Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 23 March 2024 2:17 am

  US Stocks Notch Weekly Gains

  

  The US equity market witnessed volatility on Friday, resulting in a three-quarters of a percent decline in the Dow Jones and the S&P 500 retreating, -0.14%, around 0.6 percent, the market was testing down. With real estate down about 1.25% and the financial sector down 1.21% on the day, the …

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• 23 March 2024 1:38 am

  EUR/USD declines for second successive day

  

  The shared currency weakened against the US Dollar for the second day in a row, ending the week near its lowest point since early March.The Euro fell as much as 1.3% during North American trading earlier on Friday. But it was able to regain some of its losses, closing at …

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• 23 March 2024 12:00 am

  Gold prices pressured by rallying US dollar

  

  Gold has been declining since the beginning of daily trading on Friday, under pressure from the rise in the US dollar, which continues to benefit from the positive US data that was released on Thursday.The US manufacturing PMI rose to its highest level in three years this March. US home …

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• 22 March 2024 10:41 pm

  Eurozone expects economic recovery amid declining inflation

  

  Leaders of the European Union and the eurozone are cautiously hopeful about the upcoming economic recovery. The decreasing rates of inflation are the main driver of this optimism. They admitted that “economic activity is subdued in the near term” in a statement issued on Friday, but they also said that …

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• 22 March 2024 9:54 pm

  US Dollar rallies ahead of next week’s PCE data

  

  Despite dovish comments by Fed’s top official as well as declining US Treasury yields, investors are placing their bets on the easing cycle starting by June. At a solid 104.428, the US Dollar Index (DXY) is now trading at its highest point since mid-February. Data projections for the start of …

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• 22 March 2024 6:45 pm

  JPMorgan: Immigration has been boosting US economy, but underestimated

  

  The US central bank raised its forecast for GDP growth in 2024 from 1.4% in its December outlook to 2.1%, this was based upon the US economy’s continued resilience against the currently high interest rates as well as the efforts by the Fed to combat inflation, so far. The US …

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• 22 March 2024 5:31 pm

  Oil Prices Stabilize Above $85 Amid Gaza Truce Prospects

  

  Oil prices found stability on Friday, with Brent crude hovering above the $85 per barrel mark, buoyed by growing optimism about a potential ceasefire in Gaza. Brent crude futures remained virtually unchanged at $85.76 per barrel, while US West Texas Intermediate crude futures edged up slightly to $81.08 per barrel …

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• 22 March 2024 2:22 pm

  German Business Morale Improves in March

  

  In a surprising turn, German business morale saw improvement in March, surpassing analyst expectations, according to a survey released on Friday by the Ifo institute. Despite this positive development, concerns persist about the possibility of Europe’s largest economy slipping into another recession. The Ifo business climate index rose to 87.8, …

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• 22 March 2024 1:05 pm

  Nikkei Hits Record High as Automaker Rally Boosts Market

  

  Japan’s Nikkei index reached an all-time high on Friday, propelled by record gains on Wall Street and a surge in automaker stocks driven by a weakening yen. The Nikkei climbed 0.18 percent to close at 40,888.43, briefly touching 41,087.75 during the session, surpassing its previous peak. This milestone comes as …

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• 22 March 2024 12:52 pm

  German Residential Property Prices Experience Record 8.4% Decline in 2023

  

  Data released on Friday revealed that residential property prices in Germany plummeted by 8.4% in 2023 compared to the previous year, marking a significant downturn for the real estate sector in Europe’s largest economy. This decline represents the largest drop since Germany’s statistics office began keeping records in 2000, highlighting …

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• 22 March 2024 12:07 pm

  British Retail Sales Remain Steady in February

  

  British retail sales defied expectations by holding steady in February, following a revised 3.6% increase in January, according to figures released by the Office for National Statistics on Friday. Economists surveyed by Reuters had anticipated a 0.3% decline in sales volumes for the month. Heather Bovill, senior statistician at the …

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• 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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