Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 8 March 2023 3:06 pm

  Continental forecasts 2023 profit margin improvement, sending shares higher

  

  Shares of Continental AG increased on Wednesday after the German tyre manufacturer said it anticipated better profitability for its 2023 fiscal year as the automotive industry recovered from supply chain and logistical issues. The adjusted profit before interest and tax margin for the current 12-month period is expected to be between …

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• 8 March 2023 2:14 pm

  China’s passenger car sales in February rose 10.4% year on year

  

  China’s passenger car sales totaled 1.42 million units in February, data from the China Passenger Car Association showed on Wednesday, up 10.4 percent from the same period in 2022 when the week-long Lunar New Year holiday led to a decline in business activities. It said car sales in the first …

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• 8 March 2023 1:23 pm

  European stocks drop as Powell signals a larger interest rate hike

  

  European stocks fell on Wednesday after Federal Reserve Chairman Jerome Powell said there was a possibility of more sharp interest rate increases, while sportswear company Adidas fell after announcing plans to cut its annual dividend. The pan-European Stoxx 600 index fell 0.3 percent by 0805 GMT, hitting its lowest level …

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• 8 March 2023 11:45 am

  Gold records its lowest level in a week after Fed

  

  Gold prices fell to a one-week low on Wednesday after Federal Reserve Chairman Jerome Powell said that it would likely take a higher-than-expected interest rate hike to curb inflationary pressures. Gold fell 0.1 percent in spot transactions to $ 1812.44 an ounce by 0634 GMT. US gold futures also fell …

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• 8 March 2023 11:19 am

  Oil stabilizes after falling US inventories dispel interest rate concerns

  

  Oil prices were steady in early Asian trading on Wednesday, as industry data showed a drawdown in US crude inventories after the market fell in the previous session on fears that further sharp increases in US interest rates could hurt demand. Brent crude futures for April were up 8 cents …

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• 8 March 2023 4:30 am

  Market Drivers – US Session 07/03/2023

  

  Gold price outlook has deteriorated by extremely hawkish Fed Powell’s comments on Tuesday. S&P500 retreated on the prevalent dismal market mood as more rates from the Fed do a lot to confirm a US recession. At the time of writing, gold is trading at 1812.63 per ounce. The Gold Index …

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• 8 March 2023 4:16 am

  Gold price could fall below $1,810 as Fed sets the scene for higher rate

  

  Gold price outlook has deteriorated by extremely hawkish Fed Powell’s comments on Tuesday. S&P500 retreated on the prevalent dismal market mood as more rates from the Fed do a lot to confirm a US recession.At the time of writing, gold is trading at 1812.63 per ounce. The Gold Index (XAU/USD) …

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• 8 March 2023 1:42 am

  Fed’s Powell set the scene for tighter conditions, faster rate hikes

  

  According to Fed Chair Jerome Powell, the Fed is ready to take more drastic action if the “totality” of incoming data shows that more stringent policies are needed to manage inflation. In response to recent good statistics, the Federal Reserve will probably need to increase interest rates more than expected.“The …

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• 7 March 2023 11:40 pm

  USD/CAD climbs to 4-month highs above 1.3755

  

  With Powell’s hawkish stance, the USD/CAD pair rises beyond the 1.3755 mark and is now approaching 1.3800 after trading at 4-month highs. The pair is trading at 1.3759 at the time of writing versus the previous closing at 1.3611 on Monday. On the strength of Jerome Powell’s remarks, the USD/CAD …

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• 7 March 2023 10:50 pm

  GBP/USD nosedived on hawkish remarks by Fed Chair

  

  GBP/USD dropped more than 150 pips and fell from 1.2000 to 1.1840s. Hawkish comments by the US Fed Chair Jerome Powell at the Senate keeps investors assessing a 50 bps hike in March.The pair is now retreating over 100 pips as Powell testifies at the US Senate on Tuesday. The …

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• 7 March 2023 9:26 pm

  Powell’s comments spark fears on Wall Street of higher rates for longer

  

  US stocks sharply sold off on Tuesday following the comments by Fed Chair Jerome Powell who suggested that rates may need to go higher for longer, fueling fears of a potentially larger rate hike at the central bank’s March policy meeting.The Dow Jones Industrial Average was last down 402 points, …

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• 7 March 2023 8:44 pm

  Fed’s Powell: Overall data on labour market shows it is extremely tight

  

  Fed Chair Jerome Powell is delivering his bi-annual testimony before the US Senate. He presents the Monetary Policy Report before the Q&A session with senators. The US dollar, stock markets as well as all other asset could be on the move with Powell’s words. The US Dollar’s bullish rally remains …

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• 7 March 2023 7:53 pm

  EUR/USD retreats as US Dollar Index jumps on Fed Powell’s remarks

  

  Fed’s Powell has indicated that the central bank is Ready to increase pace of rate hikes if incoming data suggests faster tightening is required. Markets see hawkish bias in Powell’s remarks, US Dollar soars.EUR/USD tumbles more than 50 pips. The EUR/USD lost more than 50 pips after the release of …

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