Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 25 March 2021 5:49 am

  UK and EU Working on Vaccine Cooperation as New Variant Emerges in India

  

  The United Kingdom (UK) and the European Union (EU) released a joint statement, expressing aim for cooperation and creating a win-win situation by expanding vaccine supply for all citizens. “We are all facing the same pandemic and the third wave makes cooperation between the EU and UK even more important. …

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• 25 March 2021 2:09 am

  Oil Surges 6% amid Concerns about Supply Flows

  

  Oil prices surged and closed higher on Wednesday, a day following entering into the correction territory, after an incident in Egypt’s Suez Canal led to concerns about the flow of global crude supplies. Oil stockpiles in the United States rose last week by 1.9 million, the U.S. Energy Information Administration …

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• 25 March 2021 12:35 am

  Fed’s Williams Expects Strong Economic Recovery

  

  President of the Federal Reserve Bank of New York, John Williams, said on Wednesday that the pace of economic recovery would determine when the Fed could begin raising interest rates. Wide distribution of vaccines, containing the virus, and strong economic growth could lead the U.S. Federal Reserve to pull back …

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• 25 March 2021 12:27 am

  Gold Finishes Higher amid Coronavirus Fears

  

  Gold prices returned to gains on Wednesday, following two consecutive daily declines, amid increased demand for safe-havens, amid concerns about a third wave of the Coronavirus pandemic and renewed lockdowns in Europe. The rise of the yellow metal futures came despite the rise of the U.S. Dollar (USD) to its …

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• 25 March 2021 12:09 am

  Bitcoin Declines Following Brief Surge on Tesla’s Tweet

  

  Customers of Tesla can now purchase the company’s famous electric cars using Bitcoin, the company’s CEO Elon Musk announced on Wednesday through Twitter. “You can now buy a Tesla with Bitcoin,” Musk tweeted. Earlier this year, Tesla decided to invest $1.5 billion in the cryptocurrency, which helped Bitcoin reach new …

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• 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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