Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 6 March 2023 10:35 am

  Saudi Arabia raises the selling prices of Arab Light Oil to Asia for the second month in April

  

  Saudi Aramco said on Sunday evening that Saudi Arabia raised the selling price of its Arab Light crude oil to Asia for the second month in April to $2.50 a barrel, above the average price of Oman and Dubai crude. The price increase, which is 50 cents a barrel above …

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• 6 March 2023 10:17 am

  Price of gold declined due to the rise in dollar and concerns about increasing interest rates

  

  Gold prices fell on Monday as the dollar rose, with the release of a new set of data that reinforced fears that central banks around the world will continue to raise interest rates to contain inflation. GMT, after rising to its highest level since February 15 on Friday. US gold …

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• 6 March 2023 5:13 am

  Financial Markets’ Weekly Recap, February 27 – March 3

  

  The dollar fell from the highest level in two and a half months against the yen on Friday and headed towards recording its first weekly loss since January against other major currencies as dealers try to determine the course of the Federal Reserve’s monetary policy. The yen, particularly sensitive to …

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• 4 March 2023 2:34 am

  Market Drivers – US Session 03/03/2023

  

  The US dollar declined on Friday and dropped for the week. The Dollar Index remained in negative territory as a result of encouraging news from China and falling US yields. American stocks experienced weekly gains following February’s significant losses. After good performance in February, the dollar experienced its first weekly …

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• 4 March 2023 1:06 am

  US stocks have rallied on best day since January 2023

  

  The S&P 500 gained 1.6% to end its first profitable week in the previous four as the bond market’s easing yields relieved some of Wall Street’s pressure. Following a sharp surge and fall to start the year, it has found some steadiness. The Nasdaq composite rose 2% while the Dow …

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• 4 March 2023 12:04 am

  Bitcoin falls on Silvergate-linked Worries

  

  Bitcoin as well as other cryptocurrencies are down on Friday as a result of worries over Silvergate Capital, whose distress could have an adverse effect on how the market operates and the regulatory landscape.Over the past 24 hours, the price of Bitcoin has dropped 4% to around $22,350 before recovering …

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• 3 March 2023 11:14 pm

  USD/JPY retraces toward 136.00 on weaker dollar

  

  The USD/JPY retreats from weekly highs amidst an offered US Dollar. Positive US economic data failed to boost the US Dollar. USD/JPY Price Analysis: Bullish above 136.00; otherwise, a retest of 134.00 is on the cards.The USD/JPY slides from 136.70s toward the 136.00 area on Friday amidst broad US Dollar …

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• 3 March 2023 10:04 pm

  Is UAE leaving OPEC? What impact has this news had on crude oil prices?

  

  On Friday morning, Brent crude fell as much as 2.8% on news reports that the United Arab Emirates is pondering leaving OPEC, the influential 13-nation oil producer alliance.Later, Brent recovered its losses and started to rise; at 11:30 a.m. ET, it was trading at $85.23 per barrel, up 0.57% from …

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• 3 March 2023 8:37 pm

  Fed Policy Report: Ongoing increases in fed funds rate target are necessary

  

  The US Federal Reserve’s semi-annual Monetary Policy Report is published on Friday. The US Dollar Index showed no immediate reaction to this publication and was last seen trading flat at 104.93.Key Quotes “Financial conditions have tightened further since June and are significantly tighter than a year ago.”“Ongoing increases in the …

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• 3 March 2023 7:35 pm

  Gold Index declines from two-week highs post-US ISM Service PMI

  

  The US Service sector data surpasses market expectations, and exhibits no significant surprises. Treasury yields rebound from daily lows. The Gold Index declines further from two-week highs, tests $1,840.Gold prices weakened after the US data, however it is still seen positive for the day and the week. The precious metal …

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• 3 March 2023 5:57 pm

  China opposes U.S. adding Chinese firms to trade blacklist

  

  China opposes the United States adding several Chinese firms to its trade blacklist, China’s commerce ministry said on Friday. China urges the United States to stop using any excuse to suppress Chinese firms, the ministry said in a statement posted on its website. The U.S. Commerce Department, which oversees export …

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• 3 March 2023 5:17 pm

  Oil is stable and is heading to record weekly gains

  

  Oil prices stabilized today, Friday, on their way to recording weekly gains, as renewed optimism about the recovery of demand from China offset the impact of growing recession fears due to the increase in US crude inventories and tightening monetary policy in Europe. And by 0936 GMT, Brent crude futures …

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• 3 March 2023 3:50 pm

  Britain extends subsidies on energy bills for 3 months

  

  British finance minister Jeremy Hunt is set to extend subsidies for household energy bills for three months after April, the Times reported on Friday, in a move that should ease cost-of-living pressures in the country. It is scheduled to cut government support starting next month, which means that average annual …

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