Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 1 March 2023 12:44 pm

  Japan’s Nikkei index closed higher as sentiment improved on Chinese data

  

  Japan’s Nikkei index extended gains to close higher on Wednesday as sentiment improved after data showed manufacturing activity in China expanded in February at the fastest pace in more than a decade. The Nikkei index closed up 0.26 percent at 27,516.53 points, after falling as much as 0.5 percent earlier …

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• 1 March 2023 12:04 pm

  China’s Caixin Manufacturing PMI expands to 51.6 in February

  

  China’s Caixin Manufacturing PMI returns to expansion with 51.6 in February vs. 50.2 expected and 49.2 previous, courtesy of the renewed increases in output, new orders and employment. Wang Zhe, Senior Economist at Caixin Insight Group said, “The recovery in manufacturing activity came as the most recent wave of Covid-19 …

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• 1 March 2023 11:16 am

  Oil rose by about 2%, supported by China’s growth hopes

  

  Oil prices rose nearly 2 percent on Tuesday, erasing losses from the previous session, as hopes for a strong economic recovery in China offset concerns about a US interest rate hike that led to lower consumption in the world’s largest economy. Brent crude futures for April delivery, which expired on …

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• 1 March 2023 10:39 am

  Gold continues to rise as the dollar declines and interest rate concerns limit gains

  

  Gold prices continued to climb for a third session on Wednesday as the dollar weakened, however concerns over US interest rate hikes on the back of high inflation globally curbed gains. Spot gold rose 0.2 percent to $1,831.43 an ounce by 0536 GMT. US gold futures rose 0.1 percent to …

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• 1 March 2023 3:08 am

  Market Drivers – US Session 28/02/2023

  

  The US dollar managed to recover some of its early losses, but the day still ended unevenly. In spite of month-end flows, correlations were off, but risk aversion was unaffected. As Wall Street ended neutral, the majority of European indexes closed the day in the red.Key DevelopmentsThe focus was on …

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• 1 March 2023 2:54 am

  Gold price eventually stabilizes on weak US data

  

  The price of the precious metal has eventually stabilized with the US session’s end. Gold was earlier up 0.5% near $1,826.67 after travelling from a low of $1,804 and $1,831 on the day. It is trading at 1826.10 at the time of writing after weak US economic data was widespread …

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• 1 March 2023 12:30 am

  WTI reverses Monday’s losses on expectations of China’s reopening

  

  Despite mounting rumours that the Fed will keep tightening monetary conditions, WTI crude oil rose 1.90% on Tuesday in response to new hopes for oil demand as a result of China’s reopening. WTI has therefore reached a low of $75.60 and is currently trading at $77.11, up from its opening …

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February, 2023

• 28 February 2023 11:29 pm

  Is Kazakhstan prepared for strong demand for its commodities?

  

  In its oil and mining sectors, Kazakhstan has long welcomed international direct investment. By 2020, $161 billion will have been invested there, with $30 billion coming from the United States. Also, it received a large investment of $27.6 billion from China (via the Belt and Road Initiative), with half of …

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• 28 February 2023 9:55 pm

  US stocks to incur losses in Feb. as rate concerns accelerate

  

  The S&P 500 retreated and the main US indexes are expected to record monthly losses on Tuesday as Treasury yields surged while investors are focused on bets concerning upcoming interest rate decision which is seen high for longer. Bank of America Global Research warned the Fed could even hike interest …

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• 28 February 2023 8:50 pm

  Will Rivian prove ability to grow production, cut losses in 2023?

  

  Rivian shares will be in focus after the bell as the electric adventure vehicle maker will report its Q4 financial results. The company’s new annual production target and its projected loss for 2023 are expected to be of particular interest for investorsFrom a deliveries standpoint, the company already reported that …

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• 28 February 2023 8:23 pm

  Recession woes drag Consumer confidence lower in February

  

  The US Consumer-confidence index drops to 102.9 in February. High inflation and rising interest rates are making Americans more worried about a possible recession. The reading is the outcome of a survey of consumer confidence that fell to a three-month low of 102.9 in February, signaling worries about the future …

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• 28 February 2023 7:44 pm

  USD/CAD rallies on weak Canada GDP, mixed US data

  

  After gloomy economic data from Canada, the USD/CAD pair headed forward toward the 1.3600 mark, while the US dollar registers some losses. Market sentiment shifted sour as US equities opened in the red territory. At the time of writing, the USD/CAD pair is trading at 1.3601 versus the previous closing …

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• 28 February 2023 6:49 pm

  Reuters survey: OPEC oil production increased by 150 thousand barrels per day in February

  

  A Reuters survey showed on Tuesday, February 28, that OPEC’s oil production rose this month by about 150,000 barrels per day, compared to January levels. According to the survey, oil production within OPEC recorded levels of 28.97 million barrels per day, supported by the recovery of oil supplies in Nigeria …

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