Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 22 March 2023 9:54 am

  Oil falls after an unexpected increase in US crude inventories

  

  Oil fell in early Asian trading on Wednesday, trimming its gains for two consecutive days after a report showed US crude inventories rose unexpectedly last week in a sign of possible weak demand for fuel. Brent crude futures fell 48 cents, or 0.6 percent, to $74.84 a barrel at 0203 …

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• 22 March 2023 4:58 am

  Market Drivers – US Session 21/03/2023

  

  Wall Street indexes rose sharply on Tuesday ahead of the Federal Reserve decision, led by shares of regional banks. First Republic stock rose 29%. The Dow Jones gained 0.98%, and the Nasdaq advanced 1.58%. Banking fears keep easing, paving the way for more tightening from central banks. US Treasury Secretary …

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• 22 March 2023 3:45 am

  FOMC Decision Preview: March 22

  

  At the conclusion of its two-day meeting on Wednesday, the US Federal Reserve may attempt to shock the banking system back to life and avert a developing financial crisis by keeping interest rates unchanged. Jerome Powell As well as other senior officials have frequently assured the public that their drive …

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• 22 March 2023 12:19 am

  EUR/USD climbs above 1.0760 ahead of FOMC decision

  

  Ahead of the March policy meeting of the Federal Reserve, the EUR/USD remains stable above the 1.0740s. Policymakers at the ECB have remained preoccupied with banks and avoided discussing monetary policy. Traders anticipate a 25 basis point rate increase by the end of the FOMC’s March meeting, which is on …

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• 21 March 2023 10:59 pm

  EIA: Long-Term Growth in US Petroleum Exports

  

  With exports of petroleum products increasing between 2010 and 2022, the United States has emerged as a major energy supplier in the midst of Russia’s conflict in Ukraine, and the Energy Information Administration (EIA) anticipates this trend to continue.The average US petroleum product exports increased by 7% to 5.97 million …

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• 21 March 2023 9:57 pm

  US bank stocks surge after Yellen’s support

  

  Regional lenders bounced back Tuesday following the remarks by Treasury Secretary, ‘it’s our intention to remain vigilant in the days and weeks to come’ Yellen said.Regional bank stocks rebounded Tuesday as Treasury Secretary Janet Yellen pledged further assistance to depositors if needed and a second attempted rescue of troubled San …

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• 21 March 2023 8:49 pm

  USD/CAD benefits from Tuesday’s stronger US Dollar

  

  The US dollar gains momentum as US yields surge ahead of FOMC decision. On the data front; Canada’s CPI rose 0.4% in February, core up 0.5%. The USD/CAD pair’s support lies at 1.3650 with no change. The USD/CAD pair bottomed at 1.3643 following the release of Canadian inflation data, the …

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• 21 March 2023 7:53 pm

  Gold retreats below $1950 on higher Treasury yields

  

  Gold price drops on risk-appetite improvement, and US Treasury bond yields are surging. The US Treasury bond yields rise, with 10-year TIPS, a proxy for real yields advancing above 1.30%.The Federal Reserve will commence its two-day monetary policy meeting, expected to deliver a 25-bps rate increase. Gold price is tumbling …

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• 21 March 2023 6:59 pm

  BoE Interest Rate Decision Preview

  

  In March, the Bank of England (BoE) is expected to continue raising interest rates, albeit more slowly as the globe fights off threats to the financial system. On Thursday at 12:00 GMT, the BoE will make its interest rate decision public. It’s not a “Super Thursday” because neither the governor’s …

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• 21 March 2023 5:46 pm

  Wall St set to open higher as bank fears ease, focus on Fed

  

  Wall Street’s main indexes were set to open higher on Tuesday as the rescue of Credit Suisse calmed nerves about a bigger banking crisis, while investors awaited the outcome of the Federal Reserve’s monetary policy meet. Traders now largely expect a 25-basis-point rate hike after the Fed’s two-day meeting concludes …

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• 21 March 2023 4:55 pm

  Inflation in Canada fell more than anticipated in February.

  

  According to Statistics Canada statistics released on Tuesday, Canada’s annual inflation rate decreased more than anticipated in February as lower gas prices and slower housing cost growth helped down the consumer price index to its lowest point since January 2022. Inflation fell from 5.9% in January to 5.2% in February, …

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• 21 March 2023 3:27 pm

  Oil increases as short-term banking jitters subside

  

  While the rescue of Credit Suisse allayed concerns about threats to the global banking sector that may hinder economic development and fuel demand, oil prices increased on Tuesday, continuing their rebound from a 15-month low recorded the previous day. In the aftermath of UBS’ acquisition of Credit Suisse and after …

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• 21 March 2023 2:37 pm

  German ZEW Economic Sentiment Index declines to 13.0 in March

  

  The German ZEW headline number showed that the Economic Sentiment Index worsened in March, arriving at 13.0 from 28.1 in January, missing the market expectation of 16.4. Meanwhile, the Current Situation Index came in at -46.5 from -45.1, worse than the market expectation of -45.8. During the same period, the Eurozone …

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