Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 23 March 2023 9:55 pm

  Japan CPI Preview: Forecasts by four major banks

  

  Japan is expected to release February Consumer Price Index data that will be the main market driver on Friday. Forecasts by the economists and researchers of four major banks were published regarding the upcoming Japanese inflation data. Headline is expected at 3.3% year-on-year vs. 4.3% in January, core (ex-fresh food) …

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• 23 March 2023 7:36 pm

  GBP/USD pares post-BoE gains ahead of UK Retail Sales, PMI

  

  The GBP/USD currency pair oscillates near a seven-week high and pauses a two-day rise. BoE announced a rate increase of 0.25%, matching market expectations, and signalling its preparedness for more if inflation remains high. Treasury bond yields and the US dollar are affected by the Fed’s less hawkish raise as …

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• 23 March 2023 6:33 pm

  Consumer confidence in the Eurozone fell in March.

  

  In March’s flash estimate, the Consumer Confidence Index was lower than anticipated. The EUR/USD currency pair is still trading slightly above 1.0900.The Consumer Confidence Index, which measures consumer sentiment in the Eurozone, decreased slightly from -19.1 in February to -19.2 in the March flash estimate. This figure was weaker than …

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• 23 March 2023 4:52 pm

  US: Weekly Initial Jobless Claims jump to 264K

  

  The US Department of Labor (DOL) released its weekly figures on Thursday, showing that there were 191,000 new claims for unemployment benefits during the week ending March 18. This print exceeded the market forecast of 201,000 and followed the previous week’s print of 192,000. The advance seasonally adjusted insured unemployment …

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• 23 March 2023 4:26 pm

  BOE hikes policy rate by 25 bps to 4.25% in March

  

  Following its March policy meeting, the Bank of England (BOE) announced that it raised the policy rate by 25 basis points (bps) to 4.25% as expected. Two policymakers, Tenreyro and Dhingra, vote to keep the policy rate on hold at 4%. “If there were to be evidence of more persistent pressures, then …

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• 23 March 2023 2:10 pm

  Gold consolidates its gains amid bets on halting US interest increases

  

  Gold prices extended gains on Thursday after the Federal Reserve indicated that the end of the monetary tightening cycle may be on the horizon. Gold in the spot market rose 0.4 percent to $1,976.80 an ounce by 0910 GMT, while US gold futures rose 1.5 percent to $1,979.20. The dollar …

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• 23 March 2023 1:19 pm

  European stocks open lower after the US interest rate hike

  

  European stocks opened lower on Thursday, after a weak trading session on Wall Street the day before, when the Federal Reserve announced a widely expected rate hike of 25 basis points, and hinted it might suspend monetary tightening soon. The pan-European Stoxx 600 index was down 0.4% by 0808 GMT, …

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• 23 March 2023 12:09 pm

  Chinese tech stocks rise, Tencent surges on strong FY results

  

  Thursday saw gains in the majority of Chinese technology equities, with Tencent shares rising substantially after the internet giant reported stronger-than-expected annual results. Less aggressive signals from the Federal Reserve also helped to boost mood. Tencent Holdings Ltd. gained more than 6% to HK$368.40 per share and was poised for …

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• 23 March 2023 11:26 am

  Oil prices are falling as investors evaluate the US interest rate hike

  

  Oil prices fell on Thursday, following three sessions of gains, after Federal Reserve Chairman Jerome Powell renewed his commitment to curbing inflation, including possibly raising interest rates again. And by 0009 GMT, Brent crude futures fell 80 cents, or 1 percent, to $ 75.89 a barrel, and West Texas Intermediate …

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• 23 March 2023 7:02 am

  Market Drivers – US Session 22/03/2023

  

  Following the Fed’s decision on monetary policy, Wall Street finished lower after a turbulent session. The US Federal Reserve lifted rates by 25 basis points as predicted. When the Federal Reserve strikes a balance between rising inflation and banking instability, the tightening cycle is about to come to an end. …

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• 23 March 2023 12:58 am

  Less Hawkish Fed Pushes Silver, Gold , Copper Higher

  

  Following the Fed’s less hawkish announcement of its 25 bp interest rate hike on Wednesday, the price of silver surges upward. The Federal Open Market Committee Announcement noted “some additional policy firming,” and the dot plot median indicated one more hike. As a result, the Fed’s decision was largely anticipated.Prior …

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• 22 March 2023 11:20 pm

  Powell: Too early to say if recent effects change odds of soft landing

  

  FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 25 basis points to the range of 4.75-5% following the March policy meeting. Key Quotes “We have the tools to protect depositors when there is the threat to economy, and …

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• 22 March 2023 10:33 pm

  US Dollar Index sharply falls on FOMC decision

  

  In its policy statement, the US Federal Reserve dropped the reference to “ongoing increases” and said that some additional policy firming may be appropriate.The US Dollar Index sharply fell in an initial reaction to FOMC decision and was last seen losing 0.59% on the day at 102.579. Fed Policy Statement …

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