Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 28 March 2024 6:49 pm

  Oil Prices Rebound as OPEC+ Expected to Maintain Production Cuts

  

  Oil prices regained ground on Thursday, reversing two consecutive sessions of decline, as investors anticipated tighter supplies amid expectations that the OPEC+ producer alliance would continue with its current production cuts. Brent crude futures for May climbed $1.23, or 1.4%, to reach $87.32 a barrel, while the June contract rose …

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• 28 March 2024 6:43 pm

  Aussie Clings to Support as US Dollar Retreats Despite Strong US Data

  

  On Thursday, the Australian dollar found brief support around the $0.6500 level, despite continuing downward trends. The upwardly revised US economic growth data made little to change the downtrend, as the US Dollar declined from a six-week high.The Reserve Bank of Australia’s (RBA) recent interest rate hikes have made Australia’s …

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• 28 March 2024 5:48 pm

  US Initial Jobless Claims Decline to 210,000

  

  The latest weekly data published by the US Department of Labor (DOL) on Thursday revealed that initial jobless claims for the week ending March 23 totaled 210,000. This figure marked a decline from the previous week’s revised print of 212,000 (initially reported as 210,000) and surpassed market expectations, which had …

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• 28 March 2024 5:17 pm

  U.S. Q4 GDP Growth Revised Upward to 3.4%

  

  The United States economy exhibited stronger-than-previously-reported growth in the fourth quarter of 2023, propelled by robust consumer spending and increased business investment in nonresidential structures, according to the latest data from the Commerce Department’s Bureau of Economic Analysis. Gross domestic product (GDP) expanded at an annualized rate of 3.4% in …

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• 28 March 2024 5:16 pm

  After Bitcoin, which crypto assets are expected to see insane run?

  

  Crypto analysts are bullish on Chainlink coin (LINK) in the aftermath of the successful collaboration between Chainlink Labs and ANZ Banking Group. While Bitcoin and Ethereum dominate headlines with unprecedented surges, Chainlink’s growing adoption in traditional finance could lead to a significant price surge.ANZ’s RoleANZ streamlined the acquisition of tokenized …

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• 28 March 2024 4:59 pm

  Japanese PM Kishida Stresses Importance of Maintaining Accommodative Monetary Policy

  

  Japanese Prime Minister Fumio Kishida emphasized on Thursday the necessity for the central bank to uphold accommodative monetary conditions, underscoring the government’s commitment to supporting economic recovery and defeating deflation. In a news conference, Kishida affirmed that the government would sustain close coordination with the Bank of Japan (BOJ) to …

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• 28 March 2024 3:42 pm

  U.S. Stock Futures Flat Ahead of Easter Break

  

  U.S. stock index futures remained subdued on Thursday amid light trading activity ahead of the Easter break, as investors awaited additional data to assess the Federal Reserve’s policy direction on the final business day of a robust first quarter. The three main indexes were poised for significant quarterly gains, driven …

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• 28 March 2024 3:07 pm

  U.S. Dollar Gains on Hawkish Fed Comments; Euro and Sterling Weaken

  

  In European trading on Thursday, the U.S. dollar strengthened following hawkish remarks from a Federal Reserve official, while disappointing economic data weighed on the euro and sterling. At 05:30 ET (09:30 GMT), the Dollar Index, which measures the dollar against a basket of six other major currencies, traded 0.3% higher …

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• 28 March 2024 1:41 pm

  German Unemployment Rises Less Than Expected in March

  

  The latest data from the Federal Labour Office revealed that the number of unemployed individuals in Germany saw a modest increase in March, falling short of analysts’ expectations. According to the figures released on Thursday, the number of unemployed individuals grew by 4,000 in seasonally adjusted terms, reaching a total …

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• 28 March 2024 1:19 pm

  European Stocks Nudge Upward Ahead of Easter Weekend Break

  

  European equities saw a modest uptick at the opening bell on Thursday, marking a positive start as investors prepared for the long Easter weekend hiatus. The pan-European STOXX 600 index edged 0.1% higher, hitting a new record high by 0823 GMT. This gain signals the index’s potential for a second …

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• 28 March 2024 1:08 pm

  British Economy Enters Recession Amidst Election Uncertainty

  

  Official data released on Thursday confirmed that the British economy slipped into a mild recession last year, posing a significant challenge for Prime Minister Rishi Sunak as he seeks to reassure voters about the economy’s stability ahead of anticipated elections later this year. According to the Office for National Statistics …

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• 28 March 2024 1:03 pm

  Gold Prices Stabilize as Investors Weigh Fed Comments and Await Economic Data

  

  Gold prices remained steady on Thursday as investors absorbed remarks from Federal Reserve Governor Christopher Waller regarding potential interest rate cuts, while also eagerly anticipating upcoming US economic data to discern the trajectory of monetary policy. In spot transactions, gold edged up by 0.1 percent to reach $2,195.59 per ounce, …

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• 28 March 2024 10:02 am

  Oil Prices Recover as Investors Reevaluate US Inventory Data

  

  Oil prices regained ground on Thursday, rebounding from losses incurred over the past two sessions, as market participants took a second look at the latest US crude oil and gasoline inventory reports. The reevaluation comes amid ongoing geopolitical tensions and shifting sentiments regarding global supply and demand dynamics. Brent Crude …

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