Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 9 March 2023 12:02 pm

  Gold rises with the decline of USD

  

  Spot gold rose on Thursday as the dollar fell, but Federal Reserve Chairman Jerome Powell’s hawkish comments about raising interest capped the precious metal’s gains. And by 0046 GMT, spot gold rose 0.1 percent to $ 1815.58 an ounce, after reaching its lowest level in a week on Wednesday. There …

  Read More »
• 9 March 2023 3:56 am

  Market Drivers – US Session 08/03/2023

  

  The US economy expanded marginally from January through late February, and price rises persisted widely, according to the Federal Reserve’s Beige Book released on Wednesday. However, businesses said that inflation has moderated and that they anticipate it to do so throughout this year. The Federal Reserve Bank of New York …

  Read More »
• 9 March 2023 3:47 am

  BoJ’s policy expected to remain unchanged

  

  The only significant central bank meeting this week, that of the Bank of Japan, is anticipated to end without a change in monetary policy following the BoC’s rate decision on Wednesday. Nonetheless, there are several elements that might distinguish the meeting event.Hikaru Kuroda, governor of the Bank of Japan, who …

  Read More »
• 9 March 2023 2:33 am

  Explainer: How could debt default impact US economy?

  

  Moody’s Analytics cautioned that a breach of the US debt ceiling could potentially cause an economic catastrophe akin to the one that occurred in 2008, which would destroy millions of jobs and set America back for centuries.Moody’s chief economist Mark Zandi called the impasse over extending the debt limit a …

  Read More »
• 9 March 2023 12:59 am

  Fed Beige Book: Overall economic activity saw increase early 2023

  

  The US economy expanded marginally from January through late February, and price rises persisted widely, according to the Federal Reserve’s Beige Book released on Wednesday. However, businesses said that inflation has moderated and that they anticipate it to do so throughout this year.The Federal Reserve Bank of New York created …

  Read More »
• 8 March 2023 11:41 pm

  EU buys Russian LNG at the highest level in 3 years

  

  The EU is purchasing Russian LNG at the highest level in three years. Though the bloc has sanctioned Russian oil and fuel oil, LNG imports are still free-flowing.The EU snapped up 19.2 billion cubic meters of Russian LNG last year, a 35% increase from 2021. Despite efforts to keep distant …

  Read More »
• 8 March 2023 10:51 pm

  Dow drops points as Wall Street encounter higher rates for longer woes

  

  Market volatility, on Wednesday, is low because of correlation going down. The Dow Jones Industrial Average fell as Wall Street fought to recover from Tuesday’s selloff, triggered by comments from Fed Chair Jerome Powell signaling higher interest rates for longer.The Dow fell 202 points, or 0.6%, dragged down by declines …

  Read More »
• 8 March 2023 9:13 pm

  Powell : Aware of lags of monetary policy effects

  

  FOMC Chairman Jerome Powell testifies on the Semi-annual Monetary Policy Report before the US House Financial Services Committee.The US Dollar Index continues to fluctuate in its daily range at around 105.50 after these comments.Key Quotes“We are aware of lags of monetary policy effects.”“They are highly uncertain in timeframe though.”“Slowing down …

  Read More »
• 8 March 2023 8:29 pm

  Addressing Congress, Powell Defends Fed’s Hawkish Stance

  

  Fed Chair Jerome Powell indicated that the “costs of not getting inflation down will be extremely high”. FOMC Chairman Jerome Powell testifies on the Semi-annual Monetary Policy Report before the US House Financial Services Committee on Wednesday.The US Dollar stays under modest bearish pressure during Powell’s testimony and the US …

  Read More »
• 8 March 2023 7:22 pm

  US: JOLTS Job Openings decline to 10.8 million in January

  

  Job openings in the United States have declined marginally in January, meanwhile, the US Dollar Index continues to fluctuate within the daily range slightly above 105.50.So far, the dollar’s performance showed no immediate reaction to this report and was last seen trading virtually unchanged on the day at 105.700 at …

  Read More »
• 8 March 2023 7:04 pm

  BoC’s interest rates unchanged citing inflation falling as forecast

  

  The Bank of Canada on Wednesday left its key overnight rate on hold at 4.50%, as expected, becoming the first major central bank to suspend its monetary tightening campaign in the face of an anticipated easing of high inflation.Over the past year, the Canadian central bank raised rates eight times …

  Read More »
• 8 March 2023 6:16 pm

  Eurozone economy did not record any quarterly growth at the end of 2022

  

  The European Union’s statistics office (Eurostat) said that the eurozone did not record any economic growth on a quarterly basis in the last three months of 2022, in a slight downward revision of GDP and employment data, yet employment data remained strong. Eurostat said in a statement that the growth …

  Read More »
• 8 March 2023 4:50 pm

  Barclays cuts 2023 oil price forecasts on resilient Russian output

  

  Barclays lowered its 2023 oil price projections on Wednesday, citing higher-than-expected Russian output, and warned the market might go into deficit in the second half of the year due to rising Chinese demand. The bank reduced its average projections for the Brent and West Texas Intermediate (WTI) benchmarks to $92/b …

  Read More »