Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 7 March 2023 11:40 pm

  USD/CAD climbs to 4-month highs above 1.3755

  

  With Powell’s hawkish stance, the USD/CAD pair rises beyond the 1.3755 mark and is now approaching 1.3800 after trading at 4-month highs. The pair is trading at 1.3759 at the time of writing versus the previous closing at 1.3611 on Monday. On the strength of Jerome Powell’s remarks, the USD/CAD …

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• 7 March 2023 10:50 pm

  GBP/USD nosedived on hawkish remarks by Fed Chair

  

  GBP/USD dropped more than 150 pips and fell from 1.2000 to 1.1840s. Hawkish comments by the US Fed Chair Jerome Powell at the Senate keeps investors assessing a 50 bps hike in March.The pair is now retreating over 100 pips as Powell testifies at the US Senate on Tuesday. The …

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• 7 March 2023 9:26 pm

  Powell’s comments spark fears on Wall Street of higher rates for longer

  

  US stocks sharply sold off on Tuesday following the comments by Fed Chair Jerome Powell who suggested that rates may need to go higher for longer, fueling fears of a potentially larger rate hike at the central bank’s March policy meeting.The Dow Jones Industrial Average was last down 402 points, …

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• 7 March 2023 8:44 pm

  Fed’s Powell: Overall data on labour market shows it is extremely tight

  

  Fed Chair Jerome Powell is delivering his bi-annual testimony before the US Senate. He presents the Monetary Policy Report before the Q&A session with senators. The US dollar, stock markets as well as all other asset could be on the move with Powell’s words. The US Dollar’s bullish rally remains …

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• 7 March 2023 7:53 pm

  EUR/USD retreats as US Dollar Index jumps on Fed Powell’s remarks

  

  Fed’s Powell has indicated that the central bank is Ready to increase pace of rate hikes if incoming data suggests faster tightening is required. Markets see hawkish bias in Powell’s remarks, US Dollar soars.EUR/USD tumbles more than 50 pips. The EUR/USD lost more than 50 pips after the release of …

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• 7 March 2023 6:30 pm

  Bank of Canada Preview

  

  the BoC is planning to maintain rates at their pre-financial crisis high of 4.50%; however, this does not necessarily suggest that they will be dropped as quickly as they were nearly 16 years ago. It is time for the Bank of Canada (BoC) to follow through on its promises to …

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• 7 March 2023 5:31 pm

  Oil is falling due to the rise of the dollar and weak Chinese data

  

  Oil prices fell on Tuesday after a stronger dollar and weak oil data in China turned the market around after five days of gains. Brent crude futures fell 41 cents, or 0.48 percent, to $85.77 a barrel by 1250 GMT. US West Texas Intermediate crude fell 40 cents, or 0.5 …

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• 7 March 2023 4:10 pm

  Goldman Sachs expects Apple stock to rise by 32%

  

  Goldman Sachs sees Apple stock as having a chance of gaining about 32% over the next 12 months. The US bank said in a note on Sunday, March 5, that the market’s focus on slowing product revenue growth reduces the value of Apple’s wide range of products and its large …

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• 7 March 2023 3:51 pm

  Investors and data: Russia begins exporting diesel to Saudi Arabia

  

  Russia began exporting diesel to Saudi Arabia in February as it seeks to counter a European Union ban on Russian imports, traders said, Refinitiv data showed. A blanket European Union embargo on Russian oil products took effect on Feb. 5, prompting Russian exporters to redirect shipments to Africa and Asia, …

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• 7 March 2023 3:18 pm

  France: Massive protests against the retirement system threaten to paralyze the country

  

  France is witnessing massive demonstrations on Tuesday, March 7, against the pension reform proposed by President Emmanuel Macron, while unions expect to “paralyze” the country through strikes and demonstrations. “I call on the employees of this country, I call on citizens and retirees to demonstrate massively,” said the Secretary General …

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• 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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