Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 4 March 2024 10:26 am

  Oil rises after OPEC+ extends production cuts

  

  Oil prices increased on Monday following the decision by OPEC+ member countries to extend their voluntary production cuts by 2.2 million barrels per day for the second quarter of the year, aligning with market expectations. At 0134 GMT, Brent crude futures climbed by 28 cents, or 0.3 percent, reaching $83.83 …

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• 4 March 2024 6:09 am

  Weekly Recap: US inflation dominates the market

  

  Last week, the financial markets were shaped by significant data releases across several major economies, notably the United States and the eurozone. In the eurozone, data published by the European Statistics Office (Eurostat) on Friday indicated that the region’s annual harmonized consumer price index (HICP) rose by 2.6% in February, …

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• 2 March 2024 1:02 am

  US stocks surge on improved risk appetite

  

  US stocks experienced a surge in intraday records, with the S&P 500 and Nasdaq reaching new highs. The Nasdaq set a new intraday record, surpassing its November 2021 peak of 16,212.23. Technology stocks, particularly Nvidia and AMD, saw significant gains, with shares climbing 3.73% and 4.82% respectively. The Philadelphia semiconductor …

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• 1 March 2024 11:10 pm

  Gold gains momentum on softer dollar following PMIs

  

  Friday’s gold market surge is still going strong since all of the market’s moving parts appear to be pointing towards higher prices in the end. The price of the precious metal has increased by 2.08% to $2086.50 per ounce as of this writing.The early hours of Friday saw a slight …

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• 1 March 2024 9:22 pm

  US dollar retreats after lower-than-expected PMI reading

  

  The US Dollar Index traded in a downward trend at 103.7, before recovering, at the time of writing, to 103.895, denoting a decline of 0.24%, and representing a weak end to the trading week.The US ISM Manufacturing PMI fell disappointingly at 47.8, far from expectations of a 49.5 mark. Expectations …

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• 1 March 2024 8:59 pm

  Fed: Inflation expectations are broadly consistent with 2% goal

  

  The latest Monetary Policy Report from the US Fed highlights the US central bank’s stance on the current economic and inflation outlook, and what it will take for Fed policymakers to feel comfortable enough to begin cutting interest rates.Key highlightsInflation expectations are broadly consistent with 2% goal.Labour market remains tight, …

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• 1 March 2024 7:40 pm

  Economists see little influence of likely shutdown on the US dollar

  

  Another shutdown is looming in the United States. What does all this mean for the US dollar? Economists analyze dollar’s performance outlook.This is not the first time that a federal government shutdown is looming in the United States. There have also been longer actual shutdowns until an agreement was reached …

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• 1 March 2024 4:51 pm

  Eurozone Inflation Slows, ECB Faces Dilemma

  

  Eurozone inflation moderated in February, falling to its lowest level since November. Despite the slowdown, inflation remains above analysts’ expectations, posing a challenge for the European Central Bank (ECB) amidst speculation about future rate hikes. Key Inflation Figures: Eurostat Data Highlights Eurostat data revealed that the consumer price index rose …

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• 1 March 2024 1:35 pm

  European Stocks Rise Amid Optimism Over US Data and Monetary Policy Easing

  

  European stocks kicked off the month on a positive note, buoyed by gains in global markets fueled by encouraging US inflation data. Investors are optimistic about the prospects of inflation easing in the euro zone and are closely monitoring monetary policy signals. Market Performance: STOXX 600 Index Climbs The European …

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• 1 March 2024 12:28 pm

  Nikkei Index Hits Historic High on Tech Surge and Fed Signals

  

  Introduction: Japanese Market Achieves Milestone Japan’s Nikkei index soared to unprecedented heights on Friday, propelled by a surge in technology-related stocks following record highs in American markets. Positive remarks from Federal Reserve officials regarding interest rates further bolstered investor confidence. Record-Breaking Performance: Nikkei Hits New Peak The Nikkei index achieved …

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• 1 March 2024 11:17 am

  Oil Prices Edge Up Amidst Escalating Tensions in Gaza

  

  Introduction: Geopolitical Developments Impact Crude Prices Oil prices experienced a modest increase on Friday, with ongoing tensions in Gaza contributing to market fluctuations. The situation intensified following reports of fatalities among Palestinians waiting for aid, adding complexity to ceasefire negotiations. Brent Crude Futures: Slight Uptick Brent crude futures for May …

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• 1 March 2024 2:40 am

  Market Drivers – US Session, February 29

  

  Amid ongoing indications of inflation losing steam on both sides of the Atlantic and consistent wagers that the Fed and the ECB will cut interest rates at some point this summer, the US dollar’s continuing purchasing pressure put additional pressure on the risk-linked assets. Economic Data The personal consumption expenditures …

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• 1 March 2024 1:26 am

  Gold rallies as T-yields dip following PCE data

  

  Gold prices surged over 0.50% in the North American session after the release of the Fed’s Core Personal Consumption Expenditure Price Index, which confirmed the continued disinflation trend. The data supported the fall in US Treasury bond yields, which correlate inversely to precious metals prices. The Core PCE report showed …

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