Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2024

• 14 March 2024 4:17 pm

  IEA Raises Oil Demand Growth Forecast Amidst Disruptions

  

  The International Energy Agency (IEA) has revised its outlook for oil demand growth, citing disruptions to Red Sea shipping as a key factor. The agency, representing industrialized nations, forecasts a growth of 1.3 million barrels per day (bpd) in 2024, up by 110,000 bpd from its previous month’s projection. Divergent …

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• 14 March 2024 3:11 pm

  European Stocks Edge Higher Amid Data Anticipation

  

  European stocks opened on a positive note on Thursday, buoyed by upbeat corporate reports, although investor sentiment remained cautious ahead of crucial economic data releases from the United States. The European STOXX 600 index, a barometer of regional market performance, edged 0.2 percent higher by 08:11 GMT, lingering near its …

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• 14 March 2024 1:35 pm

  Currency Markets Reflect Cautious Optimism Ahead of Awaited Data

  

  Amidst a landscape of currency markets characterized by cautious optimism, investors around the globe find themselves on the precipice of pivotal decisions, with the trajectory of the world’s largest economy poised to influence exchange rates and trading sentiments. Data-Driven Anticipation The currency arena resonates with anticipation as market participants eagerly …

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• 14 March 2024 12:46 pm

  Nikkei Ends Higher on Thursday Amid Recovery in Chip Stocks, Energy Sector Boost

  

  The Nikkei index in Japan closed higher on Thursday, rebounding from early losses as chip-related heavyweight stocks trimmed declines and energy stocks gained momentum. Market Performance The Nikkei closed up 0.29 percent at 38,807.38 points after enduring three consecutive sessions of losses. The index had initially fallen by as much …

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• 14 March 2024 11:35 am

  Gold Prices Dip as Dollar Strengthens Ahead of Awaited Economic Data

  

  Gold prices experienced a slight decline on Thursday as the dollar strengthened, although bullion remained near record highs. Traders were eagerly awaiting more US economic data, which could influence expectations regarding a potential mid-year interest rate cut. Price Movements By 0426 GMT, gold in spot transactions fell by 0.2 percent …

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• 14 March 2024 3:52 am

  Market Drivers – US Session, March 13

  

  After Tuesday’s abrupt decline, gold prices soon resumed their upward trajectory, on Wednesday, with the immediate goal being the all-time high, which is located little below $2,200 per ounce. Gold closed the North American session at $2175.60 per ounce.The US weekly crude oil and petrol stockpiles unexpectedly declined, and rising …

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• 14 March 2024 3:01 am

  What Bad News Does Congress Bring On Wall Street?

  

  Dealmaking is critical for Wall Street because it allows investors and banks to profit by offering advice or financing for transactions. President Joe Biden’s new bundle of laws to fund the federal government may hurt Wall Street mergers and acquisitions, dash hopes for a dealmaking rebound. Lowest Mergers, AcquisitionsInvestment bankers …

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• 14 March 2024 12:50 am

  Canadian Dollar Recovers Ahead of PPI, Retail Sales

  

  PPI and retail sales figures will be released in the United States, Thursday. The Canadian dollar found some upside potential around the midweek inflection point, as investors await Thursday’s data. The Canadian dollar continues to struggle with its US counterpart, but it is on track to be one of the …

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• 13 March 2024 11:44 pm

  US Treasury yields continue to rise

  

  US Treasury bond yields have continued to rise since the beginning of daily trading on Wednesday, driven by the fact that investors have fully digested the recent US inflation data, which highlighted that consumer prices in the United States are still on the uptrend.Yields Are Climbing US Treasury yields climbed …

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• 13 March 2024 10:39 pm

  Steel Stock Declines As Biden Raises Concern Over Nippon Deal

  

  US President Joe Biden plans to express concern over Nippon Steel’s proposed $14.9 billion purchase of US Steel, pushing the company’s stock 12% lower on bets the deal could face greater political opposition.In December, Nippon Steel clinched a deal to buy the 122-year-old iconic steelmaker for a hefty premium, betting …

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• 13 March 2024 9:17 pm

  AUD/USD surges on RBA’s relatively hawkish stance

  

  The AUD/USD pair has seen a surge in value as markets continue to anticipate the Federal Reserve cutting interest rates possibly in June. However, the Reserve Bank of Australia is striking a more hawkish tone, suggesting that rates may even need to rise. The pair is 0.40% up, trading at …

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• 13 March 2024 7:26 pm

  ECB to change how it supplies banks with vital liquidity

  

  With the impending announcement of its Operational Framework Review, the European Central Bank (ECB) is approaching a pivotal point in its history. The guidelines guiding the ECB’s future liquidity injections into the commercial banking sector will be decided upon after this review. The framework is extremely important because it determines …

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• 13 March 2024 6:27 pm

  Gold price rises as focus shifts to US Retail Sales

  

  Gold price (XAU/USD) trades slightly in the green in Wednesday’s early New York session but has an uncertain outlook in the near term as investors have scaled down expectations of Federal Reserve rate cuts in June. The precious metal recorded its second-largest single-day decline in a month on Tuesday after …

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