Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 7 March 2023 1:52 pm

  European stocks opened lower ahead of the beginning of the testimony of the US central bank chairman in Congress

  

  European stocks recorded a slight decline in early trading on Tuesday, and technology stocks led the decline ahead of the beginning of the congressional testimony of Jerome Powell, Chairman of the Federal Reserve, while luxury goods companies gave up gains due to gloomy Chinese data. The pan-European Stoxx 600 index …

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• 7 March 2023 1:16 pm

  OPEC officials discuss energy issues with executives of major US oil companies

  

  Executives of major US oil companies held private meetings with top OPEC officials on Monday on the sidelines of a conference in Houston to discuss energy matters, people familiar with the matter said, continuing a tradition that began nearly five years ago when the two sides were fierce rivals. Both …

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• 7 March 2023 12:22 pm

  Nikkei touches 3-month high as investor sentiment improves

  

  Japan’s Nikkei share average rose to a three-month high on Tuesday, and the broader Topix index reached its highest level since late 2021, as investor sentiment improved thanks to a decline in long-term US Treasury yields. But analysts said that uncertainty limited the gains ahead of Federal Reserve Chairman Jerome …

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• 7 March 2023 12:07 pm

  Oil rises on supply concerns and hopes for increased Chinese demand

  

  Oil prices rose on Tuesday after industry executives cited concerns about a lack of spare capacity in the market and uncertainty about Russian supplies as demand recovers from China, the largest importer of crude. Brent crude futures were up 40 cents, or 0.5%, at $86.58 a barrel by 0154 GMT, …

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• 7 March 2023 3:51 am

  Market Drivers – US Session 06/03/2023

  

  It is typically a calm start to a busy week. Late on Monday, Wall Street pared gains to register a mixed close. As market investors wait for new direction from Fed Chair Jerome Powell, who will testify before the US Congress on Tuesday and Wednesday.The dollar likewise had a volatile …

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• 7 March 2023 2:50 am

  CAD/USD maintains its positive momentum ahead of the BoC and important events

  

  This week’s major events are anticipated to have an impact on the USD/CAD pair. For the day, the pair has moved between a low of 1.3581 and a high of 1.3628, increasing by 0.14%. At the time of writing, the price of the pair is 1.3609.It is going to be …

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• 7 March 2023 1:22 am

  RBA Preview: Central Bank’s Decision Could Yield One of Three Possibilities

  

  The Reserve Bank of Australia is about to issue its decision on interest rates, and economists are discussing their predictions for this event as well as the effects of every conceivable scenario on the price action of the AUD/USD pair.i) Hawkish +25 bps, likely by about 35%More interest rate rises …

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• 7 March 2023 12:00 am

  WTI holds on $80s as focus shifts away from China onto America

  

  WTI reversed some of its earlier losses and is now up for a fifth straight day as it approaches the $80s region. In the last three weeks, it achieved the highest closing price in the futures markets. Despite expectations for a slightly less robust recovery in China’s economy, the bulls …

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• 6 March 2023 10:55 pm

  Gold price declines below $1850 on higher Treasury yields

  

  Monday’s gold price decline is caused by rising US Treasury bond yields, which are up 0.49%. US factory orders decreased less than anticipated, but market players paid it little attention. At the time of writing, the price of the precious metal was 1846.62 per ounce, down from its previous closing …

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• 6 March 2023 8:04 pm

  GBP/USD retreats as bears eye 1.2000 below the 100-DMA

  

  The GBP/USD pair is testing the 100-day Exponential Moving Average at 1.2033. Traders are focusing on UK economic growth reading as well as Fed Chair Powell’s speech before the Congress, and US NFP figures. With the new trading week, the pair is trimming some of last Friday’s gains despite the …

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• 6 March 2023 7:20 pm

  Explainer: Real problem with Silvergate based on deposits

  

  If Silvergate Capital fails, it could be the first bank to be brought down by bad liabilities rather than bad assets. The bank warned in a filing last week that it might not be able to stay in business. The news pushed depositors to move their money elsewhere. Fears, under …

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• 6 March 2023 6:22 pm

  RBA Preview: Forecasts from 6 major banks

  

  These are the predictions made by the economists and analysts of 6 major banks on the impending central bank’s decision. The Reserve Bank of Australia (RBA) will issue its next monetary policy decision on Tuesday, March 7 at 03:30 GMT. In March, the RBA is expected to issue another rate …

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• 6 March 2023 5:16 pm

  Oil prices fell after expectations of modest growth in China

  

  Oil prices fell on Monday after China set a modest target for economic growth this year of about 5 percent, which is lower than market expectations, while investors cautiously await Federal Reserve Chairman Jerome Powell’s testimony before Congress this week. Brent crude futures were trading down $1.30, or 1.5%, at …

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