Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 9 March 2021 7:09 pm

  OECD Raises Expectations for Global Growth in 2021

  

  The Organization for Economic Cooperation and Development (OECD) expects the global economy will expand by 5.6% in 2021, raising its forecast for growth compared with an estimated rate of 4.2% in the previous report. The OECD report issued on Tuesday noted that recovery from the Coronavirus impact this year will …

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• 9 March 2021 6:48 pm

  Gold Rebounds as Treasury Yields and USD Pull Back

  

  Gold prices declined on Tuesday, as Treasury bond yields pulled back from their year-high, which also increased selling pressure on the U.S. Dollar (USD). The yellow metal futures for April delivery rose by 2.14% 1,713.80 per ounce and reached a high of $1,718.05 earlier today. This is attributed to the …

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• 9 March 2021 6:03 pm

  Total CEO Expects $50-60 Per Barrel of Oil

  

  The CEO of Total said that the global economic recovery from the Coronavirus pandemic may take two years, ruling out that oil prices will remain at their current high level of $70 a barrel. Patrick Boyan told local media, “I am not betting that prices remain at $70 a barrel. …

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• 9 March 2021 4:34 pm

  WTI Climbs to $69 After Monday’s Correction

  

  Crude oil prices witnessed a deeper correction at the beginning of the week, and a barrel of West Texas Intermediate crude lost 2.4% on Monday after rising more than 7% last week. WTI reversed its trend, rising 2% to $65.85. OPEC’s decision last week to keep production cuts through April …

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• 9 March 2021 3:43 pm

  Bitcoin And Ethereum Close to Historical Peaks

  

  The largest cryptocurrency by market value, Bitcoin, has surpassed the 54 levels during early trading from Tuesday’s session. While Ethereum, the second-largest cryptocurrency by market value, managed to record a remarkable performance after surpassing $1800 levels. The sharp rise in the prices of Bitcoin and Ethereum came after the two …

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• 9 March 2021 3:18 pm

  Euro area Annual GDP Contracts by 4.9% in Q4 vs. -5% Expected

  

  The Gross Domestic Product (GDP) in the Euroarea contracted by 4.9% on a yearly basis in Q4, the data published by Eurostat showed on Tuesday. This reading came in slightly better than the flash estimate and the market expectation of -5%. On a quarterly basis, the GDP declined by 0.7%.

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• 9 March 2021 2:35 pm

  Currencies Overview: USD Down From Its Three-And-a-Half-Month High as Bond Yields Stabilize

  

  The dollar fell from its highest in three and a half months today, Tuesday, as US Treasury yields stabilized, allowing gains for riskier currencies such as the British pound and the Australian and New Zealand dollars. The index measuring the strength of the dollar against a basket of other currencies …

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• 9 March 2021 1:28 pm

  Turkey Extends The Ban on Layoffs For Two Months

  

  Turkey has extended the ban on layoffs for two months, starting March 17, according to a presidential decree. The ban was imposed last year to limit the impact of the Coronavirus pandemic on employment and the economy at large. The Turkish President has the power to extend it for a …

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• 9 March 2021 12:20 pm

  German Exports Rise in January Thanks to Strong Trade With China

  

  German exports rose unexpectedly in January, buoyed by strong trade with China at a positive start of the year for manufacturers in Europe’s largest economy. Seasonally adjusted exports rose 1.4% compared to the previous month after a 0.4% increase in December, the Federal Statistics Office said Tuesday. The previous reading …

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• 9 March 2021 12:02 pm

  Gold Recovering From a 9-Month Low as US Bond Yields Decline

  

  Gold prices rose on March 9th, as the metal was boosted by a drop in US Treasury yields, after the previous session recorded its lowest level in nine months. The spot price of gold was up 0.7% to $1692.21 an ounce. Prices were down more than 1% on Monday to …

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• 9 March 2021 11:30 am

  Turkish Lira Recoups Some of Its Losses After a Decline in Two-Week

  

  The Turkish lira rose 0.8% against the dollar after recording its weakest rate since mid-December during the previous session, in a decline that raised expectations that the central bank will raise interest rates from its current level of 17% next week. The lira was at 7.68 per dollar, from 7.7440 …

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• 9 March 2021 10:57 am

  U.S. Department of State: Those Whose visa Applications Were Denied Due to Trump’s Decision Apply Again

  

  The US State Department said that most of those who applied for US visas and were rejected due to Trump’s decision to ban entry to citizens of 13 countries can seek to reconsider their applications or apply for new ones. President Joe Biden canceled the ban on entry to certain …

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• 9 March 2021 10:32 am

  Oil Prices Declining After Jumping Above $70 a Barrel Following Attack on oil facilities in Saudi Arabia

  

  Oil prices retreated on Monday after jumping earlier in the session above $70 a barrel for the first time since the start of the Coronavirus crisis, following attacks on Saudi oil facilities. Brent crude futures, the world record, ended the trading session down $1.12, or the equivalent of 1.61%, to …

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