Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 21 March 2024 11:45 pm

  Sterling retreats on Dovish BoE, Stronger US Dollar

  

  The major central banks’ monetary policy announcements cause the pound sterling to plunge sharply against the US dollar, hitting a new low that hasn’t been seen in two weeks. The market took a wrong turn on Thursday after the Bank of England became more dovish. As of this writing, the …

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• 21 March 2024 11:20 pm

  Gold Retreats on Stronger US Dollar, Surging T-Yields

  

  On Thursday, the price of gold fell again, giving up some of its previous gains. The US dollar strengthened and US Treasury yields increased throughout this decline. The market’s change was influenced by the Federal Reserve’s decision on monetary policy on Wednesday. Even if the Fed recognized a robust economy …

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• 21 March 2024 9:41 pm

  Could Labour Market Trigger Chinese Economy’s Next Problem?

  

  The official jobless rate surged for the third straight month as a result of the economic boom in China. The increase in unemployment is part of a string of encouraging economic data that Beijing has revealed, including the fact that factory investment surged and industrial production increased dramatically in January …

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• 21 March 2024 7:16 pm

  Ahead of Halving, History Hints at a Likely Rally in Bitcoin

  

  Following a recent decline from its all-time high, bitcoin is last seen at $65507. Economists and analysts are discussing historical trends that point to the looming halving event that is anticipated in April in response to this price volatility.It is worth noting that Bitcoin reversed early losses and moved higher …

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• 21 March 2024 6:33 pm

  Congress Unveils Spending Plan to Avoid Partial Government Shutdown

  

  Congress finally revealed a $1.1 trillion spending plan to finance homeland security, defense, and other initiatives after many days of delays. Though Congress have less than 48 hours to take action, this move is an attempt to avoid a partial US government shutdown. The deal will be voted on by …

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• 21 March 2024 4:35 pm

  Turkish Central Bank Surprises Markets with Interest Rate Hike

  

  In a surprising move, the Turkish Central Bank raised its benchmark interest rate by 500 basis points, reaching a staggering 50%. This decision comes in contrast to market expectations of holding rates steady and marks the second meeting under the leadership of the new bank governor, Fatih Karahan. The move …

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• 21 March 2024 1:45 pm

  Pound Steadies Ahead of Bank of England Meeting

  

  On Thursday, the pound stabilized against the dollar as traders awaited the Bank of England’s meeting, widely anticipated to maintain UK rates, though uncertainty looms over its monetary policy outlook. This week sees a flurry of central bank decisions. Notably, the Bank of Japan surprised markets on Tuesday by abandoning …

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• 21 March 2024 12:49 pm

  Germany’s Economic Downturn Eases in March Amid Signs of Stabilization

  

  In March, Germany’s economic downturn showed signs of easing, with business activity in the country’s service sector approaching stabilization, according to a preliminary survey released on Thursday. The HCOB German Flash Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 47.4 in March from 46.3 in February. Although …

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• 21 March 2024 11:41 am

  Britain’s Budget Deficit Widens in February Due to Rising Costs and Past Inflation

  

  In February, Britain experienced a larger-than-expected budget deficit, driven by increased cost-of-living payments and the lingering impact of past inflation on public finances, according to official data released on Thursday. The public sector net borrowing, excluding state-owned banks, amounted to £8.401 billion last month, compared to £11.843 billion recorded a …

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• 21 March 2024 11:07 am

  Oil prices rise supported by a decline in US inventories of crude and gasoline

  

  Oil prices rose on Thursday after falling in the previous session, supported by a decline in crude and gasoline inventories in the United States after indications that the Federal Reserve (the US central bank) may keep interest rates high for a longer period, affecting expectations for future fuel demand. By …

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• 21 March 2024 10:33 am

  Gold Hits Record High on Fed’s Interest Rate Cut Pledge

  

  Gold prices surged to unprecedented levels on Thursday, driven by a decline in the dollar and bond yields following the Federal Reserve’s decision to maintain expectations of three interest rate cuts this year. The allure of gold strengthened as low interest rates diminished the opportunity cost of holding non-yielding bullion …

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• 21 March 2024 4:19 am

  Market Drivers – US Session, March 20

  

  The US Dollar Index (DXY), which had earlier risen above 104.00, eventually dropped later on Wednesday after FOMC decision, hitting lows of 103.00s. FOMC decision, to keep interest rate unchanged in March, significantly had an impact on market mood including the performance of US stocks as well as gold prices.Economic …

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• 21 March 2024 3:59 am

  AUD/USD advances following FOMC decision

  

  The Federal Reserve’s decision to hold rates unchanged and to adhere to the US monetary policy projection from the previous year, which suggests 75 basis points (bps) of rate cuts in 2024, caused the Australian dollar to leap 0.83% against the US dollar on Wednesday. The pair trades at 0.6595, …

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