Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 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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• 12 March 2021 5:02 pm

  Industrial Production in The Eurozone Stronger Than Expected in January

  

  The European Union’s statistics office Eurostat said today that industrial production for the Eurozone was much stronger than expected in January and revised up significantly in December, indicating that the new year has begun to improve despite the continuing Covid-19 pandemic. Eurostat said industrial production in the 19-nation Eurozone rose …

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• 12 March 2021 4:09 pm

  Currencies Overview: The Dollar Winning And Risk Currencies Are Losing

  

  The dollar rose today, recovering from losses incurred the previous day, as a strong rise in Treasury yields in the early European session sparked risk aversion moves in global currency markets, while riskier currencies were hit. Market dealers are growing anxious in recent weeks about the possibility of a strong …

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• 12 March 2021 3:04 pm

  Rising Bond Yields Are Putting Pressure on European Stocks

  

  Higher bond yields pushed European stocks lower today, but the main stock exchanges are heading for strong weekly gains as stimulus and immunization campaigns from the Coronavirus raise hopes for a strong economic recovery. The European STOXX 600 index fell 0.4% in early trade, after a series of gains over …

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• 12 March 2021 2:03 pm

  Brent Crude is Falling But Remains Near $70 Supported by Optimistic Demand

  

  Brent crude prices declined today, but hovered near $70 a barrel, as cuts made by major crude producers restrict supplies, while the market is also supported by optimism about the recovery in demand in the second half of the year. Brent crude futures for May delivery fell 33 cents, or …

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