Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 13 March 2024 12:03 am

  Oil prices marginally decline following predicted surge in US output

  

  Oil prices fell slightly on Tuesday due to a higher-than-expected forecast for US crude oil production and bearish economic data. Brent futures for May delivery settled 29 cents, -0.34% lower, at $82.13 per barrel, while the April US West Texas Intermediate crude contract ended 15 cents, -0.21% lower, at $77.77 …

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• 12 March 2024 11:16 pm

  Gold retreats for the first time in ten sessions

  

  Gold has been declining since the beginning of daily trading on Tuesday, under pressure from the rise in the US dollar. The dollar found momentum after Tuesday’s US inflation data that shed light on the rise in consumer prices to levels higher than expectations last February.The precious metal slumped -1.31% …

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• 12 March 2024 10:16 pm

  What does CPI print mean for Fed’s rate policy?

  

  The CPI report’s inflation data reveals greater price growth in February, indicating that the road to more reasonable consumer price increases following a pandemic-induced jump may remain rough. According to the Labour Department’s consumer price index, overall prices increased 3.2% over the previous year, slightly higher than 3.1% in January. …

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• 12 March 2024 9:10 pm

  US stocks advance following CPI data

  

  Despite higher-than-expected February inflation data, US stocks continued to rise, with the S&P 500 rising nearly 1%, the Nasdaq Composite climbing 1.4%, and the Dow Jones Industrial Average increasing 0.6%. Treasury yields also rose, with the 10-year yield rising 4 basis points to trade around 4.15%. Gold prices fell 1% …

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• 12 March 2024 6:01 pm

  USD Slips Following Release of Inflation Data

  

  The U.S. dollar remained relatively stable amidst turbulent trading on Tuesday, initially strengthening earlier in the global session. However, it later retraced its gains following the release of data indicating higher-than-expected inflation in the world’s largest economy. Following the data release, the greenback experienced an initial surge but subsequently declined. …

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• 12 March 2024 5:31 pm

  US CPI inflation rises to 3.2% in February vs. 3.1% expected

  

  The US Bureau of Labour Statistics (BLS) stated on Tuesday that inflation, as measured by the change in the Consumer Price Index (CPI), increased to 3.2% on an annual basis in February from 3.1% in January. Annual Core CPI, which excludes volatile food and energy costs, rose 3.8% during the …

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• 12 March 2024 4:10 pm

  Pound Sterling Declines Amid Labor Market Data, Profit-Taking

  

  Correction and Profit-Taking Processes Drive Sterling Lower In the European market on Tuesday, the pound sterling faced downward pressure against a basket of global currencies, extending losses for the second consecutive day against the US dollar. This decline comes as the pound moves away from its eight-month high, driven by …

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• 12 March 2024 2:04 pm

  Yen Sees Largest Decline in a Month Against Dollar

  

  Japanese Officials’ Comments Dampen Expectations of Policy Shift The yen experienced its most substantial daily decline against the dollar in a month on Tuesday, following remarks from Japanese officials that tempered expectations of an imminent shift in monetary policy by the Bank of Japan (BOJ). Dollar Stable Ahead of US …

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• 12 March 2024 1:06 pm

  European Shares Rise on Strong Earnings Amidst Awaited U.S. Inflation Data

  

  Market Optimism Supported by Corporate Performance European shares commenced trading on a positive note on Tuesday, buoyed by robust corporate earnings, while investors remained attentive to forthcoming U.S. inflation data for insights into the Federal Reserve’s stance on interest rate adjustments. STOXX 600 Approaches Record High The pan-European STOXX 600 …

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• 12 March 2024 12:22 pm

  Gold Prices Retreat from Record Highs Ahead of Key U.S. Inflation Data

  

  Traders Take Profits Amid Anticipation of Interest Rate Factors Gold prices experienced a decline in Asian trade on Tuesday, stepping back from recent record highs as traders locked in profits ahead of the release of key U.S. inflation data. The anticipated CPI figures are expected to significantly influence the trajectory …

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• 12 March 2024 11:29 am

  Asian Currencies Stagnate as Market Awaits U.S. Inflation Data

  

  Japanese Yen Weakens Amidst BOJ Comments, Other Asian Currencies Remain Stable On Tuesday, most Asian currencies saw minimal movement while the dollar stabilized as markets awaited crucial U.S. inflation data, which could offer indications of the Federal Reserve’s stance on interest rates. Japanese Yen Retreats After BOJ Comments The Japanese …

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• 12 March 2024 2:35 am

  Is Bitcoin’s Recent Rally Just A Beginning?

  

  The BTC/USD pair has risen past $72,000, setting a new record, but this is a long way from the top that some analysts of the biggest cryptocurrency in the world had predicted. By year’s end, Standard Chartered believes bitcoin will hit $100,000, while research company Fundstrat has set a target …

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• 12 March 2024 2:11 am

  Market Drivers – US Session, March 11

  

  In the commodity market, WTI crude oil prices maintained their consolidative stance in the commodities market, circling the pivotal 200-day SMA and attempting to break through the $78.00 region. At $77.77 per barrel, US crude oil was last observed up 0.53%. Tuesday’s weekly update on US crude oil stocks as …

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