Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 4 March 2021 10:38 am

  Oil prices rise more than 2%, supported by a significant decrease in US inventories

  

  Oil prices rose more than 2% on Wednesday, supported by a significant drop in US fuel inventories and expectations that OPEC + producers may take a decision against increasing production when they meet this week. US gasoline stocks fell last week by the most on record, and refining production fell …

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• 4 March 2021 2:49 am

  Fed’s Beige Book Highlights Modest Growth as Economy Recovers from Pandemic

  

  The United States Federal Reserve’s Beige Book for February 2021 showed that overall economic activity expanded modestly from January to mid-February for most districts, which reflected in improved business confidence, as most businesses remain optimistic regarding the next 6-12 months. The optimism is driven by the rollout of Coronavirus vaccines, …

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• 4 March 2021 2:29 am

  Oil Rises with OPEC+ Expected to Extend Output Cuts

  

  Oil prices rose on Wednesday, despite the strong surge in crude inventories in the United States, supported by expectations that OPEC+ could be extending output cuts until the end of April. Recent reports suggested that the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form an …

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• 4 March 2021 1:56 am

  Gold Returns to Losses as Treasury Yields Rise

  

  Gold prices declined on Wednesday, closing at their lowest level in about nine months, amid the rise of Treasury yields and the U.S. Dollar (USD). The yellow metal futures for April delivery closed lower by $17.80, or 1%, at the level of $1,715.80 per ounce. This is the lowest finishing level …

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• 3 March 2021 10:08 pm

  European Stocks Close Mixed as Treasury Yields Rise

  

  European stocks showed a mixed performance on Wednesday, as markets continued to monitor changes in Treasury yields and new economic data that signal signs of recovery from the Coronavirus pandemic. The pan-continental STOXX Europe 600 index closed nearly unchanged, after rising earlier in the session by as much as 0.7%. …

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• 3 March 2021 9:47 pm

  ECB’s Weidmann not Worried About Rising Yields

  

  Rising Treasury bond yields in Eurozone are not a reason for concern, according to the President of Deutsche Bundesbank, Germany’s central bank, Jens Weidmann. Weidmann, who also serves as member of the European Central Bank (ECB) Governing Council, said in a TV interview with Bloomberg on Wednesday that he “would …

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• 3 March 2021 9:40 pm

  U.S. Oil Inventories Rise by 21.6 M Barrels

  

  Crude oil inventories in the United States surged by 21.6 million barrels last week, according to the weekly report of the U.S. Energy Information Administration (EIA) issued on Wednesday. The rise in oil supplies is much higher that what the market expected, as the S&P Global Platts survey expected an …

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• 3 March 2021 9:32 pm

  Fed’s Harker: Inequality Costing Economy Trillions Each Year

  

  The President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Wednesday that the United States economy loses trillions of Dollars every year due to racial and gender inequalities. Harker said that as the American economy recovers from the impact of the Coronavirus pandemic, it is essential to …

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• 3 March 2021 9:23 pm

  SEC Sets Climate and FinTech Risks amid 2021 Priorities

  

  The United States Securities and Exchange Commission (SEC) has on Wednesday identified climate change, financial technology (FinTech), and conflicts of interest as the priorities of its Division of Examinations this year. The examinations division revealed in its annual priorities that climate-related risks, meaning environmental, social, and governance (ESG) risks, as …

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• 3 March 2021 8:37 pm

  U.S. Mortgage Rates Rise for Fourth Week in Row

  

  Mortgage rates in the United States saw their biggest increase in about a year last week, reaching their their highest level since July 2020, amid a surge in U.S. Treasury bond yields, Reuters reported. The contract rate on a 30-year fixed-rate mortgage leveled up by 0.15% to 3.23% in the …

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• 3 March 2021 7:37 pm

  ISM Services PMI Maintains Expansion for Ninth Month in Row

  

  The United States services sector Purchasing Managers’ Index (PMI) declined by 3.4% to 55.3% in February, down from the January reading of 58.7%, data by the Institute for Supply Management (ISM) showed on Wednesday. The reading signaled the ninth consecutive month of expansion in the economic activity of the sector. The …

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• 3 March 2021 7:12 pm

  U.S. Services PMI Records Best Rise in Six and a Half Years

  

  The United States services sector’s business activity index rose in February, recording its fastest expansion since July 2014, according to data by IHS Markit The seasonally adjusted final US services purchasing managers index (PMI) increased to 59.8 in February, up from 58.3 in January. The final reading for last month …

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• 3 March 2021 5:29 pm

  US: ADP Employment Change Arrives at +117K in February

  

  Employment in the US’ private sector increased by 117,000 in February, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. This reading fell short of the market expectation of 177,000. On a positive note, however, January’s reading got revised up to 195,000 from 174,000.

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