Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 17 March 2021 7:54 pm

  Wall Street Mostly Lower at Early Trade

  

  The main indices of the New York Stock Exchange (NYSE) are showing a mixed performance during Wednesday’s trading session. Rising Treasury bond yields ahead of the release of the Federal Reserve second policy statement this year are increasing selling pressures in Wall Street. The Dow Jones Industrial Average is up …

  Read More »
• 17 March 2021 7:41 pm

  U.S. Oil Inventories Rise 2.4 M Barrels in Week

  

  Crude oil inventories in the United States increased by about 2.4 million barrels last week, according to the weekly report of the U.S. Energy Information Administration (EIA). Oil stockpiles totaled 500.8 million barrels for the week ending March 12, 2021. Meanwhile, gasoline inventories increased by 0.5 million barrels, while distillate …

  Read More »
• 17 March 2021 6:35 pm

  Fed: Forecast From 5 Major Banks

  

  The Federal Reserve is set to leave its policy unchanged but publish closely-watched forecasts for growth, inflation, employment and interest rates. Markets foresee an earlier increase in borrowing costs than the Fed and fear a bump up in inflation.  Federal Reserve Chair Jerome Powell will hold a press conference at …

  Read More »
• 17 March 2021 5:59 pm

  Eurozone Govt Bond Trading, Issuance Jumped in 2020

  

  A report by the Federation of Financial Markets in Europe said that the volume of trading in European government bonds increased to the highest level in five years in 2020. Added that the average annual trading volume increased 0.9% year-on-year to 71.7 billion euros last year, the highest since 2015. …

  Read More »
• 17 March 2021 5:15 pm

  Canada: Annual CPI Edges Higher to 1.1% in February

  

  Inflation in Canada, as measured by the Consumer Price Index (CPI), was 0.5% in February, the data published by Statistics Canada showed on Wednesday. On a yearly basis, the CPI edged higher to 1.1% from 1% but fell short of the market expectation of 1.3%. Moreover, the Bank of Canada’s …

  Read More »
• 17 March 2021 4:56 pm

  US: Housing Starts Decline by 10.3% in February

  

  Housing Starts in the US declined by 10.3% on a monthly basis in February following January’s 5.1% decline, the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday. Further details of the publication revealed that Building Permits fell by …

  Read More »
• 17 March 2021 4:00 pm

  Currencies Overview: Dollar Rising as Bond Yields Rise Ahead of FED

  

  The US dollar rose on Wednesday, March 17th and 10-year Treasury yields approached a 13-month peak ahead of the US Federal Reserve meeting that may shed some light on the timing of future interest rate hikes and the bank’s tolerance for higher yields. Policymakers are expected to release forecasts for …

  Read More »
• 17 March 2021 2:59 pm

  Euro Area Annual Core CPI Remains Steady at 1.1%

  

  Inflation in the euro area, as measured by the Consumer Price Index (CPI), stayed unchanged at 0.2% and 0.9% on a monthly and yearly basis, respectively, in February as expected. Further details of the report published by Eurostat revealed that the annual Core CPI, which excludes volatile food and energy …

  Read More »
• 17 March 2021 2:04 pm

  The US Dollar on The Positive Side Ahead of The Fed Meeting

  

  The US dollar index traded on the positive side on Wednesday near 91.90 amid a state of caution prevailing among traders ahead of the highly anticipated Fed meeting later in the day. Investors are anticipating that the Fed will raise growth forecasts after approving the massive stimulus package plus the …

  Read More »
• 17 March 2021 1:30 pm

  IEA: Oil Demand Will Grow by 5.5 million bpd to 96.5 million in 2021

  

  The International Energy Agency said that oil prices are unlikely to rise sharply and continuously, despite the expectation that demand will be supported by vaccines later in the year, as the world is still awash with oil. She added in her monthly report, “The great rise of oil to close …

  Read More »
• 17 March 2021 12:30 pm

  Japan Shares Closed Flat as Investors Awaited The Fed Meeting

  

  Japan shares closed flat on Wednesday, as gains in the health care sector were offset by profit-reaping selling in the technology sector, despite the continuing state of caution in general ahead of important meetings of the US Federal Reserve (central bank) and the Bank of Japan. The Nikkei index closed …

  Read More »
• 17 March 2021 11:34 am

  Gold Rises Boosted by a Bet on Inflation Ahead of The Fed Meeting

  

  Gold rose on Wednesday, March 17th, hovering near its highest level in more than two weeks, amid expectations of a higher level of inflation, although trading was limited to a narrow range, with investors showing caution before the two-day policy committee meeting of the Federal Reserve. Gold rose 0.3% in …

  Read More »
• 17 March 2021 11:05 am

  Oil Settled as demand Concerns Address a Sudden Drop in US Inventories

  

  Oil prices varied on Wednesday, March 17th, as concerns over volatile demand in Europe addressed hopes for a recovery in US refining activities, while industry data showed that US crude inventories fell unexpectedly last week. Brent futures were down 7 cents, or 0.1%, to $ 68.32 a barrel after initially …

  Read More »