Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 4 March 2024 4:36 pm

  Oil stabilizes after OPEC+ extends production cuts

  

  Oil prices remained relatively steady on Monday following the decision by the OPEC+ alliance to extend voluntary production cuts until the end of the second quarter, in line with market expectations. Brent crude futures edged down by 14 cents to $83.41 per barrel by 1035 GMT, after experiencing a 2.4 …

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• 4 March 2024 3:13 pm

  European stocks are stable ahead of the European Central meeting

  

  European stocks kicked off the week with little change as investors maintained caution ahead of the upcoming European Central Bank (ECB) monetary policy meeting later in the week. Although a rise in technology stocks partly offset losses in other sectors, the overall sentiment remained flat. The European STOXX 600 index …

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• 4 March 2024 2:28 pm

  Gold is near a two-month peak, supported by growing hopes for a US interest rate cut in June

  

  On Monday, March 4, gold prices remained near their highest levels in two months, buoyed by disappointing economic indicators from the United States last week, which raised expectations of a potential interest rate cut by the US Federal Reserve in June. At 06:30 GMT, spot gold edged down 0.1 percent …

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• 4 March 2024 12:57 pm

  Japan’s Nikkei exceeds 40,000 points, supported by rising investor sentiment

  

  On Monday, March 4, Japan’s Nikkei index achieved a historic milestone, surpassing 40,000 points for the first time, propelled by corporate governance reforms and robust valuations that have attracted sustained interest from global investors. Benefiting from a surge in the technology sector, mirroring gains seen in US markets, the Nikkei …

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• 4 March 2024 12:04 pm

  USD awaiting Fed, Bitcoin is at the highest level in two years

  

  On Monday, the US dollar traded within a narrow range, facing pressure from declining Treasury bond yields as investors awaited key economic data for clues on the Federal Reserve’s potential interest rate cuts. Bitcoin surged to its highest levels in over two years, buoyed by significant inflows into cryptocurrency funds …

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• 4 March 2024 11:36 am

  Annual inflation in Turkey rose beyond expectations to about 67% in February

  

  In February 2024, annual inflation rates in Turkey surged to 67.07%, slightly surpassing expectations of 65.74%. This uptick followed a modest increase in January of the same year, where inflation stood at 64.86%. Over the period spanning from 1965 to 2024, Turkey has experienced an average inflation rate of 35.06%. …

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• 4 March 2024 10:26 am

  Oil rises after OPEC+ extends production cuts

  

  Oil prices increased on Monday following the decision by OPEC+ member countries to extend their voluntary production cuts by 2.2 million barrels per day for the second quarter of the year, aligning with market expectations. At 0134 GMT, Brent crude futures climbed by 28 cents, or 0.3 percent, reaching $83.83 …

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• 4 March 2024 6:09 am

  Weekly Recap: US inflation dominates the market

  

  Last week, the financial markets were shaped by significant data releases across several major economies, notably the United States and the eurozone. In the eurozone, data published by the European Statistics Office (Eurostat) on Friday indicated that the region’s annual harmonized consumer price index (HICP) rose by 2.6% in February, …

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• 2 March 2024 1:02 am

  US stocks surge on improved risk appetite

  

  US stocks experienced a surge in intraday records, with the S&P 500 and Nasdaq reaching new highs. The Nasdaq set a new intraday record, surpassing its November 2021 peak of 16,212.23. Technology stocks, particularly Nvidia and AMD, saw significant gains, with shares climbing 3.73% and 4.82% respectively. The Philadelphia semiconductor …

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• 1 March 2024 11:10 pm

  Gold gains momentum on softer dollar following PMIs

  

  Friday’s gold market surge is still going strong since all of the market’s moving parts appear to be pointing towards higher prices in the end. The price of the precious metal has increased by 2.08% to $2086.50 per ounce as of this writing.The early hours of Friday saw a slight …

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• 1 March 2024 9:22 pm

  US dollar retreats after lower-than-expected PMI reading

  

  The US Dollar Index traded in a downward trend at 103.7, before recovering, at the time of writing, to 103.895, denoting a decline of 0.24%, and representing a weak end to the trading week.The US ISM Manufacturing PMI fell disappointingly at 47.8, far from expectations of a 49.5 mark. Expectations …

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• 1 March 2024 8:59 pm

  Fed: Inflation expectations are broadly consistent with 2% goal

  

  The latest Monetary Policy Report from the US Fed highlights the US central bank’s stance on the current economic and inflation outlook, and what it will take for Fed policymakers to feel comfortable enough to begin cutting interest rates.Key highlightsInflation expectations are broadly consistent with 2% goal.Labour market remains tight, …

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• 1 March 2024 7:40 pm

  Economists see little influence of likely shutdown on the US dollar

  

  Another shutdown is looming in the United States. What does all this mean for the US dollar? Economists analyze dollar’s performance outlook.This is not the first time that a federal government shutdown is looming in the United States. There have also been longer actual shutdowns until an agreement was reached …

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