Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 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 …

  Read More »
• 23 March 2021 4:52 pm

  US: Philly Fed Nonmanufacturing Index Jumps to 38.6 in March From 3.9

  

  The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey rose sharply to 38.6 in March from 3.9 in February. Further details of the publication revealed that the Firm-level Business Activity Index improved to 33.5 from 7.5 and the Full-time Employment Index edged higher …

  Read More »
• 23 March 2021 4:19 pm

  Currencies Overview: Dollar Stumbles as US Treasury Yields Decline

  

  The US dollar fell from its highest in four months against a basket of currencies on Monday, matching a drop in US Treasury yields. The dollar index fell 0.34% to 91.780 at the end of the trading session, after gaining 0.5% last week. The US Treasury yield fell today from …

  Read More »
• 23 March 2021 3:21 pm

  UK: CBI Manufacturing Order Book Balance Rises to Highest Level Since April 2019

  

  The data from the UK showed on Friday that the CBI’s Manufacturing Order Book Balance improved sharply to its highest level since April 2019 at -5 in March from -24 in February. This reading beat the market expectation of -20 by a wide margin. Further details of the publication revealed …

  Read More »
• 23 March 2021 2:32 pm

  Barclays Bank Raises Its Forecast For Oil Prices as Major Producers Are Cautious

  

  Barclays raised its forecast for oil prices this year at $4 a barrel, indicating that major producers are cautious about oversupply as demand recovers gradually from the recession caused by the pandemic. The bank now expects a price for Brent crude at $66 a barrel and for US West Texas …

  Read More »
• 23 March 2021 1:56 pm

  Oil Falling as Demand Hit by Corona Restrictions in Europe

  

  Oil prices fell 1% on Tuesday (March 23rd), as they were hit by fears that new restrictions imposed to combat the Coronavirus pandemic and the slow distribution of vaccines in Europe will slow down the recovery in demand, while producers cut production in a sign of abundant supplies. US West …

  Read More »
• 23 March 2021 1:18 pm

  The UK Unemployment Rate Fell Unexpectedly to 5% From 5.1%

  

  Official figures showed, Tuesday, March 23, that the unemployment rate in Britain fell unexpectedly to 5% in the three months ending in January, when the country entered again into general isolation measures to confront the outbreak of the Coronavirus, below expectations for a rise to 5.2% in a poll conducted …

  Read More »
• 23 March 2021 12:35 pm

  Japan Shares Closed Lower Affected by US Bond Yields

  

  Japan shares gave up early gains to close on Tuesday, March 23rd lower, following a weak performance in China markets as investors reaped profits from the recent rise of some companies on the mainland, while risk appetite was weakened by fluctuations in US bond yields. The Nikkei index fell 0.61% …

  Read More »
• 23 March 2021 10:37 am

  Germany Raises Its Pandemic-Related Borrowing Plans to More Than 450 Billion Euros

  

  Monday, a document showed that Germany is expected to continue a huge deficit in spending in light of the Covid-19 pandemic, with a debt-funded supplementary budget of about 60 billion euros for the current year and a draft budget for 2022 with new net debt of 81.5 billion euros. The …

  Read More »
• 23 March 2021 6:06 am

  Biden Planning $3-4 Trillion in Additional Public Spending

  

  The President of the United States, Joe Biden, is set to discuss with his aides the administration’s spending plans for infrastructure, climate change, and job creation, Reuters reported. Combined, these plans could cost around $4 trillion, which are expected to financed through tax increases. Biden “is considering a range of …

  Read More »
• 23 March 2021 4:35 am

  Fed’s Barkin: U.S. Economy on Brink of Completing Recovery

  

  President of the Federal Reserve Bank of Richmond, Thomas Barkin, said that the United States economy is close to completing the recovery despite the lingering of some risk factors. “Vaccines are rolling out, and case rates and hospitalizations are falling. Excess savings and fiscal stimulus should help fund pent-up demand …

  Read More »
• 23 March 2021 3:20 am

  Oil Futures Close Monday with Marginal Gains

  

  Oil prices registered marginal gains on Monday, opening the week with a positive performance following last week’s sharp losses, which were the worst in about five months. Expectations for economic recovery provided support to crude prices, but concerns about demand recovery and reintroducing lockdown measures in Europe had a negative …

  Read More »
• 23 March 2021 2:14 am

  Gold Closes Lower Amid Improved Risk Appetite

  

  Gold prices declined on Monday, due to lower investors’ demand on the yellow metal. Despite the relative decline in the U.S. Treasury bond yields, which remain near their highest level in a year, a positive performance by stock markets reduced demand for safe havens. Gold futures for April delivery closed …

  Read More »