Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 4 March 2021 3:24 pm

  FAO: The World Food Price Index Rose For The Ninth Month in a Row

  

  The Food and Agriculture Organization of the United Nations (FAO) said that global food prices rose for the ninth consecutive month in February, reaching their highest levels since July 2014, led by jumps in the prices of sugar and vegetable oils. The FAO Food Price Index, which measures monthly changes …

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• 4 March 2021 3:23 pm

  Eurozone Retail Sales Decline in January

  

  The data published by Eurostat showed on Thursday that Retail Sales in the euro area contracted by 5.9% on a monthly basis in January. This reading followed December’s increase of 1.8% and fell short of the market expectation for a decline of 1.1%. On a yearly basis, Retail Sales fell …

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• 4 March 2021 2:50 pm

  The Turkish Lira is Slipping Towards Its Lowest Level Since The Beginning of 2021

  

  The Turkish lira weakened on Thursday (March 4th) and reached a level of 7.5 for the first time since January 18, under pressure from global concerns about rising US Treasury yields and concern over rising inflation in Turkey. The Turkish lira fell against the dollar to 7.5145 compared to 7.4550 …

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• 4 March 2021 1:50 pm

  Gold Prices Are Rising From The Lowest Level in Nine Months

  

  Gold prices rose Thursday, March 4th, recovering from the lowest level in nearly nine months recorded in the last session, but the US Treasury bond yields that are rising continued to put pressure on the yellow metal, which does not yield a return. Spot gold rose 0.5% to $1719.21, after …

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• 4 March 2021 1:13 pm

  Currencies Overview: The US Dollar Consolidates Before The US Federal Reserve’s Speech

  

  The dollar reached its highest level against the yen in 7 months today, Thursday, as it received support from a more regular rise in US Treasury yields ahead of a speech by Jerome Powell, the head of the US Federal Reserve, that may determine the direction the global currency and …

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• 4 March 2021 10:38 am

  Oil prices rise more than 2%, supported by a significant decrease in US inventories

  

  Oil prices rose more than 2% on Wednesday, supported by a significant drop in US fuel inventories and expectations that OPEC + producers may take a decision against increasing production when they meet this week. US gasoline stocks fell last week by the most on record, and refining production fell …

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• 4 March 2021 2:49 am

  Fed’s Beige Book Highlights Modest Growth as Economy Recovers from Pandemic

  

  The United States Federal Reserve’s Beige Book for February 2021 showed that overall economic activity expanded modestly from January to mid-February for most districts, which reflected in improved business confidence, as most businesses remain optimistic regarding the next 6-12 months. The optimism is driven by the rollout of Coronavirus vaccines, …

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• 4 March 2021 2:29 am

  Oil Rises with OPEC+ Expected to Extend Output Cuts

  

  Oil prices rose on Wednesday, despite the strong surge in crude inventories in the United States, supported by expectations that OPEC+ could be extending output cuts until the end of April. Recent reports suggested that the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form an …

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• 4 March 2021 1:56 am

  Gold Returns to Losses as Treasury Yields Rise

  

  Gold prices declined on Wednesday, closing at their lowest level in about nine months, amid the rise of Treasury yields and the U.S. Dollar (USD). The yellow metal futures for April delivery closed lower by $17.80, or 1%, at the level of $1,715.80 per ounce. This is the lowest finishing level …

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• 3 March 2021 10:08 pm

  European Stocks Close Mixed as Treasury Yields Rise

  

  European stocks showed a mixed performance on Wednesday, as markets continued to monitor changes in Treasury yields and new economic data that signal signs of recovery from the Coronavirus pandemic. The pan-continental STOXX Europe 600 index closed nearly unchanged, after rising earlier in the session by as much as 0.7%. …

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• 3 March 2021 9:47 pm

  ECB’s Weidmann not Worried About Rising Yields

  

  Rising Treasury bond yields in Eurozone are not a reason for concern, according to the President of Deutsche Bundesbank, Germany’s central bank, Jens Weidmann. Weidmann, who also serves as member of the European Central Bank (ECB) Governing Council, said in a TV interview with Bloomberg on Wednesday that he “would …

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• 3 March 2021 9:40 pm

  U.S. Oil Inventories Rise by 21.6 M Barrels

  

  Crude oil inventories in the United States surged by 21.6 million barrels last week, according to the weekly report of the U.S. Energy Information Administration (EIA) issued on Wednesday. The rise in oil supplies is much higher that what the market expected, as the S&P Global Platts survey expected an …

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• 3 March 2021 9:32 pm

  Fed’s Harker: Inequality Costing Economy Trillions Each Year

  

  The President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Wednesday that the United States economy loses trillions of Dollars every year due to racial and gender inequalities. Harker said that as the American economy recovers from the impact of the Coronavirus pandemic, it is essential to …

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