Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 8 March 2021 2:26 pm

  Brent Exceeds $70 For The First Time Since The Pandemic

  

  Brent crude futures rose above $70 a barrel today, Monday, for the first time since the outbreak of the Covid-19 pandemic, while US crude touched its highest level in more than two years, following reports of attacks on Saudi facilities. Brent contracts for May delivery reached $71.38 a barrel in …

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• 8 March 2021 1:31 pm

  German Industrial Output Unexpectedly Declined in January

  

  German industrial output fell unexpectedly in January, following a significant increase in the previous month’s reading, data released on Monday showed, predicting a weak start to the year for the manufacturing sector in Europe’s largest economy. Figures released by the Federal Statistics Office show a decline in output in the …

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• 8 March 2021 1:11 pm

  Gold is Recovering From Its 9-Month Low on The US Stimulus And Falling Bond Yields

  

  Gold rebounded today from its lowest level in nine months recorded last week, with the decline in bond yields and the approval of a huge US stimulus package to increase the attractiveness of the metal as a hedging tool in the face of inflation. Gold rose in the spot market …

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• 8 March 2021 12:32 pm

  Japan Shares Closed Lower Due to Adjusting Positions Before The End of The Fiscal Year

  

  Japanese stocks reversed the trend to close lower on Monday as investors sought to adjust their positions before the end of the fiscal year, while concerns over rising US bond yields weighed on sentiment. The benchmark Nikkei index fell 0.42% to close at 28,743.25 points, while the broader TOPIX index …

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• 8 March 2021 6:34 am

  Weekly Recap: 1-5 March

  

  The US economy continues on its path to recovery with strong PMI indicators and a healthy non-farm payrolls report with the US dollar showing strength supported by higher US Treasury yields. The yield on US 10-year Treasury notes rose 1.543%, indicating the highest levels since February or the highest level …

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• 6 March 2021 2:03 am

  Wall Street Finishes the Week with Strong Rebound

  

  The benchmark indices of the New York Stock Exchange (NYSE) recovered from its recent losses due to the rise in Treasury yields, as the sentiment of Wall Street improved on the back of positive employment data in the United States. The Dow Jones Industrial Average gained 572.16 points, or 1.9%, …

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• 6 March 2021 1:57 am

  Oil Nearly Doubles its Weekly Gains on Friday

  

  Oil prices rose on Friday, reaching their highest levels since 2019, supported by the extension of the OPEC+ output cuts. The Organization of the Petroleum Exporting Countries (OPEC) and its partners, forming an alliance known as OPEC+, agreed on Thursday to extend most crude oil production cuts until the end …

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• 5 March 2021 10:53 pm

  Gold Breaks $1,700 Level for First Time since Last June

  

  Gold prices declined on Friday, extending their weekly losses as the U.S. Dollar (USD) strengthened and higher Treasury yields continued to drive away demand from the yellow metal. The first week of March continues on the negative performance of last month, as February saw the worst performance for gold futures …

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• 5 March 2021 10:47 pm

  USD Surges to Highest Level in Three Months

  

  The U.S. Dollar (USD) rose on Friday supported by the increase in Treasury bond yields amid improved outlook for economic recovery, after data showed that the American economy added a higher than expected number of new jobs last month. The Dollar Index (DXY), which measures the greenback’s performance against a …

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• 5 March 2021 10:42 pm

  U.S. Oil Rig Count Increases by One in Week

  

  The number of active oil and natural gas rigs in the United States increased by a single one this week, data by Baker Hughes showed on Friday. The total rig count in the U.S. stands at 403, 390 rigs less than the same time of last year. The oil rig …

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• 5 March 2021 9:26 pm

  European Stocks Decline but Record Weekly Gains

  

  European stocks closed lower on Friday, as rising Treasury bond yields continued to leave their toll on the market. The pan-European STOXX 600 index finished the day lower by 0.82%, limiting its losses that reached 1% earlier in the session, and managed to gain around 1.1% for the week. Travel …

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• 5 March 2021 8:23 pm

  Brazil’s Industrial Production Continues to Grow for Ninth Month

  

  Industrial output in Brazil continued to expand during January for the ninth consecutive month, despite a slowdown as the economy is still recovering from the Coronavirus pandemic. Industrial production increased by 0.4% in January on a monthly basis and by 2% year-on-year, data by IBGE showed on Friday. Food production …

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• 5 March 2021 8:14 pm

  U.S. Unemployment Rate Declines on Higher Jobs Rise

  

  The unemployment rate in the United States declined to 6.2% from 6.3% in January, data by the U.S. Department of Labor showed on Friday. Last month, the American economy added the biggest number of jobs in four months, amid the recovery from the impact of the Coronavirus pandemic and the …

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