Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 15 March 2023 9:18 pm

  Risk aversion drags S&P 500 lower on banking contagion linked fears

  

  The major US Indexes; S&P 500, the Nasdaq 100, and the Dow Jones collapsed as the banking system crisis deepened. The US Producer Price Index cooled, while Retail Sales dropped after an outstanding January report.Investors anticipate that the Federal Reserve will maintain the Federal Funds Rate at its upcoming meeting. …

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• 15 March 2023 8:33 pm

  EUR/GBP falls to 0.8700 on expectations of less hawkish ECB

  

  Reacting to widespread market concerns over banking contagion, the EUR/GBP pair widens its losses. The mood on the market is starting to turn negative. The Euro is specifically penalized by this prior to the European Central Bank’s interest rate decision.As the UK Finance Minister Jeremy Hunt revealed the new budget …

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• 15 March 2023 7:39 pm

  Australia’s Employment Forecasts By Five Major Banks

  

  Australia is expected to report its February employment figures on Thursday, and as markets get closer to the release time, forecasts, from economists and researchers at five major banks regarding the upcoming employment data, are worth consideration.Australia is expected to have added 48.5K jobs versus the previous reading -11.5K in …

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• 15 March 2023 5:23 pm

  Oil fell on concerns of the banking sector

  

  Oil extended its losses on Wednesday, with Brent crude hitting a three-month low as concerns about Credit Suisse raised concerns in global markets, limiting the positive impact of expectations of a recovery in Chinese oil demand. Indications of a return to calm and stability faded after the National Bank of …

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• 15 March 2023 4:22 pm

  Turkey’s budget deficit is 170.6 billion liras in February following the earthquakes

  

  The Turkish Finance Ministry said on Wednesday that the Turkish government’s budget recorded a deficit of 170.56 billion liras ($8.99 billion) in February, showing the impact of the violent earthquakes that hit the southeast of the country last month. The ministry added that the core budget, which does not include …

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• 15 March 2023 3:06 pm

  ECB likely to stick to big rate hike despite banking turmoil

  

  Policymakers at the European Central Bank are leaning towards a half-point rate rise on Thursday, as the banking sector crisis subsides, the eurozone economy strengthens, and inflation is expected to remain too high for years. When the collapse of Silicon Valley Bank (SVB) in the United States sent vibrations across …

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• 15 March 2023 1:24 pm

  Energy Agency: Resuming China’s activities, air transport recovery increase oil demand

  

  The International Energy Agency said on Wednesday that global oil demand is rising slowly, but is about to receive a significant boost, thanks to the resumption of air traffic and the resumption of economic activities in China after the lifting of restrictions related to Covid-19. “Global oil demand growth started …

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• 15 March 2023 12:15 pm

  USD finds support as fears of a banking crisis subside

  

  The dollar found support in Asian markets on Wednesday, as investors cut their expectations about cutting interest rates in the United States after easing fears of a banking crisis and the release of data showing that inflation remains high. In early trading, the wave of selling the dollar, which lasted …

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• 15 March 2023 11:51 am

  Nikkei ends 3-day losing streak as banking stocks rise

  

  Japanese banking stocks closed higher on Wednesday, helping the Nikkei index end a three-day losing streak, as markets regained some calm after investor fears of spillovers from the Silicon Valley bank collapse subsided. The Tokyo Stock Exchange’s banking index rose 3.3 percent, led by shares of Suruga and Shimane Banks, …

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• 15 March 2023 11:36 am

  Gold prices fell as the dollar and bond yields rose

  

  Gold prices fell on Wednesday as the dollar and US bond yields rose as investors assessed the path of US interest rates after a consumer price report showed that inflation remains high. Gold fell in the spot market 0.1 percent to $ 1901.24 an ounce by 0052 GMT, after falling …

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• 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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