Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 8 March 2024 10:42 pm

  US bond yields decline following wage growth slowdown

  

  Benchmark US Treasury bond yields declined at the end of Friday’s trading session following the employment data that painted a bleak picture of the labour market in the United States last February.Ten-year US Treasury bond yields fell to 4.080%, compared to the last daily close, which at 4.085%. The index …

  Read More »
• 8 March 2024 9:07 pm

  Gold Price Soars on Rate Cut Expectations, Jobs Data

  

  Gold prices have been rising due to expectations for US rate cuts, geopolitical tensions, and China’s economic woes. Gold futures rose 1.04% to $2,182.55 per ounce at the time of writing, reflecting bullish sentiment in the gold market. The Chinese central bank’s gold purchases as well as the country’s domestic …

  Read More »
• 8 March 2024 7:58 pm

  US Dollar stabilizes lower after upbeat NFP print

  

  The US dollar was expected to end the week at a significant loss, but on Friday it recovered some of its losses after the US Jobs report for February revealed an increase in unemployment and businesses’ reluctance to pay more for labour force. As of this writing, the US Dollar …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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, …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »