Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 31 March 2021 3:36 pm

  OPEC+ Committee Lowers its Global Oil Demand Growth Forecasts

  

  A report issued from an OPEC + expert team committee reviewed by Reuters revealed that the cartel has lowered its forecast for global oil demand growth in 2021 by 300,000 barrels per day, indicating concerns about the market’s recovery in light of a new wave of lockdown measures to combat …

  Read More »
• 31 March 2021 2:32 pm

  Currencies Overview: US Dollar at Monthly Highs on Fiscal Stimulus Speculation

  

  The dollar hit a new year high against the yen and a multi-month high against other competitors on Wednesday (March 31st), as investors speculate that a massive fiscal stimulus package and an expanded vaccination campaign will help the United States lead the global pandemic recovery. Today, US President Joe Biden …

  Read More »
• 31 March 2021 1:53 pm

  Gold on Track For Its Worst Quarterly Performance Since The End of 2016

  

  Gold rose in volatile trading on Wednesday, March 31st, but the yellow metal is still heading for the biggest quarterly decline since December 2016, with the rise in US Treasury yields and the dollar undermining the charm of safe-haven status in gold. An increase of 0.1% to $ 1686.65/ounce in …

  Read More »
• 31 March 2021 1:04 pm

  Oil Prices Rise Amid OPEC Production Cuts

  

  Oil prices rose on the eve of an OPEC+ meeting, while investors believe that producers will largely agree to extend curbs on their supplies until May. OPEC+ raised concerns about the increase in the number of Coronavirus cases globally and that the general isolation measures will affect the recovery of …

  Read More »
• 31 March 2021 12:38 pm

  Reuters: The OPEC+ Joint Technical Committee Says The Uncertainty May Affect The Recovery in Oil Demand

  

  A report from the OPEC+ Joint Technical Committee reviewed by Reuters revealed concerns that uncertainty may affect the recovery of oil demand amid increasing global coronavirus infections and lockdown measures. The committee added in the report that despite the ongoing elimination of OECD commercial stocks, still above the 2015-2019 average, …

  Read More »
• 31 March 2021 3:24 am

  Goldman Sachs Expects Boom as U.S. Recovers from COVID-19

  

  The United States could witness an economic boom, as it recovers from the Coronavirus (COVID-19) pandemic, a recent report by Goldman Sachs suggested. “Our expectation of accelerating sequential growth is transitioning from forecast to fact,” the bank’s analysts said in a recent report titled, Anatomy of a Boom. Credit card …

  Read More »
• 31 March 2021 2:51 am

  Fed’s Williams Optimistic about Economic Recovery

  

  As more Americans are vaccinated and households and businesses from fiscal support, there are reasons to be optimistic about the U.S. economy President of the Federal Reserve Bank of New York, John Williams, said on Tuesday that he is optimistic for the United States economy as more people are vaccinated …

  Read More »
• 31 March 2021 2:46 am

  Wall Street Closes Lower Awaiting Biden’s Infrastructure Plan

  

  he New York Stock Exchange (NYSE) closed Tuesday with relatively small losses, as Wall Street investors were impacted by the tech sector losses that resulted from a surge in Treasury bond yields to their highest level in about 14 months. The Dow Jones Industrial Average declined by 104.41 points, or …

  Read More »
• 31 March 2021 2:38 am

  Oil Losses Exceed 1% Ahead of OPEC Summit

  

  Oil prices declined on Tuesday, after the reopening of the Suez Canal limited concerns about supply flows. In addition, the surge by the U.S. Dollar (USD) weighed on crude prices, ahead of the OPEC+ meetings, which will decide whether major producers will extend their output curbs during May or not. …

  Read More »
• 30 March 2021 11:00 pm

  Gold Closes Near Three-Week Low

  

  Gold futures declined on Tuesday for the second consecutive session, amid a strong rise by the U.S. Dollar (USD) and Treasury bond yields. The yellow metal most actives contracts closed at their lowest level in nearly three weeks, breaking the $1,700 support level. Gold futures for April delivery finished lower …

  Read More »
• 30 March 2021 10:59 pm

  European Stocks Close in Green Nearing its All-Time High

  

  European stocks closed higher on Tuesday, amid hopes for economic recovery from the impact of the Coronavirus pandemic with the rollout of vaccines. The STOXX Europe 600 index rose by 0.81% to close at 431.06 points, nearing its all-time record high of nearly 434 points, supported by the auto sector …

  Read More »
• 30 March 2021 10:11 pm

  Fed’s Bostic Expects Millions of Job Opportunities in Coming Months

  

  President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Tuesday that he expects millions of Americans will be rehired in the next summer as the economy recovers from the negative impact of the Coronavirus pandemic. “We could see a burst of activity and performance coming into the …

  Read More »
• 30 March 2021 9:43 pm

  USD Strengthens as Treasury Yields Rise

  

  The U.S. Dollar (USD) is rising on Tuesday, supported by the increase in Treasury bond yields. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.37% at 93.29. The index has been moving today in a range between 92.88 …

  Read More »