Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 15 March 2023 3:50 am

  Market Drivers – US Session 14/03/2023

  

  Despite rising Treasury rates and CPI on Tuesday, the US dollar was unable to recover. Wall Street recovered and ended its five-day losing streak. The dollar continued to decline on Tuesday, although it managed to stay above Monday’s lows while remaining weak. The Nasdaq increased by more than 2%, while …

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• 15 March 2023 3:04 am

  After SVB Collapse, Fed’s Bowman: America’s banking sector remains resilient

  

  In a statement published by Reuters late on Tuesday, Federal Reserve Governor Michelle Bowman dispelled rumours that the US banking industry would face difficulties in the wake of the Silicon Valley Bank (SVB) scandal.Fed’s Bowman noted that the banking sector has strong capital and liquidity and that the Fed board …

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• 15 March 2023 1:30 am

  WTI slides lower post CPI reading

  

  Following the US CPI inflation reading for February, which increased at an annualised 6% pace, in line with predictions and down from 6.4% in January, oil prices are falling in noon trading. Inflation in the United States remains far over Fed’s target, raising the possibility of a recession, particularly in …

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• 15 March 2023 12:49 am

  GBP/USD slides lower ahead of UK budget

  

  The GBP/USD pair was lower on Tuesday but hovers around a one-month high on the back of the trading day’s softer US dollar that was dented at the start of the week due to the market turmoil in the banking sector. At the time of writing, the GBP/USD pair is …

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• 14 March 2023 11:54 pm

  US stocks rebound following US inflation data

  

  Following a significant selloff over the previous few days, regional bank stocks rallied to conclude the US trading session. On Tuesday, bank stocks increased and Treasury yields increased as some traders expected that banking sector hardship may be minimised, allowing the Federal Reserve to concentrate on fighting inflation.Compared to Monday’s …

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• 14 March 2023 11:03 pm

  After CPI reading, Bitcoin price climbs past $25,000

  

  From 6.4% in February 2023, the Consumer Price Index decreased to 6.0% year over year. It is anticipated that following the next FOMC meeting, interest rates will rise by 25 basis points. The cryptocurrency market responded favourably to the inflation rate as the price of Bitcoin increased to trade at …

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• 14 March 2023 10:15 pm

  USD/CHF gains traction after CPI data

  

  USD/CHF is coming back to the downside after the latest CPI report, which jumped from 3.3% to 3.4% y/y. We can see an excellent turndown towards the lower support line. USD/CHF trims some of its Monday’s losses and shifts positively on Tuesday, gaining 0.47%. The USD/CHF is trading at 0.9151 …

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• 14 March 2023 9:10 pm

  Gold expected to lose momentum on hawkish stance

  

  Despite trading at 1909.07 at the time of writing, the precious metal jumped to the highest in over a month. Economists see the yellow metal trading above $1,925 in the latter months of this year. Ironically, higher rates now are good for gold later on as they would drive rates …

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• 14 March 2023 8:05 pm

  Binance suspends GBP transfers after crypto crackdown

  

  The World’s largest exchange is expected to suspend UK withdrawals amid increasing crypto scrutiny. Therefore, British customers of the world’s biggest cryptocurrency exchange will be unable to withdraw their money from the platform within months. Binance has been forced to suspend withdrawals to British bank accounts following pressure from regulators …

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• 14 March 2023 7:14 pm

  Which companies are affected by SVB collapse

  

  SVB Financial Group, a startup-focused lender, became the largest bank to fail since the 2008 financial crisis last week, sending shockwaves across the global financial system and pushing authorities to step in to minimise the consequences. Concerns were also voiced that increasing interest rates would expose weaknesses in the global …

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• 14 March 2023 6:21 pm

  Wall St gains as inflation data bolsters bets of smaller rate hike

  

  Wall Street’s main indexes surged on Tuesday as consumer prices in the world’s largest economy grew in line with expectations, supporting betting on the Federal Reserve raising interest rates by a lower amount at its next meeting. The Consumer Price Index (CPI) in the United States increased 0.4% in February, …

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• 14 March 2023 5:17 pm

  Dollar gains after tepid U.S. consumer prices report

  

  The dollar nudged higher on Tuesday as consumer price data showed inflation continuing to rise but at a slower pace, in a widely anticipated result that might prompt the Federal Reserve to suspend or possibly halt interest rate hikes next week. The dollar index increased by 0.106%, while the euro …

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• 14 March 2023 4:37 pm

  US annual CPI data declines to 6% in February as expected

  

  The US Bureau of Labor Statistics reported on Tuesday that inflation in the United States, as measured by the Consumer Price Index (CPI), declined to 6% on a yearly basis in February from 6.4% in January. This reading came in line with the market expectation. On a monthly basis, the …

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