Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 20 March 2024 3:21 pm

  Bitcoin Dips Below $62,000 Amidst Profit-Taking and ETF Outflows

  

  Bitcoin witnessed a decline on Wednesday, March 20, slipping to the level of $62,000 following significant sell-offs subsequent to the cryptocurrency’s recent record high. According to CoinDesk data, Bitcoin traded slightly above $62,900, marking a decrease of approximately 2.5% over the previous 24 hours. Despite this downturn, Bitcoin has demonstrated …

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• 20 March 2024 2:08 pm

  European Stocks Dip Amid Luxury Goods Sell-Off and Fed Uncertainty

  

  European stocks commenced trading on a lower note on Wednesday, with a flurry of selling impacting luxury goods companies following a warning from Kering regarding sales. Investor sentiment remained cautious amidst concerns that the Federal Reserve might indicate a slower pace for interest rate cuts this year. As of 0806 …

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• 20 March 2024 12:53 pm

  Yen Slips to Multi-Month Lows Against Major Currencies

  

  The yen dipped close to a four-month low against the US dollar and a 16-year low against the euro on Wednesday, driven by expectations of sustained accommodative monetary policy in Japan despite the Bank of Japan’s recent policy shift. On Wednesday, the yen touched its lowest level in four months …

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• 20 March 2024 12:31 pm

  Gold Prices Hold Steady Ahead of Fed Decision

  

  Gold prices remained steady on Wednesday as traders braced themselves for a pivotal monetary policy decision from the Federal Reserve, along with remarks from Chairman Jerome Powell. These events are anticipated to offer crucial insights into the outlook for interest rate adjustments throughout the year. At the close of spot …

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• 20 March 2024 11:05 am

  UK CPI inflation softens in February

  

  Data from the UK Office for National Statistics (ONS) showed that the Consumer Price Index (CPI), a key indicator of inflation, rose by 3.4% in the UK in February last year. This represents a slight decline from the 4.0% increase recorded in January 2016. in line with market expectations, Just …

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• 20 March 2024 10:30 am

  Oil Prices Dip in Asian Trading Amid Dollar Strength and Supply Considerations

  

  In early Asian trading on Wednesday, oil prices experienced a decline, influenced by a strengthening dollar, which dampened investor sentiment, particularly following recent rallies that propelled both benchmark crude oils to multi-month highs over the past two sessions. Price Movements Brent crude futures for May delivery dipped by 19 cents, …

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• 20 March 2024 5:21 am

  Market Drivers – US Session, March 19

  

  The US Dollar continued its recent strength, pushing the USD Index (DXY) above 104.00 earlier on Tuesday, though the gain was short-lived and it was last seen at 103.871. All eyes are now focusing on the Federal Reserve’s interest rate decision later Wednesday, along with their economic projections and Chair …

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• 20 March 2024 5:09 am

  Pound Holds Steady Ahead of Key Data, Rate Decisions

  

  The British Pound (GBP) is hovering around the 1.2700 mark, last seen at 1.2717, against the US Dollar (USD) on Wednesday morning, as investors brace themselves for crucial inflation data and interest rate decisions from both the UK and the US.FOMC, BoE’s Decisions AwaitedThe US Federal Reserve is widely expected …

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• 20 March 2024 4:21 am

  Bitcoin retreats After Record High: Correction or More to Come?

  

  On Tuesday, March 19, cryptocurrencies like Bitcoin and others were given a reality check. The market saw a correction last week after reaching a record high, with the price of Bitcoin falling by almost 6% in a single day. There are several variables that have combined to cause this decline. …

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• 20 March 2024 1:13 am

  Gold Price Dips on Strong Dollar, Awaits FOMC Decision

  

  Gold prices lost 0.13%, trading at $2157.575 at the time of writing. Gold retreated on Tuesday as the US Dollar strengthened ahead of the Federal Reserve’s highly anticipated policy meeting on Wednesday. Key Factors Influencing Gold A robust US Dollar makes gold a less attractive investment, as gold is priced …

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• 20 March 2024 12:27 am

  USD/JPY Continues to Rise Despite Japanese Rate Hike

  

  In the latest currency markets coverage, it was significant to see the dollar/yen pair breaking its positive correlation with US Treasury yields on Tuesday as the Bank of Japan’s decision to raise interest rates this morning overshadowed the factors influencing the yen’s price movement.The U.S. dollar has continued to rise …

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• 19 March 2024 11:19 pm

  US bond yields decline ahead of the Fed’s decision

  

  US Treasury bond yields have been declining since the start of the Federal Open Market Committee meeting earlier on Tuesday, with markets awaiting the FOMC decision to be issued, Wednesday, amid expectations that the Federal Reserve will keep the interest rate unchanged.Expectations of a rate cut by the Federal Reserve …

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• 19 March 2024 10:44 pm

  USD/CAD Climbs After Canadian Inflation Data

  

  The Canadian dollar dipped against its US counterpart after data revealed a steeper-than-expected decline in inflation. This has fueled speculation that the Bank of Canada may cut interest rates sooner than anticipated.Canadian Inflation Cools, Rate Cut Speculation Heats Up Canada’s Consumer Price Index (CPI) fell below the key 3% mark …

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