Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 24 March 2021 1:05 pm

  The Turkish Lira Rises by More Than 1% And Compensates For Some of Its Losses

  

  The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy. The lira reached 7.8650 dollars against the …

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• 24 March 2021 12:29 pm

  Elon Musk Announces on Twitter That it is Possible to Purchase Tesla Cars Using Bitcoin

  

  Elon Musk announced, through his Twitter account, that his company accepted Bitcoin in exchange for buying cars produced by the company, which led to a rise in Bitcoin prices by more than 3%. The CEO of Tesla added that the Bitcoin purchase will be available to customers from outside America …

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• 24 March 2021 3:36 am

  Yellen: No Plans to Lengthen Treasury Bond Maturities

  

  The United States government does not plan to prolong the maturity of its debt instruments, said the U.S. Treasury Secretary Janet Yellen. Last year, the average maturity of Treasury bonds declined as the Trump administration amid an increased dependence on short-term notes. “Treasury has been looking at this question and …

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• 24 March 2021 3:02 am

  NYSE Closes Lower amid Fear of Tax Hikes

  

  The New York Stock Exchange (NYSE) finished Tuesday lower amid expectations of a tax increase by the Biden administration to fund spending on infrastructure, combating climate change, investing in renewable energy, and job creation, as well as the $1.9 trillion stimulus package. The Dow Jones Industrial Average dropped by 308.05 …

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• 24 March 2021 1:19 am

  Oil Extends Losses to More than 6%

  

  Oil prices dropped on Tuesday and entered into a correction wave amid selling pressures and concerns about the outlook for the recovery of the global demand. A third wave of the Coronavirus pandemic and imposing new lockdown measures in Europe are diminishing hopes of a quick economic recovery and a …

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• 24 March 2021 12:52 am

  Gold Settles Lower as USD Strengthens

  

  Gold prices declined on Tuesday to their lowest level in more than a week, amid a rise by the U.S. Dollar (USD). The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.67% at 92.36. Gold futures for April delivery …

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• 24 March 2021 12:03 am

  Fed’s Bostic Does not Expect Huge Surge in Inflation

  

  President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said that although huge stimulus spending and easing monetary policies could lead to a rise in consumer prices, he does not expect a surge in inflation similar to what the United States witnessed in the 1970. “There is a lot …

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• 23 March 2021 11:21 pm

  European Stocks Close Mostly Lower Amid Lockdown Worries

  

  European stocks showed a mixed performance on Tuesday as the continent enters into the third wave of the Coronavirus pandemic, which is leading to reintroducing lockdown measures in a number of countries. The pan-European STOXX 600 index closed lower by 0.12% at 423.65 points, as the auto sector decline by …

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• 23 March 2021 9:52 pm

  Yellen: Full Employment Could be Achieved Next Year

  

  U.S. Treasury Secretary Janet Yellen believes that the recently approved huge stimulus package is exactly what the American economy needed. Speaking in a virtual hearing by members of the House of Representatives, Yellen expected strong recovery from the negative economic impact of the pandemic. “With the passage of the rescue …

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• 23 March 2021 9:34 pm

  Powell: Stimulus Unlikely to Lead to Surge in Inflation

  

  The recently passed $1.9 trillion relief package is not expected to result in an undesirable rise in inflation rates in the United States, the Chairman of the U.S. Federal Reserve, Jerome Powell, said on Monday. Powell also said that the central bank is ready to deal with a surge in …

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• 23 March 2021 8:32 pm

  Fed’s Kaplan Expects Interest Hike Next Year

  

  The President of the Federal Reserve Bank of Dallas, Robert Kaplan, supports raising interest rates by the end of next year. Kaplan does not see a problematic surge in inflation soon. However, he expects economic recovery to lead to the reduction of the easing measures and looks forward to normalizing …

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• 23 March 2021 7:20 pm

  Oil Prices Drop 4% amid Concerns about European Lockdowns

  

  Oil prices continued to decline on Tuesday, posting huge losses in early trades during the American session. Concerns about renewed lockdowns in Europe, especially France and Germany, are negatively impacting the outlook for demand recovery. Last Saturday, France announced a major four-week lockdown to combat the spread of the virus, …

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• 23 March 2021 7:09 pm

  U.S. New Home Sales Decline 18% in February

  

  New home sales in the United States declined by 18.2% in February to 775,000, compared with their level in January, data by the U.S. Census Bureau showed on Tuesday. On an annual level, new home sales rose by 8.2% last month, compared with their level in February 2020. Data further …

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