Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 24 March 2021 3:02 am

  NYSE Closes Lower amid Fear of Tax Hikes

  

  The New York Stock Exchange (NYSE) finished Tuesday lower amid expectations of a tax increase by the Biden administration to fund spending on infrastructure, combating climate change, investing in renewable energy, and job creation, as well as the $1.9 trillion stimulus package. The Dow Jones Industrial Average dropped by 308.05 …

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• 24 March 2021 1:19 am

  Oil Extends Losses to More than 6%

  

  Oil prices dropped on Tuesday and entered into a correction wave amid selling pressures and concerns about the outlook for the recovery of the global demand. A third wave of the Coronavirus pandemic and imposing new lockdown measures in Europe are diminishing hopes of a quick economic recovery and a …

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• 24 March 2021 12:52 am

  Gold Settles Lower as USD Strengthens

  

  Gold prices declined on Tuesday to their lowest level in more than a week, amid a rise by the U.S. Dollar (USD). The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.67% at 92.36. Gold futures for April delivery …

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• 24 March 2021 12:03 am

  Fed’s Bostic Does not Expect Huge Surge in Inflation

  

  President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said that although huge stimulus spending and easing monetary policies could lead to a rise in consumer prices, he does not expect a surge in inflation similar to what the United States witnessed in the 1970. “There is a lot …

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• 23 March 2021 11:21 pm

  European Stocks Close Mostly Lower Amid Lockdown Worries

  

  European stocks showed a mixed performance on Tuesday as the continent enters into the third wave of the Coronavirus pandemic, which is leading to reintroducing lockdown measures in a number of countries. The pan-European STOXX 600 index closed lower by 0.12% at 423.65 points, as the auto sector decline by …

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• 23 March 2021 9:52 pm

  Yellen: Full Employment Could be Achieved Next Year

  

  U.S. Treasury Secretary Janet Yellen believes that the recently approved huge stimulus package is exactly what the American economy needed. Speaking in a virtual hearing by members of the House of Representatives, Yellen expected strong recovery from the negative economic impact of the pandemic. “With the passage of the rescue …

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• 23 March 2021 9:34 pm

  Powell: Stimulus Unlikely to Lead to Surge in Inflation

  

  The recently passed $1.9 trillion relief package is not expected to result in an undesirable rise in inflation rates in the United States, the Chairman of the U.S. Federal Reserve, Jerome Powell, said on Monday. Powell also said that the central bank is ready to deal with a surge in …

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• 23 March 2021 8:32 pm

  Fed’s Kaplan Expects Interest Hike Next Year

  

  The President of the Federal Reserve Bank of Dallas, Robert Kaplan, supports raising interest rates by the end of next year. Kaplan does not see a problematic surge in inflation soon. However, he expects economic recovery to lead to the reduction of the easing measures and looks forward to normalizing …

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• 23 March 2021 7:20 pm

  Oil Prices Drop 4% amid Concerns about European Lockdowns

  

  Oil prices continued to decline on Tuesday, posting huge losses in early trades during the American session. Concerns about renewed lockdowns in Europe, especially France and Germany, are negatively impacting the outlook for demand recovery. Last Saturday, France announced a major four-week lockdown to combat the spread of the virus, …

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• 23 March 2021 7:09 pm

  U.S. New Home Sales Decline 18% in February

  

  New home sales in the United States declined by 18.2% in February to 775,000, compared with their level in January, data by the U.S. Census Bureau showed on Tuesday. On an annual level, new home sales rose by 8.2% last month, compared with their level in February 2020. Data further …

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• 23 March 2021 7:03 pm

  Wall Street Declining Ahead of Powell and Yellen Speeches

  

  The main indices of the New York Stock Exchange (NYSE) opened Tuesday on a lower note, with the market anticipating new signals from upcoming remarks from the Chairman of the U.S. Federal Reserve, Jerome Powell, and Treasury Secretary Janet Yellen. Remarks are set to discuss the prospects of inflation and …

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• 23 March 2021 6:01 pm

  The US Current Account Deficit Jumps to a 12-Year High in 2020

  

  The current account deficit in the United States accelerated to a 12-year high in 2020, as the Covid-19 pandemic severely affected the flow of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services, and investments into and out of the …

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• 23 March 2021 5:27 pm

  The British Trade Minister Discusses a Trade Agreement With Her American Counterpart

  

  The office of British Trade Secretary Lise Truss said that she discussed progress toward a free trade agreement with the United States during talks with her US counterpart on Monday, pointing to the need for closer economic relations between the two countries. Truss’s office said she telephoned Catherine Tay to …

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