Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 21 March 2024 4:35 pm

  Turkish Central Bank Surprises Markets with Interest Rate Hike

  

  In a surprising move, the Turkish Central Bank raised its benchmark interest rate by 500 basis points, reaching a staggering 50%. This decision comes in contrast to market expectations of holding rates steady and marks the second meeting under the leadership of the new bank governor, Fatih Karahan. The move …

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• 21 March 2024 1:45 pm

  Pound Steadies Ahead of Bank of England Meeting

  

  On Thursday, the pound stabilized against the dollar as traders awaited the Bank of England’s meeting, widely anticipated to maintain UK rates, though uncertainty looms over its monetary policy outlook. This week sees a flurry of central bank decisions. Notably, the Bank of Japan surprised markets on Tuesday by abandoning …

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• 21 March 2024 12:49 pm

  Germany’s Economic Downturn Eases in March Amid Signs of Stabilization

  

  In March, Germany’s economic downturn showed signs of easing, with business activity in the country’s service sector approaching stabilization, according to a preliminary survey released on Thursday. The HCOB German Flash Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 47.4 in March from 46.3 in February. Although …

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• 21 March 2024 11:41 am

  Britain’s Budget Deficit Widens in February Due to Rising Costs and Past Inflation

  

  In February, Britain experienced a larger-than-expected budget deficit, driven by increased cost-of-living payments and the lingering impact of past inflation on public finances, according to official data released on Thursday. The public sector net borrowing, excluding state-owned banks, amounted to £8.401 billion last month, compared to £11.843 billion recorded a …

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• 21 March 2024 11:07 am

  Oil prices rise supported by a decline in US inventories of crude and gasoline

  

  Oil prices rose on Thursday after falling in the previous session, supported by a decline in crude and gasoline inventories in the United States after indications that the Federal Reserve (the US central bank) may keep interest rates high for a longer period, affecting expectations for future fuel demand. By …

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• 21 March 2024 10:33 am

  Gold Hits Record High on Fed’s Interest Rate Cut Pledge

  

  Gold prices surged to unprecedented levels on Thursday, driven by a decline in the dollar and bond yields following the Federal Reserve’s decision to maintain expectations of three interest rate cuts this year. The allure of gold strengthened as low interest rates diminished the opportunity cost of holding non-yielding bullion …

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• 21 March 2024 4:19 am

  Market Drivers – US Session, March 20

  

  The US Dollar Index (DXY), which had earlier risen above 104.00, eventually dropped later on Wednesday after FOMC decision, hitting lows of 103.00s. FOMC decision, to keep interest rate unchanged in March, significantly had an impact on market mood including the performance of US stocks as well as gold prices.Economic …

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• 21 March 2024 3:59 am

  AUD/USD advances following FOMC decision

  

  The Federal Reserve’s decision to hold rates unchanged and to adhere to the US monetary policy projection from the previous year, which suggests 75 basis points (bps) of rate cuts in 2024, caused the Australian dollar to leap 0.83% against the US dollar on Wednesday. The pair trades at 0.6595, …

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• 21 March 2024 2:22 am

  US Dollar Nosedives After FOMC Rate Decision

  

  Following the FOMC’s decision to keep interest rates steady and Fed Chair Jerome Powell’s press conference, which in March established a higher for longer attitude while also hinting at three rate decreases before 2024 ends, the US dollar fell to its lowest point this week.FOMC Decision in Line with Expectations …

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• 21 March 2024 1:56 am

  Dow skyrockets to fresh record after Fed’s hints at 3-rate cuts

  

  After the Fed had hinted at three rate cuts in the pipeline for 2024, the Dow surged to new heights. Following the Federal Reserve’s the retention of Fed’s 23-year high rate of interest rate and its hold on the projections for three rate cuts before the end of 2024, the …

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• 21 March 2024 12:09 am

  FOMC Decision Seen as Price-Friendly for Gold, Triggers Fresh Rally

  

  The Federal Reserve maintained its monetary policy unchanged at the recently concluded Federal Open Market Committee (FOMC) monetary policy meeting, as anticipated. At 5.25% to 5.50%, the main Fed Funds interest rate range remained unchanged. It seems that the FOMC statement took a moderate stance on policy, neither being very …

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• 20 March 2024 10:57 pm

  Powell: Policymakers made no decisions about future meetings in March

  

  Fed Chair Jerome Powell has explained the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.Key Statements:“We want to see more data that gives us higher confidence on inflation moving down sustainably.”“We made no decisions …

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• 20 March 2024 10:43 pm

  Fed Signals Interest Rate Cuts in 2024

  

  On Wednesday, the Federal Reserve kept the interest rate in the 5.25%-5.50% area without any change at the end of its meeting that began one day ago, which was in line with market expectations.The central bank has been holding the interest rate at these levels since July 2023, when the …

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