Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 10 March 2021 2:00 am

  Supply Data Weighs on Oil while Output Cuts and Forecasts Provide Support

  

  Oil prices declined on Tuesday for the second consecutive session, amid expectations for a buildup in U.S. crude supplies. A recent S&P Global Platts poll of market analysts estimated that oil inventories increased last week by 2.7 million barrels, following a huge surge of 21.6 million barrels in the week …

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• 10 March 2021 1:21 am

  Yellen Vows Quick Distribution of State and Local Aid

  

  The United States Treasury Secretary Janet Yellen said on Tuesday that the Department will aim at quickly distributing $350 billion of state and local government aid, as part of the $1.9 trillion relief bill that is expected to be passed by Congress tomorrow. “In the coming days our Treasury team …

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• 10 March 2021 1:15 am

  NYSE Finishes with Big Gains as Treasury Yields Stabilize

  

  The New York Stock Exchange (NYSE) rose on Tuesday and finished with strong gains, as Treasury bond yields in the United States pulled back from their highest level in about 13 months, and with tech stocks rising following strong selling pressures. The Dow Jones Industrial Average finished higher by 30 …

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• 10 March 2021 1:00 am

  U.S. Treasury Yields Decline from Year-High Levels

  

  Treasury yields in the United States declined on Tuesday as markets continued to react to recent developments that saw yields rise to their highest level in about 13 months. Investors showed an increased appetite for Treasury bonds today. The benchmark 10-year Treasury bond yield decreased by 4.9 basis points to …

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• 9 March 2021 11:22 pm

  Gold Maintains Gains and Records First Rise in Five Sessions

  

  Gold prices finished Tuesday’s trading session with strong gains, supported by the decline of Treasury bond yields and the U.S. Dollar (USD), recording its first gain after four consecutive declines. The rise in the yellow metal prices followed closing at its lowest level since early April 2020 on Monday. Gold …

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• 9 March 2021 9:03 pm

  Coupang Targets $58 B Valuation on Wall Street

  

  Coupang, a South Korea-based e-commerce company, has raised the price target for its initial public offering (IPO) on the New York Stock Exchange (NYSE), aiming at a valuation of $58 billion. The IPO is expected to be the largest on Wall Street since Alibaba’s in 2014. In addition, the boom …

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• 9 March 2021 8:52 pm

  European Stocks Close Higher as Treasury Yields Decline

  

  European shares finished Tuesday higher, supported by the decline in U.S. Treasury bond yields, despite data showing a contraction in the Eurozone’s economy during the fourth quarter (Q4) of 2020. The STOXX Europe 600 increased by 0.86% and finished at 420.82 points. The German benchmark index DAX settled higher by …

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• 9 March 2021 7:09 pm

  OECD Raises Expectations for Global Growth in 2021

  

  The Organization for Economic Cooperation and Development (OECD) expects the global economy will expand by 5.6% in 2021, raising its forecast for growth compared with an estimated rate of 4.2% in the previous report. The OECD report issued on Tuesday noted that recovery from the Coronavirus impact this year will …

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• 9 March 2021 6:48 pm

  Gold Rebounds as Treasury Yields and USD Pull Back

  

  Gold prices declined on Tuesday, as Treasury bond yields pulled back from their year-high, which also increased selling pressure on the U.S. Dollar (USD). The yellow metal futures for April delivery rose by 2.14% 1,713.80 per ounce and reached a high of $1,718.05 earlier today. This is attributed to the …

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• 9 March 2021 6:03 pm

  Total CEO Expects $50-60 Per Barrel of Oil

  

  The CEO of Total said that the global economic recovery from the Coronavirus pandemic may take two years, ruling out that oil prices will remain at their current high level of $70 a barrel. Patrick Boyan told local media, “I am not betting that prices remain at $70 a barrel. …

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• 9 March 2021 4:34 pm

  WTI Climbs to $69 After Monday’s Correction

  

  Crude oil prices witnessed a deeper correction at the beginning of the week, and a barrel of West Texas Intermediate crude lost 2.4% on Monday after rising more than 7% last week. WTI reversed its trend, rising 2% to $65.85. OPEC’s decision last week to keep production cuts through April …

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• 9 March 2021 3:43 pm

  Bitcoin And Ethereum Close to Historical Peaks

  

  The largest cryptocurrency by market value, Bitcoin, has surpassed the 54 levels during early trading from Tuesday’s session. While Ethereum, the second-largest cryptocurrency by market value, managed to record a remarkable performance after surpassing $1800 levels. The sharp rise in the prices of Bitcoin and Ethereum came after the two …

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• 9 March 2021 3:18 pm

  Euro area Annual GDP Contracts by 4.9% in Q4 vs. -5% Expected

  

  The Gross Domestic Product (GDP) in the Euroarea contracted by 4.9% on a yearly basis in Q4, the data published by Eurostat showed on Tuesday. This reading came in slightly better than the flash estimate and the market expectation of -5%. On a quarterly basis, the GDP declined by 0.7%.

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