Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 23 March 2021 3:20 am

  Oil Futures Close Monday with Marginal Gains

  

  Oil prices registered marginal gains on Monday, opening the week with a positive performance following last week’s sharp losses, which were the worst in about five months. Expectations for economic recovery provided support to crude prices, but concerns about demand recovery and reintroducing lockdown measures in Europe had a negative …

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• 23 March 2021 2:14 am

  Gold Closes Lower Amid Improved Risk Appetite

  

  Gold prices declined on Monday, due to lower investors’ demand on the yellow metal. Despite the relative decline in the U.S. Treasury bond yields, which remain near their highest level in a year, a positive performance by stock markets reduced demand for safe havens. Gold futures for April delivery closed …

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• 23 March 2021 12:07 am

  Powell: Cryptocurrencies are Speculative Unstable Assets

  

  Cryptocurrencies are speculative assets and an unstable store of value, said the Chairman of the United States Federal Reserve, Jerome Powell, on Monday, noting that the Fed is not in a hurry to introduce its own digital currency, CNBC reported. “They’re highly volatile and therefore not really useful stores of …

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• 22 March 2021 11:35 pm

  European Stocks Finish Higher Recovering from Earlier Losses

  

  European stocks rose on Monday, supported by the continuous upward trend by the auto sector. After declining earlier in the session, the pan-European STOXX 600 finished higher by 0.19%, recovering from its losses earlier in the session. Meanwhile, the German index DAX gained 0.25%, while the UK’s FTSE100 rose by …

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• 22 March 2021 10:05 pm

  USD/CHF Declines as Franc Tops G10 Currencies

  

  The U.S. Dollar (USD) is showing a negative performance against its major rivals on Monday, but its biggest decline is against the Swiss Franc (CHF), which is the best performer of the day among the G10 currencies. The USD/CHF pair nearing its lowest level of last week. The pair, which …

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• 22 March 2021 9:32 pm

  Euro Rebounds as USD Declines Across the Board

  

  The Euro (EUR) is rising against the U.S. Dollar (USD) on Monday, starting the week with a positive performance amid the decline of the USD, which in the absence of major economic data remains impacted by the movement in Treasury bond yields. The benchmark U.S. 10-year Treasury bond yield is …

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• 22 March 2021 7:39 pm

  U.S. Existing Home Sales Decline in February

  

  Existing home sales in the United States declined in February by 6.6% to a seasonally adjusted annual rate of 6.22 million units, data by the National Association of Realtors (NAR) showed on Monday. Home resales increased by 9.1% compared with its level in the same period last year. The decline …

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• 22 March 2021 5:53 pm

  Bundesbank: German Economy Slumping on Anti-Virus Curbs

  

  Germany’s economy is likely to contract sharply this quarter, as the service sector is hit by pandemic restrictions as the slowdown extends to a booming construction sector, the Bundesbank said on Monday. In its most recent monthly report, the central bank appears to have abandoned its expectations for a spring …

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• 22 March 2021 5:45 pm

  The CEO of Saudi Aramco Expects a Strong Rise in Oil Demand in The Future

  

  Amin Al-Nasser, CEO of Saudi Aramco, said today, Monday, that the giant national company is optimistic about the oil market and expects a strong recovery in demand. “We are very optimistic about future oil demand,” he said. He added that Aramco was undertaking engineering work to increase production capacity to …

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• 22 March 2021 4:39 pm

  US: Chicago Fed National Activity Index Drops to -1.09 in February

  

  The Federal Reserve Bank of Chicago’s National Activity Index dropped to -1.09 in February from 0.75 (revised from 0.66) in January. This reading missed the market expectation of 0.21%. “The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.17 in February from +0.34 in January,” …

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• 22 March 2021 4:37 pm

  Eurozone Current Account Surplus Shrank in January

  

  European Central Bank data showed that the eurozone current account surplus narrowed in January due to a larger secondary income deficit, which includes outflows such as remittances and taxes. The 19-nation bloc recorded a current account surplus of 30.5 billion euros in January, down from 36.7 billion euros in December …

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• 22 March 2021 3:50 pm

  Currencies Overview: Dollar Near Its Highest Level in 4 Months And Turkish Lira Falling

  

  The dollar has consolidated near its highest level in 4 months after Turkish President Recep Tayyip Erdogan surprised investors over the weekend by changing the central bank governor, which adopts policies that tend to tighten monetary, which led to turmoil in currency markets globally. The lira fell about 15%, near …

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• 22 March 2021 3:05 pm

  European Stocks Falling on Turkish Lira And Extension of Germany’s Closure

  

  European stocks retreated due to the drop in the Turkish lira and concerns about extending public isolation measures in Germany, while bank and travel companies took the biggest blow. The pan-European STOXX 600 index fell 0.5%, falling for a second consecutive session after hitting a year high last week. Global …

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