Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 9 March 2023 3:43 pm

  Forex: Dollar holds near three-month highs on rates outlook

  

  The dollar held steady on Thursday near a three-month high, supported by the message from Federal Reserve Chairman Jerome Powell about the need for more interest rate hikes and possibly a faster pace. On the second day of congressional testimony on Wednesday, Powell reiterated his message, but noted that the …

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• 9 March 2023 2:26 pm

  Oil fell for the third day as recession fears increased

  

  Oil fell for the third day in a row on Thursday, as concerns about the economic repercussions of higher interest rates offset the impact of an unexpected drop in US crude inventories and hopes for a recovery in Chinese demand. Federal Reserve Chairman Jerome Powell’s comments this week about the …

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• 9 March 2023 1:51 pm

  European stocks opened lower, affected by the decline of German Immobilien

  

  European stocks opened lower on Thursday, with German real estate company LEG Immobilien tumbling to the bottom of the Stoxx 600 index on a dividend hold, while investors worried about interest rate hikes continuing for a longer period. Shares in LEG Immobilien plunged 10.6 percent in early trade, with the …

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• 9 March 2023 12:52 pm

  Turkish lira recorded a record low against the dollar

  

  The Turkish lira, which is prone to sharp fluctuations before normal trading time, stabilized early on Friday after tumbling 4.25 percent to a record low of 19.80 against the dollar on Thursday evening. By 0439 GMT, the lira had settled at 18.9575 against the dollar, the same closing level on …

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• 9 March 2023 12:30 pm

  Japan’s Nikkei index is at its highest level in 6 and a half months

  

  Japan’s Nikkei index hit a six-and-a-half-month high on Thursday, extending its winning streak for the fifth consecutive session, with risk appetite improving on expectations that the Federal Reserve will slow down its monetary tightening policies and the lack of imminent changes in the Bank of Japan’s monetary stimulus policy. The …

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• 9 March 2023 12:02 pm

  Gold rises with the decline of USD

  

  Spot gold rose on Thursday as the dollar fell, but Federal Reserve Chairman Jerome Powell’s hawkish comments about raising interest capped the precious metal’s gains. And by 0046 GMT, spot gold rose 0.1 percent to $ 1815.58 an ounce, after reaching its lowest level in a week on Wednesday. There …

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• 9 March 2023 3:56 am

  Market Drivers – US Session 08/03/2023

  

  The US economy expanded marginally from January through late February, and price rises persisted widely, according to the Federal Reserve’s Beige Book released on Wednesday. However, businesses said that inflation has moderated and that they anticipate it to do so throughout this year. The Federal Reserve Bank of New York …

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• 9 March 2023 3:47 am

  BoJ’s policy expected to remain unchanged

  

  The only significant central bank meeting this week, that of the Bank of Japan, is anticipated to end without a change in monetary policy following the BoC’s rate decision on Wednesday. Nonetheless, there are several elements that might distinguish the meeting event.Hikaru Kuroda, governor of the Bank of Japan, who …

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• 9 March 2023 2:33 am

  Explainer: How could debt default impact US economy?

  

  Moody’s Analytics cautioned that a breach of the US debt ceiling could potentially cause an economic catastrophe akin to the one that occurred in 2008, which would destroy millions of jobs and set America back for centuries.Moody’s chief economist Mark Zandi called the impasse over extending the debt limit a …

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• 9 March 2023 12:59 am

  Fed Beige Book: Overall economic activity saw increase early 2023

  

  The US economy expanded marginally from January through late February, and price rises persisted widely, according to the Federal Reserve’s Beige Book released on Wednesday. However, businesses said that inflation has moderated and that they anticipate it to do so throughout this year.The Federal Reserve Bank of New York created …

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• 8 March 2023 11:41 pm

  EU buys Russian LNG at the highest level in 3 years

  

  The EU is purchasing Russian LNG at the highest level in three years. Though the bloc has sanctioned Russian oil and fuel oil, LNG imports are still free-flowing.The EU snapped up 19.2 billion cubic meters of Russian LNG last year, a 35% increase from 2021. Despite efforts to keep distant …

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• 8 March 2023 10:51 pm

  Dow drops points as Wall Street encounter higher rates for longer woes

  

  Market volatility, on Wednesday, is low because of correlation going down. The Dow Jones Industrial Average fell as Wall Street fought to recover from Tuesday’s selloff, triggered by comments from Fed Chair Jerome Powell signaling higher interest rates for longer.The Dow fell 202 points, or 0.6%, dragged down by declines …

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• 8 March 2023 9:13 pm

  Powell : Aware of lags of monetary policy effects

  

  FOMC Chairman Jerome Powell testifies on the Semi-annual Monetary Policy Report before the US House Financial Services Committee.The US Dollar Index continues to fluctuate in its daily range at around 105.50 after these comments.Key Quotes“We are aware of lags of monetary policy effects.”“They are highly uncertain in timeframe though.”“Slowing down …

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