Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 22 March 2021 2:11 pm

  European Union Leaders Will Hold a Virtual Summit

  

  A European Union spokesman said today, Sunday, that the leaders’ summit scheduled for March 25-26 in Brussels will be held via video conference due to the increase in coronavirus cases across Europe. In a post on Twitter, Barend Leyts, spokesman for Charles Michel, President of the European Council that chairs …

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• 22 March 2021 2:07 pm

  Gold Falling And Lira Pushes Dollar up

  

  Gold prices fell as investors preferred alternative safe-haven assets such as the US dollar and bonds after Turkey’s surprising decision to appoint a new central bank governor who was known to criticize high interest rates, which led to uncertainty over fiscal policy. Gold fell in the spot market 0.5 percent …

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• 22 March 2021 1:23 pm

  Volatile Turkish Lira Offsets Some of Its Early Losses, at 7.8 per Dollar

  

  The lira partially recovered to 7.8 against the dollar on Monday, after falling 15% to an all-time low in early trade following President Recep Tayyip Erdogan’s shocking decision to dismiss the central bank governor. The lira tumbled as much as 8.4850 against the dollar from 7.2185 on Friday, returning to …

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• 22 March 2021 1:03 pm

  Japan Stocks Plummet After a Chip Plant Fire

  

  Japanese stocks plunged as carmakers were hit after a fire broke out at a factory owned by a semiconductor supplier Renesas Electronics, sparking fears that vehicle production would be hit by further shortages of chips. The Nikkei continued to perform below the level of the broader market after the Bank …

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• 22 March 2021 12:27 pm

  Oil Falls as Recovery Hopes Dwindle Due to Isolation Measures in Europe

  

  Oil prices fell again, with renewed fears that general isolation measures in Europe could slow an expected recovery in demand for fuel products. Brent fell 34 cents, equivalent to 0.5%, to $64.19 a barrel In Asian trading, US crude lost 21 cents, equivalent to 0.3%, to $61.21 a barrel. The …

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• 22 March 2021 7:01 am

  Weekly Recap: 15-19 March

  

  Weekly Recap: 15-19 March The third week of March was highlighted by major central bank meetings around the world, from the United States to England and Japan. In the U.S., the Federal Reserve decided to maintain interest rates unchanged near 0%, as well as the current pace of asset purchases …

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• 20 March 2021 2:17 am

  Oil Futures Settle Higher to Narrow Weekly Losses

  

  Oil prices rose on Friday, supported by concerns about geopolitical risks in the Middle East impacting crude supplies, but could not recover its weekly losses, which are mostly due to worries about the recovery of the global demand. A resurgence in coronavirus cases in Europe, which resulted in another four-week …

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• 20 March 2021 1:39 am

  Gold Finishes Higher Extending Weekly Rise

  

  Gold prices rose on Friday, extending their weekly gains, amid increased demand from investors. The yellow metal futures for April delivery gained $9.20, or 0.5%, to close today’s session at $1,741.70 per ounce. For the week, gold futures gained about 1.3%.

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• 20 March 2021 12:28 am

  European Stocks Finish Lower but Maintain Small Weekly Gains

  

  European stocks closed lower on Friday, amid concerns about the slow rollout of vaccines, a rise in the number of new Coronavirus infections and re-imposing lockdown measures in France, in addition to a the rise in U.S. Treasury bond yields. The STOXX Europe 600 index dropped by 0.76% and closed …

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• 19 March 2021 10:38 pm

  U.S. Coal Exports Decline by 26% in 2020

  

  The United States coal exports declined by 26% to 69 million metric short tons (MMst) in 2020, from 93 MMst in 2019, according to recent data by the U.S. Energy Information Administration (EIA). Data also showed that four out of the top 10 U.S. coal exporters increased their imports in …

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• 19 March 2021 10:20 pm

  Fitch Ratings Expects Roll Back of QE by Federal Reserve in 2022

  

  Fitch Ratings expects the United States Federal Reserve will begin next year reducing the quantitative easing (QE) measurements aimed at combating the negative economic impacts of the Coronavirus pandemic. The move could come in the form of decreasing asset purchases in 2022, which the ratings agency expects it will be …

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• 19 March 2021 9:53 pm

  U.S. Oil Rigs See Largest Increase since January

  

  The number of active rigs drilling for crude oil and natural gas in the United States increased by nine rigs to 411 this week, weekly data by Baker Hughes showed on Friday. The increase in the rig count was entirely attributed to the increase in oil rigs to 318, while …

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• 19 March 2021 8:44 pm

  Russia’s Central Bank Hikes Interest Rate to 4.5%

  

  The Central Bank of Russia on Friday decided to raise its main interest rate by 0.25% to 4.5%, due to the recent rise in inflation above the central bank’s forecasts. The bank’s policy statement noted that “domestic demand is recovering more steadily and faster than expected, outstripping the pace of …

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