Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 15 March 2021 1:38 pm

  Brent Crude Heading to $70 as The Outlook For Chinese Energy Demand Improves

  

  Oil prices rose today, and Brent is heading towards the level of seventy dollars a barrel, as data show the acceleration of the Chinese economic recovery at the beginning of 2021, which supports the energy demand of the largest importer of oil in the world. Brent crude for May delivery …

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• 15 March 2021 1:04 pm

  Gold Gives up Gains Amid Hopes of a Quick Recovery After Chinese Data

  

  Gold prices erased their early gains today, as hopes for a faster economic recovery were supported by better-than-expected Chinese industrial production data, and pressure continued on the metal due to high US bond yields. There was little change in the price of gold in the spot market at $1724.68 an …

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• 15 March 2021 12:34 pm

  Japan Shares Closed Higher, Posting 3% Weekly Gain

  

  Japanese stocks rose on Monday thanks to the optimism that accompanied the approval of a huge US stimulus package to support stocks linked to the economic cycle, while SoftBank Group shares fell, while other technology companies recorded limited gains. The Nikkei index rose 0.17% to close at 29,766.97 points, and …

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• 15 March 2021 8:43 am

  Weekly Recap: 8-12 March

  

  Weekly Recap: 8-12 March The second week of March saw the official ratification of a huge stimulus package in the United States called the “American Rescue Plan” that was signed by President Joe Biden after being passed by Congress. The $1.9 trillion relief plan will raise direct monthly payments to …

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• 13 March 2021 12:33 am

  Oil Records Weekly Losses

  

  Oil prices declined on Friday, amid increasing selling pressures for profit making, amid the rise of the U.S. Dollar (USD) and Treasury bond yields. Brent crude futures declined by   44 cents, or 0.63%, to $69.19 per barrel, falling by 0.25% for the week. Meanwhile, the West Texas Intermediate (WTI) …

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• 13 March 2021 12:12 am

  Gold Posts First Losses in Four Days Limiting Weekly Rise

  

  Gold prices declined on Friday, after rising for three consecutive sessions, as the U.S. Dollar (USD) Treasury bond yields rose again. The yellow metal futures for April delivery finished lower by $2.80, or 0.2%, at $1,719.80 per ounce. For the week, gold’s most active contracts rose by nearly 1.3%. The …

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• 12 March 2021 10:04 pm

  Brazil’s Retail Sales Decline in January for Third Month in Row

  

  Retail sales in Brazil declined in January, for the third consecutive month, by 0.2%, data showed on Friday. The decline follows a 6.2% drop in retail sales in December, which was the second biggest on record, according to Reuters. Declining retail sales were attributed to a weaker performance by the …

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• 12 March 2021 9:46 pm

  European Stocks Close Mixed but Record High Weekly Gains

  

  European stocks declined on Friday, as Treasury bond yields resumed their upward trend, limiting their weekly gains that were boosted by yields declining and reflation fears easing. The STOXX Europe 600 index finished the last session of the week down by 0.26%, after three consecutive daily rises, narrowing its weekly …

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• 12 March 2021 8:14 pm

  Mexico’s Industrial Output Rises for Eighth Month in Row

  

  Industrial production in Mexico increased by 0.2% in January, maintaining expansion for the eighth consecutive month, data showed on Friday. The increase in industrial output was supported by the rise in construction activity, which grew by 1.5% compared to its level in December, while manufacturing decreased by 0.5%. On an …

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• 12 March 2021 7:48 pm

  U.S. Consumer Sentiment Improves in March

  

  Consumer sentiment in the United States reached its best level in about a year in March, according to the preliminary reading of the University of Michigan’s consumer survey. The consumer sentiment index rose to a reading of 83.0 during the first half of March 2021, up from 76.8 in February. …

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• 12 March 2021 7:41 pm

  U.S. Producer Prices See Largest Rise Since Late 2018

  

  Producer prices in the United States grew steadily last month, recording their largest increase in about two and a half years, data showed on Friday The producer price index (PPI) increased by 0.5% in February, after rising by 1.3% in January, according to data by the U.S. Department of Labor …

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• 12 March 2021 5:51 pm

  Canadian Unemployment Rate Fell to 8.2%

  

  The Unemployment Rate in Canada dropped to 8.2% in February from 9.4% in January and came in much better than the market expectation of 9.2%. Further details of the jobs report published by Statistics Canada revealed that employment in that period increased by 259,000 after falling by 266,000 over the …

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• 12 March 2021 5:35 pm

  J.P Morgan: Continued high Oil Prices Will Stimulate US Production Growth

  

  JP Morgan analysts said in a weekly note that the continued rise in oil prices is expected to stimulate an increase in US crude production this year. The bank now expects US crude oil production to average 11.78 million barrels per day in December 2021, up 710,000 barrels per day …

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