lower on Friday, as rising Treasury bond yields continued to leave their toll on the market. The pan-European STOXX 600 index finished the day lower by 0.82%, limiting its losses that reached 1% earlier in the session, and managed to gain around 1.1% for the week. Travel …

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• 5 March 2021 8:23 pm

  Brazil’s Industrial Production Continues to Grow for Ninth Month

  

  Industrial output in Brazil continued to expand during January for the ninth consecutive month, despite a slowdown as the economy is still recovering from the Coronavirus pandemic. Industrial production increased by 0.4% in January on a monthly basis and by 2% year-on-year, data by IBGE showed on Friday. Food production …

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• 5 March 2021 8:14 pm

  U.S. Unemployment Rate Declines on Higher Jobs Rise

  

  The unemployment rate in the United States declined to 6.2% from 6.3% in January, data by the U.S. Department of Labor showed on Friday. Last month, the American economy added the biggest number of jobs in four months, amid the recovery from the impact of the Coronavirus pandemic and the …

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• 5 March 2021 7:29 pm

  Canada’s Ivey PMI Soars in February

  

  Economic activity in Canada expanded during February, after contracting in January, data showed on Friday. The seasonally adjusted Ivey Purchasing Managers Index (PMI) surged last month to 60, from 48.4 in January, exceeding the 50 neutral mark. The index also rose on an annual basis, compared with its level at …

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• 5 March 2021 6:07 pm

  US: Goods And Services Deficit Widens to $68.2 Billion in January

  

  The goods and services deficit of the US widened by $1.2 billion to $68.2 billion in January, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Friday.

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• 5 March 2021 5:33 pm

  US Nonfarm Payrolls surge by 379,000 in February

  

  Nonfarm Payrolls (NFP) in the US increased by 379,000 in February, the data published by the US Bureau of Labor Statistics showed on Friday. To be updated …

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• 5 March 2021 4:18 pm

  Halifax: UK house Price Growth Slowed For The Third Month

  

  Halifax mortgage lender said today that UK house price growth slowed for the third month in a row in February, in a new sign that the pandemic-driven boom in Britain’s housing market is fading. Halifax said house prices increased 5.2% year-on-year, following a 5.4% rise in January. In February alone, …

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• 5 March 2021 3:47 pm

  Goldman Expects Brent Prices to Reach $ 75 a Barrel in Q2

  

  Goldman Sachs Commodities Research raised its forecast for the price of Brent crude for the second and third quarters by $5 a barrel, after OPEC and its allies kept their agreement to cut supplies unchanged and said that “the discipline of shale oil producers” is likely behind the group’s increased …

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• 5 March 2021 3:18 pm

  German Factory Orders Rise in January Twice as much as Expected

  

  Official data revealed that orders for the supply of manufactured goods in Germany rose twice as much as expected in January, as stronger external demand helped manufacturers in Europe’s largest economy. The data published by the Federal Statistics Office showed that orders for the supply of industrial goods increased on …

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