Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 28 March 2024 3:07 pm

  U.S. Dollar Gains on Hawkish Fed Comments; Euro and Sterling Weaken

  

  In European trading on Thursday, the U.S. dollar strengthened following hawkish remarks from a Federal Reserve official, while disappointing economic data weighed on the euro and sterling. At 05:30 ET (09:30 GMT), the Dollar Index, which measures the dollar against a basket of six other major currencies, traded 0.3% higher …

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• 28 March 2024 1:41 pm

  German Unemployment Rises Less Than Expected in March

  

  The latest data from the Federal Labour Office revealed that the number of unemployed individuals in Germany saw a modest increase in March, falling short of analysts’ expectations. According to the figures released on Thursday, the number of unemployed individuals grew by 4,000 in seasonally adjusted terms, reaching a total …

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• 28 March 2024 1:19 pm

  European Stocks Nudge Upward Ahead of Easter Weekend Break

  

  European equities saw a modest uptick at the opening bell on Thursday, marking a positive start as investors prepared for the long Easter weekend hiatus. The pan-European STOXX 600 index edged 0.1% higher, hitting a new record high by 0823 GMT. This gain signals the index’s potential for a second …

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• 28 March 2024 1:08 pm

  British Economy Enters Recession Amidst Election Uncertainty

  

  Official data released on Thursday confirmed that the British economy slipped into a mild recession last year, posing a significant challenge for Prime Minister Rishi Sunak as he seeks to reassure voters about the economy’s stability ahead of anticipated elections later this year. According to the Office for National Statistics …

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• 28 March 2024 1:03 pm

  Gold Prices Stabilize as Investors Weigh Fed Comments and Await Economic Data

  

  Gold prices remained steady on Thursday as investors absorbed remarks from Federal Reserve Governor Christopher Waller regarding potential interest rate cuts, while also eagerly anticipating upcoming US economic data to discern the trajectory of monetary policy. In spot transactions, gold edged up by 0.1 percent to reach $2,195.59 per ounce, …

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• 28 March 2024 10:02 am

  Oil Prices Recover as Investors Reevaluate US Inventory Data

  

  Oil prices regained ground on Thursday, rebounding from losses incurred over the past two sessions, as market participants took a second look at the latest US crude oil and gasoline inventory reports. The reevaluation comes amid ongoing geopolitical tensions and shifting sentiments regarding global supply and demand dynamics. Brent Crude …

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• 28 March 2024 7:32 am

  Market Drivers; US Session, March 27

  

  Amidst minor retreats in risk-linked assets, the US dollar maintained its positive outlook and maintained the consolidating atmosphere near the upper end of its recent range. As the spot approached the 152.00 level, worries over possible FX intervention surrounding the USD/JPY continued to grow. Additional gains helped to keep the …

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• 28 March 2024 1:12 am

  Baltimore Bridge Collapse Has Limited National Economic Impact

  

  Although the collapse of the Francis Scott Key Bridge in Baltimore is considered a significant setback, a number of experts believe that the US economy as a whole is unlikely to be severely damaged. Nonetheless, a thorough investigation of this incident’s effects is necessary.Impact on the Nation Mostly Controllable Minimal …

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• 28 March 2024 12:09 am

  EUR/USD finds support amid ECB dovish signals

  

  The EUR/USD pair found support despite the dovish move by the ECB and conflicting signals from Fed officials. ECB officials give a dovish tone to the policy outlook during wage inflation talks, hinting at a possible rate decrease in June. The US GDP and core PCE inflation numbers are anticipated …

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• 27 March 2024 11:20 pm

  Gold Surges on Fed Rate Cut Speculation, Traders Eying $2,200

  

  Wednesday’s North American session is witnessing a steady increase in gold prices as buyers aimed for $2,200. Investors purchased the yellow metal due to a quiet economic calendar in the US and growing rumours on a Fed rate cut in June. As of this writing, the XAU/USD pair is up …

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• 27 March 2024 10:31 pm

  US Treasury yields continue to retreat ahead of PCE data

  

  US Treasury bond yields are declining amid anticipation of key US inflation data, namely, the Personal Consumption Expenditures data, the most important, credible and reliable indicator for the Federal Reserve.PCE data in the United States will shed more light on price trends in the recent months, and thus will clarify …

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• 27 March 2024 10:03 pm

  Fed’s Waller: No rush to cut rates amid sticky inflation data

  

  Federal Reserve Governor Christopher Waller said on Wednesday that recent weak inflation data supports the case for Fed holding off on cutting its short-term interest rate target, per Reuters.The US Dollar Index attracts some buyers following the above hawkish comments. The DXY is trading 0.11% higher on the day at …

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• 27 March 2024 9:14 pm

  US Stocks See Reversal After Losing Streak

  

  Dow Jones Industrial Average surged by 0.7%, and the S&P 500 gained 0.4%. Following a losing streak and relative weakness that caused the major indices to retreat from their most recent record highs. Despite the recent pullback, all three indexes remain on track for a positive month and a winning …

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