Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 29 March 2024 9:48 pm

  PBOC Expected to Remain Cautious on Government Bonds

  

  President Xi Jinping ordered the central bank of China to start trading central government bonds; nevertheless, the bank is poised to exercise caution to minimize unanticipated effects on inflation and the exchange rate. The bank aims to avoid perceived heavy-handedness or quantitative easing, avoid large-scale intervention into the bond market, …

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• 29 March 2024 8:16 pm

  Powell Comments on Inflation Figures, Conveys Hawkish Messages

  

  The Chairman of the US central bank, Jerome Powell, participates in a discussion at the Macroeconomics and Monetary Policy Conference, in San Francisco. Earlier on the same day the PCE data was released and came in line with consensus.As for market’s reaction; the US dollar ticked higher as an immediate …

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• 29 March 2024 7:39 pm

  Does PCE data support Fed’s ‘higher for longer stance’?

  

  The US Bureau of Economic Analysis reports that after rising by 2.4% in January, the US Core PCE inflation rate climbed to 2.8% YoY in February. This is in line with market estimates and comes after a 2.4% gain in January. While the monthly result showed 0.3% as expected, the …

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• 29 March 2024 6:32 pm

  USD/JPY retreats following PCE data

  

  The USD/JPY pair dipped following February’s Core PCE data, indicating a gradual cooling of inflation but concerns linger. Fed officials maintain a cautious outlook on rate cuts, awaiting further evidence of sustained disinflationary trends.The US Core Personal Consumption Expenditure (PCE) price index, the Federal Reserve’s preferred inflation gauge, showed prices …

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• 29 March 2024 2:55 pm

  Oil Extends Growth for Third Consecutive Month

  

  On Friday, oil prices surged, extending their upward trajectory for the third consecutive month, as investors eagerly awaited OPEC+’s decision next week regarding its production policy, alongside concerns over increased US inventories. Brent crude saw a notable increase of 69 cents, reaching $86.92 per barrel from its opening price of …

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• 29 March 2024 12:30 pm

  Gold Prices Achieve Highest Monthly Performance in Three Years

  

  On Thursday, March 28th, gold prices soared to unprecedented heights, marking their best monthly performance in three years, buoyed by anticipation of interest rate cuts and robust demand for safe-haven assets. Gold futures surged by approximately 1.2% to settle at $2,238.4 per ounce by the end of the session. Meanwhile, …

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• 29 March 2024 12:04 pm

  Japan Warns Against ‘Speculative’ Yen Fluctuations, Signals Potential Intervention

  

  Japanese Finance Minister Shunichi Suzuki reiterated on Friday that recent declines in the yen were driven by “speculative” moves, signaling that authorities remained ready to intervene in the market to counter any excessive drops in the currency. Suzuki emphasized that authorities were closely monitoring the pace of the yen’s movements …

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• 29 March 2024 11:32 am

  Japan Stocks Retreat at Close; Nikkei 225 Falls by 1.46%

  

  On Friday, Japan stocks closed lower, with losses primarily in the Fishery, Railway & Bus, and Finance & Investment sectors. At the close in Tokyo, the Nikkei 225 declined by 1.46%. Among the session’s top performers on the Nikkei 225 were Mitsubishi Heavy Industries, Ltd., which rose by 5.93% or …

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• 29 March 2024 4:47 am

  Tokyo’s CPI slowdown Support BoJ’s Interest Rate Caution

  

  Tokyo Consumer Price Index, for March, increases 2.6% YoY from 2.6% earlier. The headline The Tokyo Consumer Price Index (CPI) increased 2.6% YoY in March after increasing 2.6% in the prior reading, according to data released on Friday by the Statistics Bureau of Japan. In the meantime, after rising 3.1% …

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• 29 March 2024 2:20 am

  Market Drivers; US Session, March 28

  

  Due to hawkish comments made by Fed member Waller, which implied that the US central bank would maintain rates at their present, restrictive levels for an extended period of time, the US dollar strengthened on Thursday. Bond rates for the near term rose, and the stock markets continued their upward …

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• 29 March 2024 12:52 am

  Treasury yields close Q1 with significant gains

  

  The US government debt rates saw their largest quarterly increases in at least six months as the shortened session came to a finish on Thursday.During the first quarter, the benchmark 10-year Treasury yield and the 30-year rate increased by 33.2 basis points and 31.7 basis points, respectively, to 4.192% and …

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• 29 March 2024 12:34 am

  ECB’s Dilemma: Balancing Rates, Economic Risks

  

  The European Central Bank (ECB) cannot afford to ignore the economic dangers connected to an extended period of high interest rates, according to Governing Council member Francois Villeroy de Galhau. Villeroy, on the other hand, says that the ECB ought to start cutting rates during one of its next meetings.Dual …

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• 28 March 2024 11:48 pm

  Gold Touches Record High Amid Upbeat US Data

  

  The price of gold has unexpectedly surged to an all-time high of $2,225, despite challenges from rising Treasury yields and a strong US dollar. Gold keeps rising in spite of hawkish remarks made by Federal Reserve (Fed) Governor Christopher Waller and positive U.S. economic data.Gold RalliesGold achieved the remarkable $2,225 …

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