Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 3 March 2021 4:15 am

  Wall Street Closes Lower Amid Tech-Led Selloff

  

  The main indices of the New York Stock Exchange (NYSE) finished Tuesday lower, despite U.S. Treasury yields continuing to decline from their record levels, with Wall Street investors anticipating the passing of the $1.9 trillion stimulus package by the Senate. The market’s decline was led by the losses of the …

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• 3 March 2021 4:08 am

  U.S. Treasury Yields Continue to Decline

  

  Treasury yields in the United States continued to decline on Tuesday for the third consecutive session, as remarks by Federal Reserve officials highlighted the focus on the bond market. The benchmark 10-year Treasury bond yield decreased by 3.1 basis points to 1.413%. Return on the 30-year bond fell by 0.5 …

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• 3 March 2021 4:05 am

  U.S. Oil Supplies Rise by 7.4 M Barrels: API

  

  Crude oil inventories in the United States increased by about 7.4 million barrels last week, according to data by the American Petroleum Institute (API) on Tuesday. Gasoline inventories declined by 9.9 million barrels, while distillate stockpiles fell by 9.1 million barrels. Earlier today, Brent crude futures for May delivery fell …

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• 2 March 2021 11:00 pm

  Gold Returns to Gains After Five Losses in Row

  

  Gold prices rose on Tuesday, after declining for five straight sessions, amid a decline in Treasury yields that also pushed the U.S. Dollar (USD) lower. The yellow metal futures for April delivery gained $10.60, or 0.6%, to close at $1,733.60 per ounce. Gold settled on Monday at its lowest level …

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• 2 March 2021 9:30 pm

  European Stocks Continues to Rise As Treasury Yields Stabilize

  

  European stocks closed higher on Tuesday, amid a decline in Treasury yields leading to an improvement in investors’ sentiment. The pan-continental STOXX Europe 600 index finished higher by 0.19% at 413.23 points, following its strong performance on Monday. The French CAC40 index rose by 0.29%, while the German DAX gained …

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• 2 March 2021 9:06 pm

  CAD Rises Despite Declining Oil Prices on USD Losses

  

  The Canadian Dollar (CAD) rose against its U.S. counterpart despite the decline of crude oil prices, after data showed that Canada’s real Gross Domestic Product (GDP) expanded by 0.1% in December, which came below market expectations. Figures published by Statistics Canada showed on Tuesday that the November reading was revised …

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• 2 March 2021 8:27 pm

  USD Declines as Treasury Yields Maintain Downward Trend

  

  The U.S. Dollar (USD) gave up all of the gains that it recorded earlier today during the European session and turned to the negative territory earlier in the American session as U.S. Treasury yields continued to decrease from its record levels. The Dollar Index (DXY), which measures the greenback’s performance …

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• 2 March 2021 7:59 pm

  ISM-New York Business Conditions Index at Nine-Month Low

  

  The ISM-New York current business conditions index decreased by 15.7 points to a nine-month low of 35.5 in February, according to the ISM-New York Monthly Report on Business. This reading showed a decline from the January level of 51.2, a level that represented a loss of 10.1 points. The Six-Month …

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• 2 March 2021 7:00 pm

  Monthly PPI in Brazil at Second Highest Level since 2014

  

  The producer price index (PPI) in Brazil registered its second highest increase on record since 2014, according to official data by IBGE released on Tuesday. The PPI increased by 3.36% in January compared with its level in December 2020. It is worth noting that the highest level for the index …

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• 2 March 2021 5:44 pm

  Canada: Real GDP Expands by 0.1% in December

  

  Canada’s Real Gross Domestic Product (GDP) expanded by 0.1% in December, the data published by Statistics Canada showed on Tuesday. This reading came in weaker than the market expectation of 0.3%. On a positive note, November’s reading got revised up to 0.8% from 0.7%.

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• 2 March 2021 5:14 pm

  Turkey’s Trade Deficit Increased by 10.7% in February

  

  Trade Ministry data showed that Turkey’s trade deficit amounted to $3.36 billion in February, an increase of 10.7% over the previous year, while exports jumped 9.6%, hitting a record high on a monthly basis. Exports increased to $16.012 billion last month, while imports increased 9.8% to $19.37 billion, according to …

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• 2 March 2021 4:42 pm

  Germany: Unemployment Rate Rises Surprisingly in February

  

  The unemployment rate in Germany rose during the month of February for the first time since last June, according to data released today, Tuesday, which dashed expectations of a decrease in the number of measures aimed at curbing the Coronavirus. For its part, the Labor Office said that the number …

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• 2 March 2021 4:15 pm

  World Health Organization: Corona Cases Are Rising Globally For The First Time in 7 Weeks

  

  The Director-General of the World Health Organization, Tedros Adhanom Ghebreyesus, said Monday that the number of new Coronavirus infections worldwide increased last week for the first time in seven weeks. Tedros added that the increase is “disappointing, but not surprising.” He urged countries not to ease measures to combat the …

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