Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 22 March 2024 11:26 am

  Oil Prices Slip Amid Gaza Ceasefire Prospects and Dollar Strength

  

  Oil prices dipped on Friday amidst speculation of an imminent ceasefire in Gaza, potentially easing geopolitical tensions in the Middle East. Additionally, a stronger dollar and subdued U.S. gasoline demand weighed on market sentiment. Brent crude futures edged lower by 53 cents, or 0.6%, to $85.25 a barrel, while U.S. …

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• 22 March 2024 4:05 am

  Market Drivers; US Session, March 21

  

  As investors continued to process the most recent FOMC meeting and the prospect of three rate reduction by the Fed this year, risk aversion made a comeback on Thursday across markets and traded assets, giving the dollar additional impetus. Apart from that, the BoE maintained rates and hinted at potential …

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• 22 March 2024 2:52 am

  USD/JPY benefits from surging US bond yields

  

  USD/JPY took advantage of the positive correlation with US Treasury yields hitting a new high after yields on benchmark bonds showed a significant amount of consolidation throughout the trading day, on Thursday.US Treasury bond yields were able to consolidate in an upward trend on Thursday with the emergence of several …

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• 22 March 2024 2:07 am

  New Zealand’s exports, imports surge

  

  The seasonally-adjusted Trade Balance in New Zealand increased to $-11.99 billion YoY at the end of February, from the previous period’s $-12.62 billion. This was due to a little dip in January that was followed by a rise in both imports and exports in February. New Zealand’s trade gap, also …

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• 22 March 2024 12:39 am

  US stocks rose for the second day in a row following Powell’s remarks

  

  US stocks have continued to rise since the beginning of the North American trading on Thursday, with a boost of optimism left by expectations of an official interest rate cut by the Federal Reserve following the Fed’s announcement to keep the interest rate at the same levels without change one …

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• 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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