Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 19 March 2024 7:19 am

  Strong Housing Data Pushes US Dollar Higher Ahead of FOMC Decision

  

  Positive signs emerged from the US housing market as both Housing Starts and Building Permits in February surpassed expectations. This data bolstered the US Dollar Index (DXY) which climbed to its highest point since early March, currently hovering around 104.00; specifically 0.05% up at 103.836.All eyes are now on the …

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• 19 March 2024 2:52 am

  Market Drivers – US Session, March 18

  

  The US Dollar kicked off the week on a strong note, fueled by rising US Treasury yields and diminishing expectations of an interest rate cut by the Federal Reserve in June. This greenback surge weighed on riskier assets, pushing the Euro (EUR/USD) below 1.0900, a multi-day low.The Dollar Index (DXY) …

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• 19 March 2024 2:28 am

  Standard Chartered Raises BTC Price Forecast for 2024

  

  Standard Chartered raised anticipation regarding Bitcoin’s price during the remaining months in 2024, the bank sees the new estimate on the back of exchange-traded funds, broadly known as ETFs, driven positive market conditions. The bank previously predicted that Bitcoin could hit $100,000 by year-end. The current estimate is even higher …

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• 19 March 2024 1:59 am

  Oil Soars on Mounting Supply Concerns, WTI Hits 16-Week High

  

  Oil prices are rallying, reaching their highest point since last November. West Texas Intermediate (WTI), a leading indicator for American crude, surpassed the $82 per barrel mark for the first time in months.This surge is fueled by escalating concerns about a potential oil shortage. Despite record output from non-OPEC nations …

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• 19 March 2024 12:53 am

  RBA Rate Decision: Holding Steady Amid Tax Cuts, Uncertain Fed Stance

  

  The Reserve Bank of Australia (RBA) is set to announce its interest rate decision on Tuesday, March 19th, 2024, at 2:30 PM Sydney time. This decision will be closely watched by businesses, borrowers, and investors for its impact on the Australian economy.Market Expectation: Holding ScenarioFinancial markets overwhelmingly anticipate the RBA …

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• 18 March 2024 11:37 pm

  US Stock Market Rebounds Led by Tech Surge

  

  The stock market closed higher on Monday, reversing recent losses, particularly in the tech sector. This shift came as investors awaited developments in artificial intelligence (AI) and upcoming guidance from the Federal Reserve. Market Gains: All major indices rose. The Dow Jones Industrial Average gained 0.2%, the S&P 500 climbed …

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• 18 March 2024 10:54 pm

  Gold Inches Upward as Investors Eye Cautious Fed Move

  

  Gold prices edged higher on Monday, reflecting market prudence ahead of pivotal events including the highly anticipated FOMC meeting on Wednesday. The yellow metal (XAU/USD) gained roughly 0.2% in early New York afternoon trading, finding support near the technical level of $2150. At the time of writing, the precious spot …

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• 18 March 2024 9:26 pm

  US Dollar Starts Policy Decision’s Week with Gains

  

  The dollar is seeing gains ahead of FOMC decision. The DXY Index is 0.16% up on the day, trading at 103.612 at the time of writing. As for the broader context for this performance, FOMC decision will attempt to maintain balancing between inflation and growth.Despite recent gains, the DXY remains …

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• 18 March 2024 6:48 pm

  Canadian Dollar Braces for Busy Week: Central Banks in Focus

  

  The Canadian Dollar began the new trading week cautiously on Monday, as investors are preparing for a whirlwind of policy decisions by central banks around the world, which could significantly impact the Loonie’s price action. The Loonie is 0.04% up on the day, trading at 1.354 at the time of …

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• 18 March 2024 5:49 pm

  Anticipation Peaks Ahead of BoJ’s March Meeting: A Potential Policy Shift Looms

  

  As the world watches, all eyes are on the Bank of Japan (BoJ) ahead of its March meeting scheduled for tomorrow, Tuesday. Market sentiment is rife with growing expectations that the BoJ might herald the end of negative interest rates, marking a significant departure from the prolonged era of quantitative …

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• 18 March 2024 3:49 pm

  Oil Prices Rise Amid Escalating Ukraine-Russia Conflict

  

  Oil benchmark Brent edged close to the $86 per barrel threshold on Monday, building upon gains from the previous week, as Ukraine intensified attacks on Russian energy infrastructure. Key Points: Brent Crude Performance: Brent crude oil futures for May delivery rose by 62 cents, or 0.7%, reaching $85.96 a barrel …

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• 18 March 2024 1:22 pm

  European Stocks Open Slightly Higher Amidst Caution

  

  European stocks opened with modest gains on Monday, with the basic resources sector leading the way, albeit tempered by investor caution ahead of euro zone inflation data. Key Points Market Movement: The European STOXX 600 index rose 0.1 percent by 0816 GMT, with the basic resources sector experiencing the most …

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• 18 March 2024 12:33 pm

  Forex: Dollar Stabilizes Ahead of Central Bank Meetings Worldwide

  

  On Monday, the dollar steadied as traders braced for a week dominated by central bank meetings across the globe, with particular focus on policy developments in Japan and the United States. Bank of Japan’s Policy Shift Attention is squarely on the Bank of Japan, with indications suggesting a potential end …

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