Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 3 March 2021 3:53 pm

  UK’s Sunak: Cannot Ignore Problem of Borrowing

  

  British finance minister Rishi Sunak told ministers that they are borrowing on an extraordinary scale, British Prime Minister Boris Johnson’s spokesman told reporters on Wednesday, According to Reuters. “As a conservative government, we know that we cannot ignore this problem of borrowing,” Sunak added.

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• 3 March 2021 3:23 pm

  EU Commission: EU Budget Rules Should Remain Suspended in 2022

  

  The European Union’s budget rules should remain suspended in 2022 but they could be reinstated in 2023, the European Commission said on Wednesday, as reported by Reuters. “Overall fiscal impulse, stemming from national budgets and the EU recovery fund, needs to remain supportive in 2021 and 2022,” the statement read. …

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• 3 March 2021 2:31 pm

  Oil Rising on Revival of Demand Outlook With Progress in Vaccine Distribution in America

  

  Oil prices rose on Wednesday, March 3, as indications of progress in the distribution of Covid-19 vaccines in the United States, the world’s largest consumer, led to a rebound in demand expectations. US West Texas Intermediate crude futures rose 15 cents, equivalent to 0.25%, to $59.90 a barrel, recovering after …

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• 3 March 2021 2:06 pm

  ECB Said to See no Need For Drastic Action to Curb Bond Yields

  

  The European Central Bank (ECB) reportedly sees no need for drastic action to curb recent developments in the bond market, Blomberg reports, citing officials familiar with discussions. The officials said that the ECB believes that the risk to the economy is manageable via verbal interventions and QE/PEPP flexibility. “The ECB …

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• 3 March 2021 1:47 pm

  UK Final Services PMI Revised Down in Feb

  

  The UK services sector activity came less than expectations in February, the final report from IHS Markit came out this Wednesday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised higher to 49.5 in February versus 49.7 expected and a 49.7 – last month’s flash reading.

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• 3 March 2021 1:32 pm

  Currencies Overview: The US Dollar Weakened as Risk Sentiment Recovered

  

  The dollar, which is generally considered a safe haven, remained weak on Wednesday, March 3rd, as Treasury yields continued to decline, restoring some calm to global markets and sparking renewed demand for riskier assets. Riskier currencies, including the Australian dollar and the Norwegian kroner, held onto the two-day streak of …

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• 3 March 2021 1:01 pm

  Gold Prices Are Under Pressure Due to The Increase in US Treasury Yields

  

  Gold prices fell on Wednesday, March 3, to fall for the sixth session in seven sessions, as the yellow metal, which does not yield a return, has been under pressure due to expectations that US Treasury revenues will rise thanks to more economic stimulus. Spot gold fell 0.3% to $1732.51 …

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• 3 March 2021 12:35 pm

  Oil Prices Drop to a Two-Week Low, Amid Expectations That OPEC+ Will Ease Supply Restrictions

  

  Oil prices fell to their lowest in two weeks on the expectation that the OPEC+ group will ease restrictions on supplies during its meeting later this week as economies begin to recover from the Coronavirus pandemic. OPEC Secretary-General Muhammad Barkindo said that the outlook for oil demand looks more positive, …

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• 3 March 2021 4:42 am

  Senate Debating Biden’s $1.9 T Rescue Plan

  

  The United States is debating the $1.9 trillion stimulus package, as proposed by President Joe Biden, after the House of Representatives passed the relief bill. Democrats are expected to pass the “American Rescue Plan” bill through the reconciliation option, which allows approving the bill with a simple majority without any …

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• 3 March 2021 4:30 am

  Fed’s Brainard: Economy Remains Far From Goals

  

  Federal Reserve Governor Lael Brainard said on Tuesday that she is paying close attention to market developments, referring to last week’s surge in U.S. Treasury yields to their highest level in about a year. “Some of those moves last week and the speed of the moves caught my eye.”“I would …

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• 3 March 2021 4:24 am

  Fed’s Daly: No Reaction Needed to Rising Treasury Yields

  

  The President of the Federal Reserve Bank of San Francisco, Mary Daly, said on Tuesday that rising Treasury yields are worth monitoring by the central bank but should not lead to a change in the Fed’s policies. Daly noted that changes in equity markets sometimes run counter to the real …

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• 3 March 2021 4:15 am

  Wall Street Closes Lower Amid Tech-Led Selloff

  

  The main indices of the New York Stock Exchange (NYSE) finished Tuesday lower, despite U.S. Treasury yields continuing to decline from their record levels, with Wall Street investors anticipating the passing of the $1.9 trillion stimulus package by the Senate. The market’s decline was led by the losses of the …

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• 3 March 2021 4:08 am

  U.S. Treasury Yields Continue to Decline

  

  Treasury yields in the United States continued to decline on Tuesday for the third consecutive session, as remarks by Federal Reserve officials highlighted the focus on the bond market. The benchmark 10-year Treasury bond yield decreased by 3.1 basis points to 1.413%. Return on the 30-year bond fell by 0.5 …

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