Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 24 March 2021 11:48 pm

  Powell: It is Going to be a Very Strong Year

  

  Chairman of the United States Federal Reserve Jerome Powell spoke in an optimistic tone about the recovery of the U.S. economy from the impact of the Coronavirus pandemic, during his testimony before the Senate Banking Committee. Powell said that 2021 “is going to be a very, very strong year in …

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• 24 March 2021 11:39 pm

  Yellen Sees Banks in Healthy Positions

  

  U.S. Treasury Secretary Janet Yellen believes that American banks could be allowed to pay dividends and repurchase stock as they show recovery to a healthy position, she told the Senate Banking Committee in her testimony on Wednesday. According to Yellen, banks “should have some ability to, abiding by the rules, …

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• 24 March 2021 10:24 pm

  EUR Declines as USD Nears Highest Level in Four Months

  

  The Euro (EUR) is showing a downward performance against the U.S. Dollar (USD) on Wednesday, with the later nearing its best level in about four months against rivals. The EUR/USD pair is trading lower for the day by 0.17% at 1.1829. The pair has been moving today in a range …

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• 24 March 2021 9:12 pm

  European Stocks Close Wednesday Mixed

  

  European stocks showed a mixed performance on Wednesday, amid concerns about the resurgence of the Coronavirus pandemic through a third wave, a slow rollout of vaccines, and the implications on the global economy. The STOXX Europe 600 index finished nearly unchanged, adding     0.24 points, or 0.057%, and closing at …

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• 24 March 2021 7:57 pm

  DXY Maintains Gains as Treasury Yields Continue to Rise

  

  The U.S. Dollar (USD) continued an upward trend on Wednesday, supported by the rise in Treasury bond yields. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.15% at 92.48. The index has been fluctuating today in a range …

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• 24 March 2021 6:17 pm

  US: Markit Manufacturing PMI Edges Higher in March

  

  The IHS Markit’s Manufacturing PMI edged higher to 59 in March from 58.6 in February, revealing that the business activity in the manufacturing sector continued to expand at a robust pace. This reading came in slightly lower than the market expectation of 59.3.

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• 24 March 2021 5:33 pm

  US: Durable Goods Orders Decline in February

  

  Durable Goods Orders in the United States declined by 1.1%, or $2.9 billion, in February to $254 billion, the data published by the US Census Bureau showed on Wednesday. This reading followed January’s increase of 3.5% and missed the market expectation of +0.8%.

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• 24 March 2021 4:59 pm

  Currencies Overview: The Dollar Reaches a 4-Month High on Fears of European Lockdowns And a US Tax Hike

  

  The dollar hit a four-month high on Wednesday, March 24, as concerns about a third wave of the Covid-19 pandemic in Europe, the prospect of a tax hike in the United States, and mounting tension between the West and China weighed on risk appetite. The dollar index rose to a …

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• 24 March 2021 4:18 pm

  The Eurozone Economy Returns to Growth in March With Factory Activity

  

  A preliminary survey showed a sudden return to economic activity in the euro area to grow this month, as factories increased their production to the fastest pace in more than 23 years, offsetting a continuing slowdown in the region’s dominant service sector. But the final reading of the survey and …

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• 24 March 2021 3:37 pm

  Germany Approves an Additional Budget That Includes a New Record Borrowing

  

  An official said that the government of German Chancellor Angela Merkel approved a debt-financed supplementary budget of 60 billion euros, 71 billion dollars, which raises the new borrowing to a record level exceeding 240 billion euros this year. The revised budget highlights Berlin’s willingness to continue huge borrowing-financed spending during …

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• 24 March 2021 2:49 pm

  Oil Prices Rebound by About 3% After a Container Ship Stranded in The Egyptian Suez Canal

  

  Oil prices rose in today’s trading by about 3% after a container ship ran aground in the Egyptian Suez Canal and other ships accumulated inside the canal. Brent crude prices rose by about 3% to $62.7 a barrel, and Texas crude prices rose by more than 3% to about $59 …

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• 24 March 2021 2:19 pm

  UK Preliminary Manufacturing PMI Beats Estimates in March

  

  The UK manufacturing and services sector activities continue to improve in March, the preliminary report from IHS Markit showed this Wednesday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) jumped to 40-month highs of 57.9 in March versus 55.0 expected and 55.1 – February’s final reading.

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• 24 March 2021 1:24 pm

  Britain’s Inflation Fell Unexpectedly to 0.4% in February

  

  Official figures showed that UK consumer price inflation fell to 0.4% in February from 0.7% in January, reflecting unusual patterns of discounts on clothing. This came against expectations in a Reuters poll for a rise to 0.8%.

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