Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 5 March 2021 1:11 am

  Oil Prices Close 4.2% Higher After OPEC+ Extend Cuts

  

  Oil prices rose on Thursday, supported by the extension of crude output cuts by OPEC+ until the end of April. Brent crude futures for May delivery rose by $2.67, or 4.2%, to close at $66.74 per barrel, recording its highest finishing level since February 25. Meanwhile, the West Texas Intermediate …

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• 4 March 2021 11:49 pm

  OPEC+ Extends Output Cuts into April

  

  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 of next month. While Russia and Kazakhstan were allowed limited eases in output curbs, of 130,000 barrels per day (b/d) …

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• 4 March 2021 11:34 pm

  Gold Closes at Lowest Level in Nine Months

  

  Gold prices declined on Thursday, as the U.S. Dollar (USD) continued to rise due to rising Treasury yields. U.S. Treasury bond yields continued to rise today, as Federal Reserve Chairman Jerome Powell suggested that the Fed is closely monitoring changes in the bond market but said that current increases are …

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• 4 March 2021 11:26 pm

  Goldman Sachs Raises Benchmark Treasury Yield Target to 1.90%

  

  Goldman Sachs has raised its Treasury bond yield target, expecting the benchmark 10-year bond rate to reach 1.90% by the end of 2021, according to a research note on Thursday. The forecast comes amid a selloff in the bond market, MarketWatch noted. “The already material repricing in global yields will, …

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• 4 March 2021 10:43 pm

  U.S. Treasury Yields Rise Following Powell’s Remarks

  

  Treasury bond yields in the United States continued to noticeably rise on Thursday, after the Chairman of the U.S. Federal Reserve, Jerome Powell, noted that the Fed is monitoring the debt market to observe any tightening conditions. Powell said that some inflationary pressures are expected in the coming period, but …

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• 4 March 2021 10:34 pm

  Powell’s Comments Spark Negative Market Reaction

  

  The Chairman of the United States Federal Reserve, Jerome Powell, expects a rise in inflation in the U.S. in the coming period, but ruled out that it will impose enough pressure to raise interest rates. “We expect that as the economy reopens and hopefully picks up, we will see inflation …

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• 4 March 2021 9:39 pm

  European Stocks Fall as Treasury Yields Rise

  

  European stocks declined on Thursday as Treasury yields rose, with the pan-European STOXX 600 index losing 0.38%, after falling by 1% earlier in the session. The basic resources sector fell by 4.3%, while the utilities sector gained 1.7%. The French CAC40 index closed marginally higher by 0.01%, while the German …

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• 4 March 2021 8:23 pm

  Dollar Rises Strongly Against Safe Haven Currencies

  

  The U.S. Dollar (USD) rose on Thursday against safe-haven currencies, such as the Japanese Yen (JPY) and the Swiss Franc (CHF), supported by the increase in Treasury yields. The USD/JPY pair is up for the day by 0.57%, trading at 107.620. The pair has been moving today in a range …

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• 4 March 2021 7:30 pm

  U.S. Natural Gas Inventories Down 98 bscf in Week: EIA

  

  Natural gas inventories in the United States decreased by 98 billion cubic feet (bscf) last week, data by the U.S. Energy Information Administration (EIA) showed on Thursday. The decline in natural gas supplies came below market expectations that pointed to a drop of 137 bscf for the week ending on …

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• 4 March 2021 7:00 pm

  U.S Factory Orders Rise 2.6% in January

  

  Factory orders in the United States increased by 2.6% in January, data by the U.S. Census Bureau showed on Thursday. The reading exceeds that of market expectations, as a recent Dow Jones and Wall Street Journal poll of market experts expected a 2.3% increase in factory orders. The manufacturing sector …

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• 4 March 2021 5:52 pm

  US: Weekly Initial Jobless Claims Rise to 745K

  

  There were 745,000 initial claims for unemployment benefits in the US during the week ending February 27, the data published by the US Department of Labor (DOL) showed on Thursday. This reading followed the previous one of 736,000 and came in better expectation of 750,000.

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• 4 March 2021 5:34 pm

  New Car Sales in Britain Fall in February

  

  Preliminary data from the Union and distributors of automotive manufacturers in Britain showed that new car registrations fell by about 36% in February on an annual basis as forced public isolation procedures imposed anti-covid-19. The union noted that the volumes sold are at their lowest level in February since 1959. …

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• 4 March 2021 5:30 pm

  US: Challenger Job Cuts Drop to 34,531 in February

  

  Planned job cuts in the US-based employers dropped to 34,531 in February from 79,552 in January, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

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