Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 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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• 3 March 2023 2:05 pm

  German exports grew in January thanks to strong US demand

  

  Data on Friday showed German exports grew more than expected in January, rising 2.1 percent month-on-month after declining in December, thanks to strong demand from the United States and Britain. A Reuters poll had expected exports to rise 1.5 percent month on month. The data showed that exports to the …

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• 3 March 2023 1:12 pm

  European stocks rose in early trading, thanks to the technology sector

  

  European stocks opened higher on Friday, supported by the rise in interest-sensitive technology stocks, as investors flocked to riskier assets after comments from a Federal Reserve official that the US central bank may temporarily stop tightening monetary policy. The Stoxx Europe 600 index rose 0.5 percent in early trading, with …

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• 3 March 2023 12:08 pm

  The Nikkei index closed at its highest level in about 3 months

  

  Japan’s Nikkei share average closed at its highest level in nearly three months on Friday after US stocks ended higher overnight. The Nikkei index rose 1.56 percent to close at 27,927.47 points, its highest since December 15 and its biggest daily gain since January 18. The index rose 1.73 percent …

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• 3 March 2023 12:07 pm

  Annual inflation in Turkey fell to 55.18% in February

  

  Official data showed on Friday that annual inflation in Turkey fell slightly to 55.18 percent in February, which was less than expected, following violent earthquakes that hit the southeast of the country and killed more than 45,000 people less than a month ago. The Turkish Statistical Institute said consumer prices …

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• 3 March 2023 11:39 am

  US Dollar is heading for its first weekly loss since January

  

  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, which is particularly …

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• 3 March 2023 4:11 am

  Market Drivers – US Session 02/03/2023

  

  Following US economic data and rising US yields, the American currency reversed previous losses and managed to gain some strength. Even in the face of a late Wall Street rally, the dollar continued to gain ground. The 30-year yield rose beyond 4%, and the 2-year reached new multi-year highs at …

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