Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 20 March 2024 10:06 pm

  FOMC Holds Rate Policy Unchanged As Broadly Expected

  

  Following its meeting in March, the Federal Reserve has just announced its monetary policy decision to hold the US central bank’s policy rate at 5.25%–5.5%. All eyes focus now on the policy statement as well as the press conference starring Fed Chair Jerome Powell.

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• 20 March 2024 9:48 pm

  US Dollar shows modest gains ahead of Fed decision

  

  On Wednesday, the US dollar’s gains continued. The revised Dot Plot and Chair Powell’s tone are the centre of attention. Any surprise from the Fed, whether hawkish or dovish, could cause volatility in the USD. At present, the US Dollar Index (DXY) is trading close to 104, indicating a gain …

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• 20 March 2024 9:04 pm

  CAD Shows Little Movement Ahead of FOMC Decision

  

  The Canadian dollar (CAD) shows little movement as markets await the Federal Reserve’s (Fed) interest rate decision and economic outlook, expected at 18:00 GMT today. The Bank of Canada’s (BoC) upcoming statement is likely to have minimal impact, with investor focus on the Fed’s potential rate cut signal.Earlier expectations of …

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• 20 March 2024 7:33 pm

  Will a Decrease in Inflation Prompt the Bank of England to Move Up the Rate Cut Date?

  

  In a week marked by pivotal decisions from five of the world’s largest central banks, including the US Federal Reserve and the Bank of Japan, all eyes are now turning to the Bank of England’s upcoming announcement scheduled for Thursday. Speculation abounds regarding the likelihood of a maintained interest rate …

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• 20 March 2024 7:09 pm

  Ahead of FOMC: Investors Still Perplexed About Rate Cut Timing

  

  Following its meeting in March, the Federal Reserve (Fed) is anticipated to make announcements regarding monetary policy and to release the updated Summary of Economic Projections (SEP), also known as the dot plot, on Wednesday. For the sixth consecutive meeting, market participants predict that the US central bank will maintain …

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• 20 March 2024 3:21 pm

  Bitcoin Dips Below $62,000 Amidst Profit-Taking and ETF Outflows

  

  Bitcoin witnessed a decline on Wednesday, March 20, slipping to the level of $62,000 following significant sell-offs subsequent to the cryptocurrency’s recent record high. According to CoinDesk data, Bitcoin traded slightly above $62,900, marking a decrease of approximately 2.5% over the previous 24 hours. Despite this downturn, Bitcoin has demonstrated …

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• 20 March 2024 2:08 pm

  European Stocks Dip Amid Luxury Goods Sell-Off and Fed Uncertainty

  

  European stocks commenced trading on a lower note on Wednesday, with a flurry of selling impacting luxury goods companies following a warning from Kering regarding sales. Investor sentiment remained cautious amidst concerns that the Federal Reserve might indicate a slower pace for interest rate cuts this year. As of 0806 …

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• 20 March 2024 12:53 pm

  Yen Slips to Multi-Month Lows Against Major Currencies

  

  The yen dipped close to a four-month low against the US dollar and a 16-year low against the euro on Wednesday, driven by expectations of sustained accommodative monetary policy in Japan despite the Bank of Japan’s recent policy shift. On Wednesday, the yen touched its lowest level in four months …

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• 20 March 2024 12:31 pm

  Gold Prices Hold Steady Ahead of Fed Decision

  

  Gold prices remained steady on Wednesday as traders braced themselves for a pivotal monetary policy decision from the Federal Reserve, along with remarks from Chairman Jerome Powell. These events are anticipated to offer crucial insights into the outlook for interest rate adjustments throughout the year. At the close of spot …

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• 20 March 2024 11:05 am

  UK CPI inflation softens in February

  

  Data from the UK Office for National Statistics (ONS) showed that the Consumer Price Index (CPI), a key indicator of inflation, rose by 3.4% in the UK in February last year. This represents a slight decline from the 4.0% increase recorded in January 2016. in line with market expectations, Just …

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• 20 March 2024 10:30 am

  Oil Prices Dip in Asian Trading Amid Dollar Strength and Supply Considerations

  

  In early Asian trading on Wednesday, oil prices experienced a decline, influenced by a strengthening dollar, which dampened investor sentiment, particularly following recent rallies that propelled both benchmark crude oils to multi-month highs over the past two sessions. Price Movements Brent crude futures for May delivery dipped by 19 cents, …

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• 20 March 2024 5:21 am

  Market Drivers – US Session, March 19

  

  The US Dollar continued its recent strength, pushing the USD Index (DXY) above 104.00 earlier on Tuesday, though the gain was short-lived and it was last seen at 103.871. All eyes are now focusing on the Federal Reserve’s interest rate decision later Wednesday, along with their economic projections and Chair …

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• 20 March 2024 5:09 am

  Pound Holds Steady Ahead of Key Data, Rate Decisions

  

  The British Pound (GBP) is hovering around the 1.2700 mark, last seen at 1.2717, against the US Dollar (USD) on Wednesday morning, as investors brace themselves for crucial inflation data and interest rate decisions from both the UK and the US.FOMC, BoE’s Decisions AwaitedThe US Federal Reserve is widely expected …

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