Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 13 March 2024 2:11 pm

  Bitcoin Reaches New All-Time High

  

  Bitcoin surged to a record high for the third time in five days before traders seized the opportunity to capitalize on recent gains. After touching $73,650 during Tuesday’s trading session, the cryptocurrency was pushed below the $70,000 mark. Influx of Funds and ETF Success: The cryptocurrency’s ascent to new heights …

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• 13 March 2024 1:21 pm

  Britain’s Economy Shows Signs of Recovery

  

  Official data revealed that the UK’s economy rebounded at the onset of 2024, offering a respite for Prime Minister Rishi Sunak ahead of the anticipated elections later this year, following a recession triggered by the mixed performance across sectors in the latter half of 2023. GDP Growth in January: Britain …

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• 13 March 2024 11:59 am

  Forex Overview: Dollar Stabilizes as Markets Digest Higher-Than-Expected Inflation in America

  

  Dollar Stability Amid Inflation Surge: The dollar showed signs of stability against major currencies on Wednesday as traders gauged the potential impact of higher-than-expected inflation data on the Federal Reserve’s interest rate decisions slated for June. Surge in US Consumer Price Index: February witnessed a robust rise in the US …

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• 13 March 2024 11:55 am

  Nikkei Index Declines for Third Consecutive Session Amid Speculation on BoJ Policy Shift

  

  In Wednesday’s trading session, Japan’s Nikkei index extended its losses for the third consecutive day, reflecting investors’ cautious stance as they evaluated the potential implications of the Bank of Japan’s forthcoming monetary policy meeting, on March 18-19. Nikkei’s Decline: The Nikkei index experienced a modest decline of 0.26 percent, closing …

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• 13 March 2024 2:59 am

  Market Drivers – US Session, March 12

  

  After US inflation data came in higher than anticipated, the dollar maintained its good start to the week, supporting investors’ further repricing of a Federal Reserve rate cut in June.As confidence in the Fed’s summer easing cycle increased, the USD Index recovered the territory above the 103.00 mark. A light …

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• 13 March 2024 2:06 am

  ECB’s Villeroy: ECB can cut interest rate independently from Fed

  

  François Villeroy de Galhau, the governor of the Bank of France and an ex officio member of the European Central Bank, emphasised on Tuesday that the ECB’s pragmatism about rate decreases is independent of Federal Reserve policy.Villeroy’s remarks follow the Bank of France’s revision of its first-quarter growth estimate for …

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• 13 March 2024 12:03 am

  Oil prices marginally decline following predicted surge in US output

  

  Oil prices fell slightly on Tuesday due to a higher-than-expected forecast for US crude oil production and bearish economic data. Brent futures for May delivery settled 29 cents, -0.34% lower, at $82.13 per barrel, while the April US West Texas Intermediate crude contract ended 15 cents, -0.21% lower, at $77.77 …

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• 12 March 2024 11:16 pm

  Gold retreats for the first time in ten sessions

  

  Gold has been declining since the beginning of daily trading on Tuesday, under pressure from the rise in the US dollar. The dollar found momentum after Tuesday’s US inflation data that shed light on the rise in consumer prices to levels higher than expectations last February.The precious metal slumped -1.31% …

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• 12 March 2024 10:16 pm

  What does CPI print mean for Fed’s rate policy?

  

  The CPI report’s inflation data reveals greater price growth in February, indicating that the road to more reasonable consumer price increases following a pandemic-induced jump may remain rough. According to the Labour Department’s consumer price index, overall prices increased 3.2% over the previous year, slightly higher than 3.1% in January. …

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• 12 March 2024 9:10 pm

  US stocks advance following CPI data

  

  Despite higher-than-expected February inflation data, US stocks continued to rise, with the S&P 500 rising nearly 1%, the Nasdaq Composite climbing 1.4%, and the Dow Jones Industrial Average increasing 0.6%. Treasury yields also rose, with the 10-year yield rising 4 basis points to trade around 4.15%. Gold prices fell 1% …

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• 12 March 2024 6:01 pm

  USD Slips Following Release of Inflation Data

  

  The U.S. dollar remained relatively stable amidst turbulent trading on Tuesday, initially strengthening earlier in the global session. However, it later retraced its gains following the release of data indicating higher-than-expected inflation in the world’s largest economy. Following the data release, the greenback experienced an initial surge but subsequently declined. …

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• 12 March 2024 5:31 pm

  US CPI inflation rises to 3.2% in February vs. 3.1% expected

  

  The US Bureau of Labour Statistics (BLS) stated on Tuesday that inflation, as measured by the change in the Consumer Price Index (CPI), increased to 3.2% on an annual basis in February from 3.1% in January. Annual Core CPI, which excludes volatile food and energy costs, rose 3.8% during the …

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• 12 March 2024 4:10 pm

  Pound Sterling Declines Amid Labor Market Data, Profit-Taking

  

  Correction and Profit-Taking Processes Drive Sterling Lower In the European market on Tuesday, the pound sterling faced downward pressure against a basket of global currencies, extending losses for the second consecutive day against the US dollar. This decline comes as the pound moves away from its eight-month high, driven by …

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