Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 8 March 2024 6:59 pm

  Could MFP data reinforce rate cut scenario?

  

  The US jobs data released on Friday revealed an improvement in the performance of the US economy in general during February, as labor market forces began to weaken with a decline in wage growth, which supports bets on interest rate cut by the Federal Reserve by June or even May …

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• 8 March 2024 6:28 pm

  US Nonfarm Payrolls Surpass Expectations, Unemployment Rate Rises

  

  The US Bureau of Labor Statistics (BLS) reported a robust increase in Nonfarm Payrolls (NFP) for February, exceeding market forecasts. However, certain indicators reflected mixed signals, with the Unemployment Rate climbing while wage inflation moderated compared to previous readings. Key Figures In February, Nonfarm Payrolls surged by 275,000, surpassing market …

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• 8 March 2024 3:17 pm

  European Stocks Open Steady Amid Caution Ahead of Key Economic Data

  

  European stocks commenced Friday’s trading session with a muted performance as a surge in energy stocks countered cautious investor sentiment ahead of pivotal economic data releases from both the euro zone and the United States. STOXX 600 Holds Steady The European STOXX 600 index remained stable as of 0816 GMT, …

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• 8 March 2024 12:31 pm

  Nikkei Ends Week Lower Amid Profit-Taking and Speculation on Bank of Japan’s Policy Shift

  

  Japan’s Nikkei index concluded the week on a lower note, experiencing profit-taking activities and heightened speculation surrounding the Bank of Japan’s potential departure from ultra-loose monetary policies, marking its first weekly decline in six weeks. Friday’s Market Performance The Nikkei index managed to close slightly higher on Friday, edging up …

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• 8 March 2024 11:38 am

  Dollar Weakens Amid Fed’s Rate Cut Signals; Yen Strengthens on Japan’s Rate Hike Speculation

  

  On Friday, the dollar was poised to mark its most significant weekly decline of the year, propelled by comments from the head of the Federal Reserve signaling a growing confidence in interest rate cuts in the upcoming months. Meanwhile, the yen surged amidst mounting speculation surrounding potential interest rate hikes …

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• 8 March 2024 11:03 am

  Oil Prices Gain Momentum Amidst Growing Demand from Top Consumers

  

  Oil prices experienced an upward trajectory on Friday, buoyed by robust demand from the United States and China, the world’s leading oil consumers. This surge coincides with a positive signal from the Federal Reserve, indicating potential interest rate cuts. Brent Crude Futures Surge Brent crude futures saw a notable increase …

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• 8 March 2024 10:37 am

  Gold Prices Set for Significant Weekly Surge Amidst Fed Chairman’s Comments

  

  On Friday, gold prices are positioned to achieve their most substantial weekly surge in five months, nearing their all-time high, following statements by Federal Reserve Chairman Jerome Powell that have reinforced expectations of interest rate cuts mid-year. Record-Breaking Momentum In spot transactions, gold prices experienced minimal change, maintaining a robust …

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• 8 March 2024 5:14 am

  Market Drivers – US Session, March 7

  

  WTI crude oil prices continued their consolidative trend in the commodities market, hovering around $80.00 per barrel, amid anticipation of a rate cut by the Federal Reserve and higher crude oil imports by China in January and February.Gold prices continued to rise, surpassing $2,160 per ounce to reach an all-time …

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• 8 March 2024 5:00 am

  Crypto rally continues as fresh all-time highs enthusiastically eyed

  

  Early on Thursday, traders saw a surge in the price of bitcoin as bulls began to reduce their stakes in the biggest cryptocurrency in the world. It peaked earlier on Tuesday at $69,202, then later on Wednesday, it dropped to about $60,000.The digital currency has experienced a spectacular rise, rising …

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• 8 March 2024 2:47 am

  To Which Financial Assets Could NFP Data Bring Good News?

  

  The US jobs print on Friday could impact the Fed’s future policy course. A dismal NFP could weaken the US dollar further, and attention might be drawn to the dollar’s major pairs, to determine which assets are winners and which losers. While GBP awaits fiscal clues, policy direction from China …

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• 8 March 2024 1:27 am

  S&P 500 hits fresh record, Nasdaq advances ahead of NFP

  

  Ahead of the jobs data on Friday, and in the midst of carefully watched testimony from Fed Chair Jerome Powell, US equities continued to rise on Thursday, with the S&P 500 reaching a new record high.Once again, tech stocks led the way, as the Nasdaq increased by up to 1.5% …

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• 7 March 2024 11:05 pm

  European stocks close higher after ECB inflation estimate, rate decision

  

  Thursday’s closing European market gains came following the European Central Bank’s revised inflation estimate, which restarted the 2024 surge. The pan-European Stoxx 600 broke above the crucial 500 threshold for the first time during the session, and it ended the day 1.05% higher at 503.45 points.The European Central Bank reduced …

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• 7 March 2024 9:57 pm

  Better than expected Chinese trade data boost NZD/USD

  

  Better than expected Chinese trade data boost NZD/USD New Zealand Dollar rises over 0.65% after the release of much better than expected trade data from China; the country’s chief trading partner. The data indicates a probable increase in demand for New Zealand goods from mainland China. Charts are showing the …

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